This article explores the metaverse in depth, from the literature to the latest technology trends. Key concepts such as Web3, blockchain, AI, VR, AR, haptic technology and the IoT are examined, framing the metaverse as a new space for human and digital interaction in an immersive 3D environment. It highlights how technological development has fostered debate on the prospects of the metaverse, which represents a new virtual frontier where human and digital interaction merge in an immersive environment. This sensory medium raises questions about human rights, especially in relation to privacy, property and digital identity, consequently, the following problem is formulated: To what extent is the protection of Human Rights appropriate within the metaverse?. Thus, the research was carried out using a qualitative methodology, which included an exhaustive analysis of the existing literature on human rights and emerging technologies, as well as case studies on virtual environments. Finally, it concludes by emphasizing the need for a multidisciplinary approach to address the challenges of the metaverse, highlighting the importance of protecting human rights in this new digital environment.
Završni rad opisuje izradu web3 aplikacije za vođenje projekata unutar tvrtke koja pruža sigurno pohranjivanje dnevnih zadataka i poruka zaposlenika na blockchainu. Rad istražuje primjenu blockchain tehnologije i njene prednosti, kao što su sljedivost i transparentnost podataka. Korištenjem Node.js platforme, Express.js okvira te Solidity pametnih ugovora, aplikacija omogućuje administraciju projekata i praćenje zadataka na Volta testnoj mreži. Opisane su ključne funkcionalnosti aplikacije, uključujući mogućnost postavljanja projekata na blockchain te pohranjivanje komunikacije između zaposlenika pomoću Metamask sučelja. Rad također ističe sigurnosne aspekte pohranjivanja podataka na blockchain te potencijalne nedostatke kao što su sporost zapisivanja i troškovi transakcija. Kroz rad je demonstrirana implementacija web3 tehnologija te prikazana njihova primjena u stvarnom poslovnom okruženju.
Peter Howson, Antulio Rosales, Olivier Jutel, Inte Gloerich · 8 authors
This paper explores how so-called ‘Web3’ blockchain projects are materially and socially constituted. A blockchain is an append-only distributed database. The technology is being hyped as applicable for a whole range of industries, social service provisions, and as a fix for economic disparities in communities left behind by mainstream financial systems. Drawing on case studies from our ongoing research we explain how, despite being virtual, Web3 projects are dependent on clearly defined spaces of production from which they derive their speculative value. We conceptualise this relationship as Crypto/Space, where space and blockchain software are mutually constituted. We consider how Crypto/Spaces are produced in three ways: 1) how project developers are adopting a parasitic relationship with host locations to appropriate energy, infrastructure, and local resources; 2) how projects enable ‘virtual land grabs’ where developers are engaging in land acquisitions, and associated displacement of local people, with no real intention to use the land for the declared purpose; and 3) how blockchain technology and speculative finance imaginaries are inspiring new anarcho-capitalist crypto-utopian ‘Exit zones’, often in the Global South. Far from being a zero-sum virtual game world, we argue that cryptocurrency projects are parasitic, often requiring predation on poor and otherwise marginalised communities to appropriate resources, onboard new users and enable favourable regulation.
A niche corner of the Web3 world is increasingly making use of hardware-based Trusted Execution Environments (TEEs) to build decentralized infrastructure. One of the motivations to use TEEs is to go beyond the current performance limitations of cryptography-based alternatives such as zero-knowledge proofs (ZKP), fully homomorphic encryption (FHE), and multi-party computation (MPC). Despite their appealing advantages, current TEEs suffer from serious limitations as they are not secure against physical attacks, and their attestation mechanism is rooted in the chip manufacturer's trust. As a result, Web3 applications have to rely on cloud infrastruture to act as trusted guardians of hardware-based TEEs and have to accept to trust chip manufacturers. This work aims at exploring how we could potentially architect and implement chips that would be secure against physical attacks and would not require putting trust in chip manufacturers. One goal of this work is to motivate the Web3 movement to acknowledge and leverage the substantial amount of relevant hardware research that already exists. In brief, a combination of: (1) physical unclonable functions (PUFs) to secure the root-of-trust; (2) masking and redundancy techniques to secure computations; (3) open source hardware and imaging techniques to verify that a chip matches its expected design; can help move towards attesting that a given TEE can be trusted without the need to trust a cloud provider and a chip manufacturer.
This article explores how decentralized Web3 is reshaping Internet governance by enabling the emergence of new forms of nation-statehood and redefining traditional concepts of state sovereignty. Based on fieldwork conducted in Silicon Valley since August 2022, this article systematically addresses the following research question: How is decentralized Web3 reshaping Internet governance and influencing the rise in new nation-statehood paradigms? It compares three emerging paradigms around Web3: (i) Network States (Srinivasan), envisioning digital entities rooted in crypto-libertarian principles; (ii) Network Sovereignties (De Filippi), emphasizing communal governance aligned with digital commons; and (iii) Algorithmic Nations (Calzada), drawing on Arendtian thought and demonstrating how communities—such as indigenous and stateless groups, as well as e-diasporas—can attain self-determination through data sovereignty. This article contributes a unique conceptual analysis of these paradigms based on fieldwork action research in Silicon Valley, responding to evolving technologies and their potential to reshape Internet governance. This article argues that decentralized Web3 provides a transformative vision for Internet governance but requires careful evaluation to ensure that it promotes inclusivity and equity. It advocates for a hybrid approach that balances global and local dynamics, emphasizing the need for solidarity, digital justice, and an internationalist perspective in shaping future Internet governance protocols.
David F. Bucher, Jens Hunhevicz, Ranjith K. Soman, Pieter Pauwels · 5 authors
The field of construction informatics is fragmented and lacks clarity in understanding the interconnection of different data management strategies. This makes it challenging to address industry-specific data management issues. Using a critical interpretive synthesis, this study reviews and integrates both present and emerging data management approaches in construction informatics. The review is meant to be comprehensive, encompassing technologies and concepts such as Open Schema, Information Container, Common Data Environments, Linked Data, as well as cutting-edge Web3 technologies such as blockchain and decentralized data protocols. The different approaches are identified and classified into five categories and mapped into a two-dimensional framework that considers data storage and data processing modes. The systematic categorization provides a simple, but comprehensive understanding of data management strategies in construction informatics. Moreover, the framework allows to identify the state of the art and trends of data management approaches, providing guidance for future research perspectives, especially in the intersection with Web3 technologies.
In a time of ecological and social crises, designing new institutions is crucial for meeting future challenges. Institutions emerge from the imaginations of individuals, moving into social movements and crystallizing in legal structures. As present movements seek to develop tomorrow’s governances, they turn to decentralized structures: distributed networks with little hierarchy, characterized by a diversity of actors and dynamics. While movements and technologies may seek to utilize decentralized ideas, they lack design principles: only recently has it been possible to decentralize at the national stage. Designs may come from biology and ecological networks; fungi, plants, and slime molds in soil to the neurons, glia, and blood vessels within our own bodies. This article blends these biological analogies with present technologies like blockchain and Web3 to posit future decentralized institutions, movements and legalities that give greater consideration to the more-than-human world.
The advent of Web3 technologies promises a paradigm shift toward decentralized and autonomous economic interactions enabled by blockchain and smart contracts. However, the lack of robust trust and reputation mechanisms hinders its evolution into a fully functional economic system. This paper introduces the Dmany Nexus Protocol, a decentralized reputation system that quantifies user trustworthiness through verified on-chain and off-chain actions. By integrating principles from information economics, game theory, and mechanism design, the protocol addresses issues of information asymmetry, moral hazard, and adverse selection inherent in decentralized networks. Leveraging the Dmany Quest Engine for decentralized task management and employing zero-knowledge proofs for privacy preservation, Dmany Nexus establishes a foundation for trust and cooperation in the Web3 ecosystem. The protocol enhances economic efficiency, mitigates security risks like Sybil attacks, and fosters mass adoption by enabling secure, privacy-preserving interactions among pseudonymous actors.
The growing digitization of education presents significant challenges in maintaining the integrity and trustworthiness of educational content. Traditional systems often fail to ensure data authenticity and prevent unauthorized alterations, particularly in the evaluation of teachers' professional activities, where demand for transparent and secure assessment mechanisms is increasing. In this context, Blockchain technology offers a novel solution to address these issues. This paper introduces a Blockchain-enhanced framework for the Electronic Platform for Expertise of Content (EPEC), a platform used for reviewing and assessing educational materials. Our approach integrates the Polygon network, a Layer-2 solution for Ethereum, to securely store and retrieve encrypted reviews, ensuring both privacy and accountability. By leveraging Python, Flask, and Web3.py, we interact with a Solidity-based smart contract to securely link each review to a unique identifier (UID) that connects on-chain data with real-world databases. The system, containerized using Docker, facilitates easy deployment and integration through API endpoints. Our implementation demonstrates significant cost savings, with a 98\% reduction in gas fees compared to Ethereum, making it a scalable and cost-effective solution. This research contributes to the ongoing effort to implement Blockchain in educational content verification, offering a practical and secure framework that enhances trust and transparency in the digital education landscape.
As the digital landscape evolves, the rise of Web3 and decentralized applications (dApps) is reshaping the future of web development. At the center of this transformation is JavaScript, a programming language that has remained a cornerstone of web development for decades. In the context of Web3, JavaScript continues to play a critical role by enabling seamless interaction with blockchain networks and smart contracts. This article explores the importance of JavaScript in the development of decentralized applications, its integration with blockchain technologies, and its continued adaptability in the ever-growing Web3 ecosystem. From popular libraries like Web3.js and Ethers.js to emerging trends such as decentralized finance (DeFi) and NFTs, JavaScript proves to be a versatile tool in the decentralized web revolution. However, the shift to Web3 also presents challenges for JavaScript, including scalability, security, and performance concerns. This article provides a comprehensive overview of JavaScript’s role in the future of web development, offering insights into both its opportunities and limitations in the decentralized era.
This chapter presents a research perspective that explores the transformative impact of blockchain technology on Behavioral and Experimental Economics. It addresses critical digital challenges such as subject identity verification and privacy, trust in researchers, and the design of experimental incentives. By advocating for a blockchain-integrated framework, the chapter aims to enhance data authenticity, privacy, and incentivization through decentralized mechanisms and smart contracts, thereby ensuring research that is transparent, tamper-proof, and practical. Additionally, the chapter proposes a paradigm shift toward a “play to learn” model, which bridges decentralized science with the realm of gaming finance to advance research and development. This integration signals a new era of interdisciplinary research, offering profound insights into human behavior within the digital economy and illuminating new research pathways that connect Web2 to Web3 environments.
Maria do Rosário de Fátima Martins Ferreira, Bernardo Ferreira de Moura Ribeiro, Alcemir Rodrigues Santos, Ricardo de Andrade Lira Rabêlo
Blockchain technology is no longer just about cryptocurrencies.Companies are increasingly exploring the use cases available to increase the added value of their products and services, as well as improving the security and strengthening the trust of their systems.However, developing and maintaining applications based on this technology is still a major challenge, especially when it comes to integrating them with various web applications, what are now known as Web3 applications.Hyperledger FireFly has emerged as a solution with the potential to ease new developers onto the path of developing such applications.Considering the scarcity of teaching material, as well as learning opportunities for beginners in this technology, this chapter proposes an introductory experience for this target audience to get started in the development of Web3 applications.
This study addresses the substantial gap in the academic literature on blockchain technology literacy by proposing a Blockchain Technology Literacy Test (BTLT). Through a comprehensive literature review of eight databases, only nine publications with limited focus on blockchain technology literacy were identified. The inconsistency in definitions and predominant emphasis on cryptocurrency literacy further complicate the development of standardized assessments. Based on the results of the literature review and the development of the BTLT, with a focus on terms and technological aspects, an updated list of cryptocurrency literacy questions was proposed as the Cryptocurrency Literacy Test (CLT) to avoid duplications and redundancy in the assessment of relevant blockchain technology and cryptocurrency-related knowledge. The BTLT and CLT aim to distinguish between blockchain technology and cryptocurrency literacy, thereby ensuring comprehensive and accurate assessments. The findings emphasize the need for clear definitions and frameworks within the blockchain ecosystem and call for expanded research to include emerging applications, such as DeFi, DeSci, DAOs, and Web3. This study provides a foundation for future educational efforts and literacy assessments in blockchain technology and cryptocurrencies.
Nowadays, federated recommendation technology is rapidly evolving to help multiple organisations share data and train models while meeting user privacy, data security and government regulatory requirements. However, federated recommendation increases customer system costs such as power, computational and communication resources. Besides, federated recommendation systems are also susceptible to model attacks and data poisoning by participating malicious clients. Therefore, most customers are unwilling to participate in federated recommendation without any incentive. To address these problems, we propose a blockchain-based federated recommendation system with incentive mechanism to promote more trustworthy, secure, and efficient federated recommendation service. First, we construct a federated recommendation system based on NeuMF and FedAvg. Then we introduce a reverse auction mechanism to select optimal clients that can maximize the social surplus. Finally, we employ blockchain for on-chain evidence storage of models to ensure the safety of the federated recommendation system. The experimental results show that our proposed incentive mechanism can attract clients with superior training data to engage in the federal recommendation at a lower cost, which can increase the economic benefit of federal recommendation by 54.9\% while improve the recommendation performance. Thus our work provides theoretical and technological support for the construction of a harmonious and healthy ecological environment for the application of federal recommendation.
A gestão esportiva está se tornando mais desafiadora com os avanços tecnológicos a partir das transformações significativas nos modelos de negócios e na interação entre fãs e clubes. A Web3 oferece uma oportunidade para melhorar essa gestão, trazendo maior eficiência, transparência e envolvimento das partes interessadas, podendo revolucionar a interação dos fãs e a monetização de equipes, permitindo uma participação mais ativa de seus torcedores. As Organizações Autônomas Descentralizadas (DAOs) representam uma inovação que pode promover maior transparência, engajamento dos fãs e eficiência na gestão esportiva, introduzindo um novo modelo de governança, possibilitando decisões mais democráticas e colaborativas. No entanto, a adoção dessas tecnologias ainda enfrenta desafios e requer uma mudança cultural no setor esportivo. Objetivo: Verificar, compreender e analisar como a aplicação da Web3 pode auxiliar no potencial dos negócios no setor esportivo com a adoção das tecnologias emergentes. Materiais e métodos: O primeiro estudo consistiu em uma revisão sistemática da literatura utilizando a metodologia PRISMA e EBSE, onde foram analisados 37 estudos primários sobre a aplicação da tecnologia blockchain no esporte. Esse levantamento permitiu um entendimento abrangente das aplicações atuais e do potencial futuro dessa tecnologia no setor esportivo. O segundo estudo, também baseado em uma revisão sistemática, analisou 25 artigos específicos sobre fan tokens, abordando suas características técnicas e seu papel na melhoria da participação dos fãs em decisões menores dos clubes esportivos. No terceiro estudo, foi realizada uma análise correlacional de 20 fan tokens, utilizando dados financeiros e de mercado coletados do site CoinGecko. A análise revelou que a avaliação totalmente diluída (FDV) dos tokens correlaciona-se significativamente com o preço e a capitalização de mercado, indicando que as expectativas futuras estão alinhadas com as avaliações de mercado. Entretanto, a proporção de capitalização do mercado (M/FDV) apresentou correlação negativa, sugerindo que uma menor M/FDV pode indicar uma tendência de aumento nos preços futuros devido à percepção de subvalorização. No quarto estudo, foi proposto um modelo conceitual para a criação e utilização de uma DAO para a gestão de uma entidade esportiva, baseado em princípios de governança e empoderamento da comunidade. Esse modelo destaca a importância de uma abordagem colaborativa entre clubes, fãs, desenvolvedores de tecnologia e reguladores para a concretização do potencial dessas inovações. Conclusão: A partir dos resultados encontrados nos artigos, observou-se que a tecnologia blockchain tem potencial para revolucionar a gestão esportiva, tornando-a mais inclusiva, transparente e eficiente. Os fan tokens destacam-se como uma ferramenta significativa para aumentar o engajamento dos fãs e gerar novas fontes de receita. No entanto, a concretização desse potencial depende de uma abordagem colaborativa entre clubes, fãs, desenvolvedores de tecnologia e reguladores. A dualidade desses ativos, enquanto promovem uma conexão entre os fãs, introduz complexidades técnicas, financeiras e regulatórias que requerem atenção. Pesquisas futuras devem focar na criação de diretrizes regulatórias específicas e na análise do impacto econômico e social dessas inovações para maximizar os benefícios e superar os desafios associados à sua adoção no setor esportivo
WEB3 technologies on network architectures, distributed ledgers and decentralised artificial intelligence represent a transformative shift in how data are handled, stored and shared. These innovations promise to significantly enhance consumer data privacy rights by addressing fundamental vulnerabilities associated with traditional centralised systems and self-custody wallets. Data breaches in traditional systems operated mainly by third parties are more common, resulting in significant data leaks because of centralised storage and excessive data movement, sometimes unnecessarily. Healthcare data breaches have been a growing concern globally. Several hospitals faced operational halts on account of the impact of ransomware on patient care and privacy. WEB3 Wallets are a vital component emerging as a significant force for global financial inclusion, especially in developing economies. They promote inclusion, reduce costs and empower individuals through self-custody. Though major improvements are needed in these wallets, their use is rising steadily. The global cryptocurrency user base is expected to reach over 500 million by 2025, with substantial growth in emerging markets, according to a report by Statista in 2023. This paper introduces a concept beyond cryptocurrencies and finance into everyday real-world use cases that need combinatorial access to a person's holistic data, including financial and health records, genomic data, advanced directives, among others, that need to be privacy protected and shared with specific actors identified for their roles in the WEB3 ecosystem through decentralised identifiers and non-fungible token badges identifying particular recipients. The author introduced the concept at ETHBoston in April 2024, won accolades for a primitive implementation using underlying threshold cryptography technologies, and enhanced it into a conceptual holistic data share application for global healthcare as presented in this paper.
As digital interactions continue to shift toward decentralized platforms, the limitations of centralized identity systems such as data silos, lack of user control, and reliance on intermediaries have become increasingly apparent. This research introduces a structured, multi-layered framework to support the design and implementation of trustless digital identity systems aligned with the principles of Web3. The proposed model integrates five core components: standardized identity protocols, regulatory alignment, user-centric design, trusted institutional participation, and enterprise integration through middleware. Each layer addresses critical challenges such as legal recognition, interoperability, usability, and system scalability. By combining decentralized technologies with practical governance and user experience strategies, the framework aims to enable secure, verifiable, and portable identities that function across jurisdictions and platforms. This paper offers a foundational approach to advancing digital identity infrastructure in a way that is technically robust and socially inclusive
CoinFolks, a Web3-focused multi-platform media company, faces lower engagement and follower metrics compared to competitors in Indonesia.This study analyzes the company's internal and external environments using frameworks like RBV, VRIO, Porter's Value Chain, and SWOT based on primary data from in-depth interviews and secondary data from market trends and competitor strategies.The findings highlight CoinFolks' valuable and unique resources, such as expertise in content creation, research capabilities, educational resources, strong community engagement, and strategic partnerships.The proposed marketing strategy includes enhancing promotional content, leveraging data analytics for targeted marketing, and fostering community ties through interactive formats.These strategies aim to boost CoinFolks' brand awareness and engagement, strengthening its market position and promoting long-term growth in the Indonesian Web3 media landscape.
В умовах стрімкої глобалізації, цифрової трансформації та зростання економічної нестабільності сучасні підприємства стикаються з необхідністю адаптації до змінних ринкових умов, вдосконалення бізнес-процесів та підвищення рівня економічної безпеки. У цьому контексті сучасні технології управління відіграють важливу роль у забезпеченні ефективності діяльності організацій, створенні гнучких стратегічних моделей та мінімізації ризиків. Дослідження Bain & Company та інших авторитетних джерел демонструють актуальність та ефективність використання новітніх управлінських інструментів і трендів, що охоплюють різні аспекти функціонування бізнесу. У статті розглядаються основні категорії управлінських інструментів і трендів. Цифровізація є ключовим драйвером трансформації підприємств, і у цій категорії найпоширенішими інструментами є управління клієнтським досвідом, ШІ та машинне навчання, Agile-менеджмент, Web3 і блокчейн та дизайн-мислення. Високий рівень задоволеності впровадженням цих технологій свідчить про їхню ефективність у підвищенні продуктивності, автоматизації процесів та покращенні взаємодії з клієнтами. Організаційна структура та управління персоналом є критичними факторами стабільності компаній, і у цій категорії найчастіше на підприємствах використовують системи залучення співробітників, програми управління змінами, гнучкі моделі роботи та заяви про мету, місію та бачення. Використання цих інструментів сприяє підвищенню залученості персоналу, ефективному управлінню змінами та формуванню сильної корпоративної культури. Операційна ефективність залишається одним із головних чинників конкурентоспроможності підприємств, і забезпечується такими інструментами та трендами, як управління ланцюгами поставок, загальне управління якістю, реінжиніринг бізнес-процесів, Lean Six Sigma, зменшення складності та бюджетування на нульовій основі, які дозволяють оптимізувати операції, знижувати витрати та забезпечувати стабільний розвиток компаній. Гнучке стратегічне планування та ефективне управління фінансами є необхідними умовами стійкого розвитку бізнесу, і базується на використанні динамічного стратегічного планування та бюджетування, цілях та основних результатах, сценарному аналізі і плануванні на випадок непередбачених ситуацій, збалансованій системі показників, стратегіях зацікавлених сторін та корпоративному венчурному капіталі.
Vivianne de Aquino Rodrigues, http://lattes.cnpq.br/0687613272301770
A tecnologia blockchain pode revolucionar a maneira como as empresas controlam seus negócios, podendo prover soluções para meios de pagamentos seguros, identificação digital e contratos empresariais. Através desse trabalho foi possível integrar diversas áreas de conhecimento, buscando unir conceitos de redes blockchain e contratos inteligentes. Este estudo propõe uma solução, que utiliza a tecnologia Blockchain, para a criação de um sistema de contrato inteligente com multiassinatura de forma serial, sendo inovador pois os participantes não precisam estar logados simultaneamente na mesma plataforma para assinar o contrato. Possui o intuito de mostrar o uso e eficácia das redes blockchain em aplicações empresariais, além de realizar um estudo sobre segurança dessas redes através de uma prova de conceito com Smart Contracts, que supera as limitações e inseguranças das plataformas tradicionais de assinaturas de contratos. Para a criação da interface do contrato utilizou-se a plataforma de desenvolvimento de contratos inteligentes Full Stack Web3 sCrypt-TS, que possibilita ao usuário criar o contrato de maneira ágil e segura. Para assegurar os aspectos relacionados à segurança, foram realizados testes, em diferentes cenários e por fim é gerado uma análise dos resultados encontrados. Com isso, constatou-se que a solução desenvolvida atende as exigências de segurança e confidencialidade do mercado empresarial, bem como possibilita inúmeras pesquisas e aplicações.
With the advent of Bitcoin, a cryptographically-enabled peer-to-peer digital payment system, blockchain together with a whole package of distributed ledger technologies, which serve as the underlying foundation of all the crypto-currencies, have been gaining attention from both academia and industry in the last fifteen years. The recent years have witnessed tremendous momentum in the development of blockchain and distributed ledger technologies, largely due to the impressive rise in the market capital of these digital tokens. More and more industries, from banking and insurance, to supply chain and e-commerce, are quickly realizing the great potential in blockchain technology in efficiency boost, process automation and secure data sharing across otherwise isolated data silos. Furthermore, as the recognition of the data value began to sink in, data assets has become an essential part of the development of enterprises and countries. Blockchain technology is regarded as the foundation of digital economy and provides an effective approach for data ownership, pricing and transactions, which are the core issues of data asset management. However, the potential implications of Blockchain technologies go far beyond their application as the technological backbone for cryptocurrencies. Web3.0, using blockchain as underlying technology, allow for various novel application scenarios, which are built upon distributed consensus and thus are hard to block or censor while providing public verifiability of peer-to-peer transactions without a trusted central party. Web3.0 are expected to become the main front for a plethora of highly expressive applications. To more thoroughly explore the potential of blockchain and web3.0 and promote their progress, SDBD'24 will provide a forum for the most recent blockchain and web3.0 research, innovations, and applications, bridging the gap between theory and practice in the design.
Laura Ricci, Barbara Guidi, Andrea Michienzi, Andrea Tagarelli · 5 authors
Web3 describes the next generation of the Internet, built on top of various technologies, such as Blockchain Technology, Semantic Web, etc. Web3 proposal claims a vision of the Internet that can cut the intermediation of Big tech companies by completely decentralizing the web through blockchain technology, which enables the integration of cryptocurrencies and tokens in many social media platforms, currently referred to as Blockchain Online Social Media (BOSMs) platforms. These give the possibility both to reward users for their social actions and to define Non-Fungible Tokens (NFTs), digital assets representing real-world objects like art, collectibles, music, game items, videos, and even tickets creating a new form of decentralized finance, called Social Finance (SocialFi). BOSMs give users the possibility to monetize and tokenize their social influence, and they act as the common ground for the sale or transfer of NFTs. In this paper, we propose an overview of AWESOME, a framework for advanced analysis of Web3 BOSMs, specifically conceived to suit their nature based on intertwined and stratified social and economic contexts. We highlight the characteristics of the framework by describing the objectives and we present the preliminary results. Furthermore, the paper proposes a classification of current Web3 BOSMs, which improves the literature by taking into account the changes and the new applications of Web3 Social Media, which now include Virtual Worlds and Gaming platforms.
Decentralized Finance (DeFi), a pivotal component of the emerging Web3 landscape, is gaining popularity but remains vulnerable to market manipulations, such as wash trading. Wash trading is an illegal practice, where traders buy and sell assets to themselves within cryptocurrency exchanges to artificially inflate trading volumes and distort market perceptions. However, current research primarily focuses on traditional exchanges based on the Order-book mechanism (similar to stock markets), while ignoring the Automated Market Maker (AMM) exchanges, which dominate over 75% of the market and represent a significant innovation within the DeFi. This study utilizes entity recognition technology to detect wash trading on AMM exchanges within Ethereum-like systems, based on the understanding that colluding addresses (perceived as the same entity) must use ETH for transaction fees and exhibit direct or indirect ETH transfer links. We identify wash trading when addresses with transfer connections almost simultaneously buy and sell assets while their total asset holdings remain nearly constant. This comprehensive blockchain network analysis, compared to focusing solely on transactions within exchanges, unveils covert wash trading activities. Our detection method achieves a 95.9% recall and a 96.7% true negative rate in identifying pools affected by wash trading, demonstrating its superiority over existing methods. Furthermore, we apply our method to 98,945 pools from Uniswap V2 & V3 (the most popular AMM exchanges on Ethereum) and identify 1,070,626 abnormal transactions, totaling $27.51 billion in trading volume. Analysis of these transactions uncovers insights into wash traders’ behaviors, including the utilization of multiple addresses and the dual roles of certain addresses as wash traders and liquidity providers. These insights are crucial for developing more effective strategies to combat fraudulent activities in the DeFi ecosystem and enhance financial scrutiny.