Abstract
Crypto-asset is a form of digital or electronic asset, which was introduced with the inception of Bitcoin in 2009. The authors’ own definition of crypto-asset is that ‘it is a digital representation of value that uses cryptographic encryption technique.’ Before delving into the main discussion, it is crucial to mention at the very beginning of this chapter that according to the authors, the term ‘cryptocurrency’ is a misnomer and a nomenclature which is used inappropriately. It has been made clearer in another chapter of this book that neither all types of crypto-assets are ‘currencies,’ nor ‘cryptocurrencies’ are the only type of crypto-assets. Actually, cryptocurrencies are a subset of crypto-assets, while there are many other types of crypto-assets.
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Notes
- 1.
Throughout this chapter, the term ‘Bitcoin’ with capital ‘B’ refers to the system or the blockchain ledger itself which is only one, and hence, it is not correct to use this term in plural form with an ‘s’. On the other hand, the term with small ‘b’ or in plural form with an ‘s’ is used for the currency units generated by the system in the form of digital tokens.
- 2.
Ibn Abidin (1992, vol. 4, p. 501).
- 3.
Damad Affandi (n.d., vol. 3, p. 568).
- 4.
Ibn Taymiyyah (1995, vol. 19, p. 252).
- 5.
Al-Ghazzi (2003, vol. 8, p. 1100).
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Habib, F., Adekunle, S.S. (2019). Case Study of Bitcoin and Its Halal Dimension. In: Billah, M. (eds) Halal Cryptocurrency Management. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-10749-9_15
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