Abstract This article presents an innovative contract framework to improve Quality-of-Service (QoS) within the CoreDAO blockchain, focusing on the 9NFTMania token. The research is driven by the need for reliable, decentralized processes that improve data security and transaction efficacy inside CoreDAO. The proposed Solidity-based smart contract incorporates easy reflection, liquidity provision, fee processing, and secure token transfers. The development process included criteria definition, research, contract design, platform selection, coding, rigorous testing, and real-time maintenance to ensure functionality and security. The enhancements to the ERC20 token standard improved liquidity, token exchange, and ownership management. A Dividend Token contract introduced governance mechanisms, fee structures, liquidity availability, and tax settings. Comparative analysis demonstrates the framework’s superior accuracy, precision, recall, and F1-score performance compared to conventional mechanisms. Quantitative metrics highlight significant improvements in data security, transaction efficiency, and blockchain scalability, particularly in healthcare applications. By using PoS systems, the suggested structure essentially improves CoreDAO’s quality of service—especially for the 9NFT Mania token. It adds to a safe, scalable, and effective blockchain ecosystem by surpassing the transaction efficiency and scalability of conventional Proof-of-Work methods.
The financial services industry has experienced a fundamental transformation through the strategic adoption of distributed systems architecture, fundamentally altering how institutions design, deploy, and scale their product offerings. Traditional banking infrastructure, characterized by monolithic architectures and centralized processing systems, increasingly struggles to meet contemporary demands for real-time processing, continuous availability, and seamless scalability. Distributed systems address these challenges through horizontal scaling capabilities, enabling institutions to accommodate exponential growth in transaction volumes without proportional infrastructure cost increases. The implementation of distributed computing has enabled comprehensive portfolios of digital-first financial products, including mobile banking platforms, real-time transaction processing systems, AI-driven financial advisory services, intelligent customer support solutions, and advanced fraud detection mechanisms. These systems demonstrate superior resilience through redundancy and fault isolation, achieving exceptional availability levels through multi-region deployment strategies. Future developments in distributed financial systems encompass blockchain integration, decentralized finance protocols, advanced artificial intelligence capabilities, and edge computing with IoT integration. However, implementation presents complex technical challenges, including data consistency maintenance, security considerations, regulatory compliance across multiple jurisdictions, operational complexity, and performance optimization requirements that institutions must carefully navigate to realize distributed computing benefits effectively.
This interim report provides a comprehensive overview of stakeholder perspectives on the opportunities and risks associated with the development and administration of fintech, distributed ledger technology and artificial intelligence in Aruba. The Government of Aruba aims to diversify its economy away from its reliance on tourism by developing its information and communications technology (ICT) sector. The report is based on consultations with stakeholders from the public and private sectors, civil society and academia, conducted during an on-site mission in February 2025. Key findings highlight the potential for Aruba to become a base for export-oriented ICT services, leveraging its strong infrastructure and well-trained labour force. However, challenges have also been identified, including regulatory and institutional constraints, limited job opportunities and the risk of brain drain. The report emphasizes the need for a supportive regulatory environment and targeted initiatives to foster innovation and competition in the ICT sector, ultimately contributing to Aruba's economic diversification and resilience.
Cryptocurrencies, introduced by Nakamoto (2008), have emerged as transformative financial instruments. In India, retail investors are increasingly drawn to crypto assets, despite persistent regulatory uncertainty (Reserve Bank of India, 2019). Research suggests that perceived high returns (Tapscott & Tapscott, 2016) and technological appeal (Narayanan et al., 2016) drive adoption, while lack of clarity in regulation (OECD, 2020) and low financial literacy (Lusardi & Mitchell, 2014) act as key deterrents. This study examines the influence of demographic factors, awareness, and regulatory perceptions on adoption behavior among 120 Indian retail investors. Using descriptive statistics, chi-square tests, and Pearson correlation, the study finds a significant association between awareness and adoption, with regulatory concerns and fraud fears cited as major barriers. The findings underscore the urgent need for a structured regulatory framework and targeted investor education.
Smart cities use advanced infrastructure and technology to improve the quality of life for their citizens. Collaborative services in smart cities are making the smart city ecosystem more reliable. These services are required to enhance the operation of interoperable systems, such as smart transportation services that share their data with smart safety services to execute emergency response, surveillance, and criminal prevention measures. However, an important issue in this ecosystem is data security, which involves the protection of sensitive data exchange during the interoperability of heterogeneous smart services. Researchers have addressed these issues through blockchain integration and the implementation of smart contracts, where collaborative applications can enhance both the efficiency and security of the smart city ecosystem. Despite these facts, complexity is an issue in smart contracts since complex coding associated with their deployment might influence the performance and scalability of collaborative applications in interconnected systems. These challenges underscore the need to optimize smart contract code to ensure efficient and scalable solutions in the smart city ecosystem. In this article, we propose a new framework that integrates generative AI with blockchain in order to eliminate the limitations of smart contracts. We make use of models such as GPT-2, GPT-3, and GPT4, which natively can write and optimize code in an efficient manner and support multiple programming languages, including Python 3.12.x and Solidity. To validate our proposed framework, we integrate these models with already existing frameworks for collaborative smart services to optimize smart contract code, reducing resource-intensive processes while maintaining security and efficiency. Our findings demonstrate that GPT-4-based optimized smart contracts outperform other optimized and non-optimized approaches. This integration reduces smart contract execution overhead, enhances security, and improves scalability, paving the way for a more robust and efficient smart contract ecosystem in smart city applications.
Proposes are offered Decentralized Ledger Journalism (DLJ) as a distinct and timely subfield within data journalism, emerging at the intersection of technological innovation and investigative practice. Drawing on the unique affordances of blockchain and other distributed ledger technologies (DLT), this approach positions public, immutable records not merely as supplementary datasets, but as primary sources for journalistic inquiry. From financial transactions and smart contract events to decentralized governance and identity systems, distributed ledgers offer a new evidentiary terrain - structured, transparent, and resistant to alteration. Beyond their utility as data sources, these systems provide native mechanisms for content authentication, including cryptographic timestamping, verifiable provenance, and censorship-resistant publication infrastructures. Such tools enable new methods of verification and preservation, allowing journalists to secure both the integrity of their sources and the durability of their outputs. By exploring the methodological and epistemological implications of blockchain-based journalism, this study outlines how decentralized ledgers can serve both as subject and substrate of inquiry. DLJ, we argue, offers a novel framework for enhancing journalistic integrity in a digital environment increasingly shaped by opacity, manipulation, and central control.
Yangchun Xiong, Li Ding, Shu Guo, Tsan‐Ming Choi · 5 authors
ABSTRACT Smart contracts, enabled by blockchain technology, are increasingly adopted by firms to automate the execution of agreements or contracts without the involvement of intermediaries. However, it is still unclear how smart contracts may affect firms' operational efficiency. We address this issue empirically by conducting a quasi‐natural experiment in the United States in which certain states have enacted relevant laws that increase in‐state firms' propensity to adopt and use smart contracts. Our difference‐in‐differences estimation suggests that compared with out‐of‐state control firms, in‐state treatment firms' operational efficiency increases significantly after the enactment of smart contract laws. Our post hoc analysis further suggests that state‐level smart contract laws help increase in‐state firms' actual smart contract activities, which in turn lead to operational efficiency improvement. We also find that the operational efficiency improvement varies across firms with different supply chain complexities. While firms with a large number of supply chain partners (i.e., high horizontal complexity) gain more operational efficiency improvement, the improvement becomes less pronounced if firms' supply chain partners are distributed across different countries (i.e., high spatial complexity). Overall, our research not only demonstrates smart contracts' ability to improve operational efficiency but also reveals the critical role of supply chain complexity in affecting the operational efficiency improvement.
Roy Kanavheti, Wellington Makondo, Wellington Simbarashe Manjoro
Academic qualification forgery poses a major concern for higher learning institutions, employers, and regulatory authorities throughout the world. In Zimbabwe, the increase in the level of fake degrees has greatly eroded trust in the education industry. Conventional verification processes are time-consuming, manual, and highly vulnerable to tampering. This paper introduces a hybrid blockchain-based and AI-enabled academic qualification verification platform to fight the problems. A prototype was implemented integrating various artificial intelligence algorithms including Convolutional Neural Networks (CNN), Autoencoder, Random Forest, and One-Class Support Vector Machines (SVM) with Algorand blockchain for secure, transparent, and decentralized record keeping. Zero-Knowledge Proofs (ZKPs) were utilized to ensure privacy. The system was tested based on a mixed-methods and Design Science Research (DSR) approach across many performance measures. Results show fraud detection accuracy, near-instantaneous verification speed, and satisfaction with privacy standards. The proposed system provides a sustainable and scalable framework for enhancing academic integrity in Zimbabwe's higher education system and primes the region for digital transformation of education.
Joel Sepúlveda, Amanda Lemette, Karla Ohler-Martins
The rise of cryptocurrencies and decentralised finance (DeFi) has fuelled a fast-growing digital assets economy with major environmental and financial implications. Proof-of-work (PoW) systems like Bitcoin demand high energy and emit large volumes of CO₂, while proof-of-stake (PoS) alternatives such as Ethereum and Cardano significantly reduce environmental costs. This paper analyses seven major crypto projects: Ethereum, Uniswap, Aave, Maker, Cardano, XRP, and Stellar. It focuses on their energy consumption, financial performance, and sustainability. The study proposes a novel sustainability scoring framework to support ESG-aligned investment and regulatory design. While PoW offers unmatched security, its environmental toll is unsustainable. PoS models show promise but face governance and scalability concerns. The study highlights the urgent need for sustainable innovation and regulatory differentiation to align crypto markets with climate goals, investor expectations, and long-term economic viability.
The present study aims to analyze the return and risk performance ofselected cryptocurrencies in orderto find out which cryptocurrencies have small risks and large returns. The research time period is 2017 to 2022. The objective of this research is to compute and compare the risk and return performance of the selected cryptos. The findings of this research are that the risk is very high in Bitcoin compared to Ethereum, as shown in the data analysis, and Ethereum has high returns. Before starting an investment, it is better to look at the ability of Cryptocurrency assets to minimize risks and make sure that the investment objectives are for the long and short term.
Kaharuddin Kaharuddin, Asep Saepudin Jahar, Arta Amaliah Nur Afifah
Blockchain technology introduces an innovative approach to waqf governance by incorporating smart contracts based on distributed ledger technology and encryption security. This advancement enhances administrative services and strengthens public trust in waqf management. This research uses a qualitative descriptive approach based on a literature review to explore the benefits of applying blockchain technology in waqf governance. The findings reveal that blockchain technology significantly improves the previously unstructured waqf governance system. By enabling encrypted and decentralised transaction recording, blockchain ensures transparent management of waqf funds, facilitates efficient tracking of fund status, and prevents data manipulation. Additionally, blockchain enhances the efficiency and security of transactions, paving the way for an innovative and digital waqf ecosystem. The technology also promotes financial inclusion by expanding public access to participate in waqf initiatives. This broader participation contributes to poverty alleviation (SDG 1) and reduces economic disparities (SDG 10) through waqf funds’ transparent and accountable distribution. Integrating blockchain technology into waqf governance offers a transformative solution for advancing transparency, efficiency, and inclusivity in Sharia financial systems.
Zahiduzzaman Zahid, Ruhul Amin, Ibrahim Khalil, Basharat Ali Khan Mohammed · 5 authors
This paper investigates the intersection of MiCA and Islamic finance by conducting a comparative regulatory analysis, focusing on core areas such as stablecoin structures, decentralized finance (DeFi), smart contracts, and ethical governance. It critically examines MiCA’s reserve and redemption frameworks for asset-referenced tokens (ARTs) and e-money tokens (EMTs) against Shariah mandates of asset-backing, risk-sharing, and prohibition of riba (interest) and gharar (excessive uncertainty). The analysis further explores the legal and ethical tensions between MiCA’s treatment of decentralized assets and Islamic jurisprudence, especially regarding profit-sharing models like Mudarabah and Musharakah. It highlights challenges Islamic fintechs operating within the EU face, including the lack of recognition for Shariah boards and faith-based audit systems under MiCA. The study concludes by proposing policy recommendations for greater inclusivity, including potential amendments to MiCA that accommodate ethical finance models and support Islamic digital financial innovation. The findings contribute to the global discourse on harmonizing digital asset regulation with diverse ethical and religious frameworks, offering valuable insights for regulators, scholars, and Islamic financial institutions
This paper presents Wrapless -- a lending protocol that enables the collateralization of bitcoins without requiring a trusted wrapping mechanism. The protocol facilitates a "loan channel" on the Bitcoin blockchain, allowing bitcoins to be locked as collateral for loans issued on any blockchain that supports Turing-complete smart contracts. The protocol is designed in a way that makes it economically irrational for each involved party to manipulate the loan rules. There is still a significant research area to bring the protocol closer to traditional AMM financial instruments.
This research examines the impact of Bitcoin adoption as a cryptocurrency on financial stability in Indonesia. It analyses potential systemic hazards and how banks might effectively handle these risks. Bank Indonesia, the central bank, has articulated apprehensions over the volatility of Bitcoin and its potential ramifications on the nation's monetary aggregates and financial stability. The study seeks to elucidate the implications of cryptocurrency integration into the Indonesian financial system. The research utilises a quantitative approach, integrating a data analysis method. We gather data from financial institutions, regulatory authorities, and Bitcoin users in Indonesia to assess the impact of Bitcoin on financial stability. The findings suggest that, although Bitcoin presents potential advantages like enhanced financial inclusion and innovation, it also entails considerable dangers. These encompass market volatility, cybersecurity concerns, and regulatory obstacles. The study identifies critical areas where banks must improve risk management practices to mitigate them. A significant component of this research is the identification of specialised risk management solutions especially adapted to the Indonesian setting, such as the integration of local regulatory frameworks with international standards and best practices.
ABSTRACT Using a text‐based measure of peer opinions constructed from cryptocurrency‐related social media posts, we find that peer opinions contain valuable information about the prices of cryptocurrency options. Bitcoin options exhibit a volatility smile, which becomes steeper when peer opinions become bearish. The risk‐neutral skewness of Bitcoin returns implied by options prices becomes more negative in times of bearish opinions. The predictability of peer opinions for Bitcoin option prices remains robust after controlling for momentum, volatility, demand pressures, news effects, and other sentiment measures, and exhibits no evidence of reversal over time. This effect is pronounced when Bitcoin attracts high investor attention, more diverse opinions about Bitcoin are expressed on social media, and Bitcoin options are more actively traded. We find similar results for Ethereum options.
Blockchain technology has reshaped digital finance, enabling decentralized applications (DApps) on platforms like Ethereum. However, these innovations have also facilitated fraudulent schemes such as Ponzi schemes, which deceive users with false promises of high returns. These schemes cause financial losses and weaken trust in blockchain systems. Existing detection methods face key challenges, including limited labeled data, over-reliance on transaction history, and failure to identify scams early. To address these issues, we propose a framework that combines static and dynamic features of smart contracts for early Ponzi detection. Our feature set includes opcode patterns, developer behavior, temporal trends, and metadata, crafted to work independently of transaction data. We enhance feature representation using TF-IDF, CountVectorizer, and Word2Vec for deeper semantic understanding. These features are used to train multiple machine learning and deep learning models such as Random Forest, XGBoost, CNNs, and BiGRUs. A stacking ensemble with a neural meta-learner integrates predictions for improved performance. The model achieves 99% accuracy and an AUC of 0.9522 on a curated Ethereum dataset, handling class imbalance through oversampling and synthetic data generation. We also employ SHAP for model explainability, offering insights into feature importance and promoting transparency. Our framework is scalable and supports real-time monitoring of contracts, helping prevent financial damage by detecting fraud at deployment. This solution enhances the security and reliability of decentralized finance platforms.
Survival modeling predicts the time until an event occurs and is widely used in risk analysis; for example, it's used in medicine to predict the survival of a patient based on censored data. There is a need for large-scale, realistic, and freely available datasets for benchmarking artificial intelligence (AI) survival models. In this paper, we derive a suite of 16 survival modeling tasks from publicly available transaction data generated by lending of cryptocurrencies in Decentralized Finance (DeFi). Each task was constructed using an automated pipeline based on choices of index and outcome events. For example, the model predicts the time from when a user borrows cryptocurrency coins (index event) until their first repayment (outcome event). We formulate a survival benchmark consisting of a suite of 16 survival-time prediction tasks (FinSurvival). We also automatically create 16 corresponding classification problems for each task by thresholding the survival time using the restricted mean survival time. With over 7.5 million records, FinSurvival provides a suite of realistic financial modeling tasks that will spur future AI survival modeling research. Our evaluation indicated that these are challenging tasks that are not well addressed by existing methods. FinSurvival enables the evaluation of AI survival models applicable to traditional finance, industry, medicine, and commerce, which is currently hindered by the lack of large public datasets. Our benchmark demonstrates how AI models could assess opportunities and risks in DeFi. In the future, the FinSurvival benchmark pipeline can be used to create new benchmarks by incorporating more DeFi transactions and protocols as the use of cryptocurrency grows.
Wallets are access points for the digital economys value creation. Wallets for blockchains store the end-users cryptographic keys for administrating their digital assets and enable access to blockchain Web3 systems. Web3 delivers new service opportunities. This chapter focuses on the Web3 enabled release of value through the lens of wallets. Wallets may be implemented as software apps on smartphones, web apps on desktops, or hardware devices. Wallet users request high security, ease of use, and access of relevance from their wallets. Increasing connectivity, functionality, autonomy, personal support, and offline capability make the wallet into the user's Universal Access Device for any digital asset. Through wallet based services, the owner obtains enhanced digital empowerment. The new Web3 solutionareas, Identity and Decentralisation, enable considerable societal effects, and wallets are an integral part of these. One example is self sovereign identity solutions combined with wallet borne AI for personalised support, empowering the enduser beyond anything previously known. Improved welfare is foreseen globally through enlarged markets with collaborative services with drastically lowered transaction costs compared to today, the expected vastly increased levels of automation in society necessitate enhanced enduser protection. As wallets are considered a weak spot for security, improving overall security through blockchains is essential.
Ferdous Ahmmed, Boakye Yam Boadi, Michael Guillemette
This study examined the relationship between margin trading and cryptocurrency investment using data from the 2018 and 2021 waves of the National Financial Capability Study (NFCS) Investor Survey. Guided by behavioral finance theory, which suggests that cognitive biases may influence risk-taking, the study explored whether margin loan use and margin calls are associated with higher cryptocurrency participation. Margin loans are inherently risky, as they must be repaid regardless of investment outcomes, and margin calls are triggered when an investor’s equity falls below a required threshold. The results showed a positive and statistically significant association between margin activity and cryptocurrency investment. Specifically, individuals with a margin loan were 17 percentage points more likely to invest in cryptocurrency, while those who have experienced a margin call were 23 percentage points more likely. Given the extreme volatility of cryptocurrencies, these results highlight the increased risks investors face when using leverage in speculative markets. The analysis is based on cross-sectional data from U.S. investors; therefore, the findings should be interpreted as correlational rather than causal.
Finance, supply chain, and decentralized applications are some of the industries that have undergone a revolution in relation to blockchain technology, and smart contracts are at the center of this revolution. Smart contracts are computer protocols that are programmed on blockchain systems and which allow transparency, immutability, and decentralization. Nonetheless, governance in a blockchain is a problem area, because the conventional centralized systems are inconsistent with its decentralised characteristic. This article discusses self-governance of blockchain whereby decision making is computerized using smart contracts to achieve decentralized regulations. It reviews the prevailing conditions in blockchain governance, issues and the way smart contracts would enhance transparency, efficiency and security. Also provided in the study are the advantages and drawbacks of decentralized governance, which includes issues of scalability and security, and the möbius strip connection between autonomous governance and blockchain platforms. Moreover, it assesses the place of decentralized autonomous organizations (DAOs) in blockchain governance and the issues of their implementation.
Smart cities present a transformative paradigm for urban development, yet securing sustainable financing remains a critical challenge. While traditional funding mechanisms struggle with scalability limitations, FinTech innovations like Initial Coin Offerings (ICOs) have emerged as a viable alternative. Leveraging blockchain technology, ICOs enable decentralized capital raising through token sales, offering transparency and global investor access. However, their effectiveness is compromised by market volatility, information asymmetry, and the absence of reliable predictive frameworks. This study addresses these limitations by developing an explainable hybrid machine learning model that combines: (1) Light Gradient Boosting Machine (LGBM) for efficient feature selection through histogram-based learning, (2) Optuna-optimized Extremely Randomized Trees regression that mitigates overfitting via enhanced randomization while excelling with noisy financial data, and (3) interpretability tools including SHAP values and feature importance analysis. Optuna's automated hyperparameter optimization further enhances computational efficiency, enabling robust predictions of post-ICO returns. The proposed model demonstrates superior predictive performance (R²=0.814, MSE=0.005, MAE=0.051), significantly outperforming both linear regression and state-of-the-art ML models. Key findings identify token supply (63% predictive power) as negatively correlated with returns - reflecting dilution effects and investor perceptions of scarcity- while fundraising success (15%) and Bitcoin returns (8%) show positive influences. These results provide practical guidance for investors and regulators, while establishing ICOs as a potential sustainable financing mechanism for smart city initiatives. The study contributes both methodologically through its optimized hybrid architecture and practically by enhancing decision-making in blockchain-based urban development financing.
This paper sets out to explore how blockchain-based technologies, particularly non-fungible tokens (NFTs), are influencing future business models. Drawing on the relevant literature and a multiple case study of blockchain ventures, we demonstrate how the technology leads to new polyadic mechanisms of value creation and value capture. A clarification of NFTs and related concepts, together with their use values and exchange value determinants, led us to argue that the polyadic mechanisms differ from those in dyadic and triadic business models. Overall, we identify a total of 39 NFT technology affordances that fall into four types: utility, social, financial, and legal affordances. In addition, the NFT business ecosystem is mapped in terms of sources of generativity, mixed-side network effects, and the convergence of complementors within the ecosystem. Finally, this study explores three distinct mechanisms of stakeholder collaboration using NFTs: token distribution and fundraising, polyadic value creation and capture, and smart contract-enabled facilitation of stakeholder interactions. Based on the insights, we discuss the impact of NFTs and blockchain technology on society (illustrated by two cases of NFT ticketing and decentralized apps), and the implications for theory, practice, and policy. • Blockchain technology enables newly emerging business models with polyadic relationships. • Novel business models in Web 3.0 environments involve multiple use values and exchange value determinants. • NFT Technology affordances identified in terms of utility, social, financial, and legal affordances. • The emerging ecosystem is characterized by sources of generativity, mixed-side network effects, and convergence.
Yusuf Oli Rahat, Md Kamrul Islam, Shah Farhan Rabbani
Blockchain-based financial systems are increasingly evaluated not only as speculative infrastructures but as operational payment, settlement, and record-keeping networks that can be benchmarked against incumbent financial rails. This paper develops a quantitative, data-driven framework for assessing blockchain-based financial systems across four dimensions that matter in global markets: transaction efficiency, transparency, cost optimization, and overall performance resilience. Drawing on evidence from public blockchain networks, payment and remittance statistics, policy experiments, and institutional distributed-ledger pilots, the study synthesizes academic literature with world data from the World Bank, the Federal Reserve Bank of New York, the Bank for International Settlements, Visa, Bitcoin, Ethereum, and Solana documentation and analytics. The paper proposes a metrics architecture that combines latency, throughput, fee burden, settlement certainty, auditability, availability, governance quality, and interoperability into a unified comparative scorecard. It then applies the framework to three categories of blockchain-based finance: public permissionless chains, permissioned institutional distributed ledgers, and hybrid tokenized payment systems. The evidence suggests that blockchain systems create measurable gains in traceability, programmability, and atomic settlement, especially in cross-border and multi-party workflows where reconciliation frictions are costly. However, these gains are uneven. Public chains often face volatility in fees, congestion risk, and governance externalities, while permissioned systems improve control and compliance at the expense of openness and composability. The paper argues that the relevant policy and managerial question is therefore not whether blockchain is universally superior, but under which transaction environments it dominates legacy systems on speed, transparency, cost, and operational risk. The study concludes with a research agenda for standardized blockchain performance metrics, institution-grade benchmarking, and explainable analytics for digital financial infrastructure.
Nguyen Thi Kim, Ho Thi Hien, Vu Thien Bach, Bui Hong Cuong · 5 authors
In Vietnam, the digital banking model has undergone rapid development in recent years. This paper evaluates the current state of digital banking development in Vietnam from several aspects: (i) the legal framework for digital banking development; (ii) market participants in the digital banking sector; (iii) methods of digital banking development; and (iv) the quality of digital banking services, thereby identifying the current level of digital banking development in Vietnam. According to the research team's assessment, digital banking in Vietnam is currently in the formative stage, with significant potential for growth. The application of digital technology in banking operations in Vietnam has had a positive impact on operational models, driving a strong transformation in internal business systems and in the provision of advanced products and services to customers. The application of digital technology in banking is considered the next phase after digitalization in the digital transformation process, serving as an important support for the digital banking strategy of the banking industry. This study aims to discuss digital technologies applied in banking operations, such as Artificial Intelligence (AI), Machine Learning (ML), the Internet of Things (IoT), Big Data, Cloud Computing, Distributed Ledger Technology (DLT), Blockchain, Biometrics, and the products and services created by financial technology companies (Fintech). The application of Big Data in banking is particularly significant for building and managing data resources in the finance and banking sector. Currently, an increasing number of banks are adopting Big Data in their operations to keep pace with the rapid development of modern society, where customers seek simplified, fast, and convenient procedures. Big Data is a powerful tool that can help banks achieve this goal. However, the implementation of Big Data in banks still faces certain challenges.