The rise of artificial intelligence (AI) in procurement has transformed how organizations engage with suppliers, optimize spending, and drive contract negotiations. Traditional procurement negotiations rely on human intuition, historical knowledge, and manual research. However, with the advancement of AI-driven Smart Negotiation Assistants, procurement teams can leverage real-time market intelligence, price benchmarks, and predictive analytics to autonomously negotiate contracts. This paper introduces an AI-powered Procurement Chatbot, capable of conducting supplier negotiations with minimal human intervention. The system utilizes machine learning (ML), natural language processing (NLP), and historical transaction data to negotiate terms, secure cost savings, and ensure compliance with procurement policies. Real-world case studies, including automated software licensing negotiations and dynamic supplier pricing adjustments, demonstrate how AI-driven negotiations can save millions in procurement costs, reduce cycle times by up to 40%, and mitigate supplier risks [1]. The paper also explores technical architecture, algorithmic models, and deployment strategies for integrating AI negotiation assistants into enterprise procurement workflows. Furthermore, it highlights regulatory and ethical considerations in AI-driven procurement, emphasizing transparency and fairness. By leveraging AI-driven negotiation chatbots, businesses can achieve autonomous, efficient, and data-driven procurement processes, ensuring better supplier relationships and long-term cost savings.
The financial market has gone into paradigm shift from strict, highly regulated centralized system to open, easily accessible and permission less infrastructure for the last decades. These are powered by blockchain technologies. Decentralize Exchange is the primary source for this transformation which enables the direct person to person trading without intermediaries. DEXs also facilitates innovative entrepreneurial models in the Web3 which is an internet-built block chain technology where information is stored across multiple computers rather than central servers that create peer to peer communication without intermediaries. It also helps in the DeFi ecosystem, which is an emerging financial system using blockchain and crypto currencies to enable direct transactions without intermediaries. DEXs offer wide opportunities for SMEs, Startups, and marginalized communities in India. Despite its potential financial inclusion, sustainable growth and capital democratization still remain challenges in adoption of technology due to regulatory ambiguity, socio cultural barriers and complexity of technology. This paper examines the potential of Decentralized Exchange in fostering inclusive digital entrepreneurship in India. This study also analyzes the Tamil Nadu readiness in adopting blockchain technology. It develops a conceptual framework of linking DEX adoption, sustainability, and socio-economic outcomes. The study includes the theories like the Technology Acceptance Model (TAM), Institutional Theory (IT), and Diffusion of innovation (DOF) and proposes testable hypothesis and proposition to guide empirical research and policy formulation.
Kristin M. Kostick, Marcelo Corrales Compagnucci, Mateo Aboy, Timo Minssen
Federated Learning (FL) promises to enhance data-driven health research by enabling collaborative machine learning across distributed datasets without direct data exchange. However, current FL implementations primarily reflect the data-sharing interests of institutional controllers rather than those of individual patients whose data are at stake. Existing consent mechanisms-like broad consent under HIPAA or explicit consent under the GDPR-fail to provide patients with control over how their data is used. This article explores the integration of smart contracts (SCs) into FL as a mechanism for automating, enforcing, and documenting consent in data transactions. SCs, encoded in decentralized ledger technologies, can ensure that FL processes align with patient preferences by providing an immutable, and dynamically updatable consent architecture. Integrating SCs into FL and swarm learning (SL) frameworks can mitigate ethico-legal concerns related to patient autonomy, data re-identification, and data use. This approach addresses persistent principle-agent asymmetries in biomedical data sharing by ensuring that patients, rather than data controllers alone, can specify the terms of access to insights derived from their health data. We discuss the implications of this model for regulatory compliance, data governance, and patient engagement, emphasizing its potential to foster public trust in health data ecosystems.
The shift from a linear economy to a Circular Economy (CE) is crucial for achieving sustainability and reducing environmental impact However, large-scale CE implementation faces challenges such as a lack of transparency
This chapter positions political geography as a critical lens through which to investigate the rise of cyberlibertarian post-Westphalianism—a phenomenon shaped by Web3 infrastructures, GenAI systems, and decentralized techno-politics. Building on sustained fieldwork in Silicon Valley since August 2022 and prior research, the chapter interrogates how libertarian ideologies embedded in Web3 are reconfiguring notions of sovereignty, governance, and socioeconomic coordination. It compares three paradigmatic formations: Network States (Srinivasan), rooted in crypto-libertarianism; Network Sovereignties (De Filippi), grounded in commons-based governance; and Algorithmic Nations (Calzada), emphasizing cultural self-determination and data sovereignty. Engaging with critical voices such as Jarrad Hope and David Golumbia, the chapter reveals the ideological tensions at the core of cyberlibertarianism, particularly its propensity to reinforce elitism and obscure structural inequalities. It argues that while decentralization promises new affordances for digital citizenship, it risks consolidating power in technocratic enclaves unless governed through pluralistic and inclusive frameworks. Drawing on theories of innovation systems and AI economics, the chapter calls for hybrid governance models that prioritize solidarity, transparency, and institutional reflexivity. Ultimately, it proposes that political geography must play a central role in reimagining post-Westphalian digital orders that are democratic, accountable, and socially just.
Jungwon Seo, Juhui Lee, Yunjae Joo, K.-H. Lee · 6 authors
Blockchain-based E-participation systems significantly enhance transparency, data integrity, and security compared to traditional E-participation methods. However, existing systems often face challenges, such as inefficient attribute sampling in Zero-Knowledge Proof (ZKP)-based systems and the absence of effective differential reward mechanisms to distinguish between sincere and insincere participants. This paper introduces a blockchain-based E-participation framework designed to address these challenges. The proposed approach improves attribute sampling in ZKP-based systems by incorporating attribute keys, enabling efficient and secure sampling of participants without compromising privacy. This ensures that only eligible participants are selected while maintaining the integrity of the sampling process. Furthermore, the framework uses Shapley Values to implement a robust differential reward system that fairly compensates participants based on their sincerity, encouraging genuine contributions while penalizing insincere behavior. The security of the proposed framework is rigorously validated through a comprehensive security analysis, and its performance is thoroughly evaluated to demonstrate its effectiveness. Additionally, the feasibility of this approach is demonstrated through a prototype with real-world participants, highlighting its practicality and potential for deployment in E-participation systems.
This paper explores the intersection of decentralized governance, blockchain technology, and the digital commons through the lens of Elinor Ostrom’s principles. It examines how Decentralized Autonomous Organizations (DAOs) and tokenization models present both opportunities and risks for managing digital resources in transparent, community‐driven ways. The authors assess how token‐based, reputation‐based, and hybrid governance mechanisms—ranging from quadratic voting to Soulbound Tokens—can enhance democratic participation and accountability within blockchain ecosystems, while also recognizing their susceptibility to plutocracy, voter apathy, and collusion. Drawing on case studies such as MakerDAO, MolochDAO, Commons Stack, and Aragon, the paper critically analyzes real‐world implementations of decentralized governance and the extent to which they adhere to—or deviate from—Ostrom’s design principles for common‐pool resource management. It highlights structural limitations in governance design, especially in the presence of unequal voting power and centralized control disguised as decentralization. The paper also critiques the socio-economic implications of blockchain’s global expansion, noting how digital governance can replicate neo-colonial dynamics in the Global South and amplify state surveillance in authoritarian contexts. Further, it underscores the environmental costs of blockchain infrastructure and introduces DAOs like KlimaDAO and Regen Network as emerging experiments to align decentralized finance with sustainability goals. Ultimately, the authors propose a “dual imperative”: to develop context‐sensitive, inclusive governance architectures within DAOs, while pursuing international legal recognition and standards. The conclusion calls for communitarian models that fuse algorithmic rule enforcement with human-centered deliberation to protect the emancipatory potential of blockchain governance. Whether blockchain becomes a force for democratization or digital enclosure, the authors argue, will depend on how its governing architectures are designed, contested, and evolved by the communities that steward them.
Óscar De los Reyes-Marín, Iria Paz Gil, José Torres-Pruñonosa, Raúl Gómez-Martínez
Urban inequality and the financialization of housing call for a reconsideration of centralized municipal finance. This study introduces Decentralized Behavioral Finance (DBF), a framework integrating behavioral economics, blockchain infrastructures, and participatory governance to realign individual incentives with collective urban outcomes. Grounded in Sen's capability approach, Nash equilibrium theory, and libertarian paternalism, DBF links tokenization and behavioral design to accessibility, capital efficiency, and cooperative stability. Using longitudinal data for Spain (2000–2024) and evidence from tokenized housing initiatives, the analysis shows that citizen participation and technological adoption are positively associated with governance stability and social housing outcomes, while capital concentration exhibits a negative relationship with stability. The paper advances a formal Cooperative Stability Condition, expressed as a structural inequality, under which decentralized governance remains stable when participation amplified by technological enforcement outweighs concentration pressures. By introducing a testable equilibrium condition rather than a descriptive governance model, the study offers an internationally transferable framework for participatory urban finance focused on transparency, inclusion, and institutional resilience. • Introduces a formal Cooperative Stability Condition for urban governance • Integrates behavioral economics and blockchain in municipal finance • Shows participation × technology offsets capital concentration • Provides longitudinal evidence (Spain, 2000–2024) • Proposes a transferable equilibrium framework for cities
Oleksandr Manoylenko, S.S. Kuznetsova, Anton O. Pysakovskyi
The article explores the conception of decentralized finance (DeFi) as one of the key innovations of the modern digital economy, which has the potential to fundamentally change traditional approaches to providing financial services. An analysis of the main characteristics of DeFi protocols, their functional capabilities, and differences from centralized financial institutions has been conducted. Particular attention is paid to the analysis of such advantages of DeFi as open access to financial products, transaction transparency, process automation based on smart contracts, and the reduction of dependence on centralized intermediaries. At the same time, key issues in the development of DeFi have been outlined, including high technological complexity, regulatory uncertainty, financial volatility of assets, and risks associated with the vulnerability of smart contracts. The article emphasizes the need to create tools for a comprehensive assessment of the investment potential of DeFi protocols, as traditional analysis methods, which are primarily based on profitability or liquidity indicators, do not fully reflect the specifics of decentralized systems. In response to this issue, the conception of a multifactor indicator DIAD (DeFi Investment Attractiveness Dashboard) has been proposed, which allows for the integration of the assessment of financial parameters (return, volatility, liquidity), institutional characteristics (level of governance decentralization), and behavioral variables (user activity) into a single model. The developed methodology enables objective cross-platform comparison of various DeFi protocols, which is crucial for making informed investment decisions in the high-risk environment of digital assets. The article forms the theoretical basis for further empirical research on the efficiency of decentralized platforms, the development of risk management strategies in the DeFi sector, as well as the advancement of regulatory initiatives aimed at ensuring the resilience of the new financial ecosystem in the Web3 environment. The obtained results are of practical significance for investors, developers of decentralized applications, and regulatory bodies working on the integration of innovative financial technologies into the global economy.
Open access
Sharing Economy and Platforms
Hungarian Social, Economic and Educational Studies
This article examines how “brandless by design” strategies in Web3, particularly among digital nomads and creators of non-fungible tokens (NFTs), reshape consumer behavior, market intermediation, and governance. Using a structured thematic synthesis of interdisciplinary academic and gray literature, we integrate five analytical lenses: affordances (provenance, programmability, composability, and token-gated access), signaling (credibility through on-chain histories and disclosures), consumer identity (the extended self in digital ownership and display), parasocial interaction (attachment without human embodiment), and governance (smart contract terms, platform policies, and community charters). Three primary themes emerge. First, creative autonomy and disintermediation, as NFTs enable direct creator-to-consumer exchange and programmable provenance. Second, engagement and authenticity, as communities cohere around transparent access and shared utility rather than traditional brand logos. Third, sustainability and decentralization, which highlight tensions around environmental impact, intellectual property, cultural legitimacy, and consumer protection. Cross-cutting subthemes, including parasocial credibility, accessibility and cultural sensitivity, and brand control versus co-creation, explain why brandlessness can appear simultaneously intimate and precarious. We propose a conceptual framework that links brandlessness to decentralized identity and on-chain governance, clarifying when provenance signals, token-bound permissions, and community norms substitute effectively for legacy brand cues. The review concludes with implications for practice and policy, such as standardized licenses, clear disclosures, participatory design, on-chain royalty registries, and interoperable memberships that balance value capture with oversight. Future research should prioritize cross-cultural adoption, sustainability auditing that incorporates off-chain infrastructure, and mixed-methods designs combining on-chain telemetry with ethnography and experiments to assess trust, authenticity, and wellbeing.
‘ReFi’ is a rapidly emerging movement in the web3 space that seeks to leverage blockchain technology and decentralized finance (DeFi) protocols to deliver positive real-world impact. While ReFi is short for regenerative finance, regenerative practitioners query the regenerative claims of the movement. This perspective article explains why the regenerative claims of the ReFi movement are under scrutiny and highlights the implications for the Global Commons if the movement does not adhere to regenerative principles. Given that ReFi is a blockchain-enabled movement, the impact of ReFi on the Global Commons is implicitly a blockchain-related concern. This article provides a regenerative practitioner’s perspective on the ReFi movement as a point of reference for blockchain practitioners in the ReFi movement seeking to be a force for good. Long-standing research in ecological economics highlights the negative impacts of over-financialization and commoditization on the natural world. Given that blockchain technology enables more of the world’s natural assets to become commoditized, securitized, and collateralized than ever before, the article asserts that DeFi’s drive to financialize everything could make the Global Commons the next, and final, commodity frontier. It also asserts that the ReFi movement has the potential to reverse this trend if it can genuinely adhere to the regenerative paradigm.
The current economic organizational forms are increasingly inadequate for humanity's long-term development. Blockchain technology, much like the advent of steam engines and power systems, is transforming national governance and market operations. A substantial body of literature has explored Decentralized Autonomous Organizations (DAOs) built on blockchain technology. This paper builds upon existing literature to introduce the concept of a Decentralized Autonomous Community (DAC), delineate its legal framework, and propose a technical model based on the Consortium Blockchain. DACs not only address internal and external decision-making and governance within community systems but also ensure appropriate national supervision. By leveraging the innovative potential of blockchain, DACs promise a more efficient and equitable economic structure that aligns with contemporary societal needs.
In South Africa, many people are homeless or doing informal work for which they receive small amounts of cash from caring individuals. The world is moving towards cashless transactions, but devices are needed to support that move. Many people in need cannot afford such devices and usually receive cash, but fewer donors carry cash. Consequently, people in need receive less informal financial support. We propose a system that allows donors to give digital vouchers that can be redeemed at participating stores and institutions of care. This study aimed to investigate the use of blockchain technology in digital voucher management and to demonstrate the application of smart contracts to disintermediate the value transfer process specific to the donation process. A demonstrator was built to include a front end for the user to interact with and a back end containing the application logic, which was built on the Polygon blockchain, a second-layer solution for the Ethereum blockchain. The model included tokenising vouchers as non-fungible tokens, and the smart contracts governed their logic and the conditions to be met. The demonstrator was validated using smart contract and unit tests to evaluate the security and functionality. While the model was not implemented in reality, a fully functioning demonstrator was developed. The platform achieved the aim of disintermediating the voucher management process. A real-world implementation could help many in need to receive tokens for food, shelter and clothing from direct, individual donors.
Purpose This paper examines to what extent blockchain creates legitimacy and trust in different modes of public governance. It posits that while blockchain aims for political legitimacy through decentralising, immutable and consensus-based mechanisms, the execution of these mechanisms is limited in legitimating governance, which has knock-on effects on trust. It provides an original contribution by recontextualising and reframing blockchain as a governance mechanism that should, and must, perform a legitimating function in order to engender trust. Design/methodology/approach The research adopts a comprehensive framework for understanding the legitimacy of blockchain governance, positioning it in terms of co-governance, self-governance and hierarchical governance modes. It systematically analyses blockchain whitepapers, legislation, government documents and other sources in three paradigmatic case studies where blockchain governance failed. These cases are then used to assess blockchain according to three key characteristics of decentralisation, immutability and consensus. Findings The research finds that blockchain’s use in governance settings still relies on legitimacy conferred from other sources – namely state – in order to generate trust. Significant limitations in its de facto political decentralisation, immutability and consensus protocols can create failures in co-governance, self-governance and hierarchical-governance applications, thus limiting the legitimation function of blockchain in facilitating political trust. Originality/value These findings are significant in highlighting blockchain’s limitations as a decentralised, immutable and consensus-driven legitimating tool, which has knock-on effects on trust in technology and governance more broadly. It also has broader implications in more clearly highlighting the interconnectedness of political trust and legitimacy in governance processes.
Non-Fungible Tokens (NFTs) are unique digital assets which operate in a decentralised system that facilitate true digital ownership and product authenticity, leading to significant consumer interest. Despite growing interest, a gap exists in understanding the consumer journey regarding NFT purchase and consumption. This study aims to enhance comprehension of the consumer motivations and ownership intentions in NFT markets through the theoretical framework of Consumer Culture Theory (CCT). By exploring the three stages of the consumption journey - pre-purchase, acquisition and possession and post-purchase evaluation and behaviour – this research contributes to a nuanced understanding of consumer behaviour. Employing a qualitative phenomenological methodology, the study involved in-depth, one-on-one interviews with twenty-five NFT consumers. These participants were selected through purposive sampling within a virtual community to understand consumers lived experiences of NFT purchasing and consumption. The findings revealed a comprehensive consumer journey of NFT consumption. This was categorised through three stages: risk and motivation of consumption, digital ownership and market processes, and value creation and consumer behaviour. Additionally, twelve distinct personas were identified, illustrating varied motivations and behaviours among NFT consumers. Theoretical contributions include a holistic expansion of CCT research to encompass decentralised digital asset consumption, addressing a critical gap in existing literature. Practically, the findings provide valuable insights for organisations and marketing teams, enhancing their understanding of consumer motivations, ownership intentions, and value attributed to NFTs. This knowledge empowers marketers to better interact with communities, customer journeys and experiences of both current and prospective consumers of Non-Fungible Tokens.
Decentralized Finance (DeFi) has emerged as a transformative force in the financial landscape, challenging traditional systems and offering innovative solutions. As DeFi continues to evolve, it is essential to explore its implications for the future of finance, regulation, technology, and society. This research article outlines a comprehensive future research agenda that encompasses key dimensions of DeFi, including technological advancements, regulatory frameworks, economic impacts, and societal consequences. By identifying critical areas for inquiry, this paper aims to guide scholars, practitioners, and policymakers in navigating the complexities and opportunities presented by DeFi. The findings highlight the need for interdisciplinary collaboration to foster responsible innovation, enhance financial inclusion, and address the challenges that lie ahead.
This paper speculates on using blockchain and Decentralized Autonomous Organizations (DAOs) in agroecological regeneration, focusing on the case of Spain’s Mar Menor. It highlights the ecological challenges of intensive agriculture, drawing on theories like Haraway’s cyborg metaphor and Latour’s actor-network theory to contextualize the crisis within the interplay of human and non-human actors. The study introduces a conceptual blockchain-based prototype to automate ecosystem resilience through DAOs that manage land and agricultural practices. It proposes strategic interventions such as reforestation with nitrogen-fixing trees, cultivating flood-resistant crops, and the creation of new agro-settlements. The paper argues that blockchain technologies can optimize these strategies by enabling precise monitoring and management, thus enhancing soil fertility, sustainable agriculture, and community sustainability. It presents a vision of agroecosystems as resilient, autonomous entities capable of addressing ecological and economic challenges.
Small and medium-sized enterprises (SMEs) are the cornerstone of the European eDaconomy, representing 99.8% of all businesses and providing 66% of employment. Despite their critical role, SMEs face significant challenges in accessing traditional financing, particularly in the aftermath of the 2008 financial crisis, which led to a reduction in riskier lending by banks. Crowdfunding has emerged as a viable alternative, offering a decentralized and democratized avenue for raising capital, especially through platforms powered by blockchain technology.This paper explores the potential of blockchain technology (BCT) to revolutionize crowdfunding within the European Union (EU), addressing the critical financial needs of SMEs. BCT enhances transparency, trust, and efficiency in crowdfunding by enabling features such as tokenization, smart contracts, and decentralization. These innovations offer solutions to longstanding issues in traditional finance, such as fraud, information asymmetry, and the reliance on intermediaries.However, the paper also highlights the limitations and challenges of crowdfunding in Europe, particularly the disparities in crowdfunding trends between the UK, Nordic countries, and the rest of the EU. Financial data from 2018 and projections for 2023 reveal that while the number of crowdfunding campaigns in the EU is growing, the per-campaign value remains significantly lower compared to the UK, reflecting a continued focus on smaller-scale investments.The integration of BCT into crowdfunding practices presents both opportunities and obstacles. Although it offers a promising path to more efficient and secure funding mechanisms, the successful implementation of BCT will require coordinated efforts from governments, regulatory bodies, financial institutions, and technology developers to navigate the complex legal and technological landscape.In conclusion, while blockchain-based crowdfunding has the potential to reshape SME financing in Europe, realizing its full benefits will demand proactive engagement with emerging challenges and continuous adaptation to evolving regulatory frameworks.