This article explores the complex intersection of technological innovation and privacy considerations in cloud identity management systems. It traces the evolution from traditional authentication methods to sophisticated cloud-based frameworks that now incorporate adaptive authentication, federation protocols, biometric verification, and behavioral analytics. While these advances enhance security and user experience, they simultaneously introduce profound privacy challenges regarding data collection scope, user profiling, and cross-platform tracking. The article examines how regulatory frameworks, industry self-regulation, and stakeholder perspectives shape the governance landscape of digital identity. Drawing on interdisciplinary research, the article reveals how trust formation in digital environments correlates with transparency practices and how trust erosion carries consequences beyond immediate user relationships. Looking forward, emerging technologies like decentralized identity and zero-knowledge proofs offer promising privacy-preserving alternatives, while evolving market dynamics and user expectations create both challenges and opportunities. The article concludes with actionable recommendations for designing and implementing identity systems that achieve an optimal balance between robust security, operational efficiency, and respect for individual privacy rights—a critical imperative for sustainable digital ecosystems in increasingly connected societies.
Smart contracts are revolutionizing financial transactions by automating contractual agreements through blockchain technology, eliminating the need for intermediaries while enhancing security, efficiency, and accessibility across the financial sector. These self-executing protocols operate on predefined conditions, automatically verifying and executing terms without human intervention. Built on distributed ledger technology, smart contracts inherit key blockchain characteristics, including immutability, transparency, and cryptographic security, creating auditable transaction trails that significantly reduce fraud potential. While offering substantial benefits like reduced operational costs, accelerated settlement times, and enhanced financial inclusion, smart contracts face critical challenges, including security vulnerabilities, regulatory uncertainty across jurisdictions, and scalability limitations. Ongoing developments in security approaches like formal verification and specialized auditing firms are addressing vulnerability concerns, while progressive regulatory frameworks are emerging in forward-thinking jurisdictions. The future integration landscape is being shaped by advancements in cross-chain interoperability, Oracle integration for real-world data feeds, layer-2 scaling solutions, AI-enhanced optimization, and hybrid systems combining traditional legal contracts with automated execution. As blockchain technology matures, smart contracts are positioned to fundamentally transform financial infrastructure, contingent upon the continued evolution of security practices and regulatory frameworks.
This research examines the risk profiles of XRPUSD and ADAUSD cryptocurrencies through Value at Risk (VaR) analysis with Monte Carlo simulation, providing quantitative risk assessments for both individual assets and a diversified portfolio. Analyzing historical price data from January 2016 to November 2024, the study identifies distinctive risk characteristics between these cryptocurrencies: ADAUSD exhibited marginally higher historical returns (1.44% monthly) compared to XRPUSD (1.42%), but with notably higher volatility (standard deviation of 5.41% versus 4.65%). The Monte Carlo simulation with 1,000 iterations generated VaR estimates at multiple confidence levels, revealing that XRPUSD consistently demonstrated lower downside risk than ADAUSD across all confidence thresholds. At the 99% confidence level, ADAUSD showed a Mean VaR of -10.97%, indicating potential monthly losses exceeding $10.97 million on a hypothetical $100 million investment, while XRPUSD's lower Mean VaR of -9.52% translated to potential losses of approximately $9.52 million. The most striking finding emerged from the portfolio analysis, which revealed dramatic risk reduction through diversification—the equally-weighted portfolio achieved a Mean VaR of merely -2.22% at the 99% confidence level, representing an approximately 80% reduction in potential losses compared to ADAUSD alone. These results demonstrate that cryptocurrency diversification can substantially mitigate extreme downside risk while maintaining exposure to the digital asset class. The significant risk reduction achieved through a simple two-asset allocation validates the application of modern portfolio theory principles to cryptocurrency investments despite their unique characteristics and underscores the critical importance of diversified approaches rather than concentrated positions for risk-conscious cryptocurrency investors. This research contributes to both theoretical understanding of cryptocurrency risk dynamics and practical portfolio construction approaches, providing quantitative evidence for the value of diversification strategies in navigating the substantial volatility inherent in digital asset markets.
This systematic review investigates the transformative impact of artificial intelligence (AI) and financial technology (FinTech) innovations on small and medium-sized enterprise (SME) financing, with a focus on enhancing transparency, efficiency, and financial inclusion. Despite the significant potential of AI and FinTech, substantial gaps remain in understanding their cross-regional and cross-industry effects, as well as in addressing persistent challenges such as AI adoption barriers, regulatory constraints, and decentralized data integration. The review synthesizes findings from peer-reviewed articles published from 2024 onward, sourced from Scopus and Web of Science databases, and examines the role of AI-driven solutions and digital financial platforms in SME financing. Results indicate that AI applications in risk assessment and credit scoring have reduced processing times by approximately 40% and improved loan approval rates by 25%. FinTech innovations have contributed to a 30% increase in financial inclusion, particularly among underserved SMEs in emerging economies. However, critical challenges, including data privacy concerns and limited technological infrastructure, continue to hinder broader adoption. This study contributes to the existing body of knowledge by systematically highlighting the role of AI and FinTech in enhancing SME financial performance and by providing actionable insights for policymakers, financial institutions, and entrepreneurs. The findings underscore the need for future research to address adoption barriers and to conduct cross-country comparative studies. Limitations include the exclusive focus on English-language, peer-reviewed sources, which may restrict the generalizability of the conclusions. Further investigations are recommended to explore the long-term impact of AI and FinTech innovations on SME sustainability and the evolution of regulatory frameworks supporting their implementation.
The rapid growth of digital technologies has intensified concerns about data privacy and security. Blockchain technology, combined with advanced cryptographic methods, presents a promising solution to enhance digital privacy by enabling decentralized, transparent, and tamper-resistant systems. This article explores the foundational principles of blockchain and cryptography, evaluates their interplay in preserving digital privacy, and examines current challenges and future directions. Through comprehensive analysis, the study highlights how cryptographic protocols such as zero-knowledge proofs and homomorphic encryption can significantly augment privacy on blockchain platforms, while addressing inherent scalability and usability challenges.
Financial derivatives are widely recognized for their effectiveness in managing interest rate risk, demonstrating the principle of comparative advantage in finance. However, traditional financial derivative transactions are often complex and can expose participants to market and credit risks. To mitigate these risks, reduce transaction costs, and enhance liquidity, this paper proposes a blockchain-based matching mechanism for financial derivatives that uses smart contracts for decentralized counterparty matching and settlement. Smart contracts facilitate secure data sharing among participants, ensuring the integrity and immutability of transaction data. We design a transaction pool mechanism-based smart contracts for counterparty matching and automatic settlement of financial derivatives involving real fiat currencies and introduce an efficient peer-to-peer counterparty matching method, where the entire trading process is conducted on a decentralized blockchain, ensuring greater security and transparency. A prototype implementation based on Ethereum smart contracts validates the effectiveness of our proposed model, demonstrating its potential to streamline and secure financial derivative transactions.
Somalia's urban growth, particularly in the Benadir region, has intensified over the past decades with driving forces such as population inflow, economic opportunities, and post-conflict rehabilitation.This study analyzes challenges encountered by Somalia's Benadir local government administration, such as urban growth and challenges they experience owing to reasons such as weak infrastructure, lack of finance, and inefficient systems of governance.This rapid urbanisation, however, presents significant challenges to local government management, such as inadequate infrastructure, poor urban planning, limitations on resources, and governance challenges.This study investigates the impact of urban development on local government functioning in the Benadir region, with an emphasis on how municipal governments manage urban services such as housing, waste management, public health, and security under the conditions of limited financial and human resources.The research also emphasizes the demand for better infrastructure, more effective institutional frameworks, and better policies of local governance to manage urban growth effectively.By facilitating sustainable urban development, policy concepts consist of decentralizing resources, developing capability, and establishing strategic partnerships with foreign entities.The research applied qualitative methods to approach, analysing secondary data acquired from kinds of literature of local government officials and leaders and data collected from policy documents and urban development reports.The findings show a gap between rates of urban growth and administrative capacity, leading to such governance challenges as informal settlements, poor public services, and undermined institutional arrangements.Strategic urban planning, enhanced mobilisation of resources, and building capacity are recommended by the report to strengthen local government administration and promote sustainable urban development in the Benadir region.These results contribute to the broader debate on urban governance in post-conflict environments, offering policy implications for Somalia and other developing nations experiencing rapid urbanisation.
Iulia Cristina Iuga, Raluca Andreea Nerişanu, Larisa-Loredana Dragolea
This study investigates the risk spillover between clean and dirty cryptocurrencies and their impact on green finance indexes (solar, wind, and nuclear energy) and regional economic indexes (Baltic Dry Index and CRB Index), with data processed using the diagonal BEKK model. The results identify several dirty cryptocurrencies such as: Ethereum Cash (ETC), Litecoin (LTC), and Bitcoin (BIT) as potential diversifiers and hedges with specific green energy and economic indexes. Our findings show that news from the cryptocurrency markets predominantly have a positive, significant effect on the covariance with green finance indices. The study also presents the covolatility spillover effect, showcasing the impact of a return shock in one market, such as the cryptocurrency market or the green finance market, on the co-volatility between markets, including regional economic indices like the Baltic Dry Index and CRB Index. The analysis reveals differential spillover patterns between clean and dirty cryptocurrencies and various green finance indices, highlighting the complexity of their interactions and the varying degrees of influence on regional economic indicators.
The increasing reliance of non-profit organizations (NPOs) on technology has created an opportunity to enhance transparency and trust in charity donation processes. Traditional donation systems often lack transparency, raising concerns about misuse and inefficiency. This study proposes a Blockchain-Based Frame- work for Enhancing Transparency and Traceability in Charity Donations, lever- aging Ethereum’s public-permissioned blockchain to ensure secure, immutable, and traceable transactions. By utilizing smart contracts and distributed ledger technology, the framework enhances donor trust by enabling real-time tracking of donations from the point of contribution to their final allocation. A hybrid qualitative evaluation confirms the system’s effectiveness in mitigating fraud, eliminating intermediaries, and increasing accountability. The proposed approach offers a scalable and secure solution to modernizing charity donations, addressing long- standing concerns regarding financial transparency and donor confidence.
Введение. Цифровизация финансовых инструментов и развитие социального предпринимательства являются актуальными векторами устойчивого социальноэкономического развития. Применение цифровых финансовых технологий позволяет снизить трансакционные издержки, ускорить финансовые операции и повысить их прозрачность. Социально ответственные бизнес-модели, в свою очередь, способствуют снижению издержек на предоставление социальных услуг, разгружая действующую государственную инфраструктуру. Материалы и методы. Авторами анализируются теоретические и практические аспекты применения цифровых финансовых активов, цифровых валют и криптовалютных токенов в сфере социально ориентированного бизнеса. Результаты исследования. В статье рассматриваются цифровые активы как новое явление в деятельности социального предпринимательства. Отдельное внимание уделено анализу преимуществ и рисков использования цифровых активов как источника финансирования социального бизнеса. Обсуждение и заключение. Финансовые и технологические риски оказывают существенное влияние на объемы использования цифровых активов в социальном предпринимательстве. Однако, благодаря технологии блокчейн, исключающей потенциальные изменения, цифровые активы являются наиболее защищенным инструментом ведения бизнеса, особенно в областях, связанных с благотворительностью, краудфандингом и т.д. Несмотря на риски, сопровождавшие децентрализованное финансирование, социальный эффект и возможности для увеличения доходный базы бюджета страны позволяют рассматривать данные технологии как инструменты долгосрочной перспективы. Introduction. Digitalization of financial instruments and the development of social entrepreneurship are relevant vectors of sustainable socio-economic development. The use of digital financial technologies makes it possible to reduce transaction costs, speed up financial transactions and increase their transparency. Socially responsible business models, in turn, contribute to reducing the cost of providing social services by unloading existing public infrastructure. Materials and methods. The authors analyze the theoretical and practical aspects of the use of digital financial assets, digital currencies and cryptocurrency tokens in the field of socially oriented business. Research results. The article examines digital assets as a new phenomenon in social entrepreneurship. Special attention is paid to the analysis of the advantages and risks of using digital assets as a source of financing for social business. Discussion and conclusion. Financial and technological risks have a significant impact on the use of digital assets in social entrepreneurship. However, thanks to blockchain technology, which eliminates potential changes, digital assets are the most secure business tool, especially in areas related to charity, crowdfunding, etc. Despite the risks that accompanied decentralized financing, the social impact and opportunities to increase the revenue base of the country's budget allow us to consider these technologies as long-term tools.
Yusril Rahman Hakim, Muchammad Rio Nugroho, Muhammad Hadyul Haq, Ladi Wajuba Perdini Fisabilillah · 5 authors
Sektor perbankan memiliki peran penting dalam perekonomian Indonesia, sehingga faktor-faktor yang memengaruhi harga saham perbankan menjadi menarik untuk diteliti. Penelitian ini bertujuan untuk menganalisis pengaruh harga Bitcoin, harga emas, dan BI Rate terhadap harga saham perbankan yang terdaftar di Bursa Efek Indonesia selama periode Januari 2022 hingga November 2024. Metode penelitian yang digunakan adalah pendekatan kuantitatif dengan regresi data panel berbasis Random Effect Model (REM). Data yang digunakan berupa data sekunder dari situs Investing.com. Hasil penelitian menunjukkan bahwa harga Bitcoin dan BI Rate memiliki pengaruh positif dan signifikan terhadap harga saham perbankan, sementara harga emas tidak memiliki pengaruh signifikan. Hal ini mengindikasikan bahwa Bitcoin sebagai aset digital alternatif semakin memengaruhi dinamika pasar keuangan, sedangkan emas lebih dianggap sebagai aset pelindung nilai tanpa keterkaitan langsung dengan saham perbankan. BI Rate yang meningkat juga mencerminkan kinerja positif perusahaan perbankan, sehingga menarik perhatian investor. Penelitian ini memberikan wawasan mengenai peran instrumen investasi alternatif dan kebijakan moneter dalam menentukan dinamika pasar saham perbankan.
Your public cloud environment can't run at low latency in today's digital-driven landscape, so it has become a strategic necessity. This comprehensive article discusses actionable strategies for latency optimization in public cloud systems traversing across network, compute, and storage layers. Though slower than form 2, form 3 cannot be recommended for imports because it presents challenges like How to easily make duplex payments with very high values. Reading form 4, you will learn how a decentralized finance system comprises different core components. This delves deep into the root causes of latency, like Geographic distance, resource contention, and inefficient configurations, and proffers sufficient guidance on combatting these through architectural best practices, edge computing, private connectivity, and intelligent resource selection. It also explores how real-time monitoring, predictive benchmarking, and automation tools allow organizations to detect and deal with latency problems before those affect the user experience. New technologies like AI/ML and 5G are targeted as these technologies will completely transform cloud performance optimization through the ability to make proactive decisions and super-fast connectivity. Besides, real-world case studies show successful implementations and cautionary failures and give useful lessons for IT leaders and cloud architects. This guide offers readers the tools and knowledge to build fast, scalable, and reliable cloud applications in both a single—or, indeed, a multi—or, not least, hybrid environment. The aim is easy: their clouds should not only work but work in an optimized way for all those milliseconds of performance and response time.
This study aims to critically examine the compatibility of Bitcoin and blockchain technology with Islamic economic and legal principles within the context of a rapidly evolving digital financial system. Employing a literature review method based on the PRISMA approach, this research analyzes five authoritative classical Islamic jurisprudence texts alongside 40 scholarly articles from credible academic sources. The primary focus lies in evaluating how these emerging technologies correspond with key Islamic financial values, particularly the prohibitions of riba (interest), gharar (excessive uncertainty), and maysir (speculation/gambling), while also exploring their potential for innovation in building a Shariah-compliant financial infrastructure. The findings demonstrate that while Bitcoin, due to its high volatility and speculative nature, poses significant concerns under Shariah principles mainly due to its proximity to elements of maysir and gharar blockchain technology itself offers considerable promise. As a decentralized and transparent ledger system, blockchain can enhance justice (‘adl), trust (amanah), and efficiency in Islamic financial transactions. It supports the reduction of transaction costs, improves transparency, and eliminates reliance on intermediaries aligning with core objectives of Islamic economic ethics. Furthermore, blockchain technology provides a foundation for innovative financial instruments that uphold Shariah compliance, such as asset-backed stablecoins, automated smart contracts for contracts like murabahah or mudarabah, and real-time Shariah audits. The study finds increasing institutional support across Southeast Asia and the Middle East, where Islamic finance authorities, governments, and fintech developers are actively working to embed blockchain into compliant financial ecosystems. In conclusion, although Bitcoin's speculative characteristics challenge its Shariah compliance, blockchain technology opens significant opportunities to innovate and strengthen Islamic digital finance. The realization of this potential depends on sustained collaboration among Shariah scholars, technologists, regulators, and financial institutions to ensure all developments are guided by the objectives of maqasid al-shariah. This research contributes to the ongoing discourse on how Islamic values can shape the future of ethical and inclusive financial technologies.
As more organizations move to use the multi-tenant cloud infrastructure, the perimeter-based security model is insufficient for the concept of zero-trust security states. Thatently, curing this complex environment, It has “never trust, always verify”. Completely contradicting the conventional models, Zero Trust continually promotes authentication and validation of every access request (inside or outside the network perimeter). As they try to understand how to protect the isolation of tenants, stop alteration movements, and support identity cross services, the paper investigates the challenges and parts of zero trust taking effect in the multi-tenant cloud. Everything must always be authenticated, no matter the connection status, to ensure the user (only the user) has permission to do all the things they need. Further, it shows that Artificial Intelligence (AI) and Machine Learning (ML) technologies can highly enhance the detection of threats and adaptive access control. It shall see an exhibited case study of a SaaS provider going from providing limited risk mitigation against these risks, such as credential stuffing, API abuse, and insider data leakage, to Zero Trust security. This paper discusses decentralized identity (DID), post-quantum cryptography, blockchain as immutable audit trails, and AI-led autonomous zero trust systems as some of the future emerging trends. As the world reaches the multi-tenant cloud architecture, they are ready to enhance cloud security further.
This comprehensive article examines the transformative impact of cloud computing and artificial intelligence on regulatory compliance and risk management in the financial services sector. It explores how financial institutions are embracing cloud technologies to enhance operational capabilities while navigating an increasingly complex regulatory landscape. The article details how AI-driven solutions are reshaping compliance frameworks through advanced machine learning for fraud detection, natural language processing for regulatory analysis, and enhanced anti-money laundering systems. The article analyzes architectural considerations and implementation strategies for AI-powered compliance frameworks, supported by real-world case studies that demonstrate significant improvements in efficiency and effectiveness. Furthermore, the article investigates emerging technologies poised to further transform regulatory compliance, including federated learning, explainable AI, quantum computing, and solutions for decentralized finance. By examining both the opportunities and challenges of AI-driven compliance, this research provides valuable insights for financial institutions seeking to optimize regulatory compliance while maintaining operational efficiency in cloud environments.
Smart contracts, self-executing programs on blockchain platforms, are transforming how contractual obligations are expressed and enforced. Their adoption presents complex legal challenges, particularly in ascertaining the true will of contracting parties. This paper explores doctrinal and practical difficulties in determining intent within smart contracts, examining the transformation of the autonomy of will, the legal nature of smart contracts, the expression and proof of consent, and judicial and regulatory developments. Special emphasis is placed on Uzbekistan, where legal infrastructure remains underdeveloped. Through comparative analysis and authoritative academic sources, the article proposes solutions such as hybrid contractual models, legal recognition of smart contracts as electronic transactions, and standardized frameworks to ensure fairness and enforceability.
Aashish Kumar Jha, Mohammed Nihar N R, J Sankalpa, Chetana Prakash
ABSTRACT: As statistics is the backbone of the digital financial system dependence on centralized cloud storage structures makes users prone to troubles concerning statistics breaches operational price and lack of control this paper examines the deployment of a decentralized cloud storage DCS framework with the use of interplanetary file system IPFS and Ethereum blockchain clever contracts to triumph over those drawbacks the gadget proposed here improves protection and information availability by incorporating aes-256 encryption sharding of records and decentralized metadata control by the introduction of a working prototype based on react.js, Ethereum wallet, ether.js and solidity this mission illustrates the viability of a decentralized statistics garage whilst resolving troubles with latency user adoption and value effectiveness experimental consequences affirm enhancements in safety and availability establishing a strong platform for additional research on decentralized storage architectures
With the rapid advancement of blockchain technology, smart contracts have enabled the implementation of increasingly complex functionalities. However, ensuring the security of smart contracts remains a persistent challenge across the stages of development, compilation, and execution. Vulnerabilities within smart contracts not only undermine the security of individual applications but also pose significant risks to the broader blockchain ecosystem, as demonstrated by the growing frequency of attacks since 2016, resulting in substantial financial losses. This paper provides a comprehensive analysis of key security risks in Ethereum smart contracts, specifically those written in Solidity and executed on the Ethereum Virtual Machine (EVM). We focus on two prevalent and critical vulnerability types (reentrancy and integer overflow) by examining their underlying mechanisms, replicating attack scenarios, and assessing effective countermeasures.
Although differential privacy (DP) is widely regarded as the de facto standard for data privacy, its implementation remains vulnerable to unfaithful execution by servers, particularly in distributed settings. In such cases, servers may sample noise from incorrect distributions or generate correlated noise while appearing to follow established protocols. This work addresses these malicious behaviours in a distributed client-server-verifier setup, under Verifiable Distributed Differential Privacy (VDDP), a novel framework for the verifiable execution of distributed DP mechanisms. We systematically capture end-to-end security and privacy guarantees against potentially colluding adversarial behaviours of clients, servers, and verifiers by characterizing the connections and distinctions between VDDP and zero-knowledge proofs (ZKPs). We develop three novel and efficient instantiations of VDDP: (1) the Verifiable Distributed Discrete Laplace Mechanism (VDDLM), which achieves up to a 400,000x improvement in proof generation efficiency with only 0.1--0.2x error compared with the previous state-of-the-art verifiable differentially private mechanism and includes a tight privacy analysis that accounts for all additional privacy losses due to numerical imprecisions, applicable to other secure computation protocols for DP mechanisms based on cryptography; (2) the Verifiable Distributed Discrete Gaussian Mechanism (VDDGM), an extension of VDDLM that incurs limited overhead in real-world applications; and (3) an improved solution to Verifiable Randomized Response (VRR) under local DP, as a special case of VDDP, achieving up to a 5,000x reduction in communication costs and verifier overhead.
Romario Desouza Daniel Mangiwa, Revina Siregar, Sri Anum Sari, Neli Agustina
Ethereum is one of the leading cryptocurrencies utilizing blockchain technology for peer-to-peer financial transactions. This study aims to forecast Ethereum's price using the Autoregressive Integrated Moving Average (ARIMA)model. Historical price data from January 1, 2023, to January 15, 2025, covering 534 periods, was analyzed. The ARIMA (0,1,9) model was selected based on AIC, SC, and Adjusted R-squared criteria, with forecast evaluation showing a Mean Absolute PercentageError (MAPE) of 15.01% and a Root Mean Squared Error (RMSE) of 649.702. Forecast results indicate an upward trend in Ethereum's price over the next 30 periods, with fluctuations being less pronounced compared to historical data. The study concludes that ARIMA provides reasonably accurate short-term predictions, although forecasting errors increase with longer prediction periods. These findings can serve as a reference for investors in developing short-term investment strategies for Ethereum.
The integration of information technologies into all spheres of human activity, the proliferation of online communities, and the expansion of the virtual world have precipitated a transformation in consumer needs and an influence on their preferences. This paradigm shift has established the foundations for the emergence and development of digital assets, one notable example being the non-fungible token (NFT). The present article aims to examine the prospects for the development of non-fungible tokens (NFTs) in the context of global transformations in the digital asset market. A graphical method was employed in the study to identify global trends in the development of the NFT market. The use of a systematic approach allowed the identification of differences between NFT 1.0 and NFT 2.0. A comparative analysis was conducted to identify the strengths and weaknesses of the functioning of NFTs, as well as the threats and opportunities for the future existence of NFTs. A descriptive literature review allowed the development of optimistic, neutral and pessimistic scenarios for the development of the non-fungible token market. Product, functional and technological approaches to understanding non-fungible tokens were identified. The article examines NFTs in two forms: as digital assets and as digital certificates. The traditional and non-traditional reasons for using NFTs have been clarified. A comparative characterisation of NFT 1.0 and NFT 2.0 was made based on characteristics, ownership, participants, personalisation and areas of use. The article presents an analysis of the NFT market with a focus on its structural changes. The current state of the non-fungible token market is characterised by a shift from speculation to increased utility of NFTs in various sectors. The strengths and weaknesses of the functioning of non-fungible tokens were identified, as well as the threats and opportunities for their development in the context of global transformations. The study allowed the formulation of scenarios for the development of non-fungible tokens in the midst of critical transformations in the digital asset market. Under the optimistic scenario, market capitalisation, trading volumes, the number of users, the share of non-traditional NFT segments, the use of artificial intelligence in the creation of NFTs, the technical modernisation of NFTs and the legal regulation of all related relationships will increase. The neutral scenario will be characterised by volatility in market capitalisation, trading volumes and the number of market participants. In this scenario, regulation will focus on combating fraud and terrorist financing in the NFT market. In a pessimistic scenario, all key market indicators will decline, resulting in losses from non-fungible token transactions. In some jurisdictions, certain types of NFT transactions will be banned. The conclusions emphasise that with the expansion of the virtual world, NFTs are acquiring the characteristics of a digital product with high potential for use in various fields. The development of the NFT market is characterised by a combination of conflicting trends. On the one hand, there has been an increase in NFT capitalisation in early 2025, along with the growth of holders, buyers, and sellers in 2024. Conversely, there has been a decline in NFT trading volumes. These trends may provide the basis for the implementation of an optimistic scenario for the future development of the non-fungible token market.
Introduction Web 3.0, also known as "Semantic Web," aims to create a more intelligent, networked, and centralized Web experience by introducing meaning and context to the Web's architecture. Blockchain, AI, and machine learning are some of the technologies that enable decentralized systems, enhanced data security, and personalized experiences. Web 3.0 is founded on a base of secure, transparent, and free-from-central-control applications. It has its most important features as linked data, which enables users to navigate and comprehend interlinked data with ease.[1] The potential use of Web 3.0 in the future can be found in things such as personalized health, decentralized finance, smart home, IoT appliances, digital ownership, social media, healthcare, education, sustainable living, and decentralized governance. The internet's history can be divided broadly into three phases: Web 1.0, Web 2.0, and Web 3.0. [2] In its initial phase, Web 1.0 was all about distributing information-static websites provided content with minimal to no interaction, With the emergence of Web 2.0, the internet became dynamic and social, enabling users to create content, interact with others, and become part of online communities. But with this greater interactivity came issues, with respect to data privacy and security. Today, we are moving into the Web 3.0 era, a smarter, more decentralized web powered by artificial intelligence, blockchain technology, and semantic intelligence. This new era does not just upgrade human-to-human interaction but also human-to-AI interaction, which makes online life more personalized and autonomous. But it also raises challenges like users will now need to deal with an information-rich world where it is harder to separate fact from reality. As the web evolves, the importance of digital literacy, the capacity to comprehend and interact with digital content increases dramatically. But still, it is difficult to define digital literacy.[6] As much as its use has been
Since Diffie and Hellman's pioneering work on asymmetric cryptography in 1976, digital signature technology has evolved through three phases—theoretical foundation, standardization, and diversified innovation—emerging as a cornerstone of trust in digital societies. Theoretically, foundational frameworks were established by RSA, DSA, and Schnorr algorithms. Standardization efforts, including NIST DSS, ISO/IEC series, and national systems (e.g., China's SM2/SM9, Russia's GOST), fostered a multipolar ecosystem. Extended-attribution technologies (blind, group, and ring signatures) addressed privacy and scenario-specific demands. Current challenges, such as quantum computing threats and privacy-regulation trade-offs, drive advancements in post-quantum cryptography (lattice-based signatures, hash-based XMSS) and privacy-enhancing mechanisms (verifiably encrypted signatures, homomorphic signatures), guided by ISO/IEC redactable standards and NIST's post-quantum initiative. Moving forward, digital signatures will deepen capabilities in provable security, quantum resistance, and adaptive policy control, underpinning trust architectures for emerging ecosystems like Web3 and the metaverse.
Open access
Cryptography and Data Security
Digital and Cyber Forensics
Advanced Steganography and Watermarking Techniques
Explosion-proof apparatus is a must in hazardous areas especially in anindustrial setting where certification is required to meet certain safety levels.Conventional certification mechanisms tend to be slow, non-transparent and vulnerable to forgery of documents and delays, particularly in the context of cross border transactions.This article presents the architecture of a blockchain-based certification platform, which could contribute to transparency, traceability, and efficiency in the certification lifecycle of explosion-proof equipment.It includes Ethereum smart contracts, IPFS (InterPlanetary File System) to store the comprehensive test reports on a decentralized platform, and a role-based web application interface for different kinds of users such as manufacturers, testing labs, certification bodies, and field auditors.Smart contracts are responsible for generating, revoking and handling certificate access control, all certification metadata and file hashes are suitably safeguarded on the blockchain, allowing records to remain tamper-proof and verifiable.A working prototype was implemented in Goerli Ethereum testnet and developed as React application.js frontend, Web3.js, IPFS and Architecture for a Blockchain-based Certification Platform for Explosion-Proof Devices https://iaeme.com/Home/journal/IJCET499