Community Service: Implementation of Blockchain Technology-Based Waqf Crowdfunding in the Nambangan and Cumpat Fishermen Groups, Kedung Cowek Village, Kenjeran District, Surabaya City
From April to October 2019, one of the community service teams, Faculty of Economics and Business, Universitas Airlangga led by Prof. Dr. Raditya Sukmana, conducted a program to implement blockchain technology-based waqf crowdfunding in the Nambangan and Cumpat Fishermen Groups, Kedung Cowek Village, Kenjeran District, Surabaya City. This program was carried out considering that fishermen groups are often faced with limited capital problems and generally they are not bankable. Thus, they find it difficult to obtain funds to carry out their activities as fishermen.
Cash waqf is considered to be an alternative funding solution for fishermen. For this reason, Prof. Raditya Sukmana took the initiative to create a platform for collecting and distributing waqf funds using blockchain technology. This platform can be accessed through https://waqf.network/.
This platform is designed in such a way that it is easy for all parties to pay cash waqf and can choose potential partners who are trusted to utilize the waqf funds.
On this occasion, the first trial was carried out on the Nambangan and Cumpat fishermen's groups, Kenjeran, Surabaya. The funds collected from this program were then used to purchase fishing equipment managed by the Toserba owned by the fishermen's cooperative that oversees them, namely the 64 Bahari Cooperative.
With this waqf fund, the fishermen's group succeeded in increasing the Toserba's business volume while making it easier for fishermen to obtain fishing equipment.
"With this waqf program, we fishermen no longer need to travel far to buy nets and other fishing gear. The members of the fishermen's group are very happy and grateful to the Faculty of Economics and Business, Universitas Airlangga for their cooperation. Hopefully, this program will continue so that we can progress further," said Ahmad Sukron, Chairman of the 64 Bahari Cooperative.