Optimization of Hajj Dam payment through the implementation of blockchain technology: a Monte Carlo simulation and network analysis study

Purpose – This study aims to evaluate whether and how a permissioned blockchain could affect the administration of Hajj Dam payments in Turkey, with a specific focus on transparency, settlement integrity and operational efficiency, without presuming any benefits in advance. Design/methodology/approach – This study examines the feasibility of blockchain technology in simplifying Hajj Dam payment transactions, aiming to increase integrity and trust in Hajj financial management. The main quantitative methodologies adopted are the Monte Carlo simulation model, which is used to assess the risk and uncertainty in blockchain transactions by simulating thousands of payment scenarios, and network analysis, which is applied to map and measure the complexity and speed of transactions in the blockchain network. The empirical context is based on a synthetic model of the Hajj Dam payment process in Turkey. Findings – The results indicate that blockchain implementation improves the efficiency and security of Dam payments, ensuring transparency and accuracy. Research limitations/implications – Further studies are recommended to evaluate user acceptance of new technology-based payment systems. Practical implications – The findings have significant implications for Islamic financial institutions and Hajj regulators by encouraging the adoption of blockchain technology to modernize the payment process. Social implications – This study suggests that adopting blockchain technology in Hajj financial management can enhance trust and transparency among participants. Originality/value – This study provides new insights into the practical implementation of blockchain technology in Hajj financial administration, particularly in Dam payments, highlighting its potential to change the existing paradigm. It fills a gap in the literature by introducing a data-driven framework tailored to the Hajj context, with a specific focus on Turkey.