The Integration of Blockchain and Blue Sukuk in the Development of a Sustainable Blue Economy: A Maqasid al-Sharia Perspective
Keywords:
Blockchain, blue sukuk, blue economy, Maqasid al-Sharia, SDGs (Sustainable Development Goals)Abstract
This study discusses the integration of blockchain technology and Blue Sukuk in supporting sustainable blue economy development from the perspective of maqasid syariah. Blue Sukuk is viewed as an innovative solution for financing marine conservation and infrastructure projects that not only align with the Sustainable Development Goals (SDGs) but also fulfill Sharia principles such as transparency, accountability, and social and environmental justice. This study employs a literature review method using a thematic approach and descriptive analysis to examine how the integration of blockchain enhances the transparency and efficiency of Blue Sukuk. The results of the study indicate that this integration strengthens the governance and appeal of Blue Sukuk as a strategic instrument for financing projects focused on marine conservation, while also enriching the framework for an inclusive blue economy policy in Indonesia
References
Musari, K. (2025). Towards the Perpetual Sustainable Sukuk Through Islamic Blended Finance: Lessons from Green Sukuk and Blue Sukuk in Indonesia. In Securing Sustainable Futures Through Blue and Green Economies (pp. 381–402). IGI Global Scientific Publishing
[2] Ishom, M., Muttaqin, E. Z., Atikah, I., Ghazali, N. M., & Rohmawati, C. (2025). Cash Waqf in the Halal Blue Economy Sector: A Comparative Study of Indonesia and Malaysia. Mazahib, 24(1), 156–181.
[3] Othman, K., Wahab, M. Z. H., & Saufi, M. S. A. M. (2025). Digital Frontiers in Islamic Finance: Advancing the Sustainable Development Goals Through Maqasid and Maslahah. In Digitalization of Islamic Finance (pp. 1–26). IGI Global Scientific Publishing.
[4] Hidayat, A., Gustang, A., Riska, R. M. R., Prasetyo, B. E., Masgode, M. B., & Gusty, S. (2024). Maritime Revolution in Indonesia: Infrastructure, Investment, and Sustainable Economy. Tohar Media.
[5] Li, S., Chen, L., & Liu, Y. (2025). Actors, Themes, Approaches, and Imbalances in Blue Economy Cooperation: A Systematic Review and Future Prospects. Ocean & Coastal Management, 267, 107698.
[6] Bakti, S., & Hakim, L. N. (2024). Blue Economy and Strategic Leadership: Promoting Sustainable Development in Indonesia. Kalianda Halok Gagas, 7(1), 1–18.
[7] Yanova, M. H., & Komarudin, P. (2024). The Use of Blue Sukuk as a Sustainable Financing Instrument: A Review from a Regulatory Perspective. AMAL: Journal of Islamic Economics, 6(1), 16–23.
[8] Suwanan, A. F., Munir, S., & Merlinda, S. (2022). Analysis of the Role and Challenges of Green Sukuk in Climate Change Resilience for Vulnerable Regions During the COVID-19 Pandemic. Al-Kharaj: Journal of Islamic Economics, Finance & Business, 4(4), 978–989.
[9] Rifantini, A. (2024). The Role of Government Policy in the Development of Green Sukuk in Indonesia. Al-Mahkamah: Journal of Law, Politics and Government, 1(3), 365–382.
[10] Islam, M. S., Ahmed, Z., Habib, M. A., & Masud, O. (2024). Blue Economy of Bangladesh and Sustainable Development Goals (SDGs): A Comparative Scenario. Discover Sustainability, 5(1), 349.
[11] Voyer, M., Benzaken, D., & Rambourg, C. (2022). Institutionalizing the Blue Economy: An Examination of Variations and Consistencies Among Commonwealth Countries. Philosophical Transactions of the Royal Society B, 377(1854), 20210125.
[12] Ahmadi, N., Suwito, S. R., Christian, Y., & Hasriningtyas, S. (2024). Global and Indonesia Blue Economy Knowledge Map. In BIO Web of Conferences (Vol. 92, p. 01033). EDP Sciences.
[13] Yunas, A. B., Rumanto, Y., & Albart, N. (2025). Blockchain and Green Sukuk Integration for Coastal Community Empowerment in a Sustainable Blue Economy. Research Horizon, 5(2), 415–426.
[14] Wanta, D., Khomsiyah, & Gunawan, J. (2021). Sustainable Blue Finance Institution: Practical Framework and Governance of Stakeholder Involvement. V18.I02 Sustainable Blue Finance, 2157.
[15] Naseri, A., & Amani, D. (2024). Exploring the Impact of Green Bonds and Sukuk. SSRN Electronic Journal. Available at SSRN 4857876.
[16] Utermarck, S., Sharif, M., & Kohli, S. (2024). Guidance on Green, Social, and Sustainability Sukuk. International Capital Market Association (ICMA).
[17] Irfany, M. I., Rusydiana, A. S., & Nurhalim, A. (2022). The Potential Development of Blue Sukuk as an Innovative Financing Instrument for Indonesia's Marine Sector. Policy Brief Pertanian, Kelautan, dan Biosains Tropika, 4(3), 296–301.
[18] Pena, L. V. D. L., Dewulf, J., Staes, J., Moulaert, I., Vandamme, S., Heymans, J. J., & Taelman, S. E. (2024). Assessing the Sustainability of Blue Economy Activities Using an Ecosystem- and Life Cycle-Based Approach: Possibilities, Challenges, and Implications for Informed Policymaking. Ocean & Coastal Management, 257, 107360. https://doi.org/10.1016/j.ocecoaman.2024.107360.
[19] Agnelli, A., & Tortora, P. (2021). Sustainable Ocean Economy Country Diagnostics of Indonesia.
[20] Mentari, N., & Romadoni, R. M. (2025). Regulatory Framework for Blue Sukuk: Enhancing the Blue Economy by Reinforcing Shariah Investment. Hang Tuah Law Journal, 166–186. https://doi.org/10.30649/htlj.v9i1.280
[21] Wanta, D., Khomsiyah, K., & Gunawan, J. (2023). Blue Finance: Is This Supporting the SDG 14 Financing Gap? International Journal of Social and Management Studies, 4(1), 93–105.
[22] Hariyanto, E. (2020). The Potential and Strategy for Issuing Blue Sukuk. Indonesian Treasury Review: Journal of State Treasury, State Finance, and Public Policy, 5(2), 151–170.
[23] Ulusoy, A., & Ela, M. Environmental Impact Sukuk: A Proposal for Environmental Sustainability. Kocatepe Journal of Islamic Sciences, 7(3), 25–45.
[24] Mentari, N., & Romadoni, R. M. (2025). Regulatory Framework for Blue Sukuk: Enhancing the Blue Economy by Reinforcing Shariah Investment. Hang Tuah Law Journal, 166–186.
[25] Yunas, A. B., Rumanto, Y., & Albart, N. (2025). Blockchain and Green Sukuk Integration for Coastal Community Empowerment in a Sustainable Blue Economy. Research Horizon, 5(2), 415–426.
[26] Hariyanto, E. (2020). The Potential and Strategy for Issuing Blue Sukuk. Indonesian Treasury Review: Journal of State Treasury, State Finance, and Public Policy, 5(2), 151–170.
[27] Diana, D. (2024, March). A Maqasid al-Shariah Perspective and the Opportunity of Blue Sukuk for Achieving the Sustainable Development Goals in Indonesia. In Proceedings of the Femfest International Conference on Economics, Management, and Business (Vol. 2, pp. 197–208).
[28] Ramdhani, F. B., bin Masruhen, M. F., Ibrahim, M. Y., Pramitha, D., & Lubis, R. H. (2022). Opportunities for Issuing Sovereign Blue Sukuk in the Maritime Sector: A Case Study of Indonesia. Al-Tasyree: Journal of Islamic Business, Finance, and Economics, 14(2), 123–134.
[29] Diana, D. (2024, March). A Maqasid al-Shariah Perspective and the Opportunity of Blue Sukuk for Achieving the Sustainable Development Goals in Indonesia. In Proceedings of the Femfest International Conference on Economics, Management, and Business.
[30] Khuluq, M. K. (2024). Hifz al-Bi'ah as Part of Maqasid al-Shari'ah and Its Relevance in the Context of Global Climate Change. Indonesian Journal of Interdisciplinary Islamic Studies (IJIIS), 7(2).
[31] Mutmainah, L. L., Fauziyyah, N. E., Taqwa, K. Z., & Indrawan, I. W. (2022). Cash Waqf-Linked Blue Sukuk (CWLBS) for a Sustainable Marine Ecosystem: A Conceptual Model (pp. 1–21). BWI Working Paper Series.
[32] Almas, B. (2025). Blue Sukuk, the Environmental Fiqh Paradigm, and the Future of Indonesia's Marine Ecosystem. Conference on the Integration and Interconnection of Islam and Science, 6(1), 1–7.
[33] Ramdhani, F. B., bin Masruhen, M. F., Ibrahim, M. Y., Pramitha, D., & Lubis, R. H. (2022). The Opportunity of Sovereign Blue Sukuk Issuance in Maritime Sectors: A Case Study of Indonesia. Al-Tasyree: Journal of Islamic Business, Finance, and Economics, 14(2), 123–134.
[34] Ejaz, M., Ashraf, M., Shahid, M. S., & Kamran, M. (2025). Impact of Green Finance and ESG on the Sustainable Performance of Islamic Banks. Sustainable Business and Society in Emerging Economies, 7(2), 221–240.
[35] Sholiha, I., Hasanah, M., & Oktaviani, L. (2023). Blue Sukuk and Its Contribution to the Sustainability of Indonesia's Marine Ecosystem. At-Tasharruf: Journal of Islamic Economics and Business Studies, 5(1), 27–37.
[36] Musari, K. (2025). Towards Perpetual Sustainable Sukuk Through Islamic Blended Finance: Lessons from Green Sukuk and Blue Sukuk in Indonesia. In Securing Sustainable Futures Through Blue and Green Economies (pp. 381–402). IGI Global Scientific Publishing.
