Paper Title
The Impact of Blockchain on Risk Mitigation in Islamic Finance: A New Mechanism To Mitigate Gharar Risks

The purpose of this paper is twofold: to explain the Islamic modes of finance nature-related features of risk, and investigate the use of blockchain technology in managing risk in Islamic finance. The major result is that the nature of manageable risks in Islamic and traditional finance exhibits similarities in many aspects. Nevertheless, the Islamic joint ventures and sales-based modes of finance are facing special type of risks. The most outstanding and unmanageable risk is related to Gharar . The paper emphasized that the traditional risk mitigation tools are unable to manage the special risk in the form of Gharar. Finally, the paper summarizes the potential contribution of blockchain technology in mitigating risks in the Islamic mode of finance (specially Gharar risk) and highlights its efficiency. Keywords - Blockchain, Risk Management, Gharar, Sharia Rule.