Application of Waqf Crowdfunding Based on Blockchain Technology to Fishermen in Kedung Cowek Village Surabaya

Community Service: Implementation of Blockchain Technology-Based Waqf Crowdfunding in 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 waqf crowdfunding based on blockchain technology at the Nambangan and Cumpat Fishermen Group, Kedung Cowek Village, Kenjeran District, Surabaya City. This program is carried out considering that fishermen groups are often faced with problems with limited capital and generally they are not bankable. Thus, it is difficult for them to get funds to carry out their activities as fishermen.
Cash waqf is considered to be used as an alternative funding solution for fishermen. For that, Prof. Raditya Sukmana took the initiative to create a platform for collecting and distributing waqf funds using blockchain technology. This platform can be accessed via https://waqf.network/
This platform is structured in such a way that it makes it easier for all parties to pay cash waqf and can choose prospective partners who are trusted to take advantage of waqf funds.
On this occasion, the first trial was conducted on a group of fishermen from Nambangan and Cumpat, Kenjeran, Surabaya. The funds collected from this program are then used to purchase fishing equipment which is managed by the Toserba owned by the fishing cooperative that houses them, namely the Cooperative 64 Bahari.
With this waqf fund, the fishermen's group succeeded in increasing the volume of Toserba's business while making it easier for fishermen to get fishing equipment.
“With this waqf program, we fishermen, no longer need to go far to buy nets and other fishing gear. Members of the fishing group were very happy and thanked the Faculty of Economics and Business, Universitas Airlangga for their cooperation. Hopefully this program will continue so that we can become more advanced,” said Ahmad Sukron, Head of the 64 Bahari Cooperative.