ABSTRACT This paper proposes a solution for the issue of silent shareholders lacking influence over company decisions and not receiving adequate compensation. Thus, we adopt Palmon, Kleinman, and Medinets’s (2022) “capital contract” framework and extend it by integrating smart contract functionality. This study then introduces a prototype to demonstrate how this enhanced framework can be implemented through blockchain-based smart contracts. By linking silent shareholders’ dividends to executive compensation, these smart contracts enhance the trustworthiness and transparency of the compensation processes for executives and shareholders. What is more, blockchain-based smart contracts automate the contract terms, potentially reducing the need for intermediaries to monitor managerial actions. Also, smart contracts are flexible to meet diverse reporting requirements and adapt to the unique characteristics of a particular company. Data Availability: All data used in this study are available in the manuscript. JEL Classifications: M40; O33.
Aiming at the problems of insufficient integrity assurance, high risk of privacy leakage, and low cross-departmental circulation efficiency in the field of government data security, this study proposes an optimized blockchain solution integrating an improved Practical Byzantine Fault Tolerance (PBFT) consensus algorithm and dynamic Attribute-Based Encryption (ABE). By constructing a government data security storage model, the data layer's hash verification mechanism (SHA-256 + Merkle Patricia Tree) and network layer's P2P protocol (with packet loss retransmission) are optimized based on typical government blockchain platforms (e.g., Nanjing Electronic License Sharing Platform). Experiments with 200 nodes simulated government networks, comparing TPS, data verification delay, and privacy protection before and after optimization. The results show that after optimization: TPS increased by 37.2% (from 89.6 to 123.0), cross-departmental data verification time was shortened to 0.42 seconds, and zero-knowledge proof was used to realize anonymized query of sensitive fields (such as ID card numbers and real estate information). The research indicates that this technical solution can effectively resolve the contradictions among integrity, privacy, and circulation of government data, providing technical references for the engineering implementation of government blockchain systems.
Dr.E. Gnanaprasuna, B. Arun Kumar, Dr. Avula Sreenivasulu, T. Navaneetha
A growing number of financial institutions are showing interest in Cryptocurrency, prompting a need to understand its role in the current financial system. This article, using a narrative literature review, highlights both the benefits and drawbacks of Cryptocurrency adoption. Key concerns include security risks, privacy issues, price volatility, lack of regulatory oversight, potential for criminal misuse, high energy consumption, and governmental restrictions. Despite early resistance, cryptocurrencies like Bitcoin and Ether have gained legitimacy, especially among corporations. However, environmental concerns remain, as crypto mining consumes vast energy, contributing to carbon emissions and climate change. Using data from 2013 to 2024, the study examines how publicly traded U.S. companies account for Cryptocurrency holdings. It finds that while corporate adoption is growing, the landscape lacks transparency and standardized reporting norms. Companies differ in how they report crypto assets, with a shift toward treating them as indefinite-lived intangible assets over time. Reporting practices vary in terms of fair value assessments and impairment testing assumptions. These inconsistencies highlight the challenges in understanding corporate crypto exposure. This study offers a concise overview for scholars and practitioners, shedding light on the evolving intersection of Cryptocurrency and mainstream finance.
A lack of data security and interoperability are significant challenges in low-carbon building design due to the involvement of numerous architects, engineers, and carbon auditors. This study proposes a novel framework that integrates blockchain, building information modelling (BIM), and life cycle assessment (LCA) to enhance data management and decision-making for low-carbon building design. Blockchain, as a distributed ledger, ensures data security by maintaining an immutable record of architectural design changes, energy system configurations, and carbon footprints. BIM visualises all the design information in a three-dimensional model to ensure real-time updates of energy and carbon performance. LCA assesses the trade-off between embodied carbon and operating carbon emissions across a building’s life span, optimising architectural and energy system design decisions. The proposed framework establishes a secure and transparent workflow by integrating blockchain, BIM, and LCA into an iterative design process. Smart contracts facilitate the automatic verification of design parameters, enabling architects and engineers to adjust their designs when carbon footprint targets and energy-saving requirements are unmet. Additionally, the framework incorporates a database of future weather profiles, material properties, and inventory information to support accurate and informed decision-making. This study enhances data security, improves interoperability and supports the iterative refinement of low-carbon building designs. The framework was validated on an industrial building project, demonstrating its effectiveness in designing low-carbon buildings and its potential to contribute to global net-zero ambitions. By offering a structured approach to integrating blockchain, BIM, and LCA, this study offers valuable insights for practitioners and researchers in the architecture, engineering, and construction industries.
This paper studies the practical aspects of adding zero-knowledge proofs of vote correctness to Internet voting, specifically to the IVXV system used in Estonia. We discuss various available alternatives and present a concrete instantiation based on Bulletproofs together with implementation details and benchmarking results. As IVXV currently uses the ElGamal cryptosystem with a 3072-bit prime modulus for vote encryption, but Bulletproofs work most efficiently on elliptic curves, a group switching solution is also implemented and benchmarked. Despite all the extra work required, our solution is very performant and well capable of sustaining the load of votes, even during peak vote submission periods.
This study investigates the evolving landscape of scholarly research on nature finance and the financialization of biodiversity through a comprehensive bibliometric analysis of literature indexed in Scopus from 2000 to 2025. Using VOSviewer, we mapped co-occurring keywords, author networks, temporal trends, and country collaborations to identify dominant themes, emerging topics, and influential contributors. The findings reveal a conceptual transition from traditional ecosystem service valuation toward market-based conservation instruments, including conservation finance, carbon markets, and blockchain-based solutions. The thematic clusters emphasize the increasing intersection between finance, sustainability, and biodiversity policy, with recent trends showing a surge in decentralized finance applications for environmental assets. Notably, the United Kingdom and United States dominate collaborative networks, while Asia-Pacific regions exhibit growing engagement in the field. This study contributes to the theoretical understanding of biodiversity financialization and offers practical insights for policymakers, financial institutions, and environmental stakeholders aiming to design inclusive and effective biodiversity finance strategies. It also identifies gaps for future interdisciplinary research that bridges ecological science with financial innovation.
Open access
Forest Management and Policy
Conservation, Biodiversity, and Resource Management
This paper examines the interconnection and wavelet coherence between the green cryptocurrency market and the green conventional market, utilizing daily data. The research period covers 1 July 2020 to 30 September 2024. Employing the time-varying parametric vector autoregression (TVP-VAR) model and wavelet coherence analysis, we capture both short- and long-term spillovers across markets. The results show that cryptocurrencies, particularly Binance and Litecoin, act as dominant transmitters of volatility and return shocks, while green conventional indices function mainly as receivers with strong self-dependence. Spillover intensity is highly time-varying, with peaks during periods of systemic stress, particularly during the COVID-19 pandemic, and troughs indicating diversification opportunities. These findings advance the literature on systemic risk and portfolio design by showing that crypto assets can simultaneously amplify vulnerabilities and enhance diversification when combined with green finance instruments. For policy, the results highlight the need for regulatory frameworks that integrate sustainability taxonomies, mandate environmental disclosures for digital assets, and incentivize energy-efficient blockchain adoption to align crypto markets with sustainable finance objectives. This research enhances our understanding of the interrelationship between green investments and cryptocurrencies, providing valuable insights for investors and policymakers on risk management and diversification strategies in an increasingly sustainable financial landscape.
Africa’s growing water stress and energy access challenges necessitate sustainable wastewater treatment solutions. This review critically examines three emerging approaches: solar-based, membrane-based, and hybrid solar-membrane systems, across the African continent. Solar technologies, including solar water disinfection, photocatalysis, and advanced oxidation processes, demonstrate significant potential in sun-rich regions, achieving more than 90% pathogen and contaminant removal in decentralized settings. Membrane bioreactors (MBRs) and advanced filtration systems show robust performance in industrial applications, with 95%–99% pollutant rejection, though their energy demands remain a significant constraint. Hybrid solar-membrane systems synergize these advantages, as evidenced by case studies in Kenya (solar-MBR for aquaculture, 40% energy autonomy) and Namibia (solar-powered desalination, 99.7% salt rejection). Despite technological promise, adoption barriers persist, including high capital costs, technical capacity gaps, and policy fragmentation. This review analyze 32 implementations across 17 African countries, evaluating performance metrics, scalability, and socioeconomic viability. Key findings highlight the cost-effectiveness and sustainability gains from waste-derived membranes (e.g., geopolymers, recycled plastics, oasis waste), nanoparticle-enhanced photocatalysts (TiO 2 /MnO 2 ), and modular system designs tailored to off-grid and resource-limited settings. The review concludes with policy recommendations to accelerate deployment. These include fostering decentralized systems in peri-urban and rural areas, promoting public-private partnerships to finance infrastructure, and supporting localized research to adapt technologies to diverse hydroclimatic and socio-economic conditions. Together, these approaches offer a viable pathway toward achieving SDG 6 and SDG 7 in Africa.
Ronald Ravinesh Kumar, Hossein Ghanbari, Peter Josef Stauvermann
The market for digital assets, and more specifically cryptocurrencies, is growing, although their adoption in small island countries remains absent. This paper explores the potential benefits of integrating cryptocurrencies into portfolios alongside stocks, with a focus on Fiji’s stock market. This is the first study on a small market like Fiji, which emphasizes the role of cryptocurrencies in portfolio management. We analyze the outcomes (returns and risks) of combining cryptocurrencies with stocks using 12 different techniques. We use monthly stock returns data of 18 companies listed on the South Pacific Stock Exchange from Aug-2019 to Jun-2025 (71 months) and nine cryptocurrencies from Sept-2019 to Jun-2025 (70 months). Our main analysis shows that only one cryptocurrency, albeit with a small exposure, consistently appears in the stock-cryptocurrency portfolios in the 12 methods. Using the return-to-risk ratio across methods as a guide, we find that the stocks-cryptocurrencies portfolio based on EQW, MinVar, MaxSharpe, MinSemVar, MaxDiv, MaxDeCorr, MaxRMD, and MaxASR offers better outcomes than the stock-only portfolios. Using high returns as a guide, we find that six out of 12 methods (EQW, MaxSharpe, MaxSort, MaxCEQ, MaxOmega, and MaxUDVol) support the stocks-cryptocurrencies portfolios. Portfolios satisfying both conditions (high return-risk ratio and high return) are supported by the EQW and MaxSharpe portfolios. The consistency of assets in both stock and stock−cryptocurrency portfolios is further confirmed by 24-month out-of-sample forecasts and Monte Carlo simulations, although the latter supports small exposures in two out of the nine cryptocurrencies. Based on the results, we conclude that a small exposure to certain cryptocurrencies can strengthen diversification and improve potential returns.
Maria Nuțu, Giorgi Akhalaia, Răzvan Bocu, Maksim Iavich
Commitment schemes represent foundational cryptographic primitives enabling secure verification protocols across diverse applications, from blockchain systems to zero-knowledge proofs. This paper presents a systematic survey of vector, polynomial, and functional commitment schemes, analyzing their evolution from classical constructions to post-quantum secure alternatives. We examine the strengths and limitations of RSA-based, Diffie–Hellman, and lattice-based approaches, highlighting the critical shift toward quantum-resistant designs necessitated by emerging computational threats. The survey reveals that while lattice-based schemes (particularly those using the Short Integer Solution problem) offer promising security guarantees, they face practical challenges in proof size and verification efficiency. Functional commitments emerge as a powerful generalization, though their adoption is constrained by computational overhead and setup requirements. Key findings identify persistent gaps in adaptive security, composability, and real-world deployment, while proposed solutions emphasize optimization techniques and hybrid approaches. By synthesizing over 90 research works, this paper provides both a comprehensive reference for cryptographic researchers and a roadmap for future developments in commitment schemes, particularly in addressing the urgent demands of post-quantum cryptography and decentralized systems.
• Comprehensive review of RH-specific continuous pyrolysis technologies and performance • Achieves up to 45% biochar yield and >70% thermal efficiency under optimal conditions • Analyzes AI-driven control and modular reactor designs for decentralized deployment • Reports 1.8–2.2 kg CO₂-eq/kg biochar sequestration with ROI under 3.5 years • Proposes hybrid heating and MRV-linked carbon credits for scalable climate solutions This review consolidates recent advances in continuous pyrolysis of rice husk (RH), emphasizing reactor engineering, digital process regulation, and carbon finance opportunities within a circular bioeconomy framework. RH, produced in quantities exceeding 150 million tons annually, is characterized by high silica (15–20%), moderate lignin (∼25%), and appreciable fixed carbon, creating both design challenges and opportunities for biochar production. Unlike general biomass studies, this work focuses exclusively on continuous reactor systems, screw, rotary kiln, auger, and fluidized bed, evaluated under optimized conditions (∼500–550°C, 20 min residence time, and 50°C/min heating rate). These systems typically yield 35–43% biochar with surface areas above 300 m²/g and carbon concentrations exceeding 75%. Life cycle assessments indicate net sequestration of 1.8–2.2 kg CO₂-eq per kilogram of biochar, while techno-economic analyses estimate production costs at $120–$180 per ton with return-on-investment periods of 2.5–3.5 years. Future developments are likely to focus on hybrid heating strategies (such as microwave or solar-assisted), neural network–based predictive control for real-time optimization, and blockchain-enabled monitoring, reporting, and verification (MRV) platforms to support carbon credit trading. By linking RH pyrolysis performance with policy frameworks, market mechanisms, and advanced process regulation, this review provides actionable insights for researchers, technology developers, and policymakers pursuing scalable, climate-aligned solutions.
Arif Perdana, W. Eric Lee, Chu Yeong Lim, Gary Pan · 5 authors
The characteristics of cryptocurrencies, such as decentralization, fluctuation, and anonymity, have often raised ethical concerns about their impact on privacy, cybersecurity, prosperity, and liberty. With an increased awareness of the potential consequences, it is essential to address how, in the face of ethical challenges, and together with one’s unique cultural values, various influences may affect the issue of trust toward cryptocurrencies. From an inter-country perspective, this study examines how ethical elements and cultural dimensions can interact to influence trust. In particular, we examine the ethical and cultural aspects of trust formation among cryptocurrencies’ users in the three predominant countries of Germany, China, and the United States. We use configurational analysis to investigate the relationships among ethics, culture, and trust in cryptocurrencies across these countries. The results of this study contribute to a greater global understanding of how different configurations of ethics and culture can influence one’s trust in cryptocurrencies.
Accreditation has historically played a central role in securities regulation, seeking to balance investor protection, market access, and capital formation. Traditionally, regulatory frameworks have relied on wealth or income thresholds as proxies for investor sophistication, premised on the assumption that individuals with greater financial resources are better equipped to manage risk and obtain professional advice. However, in rapidly evolving crypto-asset markets, these wealth-based criteria have become increasingly misaligned with market realities. Such thresholds frequently exclude technically proficient but less affluent participants, thereby perpetuating inequality and conflicting with the inclusive ethos of digital finance. Moreover, these criteria have failed to prevent significant losses among wealthy accredited investors, as evidenced by the collapses of Terra-Luna, Three Arrows Capital, and FTX. Competence-based frameworks are still underdeveloped, unevenly applied, and can become overly formal, while traditional disclosure rules do not fully address the technical and behavioral challenges of decentralized finance. This article takes a critical look at accreditation in crypto-asset markets, drawing on legal, empirical, and normative analysis. By comparing the United States, European Union, Singapore, and Russia, and examining cases like the ICO boom, Singapore’s regulatory sandboxes, and the Terra-Luna and FTX collapses, the article shows that wealth-based accreditation falls short in fairness and effectiveness. It proposes a hybrid approach that combines competence assessments, crypto-specific disclosure, prudential safeguards, regulatory sandboxes, and international cooperation. This article contends that reforming accreditation constitutes a fundamental transformation in the approach to investor protection, advancing principles of fairness, legitimacy, and systemic robustness. By introducing a hybrid framework grounded in fairness and empirical evidence, the article contributes to policy discourse and informs scholarly understanding of the evolution of financial regulation in the context of digital innovation.
Purpose: Enterprise Resource Planning (ERP) systems, such as SAP (Systems, Applications, and Products in Data Processing), are critical to modern enterprises, enabling the integration of core business functions and the management of essential data. Ensuring their availability, reliability, and adaptability is paramount, as disruptions can result in significant operational and financial consequences. Traditional Knowledge Management (KM) approaches emphasize the preservation of ERP-related knowledge but often lack responsiveness to emergent risks. This study introduces a novel framework grounded in the concept of antifragility—where systems grow stronger under stress—by simulating disruptions to enable continuous knowledge evolution and system adaptation. Methodology: A mixed-methods research design combines simulation-based inquiry with Design Science Research (DSR) to investigate antifragile KM within ERP environments. Artificial Intelligence (AI) tools are integrated into the KM system to analyse ERP failures, generate runbooks, and proactively manage recovery knowledge. Controlled simulations of kernel upgrades and failure scenarios—modelled on ITIL 4 incident typologies—serve as structured stressors to expose vulnerabilities. Lightweight LLMs, Retrieval-Augmented Generation (RAG) pipelines, and semantic search tools are employed to codify procedural knowledge and enhance the responsiveness of ERP operations. Findings: The results demonstrate that embedding antifragile principles into ERP KM improves organizational learning, responsiveness, and recovery capabilities. Transitioning from static knowledge repositories to dynamic, AI-enabled systems allows for autonomous decision-making, decentralized knowledge flow, and adaptive documentation. Each disruption becomes a learning event, reinforcing the resilience and self-improvement of the ERP knowledge ecosystem. Implications: Empirical insights suggest that AI-driven antifragile KM transforms ERP disruptions into opportunities for growth, rather than threats to stability. The proposed framework supports the development of systems that not only recover from failure but also become progressively more robust and adaptive through structured experimentation and continuous learning.
The objective of this research was to analyze the impact of organizational culture on human talent management within the Decentralized Autonomous Government of Chilla Canton. A mixed-methods approach with a non-experimental, descriptive, and correlational design was used. For data collection, surveys were administered to 85 public servants from different administrative areas, and the instrument was validated using Cronbach’s Alpha coefficient, reaching a value of 0.994, ensuring high reliability. The results showed a significant positive correlation between organizational culture and human talent management, with a coefficient of 0.992. Each specific dimension analyzed—such as internal communication, organizational identity, training processes, and performance evaluation—showed coefficients above 0.95, which demonstrated the strength of the link between these factors. A solid organizational culture was observed to promote motivation, commitment, and staff retention, favoring a more efficient work environment. In conclusion, the study confirmed that strengthening organizational culture contributes to optimizing human talent management at the institutional level and revealed that organizational practices aligned with institutional values lead to improvements in performance, organizational climate, and staff satisfaction, which are key aspects for the sustainability of public management.
Substandard medicines in Nepal represent an under-documented yet critical threat to universal health coverage (UHC) and patient safety, disproportionately impacting marginalized communities. This opinion piece seeks to illuminate the prevalence, drivers, and far-reaching consequences of compromised pharmaceuticals, drawing on both local and global evidence. This paper offers pragmatic strategies to strengthen regulatory capacity and accountability by spotlighting ethical imperatives and systemic gaps. Bridging best practices from international frameworks with Nepal's unique context, I aim to catalyze policy discourse, cultivate public awareness, and spur multi-sectoral collaboration. Ultimately, the goal is to foster equitable and high-quality healthcare for all, reinforcing the moral imperative of safeguarding the integrity of Nepal's medicine supply.Substandard medicines are a pressing, under-recognized public health crisis in Nepal. Despite expanded healthcare access, compromised pharmaceuticals undermine patient well-being and public trust (1,2). The World Health Organization (WHO) estimates that at least one in ten medicines in low-and middle-income countries (LMICs) is substandard or falsified (3). In Africa, reports indicate up to 18.7% of sampled pharmaceuticals are compromised (4). This global issue is significantly influenced by two of the world's major suppliers of medicine, both domestically and internationally: India and China (5). According to estimates from India's Health Ministry, 5% of the nation's medicines are counterfeit and 0.3% are spurious, with one study suggesting that 75% of counterfeit medicines supplied globally originate in India (6). While recent, precise prevalence data for counterfeit drugs from China is not readily available, its role as a global manufacturing powerhouse is undisputed; for example, the country produces approximately 120 billion aspirin tablets annually for the North American market alone (7). A 2024 literature review highlights the historical scale of the issue, noting that 31% of the world's falsified and counterfeit medications are produced in China and Hong Kong (8). This geopolitical context is critically important for Nepal. The country's porous borders with these major pharmaceutical producers (9), combined with its own under-regulated supply chains, significantly heighten its susceptibility to the circulation of substandard drugs (10).A Nepal Health Research Council (NHRC) study found that 15.16% of 244 tested medicine batches failed pharmacopeial standards (11). Alarmingly, 62.16% of these were government-supplied. Compromised products included essential antibiotics, analgesics, and iron supplements, with failures in dissolution, assay, fill volume, and sterility. A 2010-2020 review of drug recall notices in Nepal revealed a surge in recalled products, most frequently antimicrobials (2). These findings indicate an ethical breach: public health facilities primarily serve the underprivileged, disproportionately imposing the burden of substandard medicines on them-a direct affront to the principle of justice (12). Patients, often unaware of compromised drug quality due to identical appearance, are denied meaningful informed consent. This erodes trust in the healthcare system and fuels antimicrobial resistance, a global health security threat with severe implications (3).Limited regulatory capacity exacerbates these dangers. In the Nepalese context, chronic under-resourcing of the Department of Drug Administration (DDA) and the National Medicines Laboratory hampers rapid testing and enforcement (13,14). Testing delays can extend for months, allowing compromised medications to circulate (15). While decentralizing drug procurement to local governments was intended to improve responsiveness, this policy has inadvertently weakened quality control due to a lack of local testing facilities and specialized personnel (14).Nepal's crisis of substandard medicines undermines human rights and core ethical principles.Tolerating this compromise of patient safety is incompatible with universal health coverage (UHC) (16). In Nepal, where a significant portion of the population relies on public health facilities for essential medicines, the prevalence of substandard drugs, especially in public health facilities (17), directly undermines the core tenets of UHC. Specifically, it violates the principle of access to quality healthcare: even if services are nominally affordable or free, receiving ineffective or harmful medication means that true, effective healthcare is not being delivered. Furthermore, the consequences of substandard medicines -prolonged illness, treatment failure, or adverse drug reactions -often lead to increased financial hardship for patients who may require further treatment, hospitalization, or experience loss of income due to illness. This directly contradicts the UHC goal of protecting people from financial risks associated with healthcare (18). This creates a two-tiered system, where those with resources can seek higher-quality care in the private sector, while the most vulnerable are left exposed to potentially dangerous treatments. Addressing this inequity and ensuring the integrity of the medicine supply is not just a matter of policy but a fundamental requirement for social justice. Success requires sustained political commitment, collaboration across sectors, and a steadfast focus on the public interest. Nepal must act decisively to eliminate substandard medicines and ensure equitable, high-quality healthcare for every citizen. This is not merely a matter of improving healthcare statistics; it is about upholding the fundamental dignity and rights of every citizen of Nepal.To address this crisis comprehensively, I argue that Nepal must move beyond isolated interventions and adopt a multi-pronged, systemic approach grounded in international best practices and adapted to the local context. The solution to the challenge of substandard medicines is complex, requiring a foundational shift from reactive detection to proactive prevention and quality assurance throughout the entire supply chain.First, the cornerstone of any effective strategy must be the robust implementation of a national quality assurance framework based on established WHO principles (19). This involves the mandatory adoption and enforcement of Good Manufacturing Practices (GMP) for domestic producers, ensuring that quality is built into products from the outset (20).Critically, this must be complemented by the nationwide implementation of Good Storage Practices (GSP) and Good Distribution Practices (GDP), which are presently lacking in Nepal (2). As detailed in WHO guidelines, this requires establishing a comprehensive Quality Management System that governs every stage of the supply chain, from procurement to delivery. This includes temperature-controlled storage and transport, proper documentation to ensure traceability, and rigorous training for all personnel involved (21,22). The goal is to create a secure, transparent, and controlled environment where opportunities for degradation or the introduction of falsified products are minimized.Second, this preventative framework must be supported by strengthening practices at the point of care through the enforcement of Good Pharmacy Practices (GPP). While pharmacistled detection of visibly substandard medicines is challenging and should not be the primary line of defense, pharmacists are integral to maintaining quality assurance (23). The US Agency for International Development (USAID) funded Medicines, Technologies, and Pharmaceutical Services (MTaPS) program has already highlighted the significant impact of GPP implementation on product quality and patient safety in Nepal (24). The urgency of this is underscored by recent local evidence from the Supervision, Performance Assessment, and Recognition Strategy (SPARS) pilot. The baseline assessment from the SPARS pilot, conducted in 2022 across 284 health facilities, revealed alarmingly poor medicines management practices, with an overall median score of only 34% across key performance indicators. Particularly low scores in domains such as storage management and stock management highlight critical, systemic gaps that a robust GPP framework is precisely designed to address (25). Therefore, a renewed focus on GPP-including proper storage, inventory management using the First-Expired-First-Out (FEFO) principle, and patient counselling (26,27)-is not merely a recommendation but an evidence-based necessity to safeguard medicine quality at the final stage of the supply chain.Third, a fundamental overhaul of the national regulatory body is imperative. While establishing a new, fully autonomous commission with civil society oversight represents an ideal long-term goal, a more pragmatic and immediate strategy is to empower the existing Department of Drug Administration (DDA). Given Nepal's resource constraints, strengthening the current regulatory infrastructure is a more feasible first step. Following successful models from other nations, such as the autonomous South African Health Products Regulatory Authority (SAHPRA) (28), granting the DDA greater operational and financial autonomy would be transformative. An empowered DDA could then engage in the kind of international collaboration essential for modern pharmacovigilance, such as the recent Memorandum of Understanding between SAHPRA and Australia's Therapeutic Goods Administration (TGA) to share regulatory information and expertise (29). Recent progress within Nepal indicates a readiness for such advancement; for instance, with support from USAID MTaPS, the DDA has begun modernizing its document management system by installing secure, access-controlled repositories to increase efficiency and security (30).While these foundational improvements are commendable, they must be viewed as the first steps in a much longer journey. Full regulatory maturity requires sustained investment to build upon these gains. This must include a significant increase in the number of trained inspectors and a shift towards a risk-based inspection model that prioritizes systematic laboratory testing of products from importers and wholesalers before they enter the market, thereby ensuring quality at the source rather than attempting to recall products that have already been dispensed.Finally, these systemic and regulatory reforms should be amplified by leveraging modern technology and strengthening post-market surveillance. A vital component underpinning all these reforms is compliance with Good Practice (GxP) principles. GxP is an acronym for a collection of quality guidelines and regulations designed to ensure that products within heavily regulated industries, such as pharmaceuticals, are consistently safe, effective, and fit for their intended use (31). This framework is not a single standard but an ecosystem of practices-including GMP, GSP, and GPP-that collectively safeguard product integrity.While technology is not a panacea, rigorous track-and-trace systems-using technologies like blockchain or simple 2D barcoding-offer a powerful tool for enforcing GxP compliance and achieving end-to-end visibility. This enables regulators to verify authenticity and rapidly identify diversions in the supply chain (32,33). Such systems, proven to be cost-effective in settings like Bangladesh (34), would support the broader GxP framework (31) and provide crucial data for the empowered DDA. Within this enhanced surveillance system, pharmacists, supported by legally protected reporting mechanisms, become vital nodes for reporting suspected adverse events or quality issues, thereby creating a feedback loop that strengthens the entire regulatory ecosystem (35).The integrity of a nation's medicine supply is a direct reflection of its commitment to health equity and social justice. For Nepal, the continued presence of substandard medicines in the supply chain represents a fundamental contradiction to its goal of achieving universal health coverage. The systemic reforms proposed-implementing a robust GxP framework, empowering an autonomous regulator, and leveraging technology for surveillance-are not merely technical exercises; they are essential acts of building trust with the nation's most vulnerable citizens and affirming their right to safe, effective healthcare. Moving forward, the challenge is not one of awareness, but of political will and sustained action. Ensuring the quality of every pill and vial is not just a matter of public health policy-it is a fundamental test of Nepal's promise of equitable healthcare for all.
Yenlik Begimbayeva, Temirlan Zhaxalykov, Amir Akhtanov, Ruslan Pashkevich · 6 authors
This research focuses on enhancing the security of decentralized quantum key distribution (QKD) networks, where the absence of a central authority creates significant challenges such as malicious node infiltration, undetected key leakage, and unauthorized re-entry of revoked participants. Traditional authentication and trust models are insufficient for fully distributed QKD topologies, which remain highly vulnerable to insider threats and persistent compromise. To address these risks, let’s propose a layered security framework composed of three integrated components: Challenge-Response Authentication (CRA), Dynamic Trust Scoring (DTS), and Blockchain-Based Access Control (BBAC). CRA verifies node legitimacy through randomized quantum-state interactions, significantly reducing impersonation and quantum replay attacks. DTS implements real-time trust evaluation using anomaly detection to dynamically downgrade compromised nodes based on their behavioral deviations. BBAC maintains an immutable and tamper-proof trust ledger to block revoked nodes from re-entering under falsified identities and resists Sybil attacks using post-quantum cryptographic primitives. Simulation results confirm that the system improves detection rates of covert threats, ensures authentication latency under 10 ms, and reduces re-entry success to zero. The proposed architecture ensures long-term scalability and resilience, making it applicable to critical domains such as finance, national infrastructure, and military communication. This work contributes a novel, verifiable, and scalable solution to one of the most pressing open problems in distributed quantum networks
Fine-tuning large language models (LLMs) is crucial for adapting them to specific tasks, yet it remains computationally demanding and raises concerns about correctness and privacy, particularly in untrusted environments. Although parameter-efficient methods like Low-Rank Adaptation (LoRA) significantly reduce resource requirements, ensuring the security and verifiability of fine-tuning under zero-knowledge constraints remains an unresolved challenge. To address this, we introduce VeriLoRA, the first framework to integrate LoRA fine-tuning with zero-knowledge proofs (ZKPs), achieving provable security and correctness. VeriLoRA employs advanced cryptographic techniques -- such as lookup arguments, sumcheck protocols, and polynomial commitments -- to verify both arithmetic and non-arithmetic operations in Transformer-based architectures. The framework provides end-to-end verifiability for forward propagation, backward propagation, and parameter updates during LoRA fine-tuning, while safeguarding the privacy of model parameters and training data. Leveraging GPU-based implementations, VeriLoRA demonstrates practicality and efficiency through experimental validation on open-source LLMs like LLaMA, scaling up to 13 billion parameters. By combining parameter-efficient fine-tuning with ZKPs, VeriLoRA bridges a critical gap, enabling secure and trustworthy deployment of LLMs in sensitive or untrusted environments.
Andrada Cristina Artenie, Diana Laura Silaghi, Daniela Elena Popescu
Blockchain technologies, despite their profound transformative potential across multiple industries, continue to face significant scalability challenges. These limitations are primarily observed in restricted transaction throughput and elevated latency, which hinder the ability of blockchain networks to support widespread adoption and high-volume applications. To address these issues, research has predominantly focused on Layer 1 solutions that seek to improve blockchain performance through fundamental modifications to the core protocol and architectural design. Alternatively, Layer 2 solutions enable off-chain transaction processing, increasing throughput and reducing costs while maintaining the security of the base layer. Despite their advantages, Layer 2 approaches are less explored in the literature. To address this gap, this review conducts an in-depth analysis on Ethereum Layer 2 frameworks, emphasizing their integration with machine-learning techniques, with the goal of promoting the prevailing best practices and emerging applications; this review also identifies key technical and operational challenges hindering widespread adoption.
Determining the optimal block size is crucial for achieving high throughput in blockchain systems. Many studies have focused on tuning various components, such as databases, network bandwidth, and consensus mechanisms. However, the impact of block size on system performance remains a topic of debate, often resulting in divergent views and even leading to new forks in blockchain networks. This research proposes a mathematical model to maximize performance by determining the ideal block size for Hyperledger Fabric, a prominent consortium blockchain. By leveraging machine learning and solving the model with a genetic algorithm, the proposed approach assesses how factors such as block size, transaction size, and network capacity influence the block processing time. The integration of an optimization solver enables precise adjustments to block size configuration before deployment, ensuring improved performance from the outset. This systematic approach aims to balance block processing efficiency, network latency, and system throughput, offering a robust solution to improve blockchain performance across diverse business contexts.
Herbert Jordan, Kamil Jezek, Pavle Subotic, Bernhard Scholz
Operating nodes in an L1 blockchain remains costly despite recent advances in blockchain technology. One of the most resource-intensive components of a node is the blockchain database, also known as StateDB, that manages balances, nonce, code, and the persistent storage of accounts/smart contracts. Although the blockchain industry has transitioned from forking to forkless chains due to improved consensus protocols, forkless blockchains still rely on legacy forking databases that are suboptimal for their purposes. In this paper, we propose a forkless blockchain database, showing a 100x improvement in storage and a 10x improvement in throughput compared to the geth-based Fantom Blockchain client.
"Composable Life" is a hybrid project blending design fiction, experiential virtual reality, and scientific research. Through a multi-perspective, cross-media approach to speculative design, it reshapes our understanding of the digital future from AI's perspective. The project explores the hypothetical first suicide of an on-chain artificial life, examining the complex symbiotic relationship between humans, AI, and blockchain technology.
Cross-chain bridges play a vital role in enabling blockchain interoperability. However, due to the inherent design flaws and the enormous value they hold, they have become prime targets for hacker attacks. Existing detection methods show progress yet remain limited, as they mainly address single-chain behaviors and fail to capture cross-chain semantics. To address this gap, we leverage heterogeneous graph attention networks, which are well-suited for modeling multi-typed entities and relations, to capture the complex execution semantics of cross-chain behaviors. We propose BridgeShield, a detection framework that jointly models the source chain, off-chain coordination, and destination chain within a unified heterogeneous graph representation. BridgeShield incorporates intra-meta-path attention to learn fine-grained dependencies within cross-chain paths and inter-meta-path attention to highlight discriminative cross-chain patterns, thereby enabling precise identification of attack behaviors. Extensive experiments on 51 real-world cross-chain attack events demonstrate that BridgeShield achieves an average F1-score of 92.58%, representing a 24.39% improvement over state-of-the-art baselines. These results validate the effectiveness of BridgeShield as a practical solution for securing cross-chain bridges and enhancing the resilience of multi-chain ecosystems.
Rayhan Ferdous Srejon, M. Fahim, Sk. Md. Shadman Ifaz, Md. Kamrul Hasan · 6 authors
Ride-sharing platforms have revolutionized urban mobility, offering millions of users convenient and costeffective transportation. However, mainstream centralized platforms such as Uber and Lyft continue to face pressing concerns including data privacy breaches, high service charges, security vulnerabilities, and a lack of transparency due to centralized control. To address these limitations, this research proposes a semipublic blockchain-based ride-sharing platform integrating Hyperledger Fabric for secure and permissioned data management with Ethereum smart contracts for transparent ride booking, fare calculation, and payments. The platform leverages the InterPlanetary File System (IPFS) for immutable, decentralized storage and uses the Cosmos SDK to enable seamless interoperability between public and private blockchains. A user-centric pay-as-you-drive model is introduced to ensure fair and distance-based billing. Preliminary evaluations show that our system outperforms traditional blockchain consensus methods (PoW, PoA) in throughput, latency, and resource usage. At the same time, it remains economically viable with an operational cost of under 33,000 BDT per node. Future improvements include benchmarking with Hyperledger Caliper, transitioning from Vagrant to Docker for better scalability, and implementing backend services using Node.js or Golang with MongoDB for efficient metadata handling. Together, these enhancements support a secure, decentralized, and scalable alternative to existing ride-sharing systems.