Jonas Gabriel Borges da Silva, Diógenes José Gusmão Coutinho
O presente trabalho abordou o potencial dos smart contracts como ferramentas para a redução da burocracia, explorando simultaneamente os desafios jurídicos e as considerações cruciais para sua implementação efetiva no Brasil. Inicialmente, destacou-se a capacidade dos smart contracts de automatizar a execução contratual, minimizar a necessidade de intervenção humana e eliminar intermediário, o que poderia simplificar processos e diminuir entraves burocráticos. A transparência proporcionada pelas plataformas blockchain também foi apontada como um fator que contribui para a construção de confiança. No entanto, a implementação generalizada dos smart contracts enfrenta desafios jurídicos significativos. A principal barreira identificada é a ausência de legislação específica no Brasil para regular esses contratos, gerando incertezas sobre sua validade e eficácia. A interpretação da vontade das partes expressa em código, a definição da natureza jurídica dos smart contracts e as questões de jurisdição e lei aplicável em transações descentralizadas foram também levantadas como complexidades a serem resolvidas. Ademais, foram consideradas as implicações práticas da implementação, incluindo a segurança do código, a interoperabilidade entre plataformas e a necessidade de proteção dos direitos dos contratantes em um ambiente de execução automática. A adoção de mecanismos como a regulação dinâmica e os sandboxes regulatórios foi sugerida como uma possível abordagem para acompanhar a evolução tecnológica e criar um ambiente jurídico mais adaptável. Em suma, embora os smart contracts ofereçam um potencial considerável para simplificar processos e reduzir a burocracia, sua adoção bem-sucedida no Brasil depende da superação de desafios jurídicos e da implementação de medidas que assegurem a segurança jurídica e a proteção dos direitos das partes envolvidas.
The article explores the integration of digital payment systems into e-commerce as a key factor in strengthening enterprise economic security. It emphasises the strategic role that digital payments play in ensuring financial stability, reducing operational risks, and enhancing customer trust, especially for small and medium-sized enterprises (SMEs). The study synthesises current academic discourse and industry reports, focusing on the advantages of real-time transaction processing, transparency, compliance with regulatory standards, and operational efficiency. It highlights the risks associated with cybersecurity threats, platform interoperability, and legal non-compliance. Empirical insights are drawn from the integration experiences of Eastern European SMEs using platforms such as PayPal, LiqPay, and Fondy. In addition, the article examines the transformative potential of blockchain-based systems, artificial intelligence, and decentralized finance technologies in reshaping payment infrastructures. It concludes that the integration of secure and innovative digital payment systems is not merely a technological upgrade, but a strategic necessity that directly supports economic resilience and long-term competitiveness in the digital economy.
This article presents a comprehensive framework for implementing privacy-preserving credit card reward systems using Secure Multi-Party Computation (SMPC) technologies. Traditional reward architectures require extensive sharing of sensitive transaction data across multiple entities, creating significant privacy risks, security vulnerabilities, and regulatory compliance challenges. It leverages cryptographic advances to enable card issuers, payment networks, and merchant partners to collaborate on reward calculations,fraud detection, and personalized offers without revealing sensitive transaction details to one another. The article explores the evolution of privacy-preserving technologies in financial systems, comparing Fully Homomorphic Encryption, Zero-Knowledge Proofs, and SMPC approaches. A detailed case study of a travel rewards program implementation demonstrates how this framework ensures data remains protected throughout the entire process while maintaining the performance characteristics necessary for production deployment. The system provides comprehensive privacy protection, enhances fraud detection capabilities through secure collaboration, and facilitates compliance with evolving privacy regulations.Performance evaluations confirm the practical viability of the article, with minimal latency impact, strong scalability characteristics, and robust security guarantees. It contributes to the growing field of privacy-enhancing technologies for financial services and offers a viable solution to balance analytical utility with privacy protection in consumer-facing applications.
This paper presents the translation of regulatory smart contracts written in RegLang into MedTiny, a component-based modeling language tailored for the development and verification of reliable systems. RegLang, a domain-specific language for embedding regulatory requirements in smart contracts, is limited by its users' expertise in smart contract development and formal verification. To address this, we propose an automated code generation method that translates RegLang contracts into MedTiny, enabling domain experts to utilize MedTiny's verification capabilities and modular system architecture. By leveraging MedTiny's toolchain and SMT solvers, we detect redundancies and conflicts in regulations early in the development cycle, helping domain experts avoid introducing unintended behaviors. This approach not only preserves the original specifications of RegLang contracts but also improves overall system reliability by integrating comprehensive verification capabilities. A case study illustrates the practical benefits of this translation, supporting complex rule-based contract management and mitigating the risks associated with regulatory changes.
Libraries are actively exploring innovative methods to leverage advanced technological breakthroughs like Blockchain, driven by the rapid evolution of information technology. The inherent benefits of blockchain, including its decentralized, transparent, and safe data management capabilities, offer compelling solutions for various library operations. While Bitcoin remains a prominent application, libraries can harness Blockchain's underlying potential to significantly enhance efficiency and security across numerous facets of their services. This study delves into the multifaceted potential effects of blockchain technology on libraries. It meticulously examines possible applications, long-term benefits, and the critical significance of seamlessly integrating blockchain technology into existing library services. For instance, blockchain could revolutionize interlibrary loan systems by creating an immutable, tamper-proof record of every transaction, thereby drastically reducing administrative burdens, minimizing disputes over borrowed materials, and expediting the overall lending process. Furthermore, it offers a robust framework for enhanced intellectual property management for digital resources, ensuring that creators' rights are meticulously protected and providing transparent, auditable tracking of digital content usage. This level of verifiable provenance is particularly crucial for academic and research libraries managing vast collections of scholarly works. Ultimately, the objective is to move towards Blockchain-based library management systems that require less manual labor, thereby improving overall understanding, fostering creativity in service design, and streamlining operational efficiency. Given that blockchain adoption in libraries is still in its nascent stages, this study aims to provide insightful information that can serve as a foundational guide for future research and practical implementation. The study concludes that, by adopting a contextual approach, Blockchain technology holds immense promise for greatly enhancing the efficacy and efficiency of resource transparency, ensuring patron privacy through secure data management, and bolstering information security across all library functions. References Abdennadher, S., Grissa, D., & Hamdi, M. (2022). Blockchain in accounting and auditing: A systematic literature review. Journal of Accounting & Organizational Change, 18(2), 234-256. Abid, H. (2021). Uses of blockchain technologies in library services. Library Hi Tech News, 38(8), 9-11. Agbo, C. C., Mahmoud, Q. H., & Eklund, J. M. (2019). Blockchain technology in healthcare: A systematic review. Healthcare, 7(2), 56. Akram, S. V., Malik, P. 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Islamic finance has evolved to address various adverse effects associated with capitalism and to establish a distinctive economic framework. However, a review of its nearly 50-year history reveals that Islamic finance was not developed solely from Islamic doctrine. Instead, it has often engaged with capitalism by selectively adopting capitalist institutions, functions, and products to facilitate its growth. This study examines the evolution of Islamic finance within the context of its interaction with capitalism, particularly through the development of Islamic financial products. Although Islamic finance has experienced significant growth in the 21st century, its pursuit of expansion has occasionally resulted in a loss of originality, leading to criticism for its assimilation into capitalist structures. In response to the criticism, Islamic finance is redefining its identity by adopting new practices, especially considering the emerging post-capitalist trends and the evolving dynamics of global capitalism in the early 21st century. One of the pioneering practices is to collaborate with emerging global financial practices driven by FinTech. The collaboration of Islamic finance with FinTech can be seen as a return to its foundational ideals of decentralization and traceability. However, it goes beyond mere reclamation. By collaborating with FinTech to develop an alternative financial system, Islamic finance has transformed from a mechanism for socioeconomic development based on Islamic principles into a global force seeking a better future for all. The knowledge produced by Islamic finance has thus become a universal intellectual asset, no longer confined to the Muslim community. This flexibility and universality of Islamic finance are its defining characteristics. As the global future remains uncertain, Islamic finance will likely endure by leveraging its flexibility and universality. In this context, Islamic finance may take an essential first step towards realizing a post-capitalist society.
In order to solve the problem of inefficient supervision caused by market segmentation in traditional financial supervision, the application of smart contracts in financial legal supervision is proposed. Based on the demand of financial market, this paper explores the role of smart contract technology in financial regulatory platform and studies the big data processing algorithm of financial regulatory platform. The financial regulatory platform mainly adopts the random forest algorithm, in the process of processing, through the construction of the model and the operation process, and the financial data characteristic variables and data random algorithm accuracy analysis and data processing. Experimental results show that: the system crawls mainly for the website information Cathay Pacific CSMAR database, selected 22 financial indicators, the use of financial data, prediction accuracy are above 96%, indicating that the system has a good prediction function. Conclusion: The result is favorable for the company to carry out mathematical statistics, and then avoid the risk.
The article discusses the prospects of implementing decentralized ledgers based on blockchain technology for the establishment and verification of international obligations in various fields. A comparative analysis of traditional liability accounting systems and new solutions based on distributed technologies has been carried out. Specific successful cases of the implementation of blockchain platforms, such as the TradeLens platform for the digitalization of international trade and the Climate Action Data Trust for environmental agreements under the 2015 Paris Agreement, have also been examined. The article discusses the legal aspects of blockchain in international law, including the provisions of the UNCITRAL model laws, OECD recommendations and the challenges of legal recognition of digitally recorded data. It finds that decentralized technologies can significantly increase transparency, trust and the speed of implementation of international obligations, but those legal and political challenges need to be overcome. Conclusions are drawn on the need for further harmonization of international legal norms and standards for the widespread adoption of blockchain technologies. The paper identifies opportunities for international organizations and states to develop legal and technical infrastructure for the effective use of distributed ledgers in various areas of international relations.
Gilang Muhammad Mumtaaz, Angga Dwi Ferdiansyah, Murjani
Abstract Since entering the Reformation era, Indonesia has entered a new era in the government system, where most of the affairs for basic services that were previously in the hands of the central government are devolved through decentralization policies, which are also referred to as regional autonomy policies. Regional development in the autonomy era provides an opportunity for local governments to innovate by building local growth centers to encourage regional economic growth. In practice, Indonesia adoptsasymmetric decentralization, which in principle can be based on conditions: (1) administrative (management), (2) political, and (3) fiscal. Regarding fiscal decentralization, starting from the regime of Law 25/1999, Law 33/2004, to Law 1/2022, the central role of fiscal decentralization from the beginning aimed to support the financing of devolved affairs, known as the Money Follows Functions principle. The fiscal decentralization policy provides certainty that the devolved affairs can be properly implemented by the Local Government. However, in its empirical dynamics, during the 23 years that regional autonomy has been implemented, at least there are various problems originating from regulations and local governments themselves, which result in inefficiencies in regional spending. Starting from the effect of incumbent spending allocations in regional head elections (pilkada), known as the political budget cycle (PBC) effect; weak local government governance that causes inefficiencies in regional financial management; central and regional budgeting support that has not been optimal in implementation; to the biggest problem, namely the problem of corruption of the Regional Budget by the definitive Regional Head and the ranks of the regional government. This research uses a normative juridical approach method with a statutory approach accompanied by an analytical descriptive case approach. The type of data is secondary data collected and studied using literature studies and analyzed using qualitative analysis methods. The results and discussion of this study conclude, First, it cannot be denied that corruption drastically distorts fiscal decentralization in the regions. It is estimated that about 30 percent of Anggaran Pendapatan dan Belanja (APBD) funds evaporate due to corruption, and about 70 percent of them occur in the procurement of government goods and services. the emergence of APBD corruption is weak planning and budgeting. There are several sectors that are vulnerable to potential corruption, especially in expenditures sourced from the Transfer to Regional Funds, Village Funds and Deconcentration Funds, which have implications for the high cost economy. Second, the ideal formulation used to inhibit the potential for corruption in the regions, especially the APBD, includes optimizing the implementation of fraud audits such as investigative audits or corruption audits, creating an internal whistleblowing system for local governments, improving the regional budgeting system, and strengthening the Government Internal Supervisory Apparatus. In terms of encouraging sustainable regional development governance, policy recommendations are needed, including: increasing sustainable public transparency; considering results-based accountability; making extensive use of ICT (Information and Communication Technology); increasing the role of reward and penalty mechanisms; and changing the paradigm from money follows function to money follows program. Keywords: Fiscal Decentralization; Corruption; APBD
Security protocols, protocols to achieve consensus, those for maintaining memory consistency and coherence, distributed ledgers, multi-party computation, and many similar software systems are examples of distributed message-passing based computation. Ensuring correctness of such distributed systems is a challenging problem for many automatic verification approaches. The deductive verification approach for reasoning about such systems involves computing a program invariant, i.e., an expression evaluates to true for every reachable program state. Several approaches for synthesizing invariants are dynamic, i.e., runs of the program and ancillary information such as target safety properties are used to learn an invariant expression. However, most existing approaches invoke a model checker (or a theorem prover) within the synthesis loop, which makes these approaches depend on the scalability of the verification tools. In this paper, we propose a counterexample-guided inductive synthesis approach called RunVS which learns invariant expressions from program runs, but without information such as target safety properties, and without invoking a model checker/theorem prover for validation. The synthesis approach pairs a decision-tree (DT) based method with a data augmentation technique: DT-learning provides an expression that classifies observed states from augmented states that are speculated to be unreachable. Validation of the learned invariant is performed by sampling program runs and states; any run that invalidates the invariant results in counterexamples used to revises the invariant. As there is no formal proof that the learned artifact is a true invariant, we call such an expression a likely invariant. An important user input to synthesis is often the set of predicates that comprise the invariant expression; we use a novel integration with a large language model (LLM) and prompt it to provide likely predicates to be used. We show empirical results of our approach on several distributed protocols implemented in the Promela modeling language.
The development of the cryptocurrency segment within the global financial market has emerged as one of the most transformative phenomena of the digital economy over the past decade. The present study aims to analyse the global imperatives driving this development, focusing on the key trends, challenges, and opportunities shaping the cryptocurrency market. Methodology. This study uses a combination of analytical and comparative methodologies to examine the cryptocurrency segment within the global financial market. The analytical approach is used to assess the structural dynamics, market trends and capitalisation growth of cryptocurrencies, while the comparative method facilitates the assessment of differences and similarities in the adoption of cryptocurrencies across different countries and financial systems. Data was collected by reviewing publicly available financial reports, cryptocurrency market data and institutional studies. Quantitative analysis was performed to evaluate numerical trends in market capitalisation, transaction volumes, and cryptocurrency usage in payment systems. Furthermore, a qualitative analysis was conducted to elucidate the regulatory challenges and their ramifications for financial stability. Results. The findings indicate the preeminence of Bitcoin, its evolution into a global asset, and the expanding role of altcoins, utility tokens and stablecoins. The analysis reveals the rising use of cryptocurrencies in commercial payments, the issuance of national digital currencies, and the substantial adoption of blockchain technologies by global corporations. However, the study also identifies critical challenges, including regulatory ambiguities, security vulnerabilities, and systemic risks associated with financial stability. The value and originality of this research lie in its comprehensive approach to assessing the multifaceted nature of the cryptocurrency market. The integration of quantitative insights with policy implications has resulted in the formulation of a novel framework for comprehending the strategic role of cryptocurrencies in the evolving global financial landscape. The study's findings offer actionable recommendations for policymakers, investors, and financial institutions seeking to navigate the intricacies of the cryptocurrency ecosystem.
Cryptocurrencies have rapidly emerged as a significant financial asset class, influencing global monetary systems and financial markets. However, their extreme volatility, speculative nature, and evolving regulatory landscape pose challenges to investors, policymakers, and financial analysts. This study presents an in-depth quantitative analysis of cryptocurrency volatility and risk assessment, focusing on Bitcoin (BTC-USD) and its correlation with traditional financial assets, including the EUR/USD exchange rate and S&P 500 index. Our research employs Generalized Autoregressive Conditional Heteroskedasticity (GARCH) modeling to measure the dynamic volatility patterns of Bitcoin, revealing the asset’s substantial fluctuations over time and its sensitivity to market shocks. Additionally, we utilize Monte Carlo simulations to forecast potential future price movements of Bitcoin, highlighting risk scenarios and the probability distribution of price trajectories over a one-year period. The Value-at-Risk (VaR) model is implemented to estimate potential losses within a given confidence interval, providing a robust measure of downside risk. Furthermore, the study examines the integration of cryptocurrency markets with traditional financial instruments by analyzing cross-asset correlations and volatility spillover effects. The findings suggest that while Bitcoin remains a highly volatile asset, its correlation with the broader financial system is increasing, indicating a potential shift towards mainstream financial adoption. The results contribute to the ongoing debate on whether cryptocurrencies serve primarily as speculative instruments or as viable components of diversified investment portfolios. These insights are valuable for institutional investors, risk managers, and policymakers in designing more effective risk mitigation strategies for cryptocurrency investments.
In this work, we address the evolutionary computation in programmable cryptography on blockchain technologies for the first time in the literature. For that, we propose a novel privacy-preserving and decentralized protocol ([email protected]) where the evolutionary computation model is public while the user inputs/outputs (i.e. the current and next populations) are private. The protocol relies on the transitions between the public-domain (i.e. contract-domain) and the private-domain (i.e. evolutionary-domain) to be secure. We perform an experimental study using two popular benchmark problems to measure the blockchain gas consumption, zero-knowledge proof generation/verification times and zero-knowledge proof size.
Open access
Blockchain Technology Applications and Security
Advanced Steganography and Watermarking Techniques
Multi-Party Computation (MPC), as a distributed computing paradigm, is considered to be a potential solution for providing privacy-preserving for applications following the client-server model. However, traditional MPC solutions cannot satisfy the publicly verifiable requirement of the client-server model. In this paper, we propose a blockchain-based verifiable MPC solution using Pedersen's threshold secret sharing and Lifted ElGamal encryption. We first build a data distribution method using Pedersen's threshold secret sharing and symmetric encryption to protect the privacy of inputs while ensuring robustness. Then, we propose a result processing algorithm using Lifted ElGamal encryption to safeguard the privacy of the outputs. Finally, we employ non-interactive zero-knowledge proof and Pedersen commitment to publicly verify the correctness of the encrypted outputs in the smart contract, enabling the detection of malicious parties. Theoretical analysis indicates that the proposed method can publicly verify the correctness of outputs without revealing plain-text inputs and outputs, which satisfy the privacy-preserving requirements of the client-server model. Experimental evaluations have demonstrated that our proposed approach is efficient regarding computation overhead, communication overhead, and response time in the output verification phase while achieving stronger privacy and robustness.
Crypto assets initially appeared as “virtual currencies”, but it became clear that they had limitations in terms of their function as a currency, particularly in terms of their practical use. Although the speculative aspect is often emphasized, in reality, there are cases where they are adopted as legal tender in emerging countries, suggesting that they are not necessarily limited to being a speculative product. The IMF is calling for stricter regulations due to the rapid growth of the crypto asset market and concerns about systemic risk. In addition, the bankruptcy of FTX has confirmed that the price of cryptocurrencies fluctuates according to the expectations of market participants, and the introduction of financial products undermines price stability. Stablecoins have been developed as a means of supplementing the limitations of cryptocurrencies, and their use is expanding, but financial authorities are calling for stricter regulations. The chain reaction of the crypto asset market crash was caused by excessive expectations, and was the result of rapid growth and delayed regulation. Crypto assets, which were created with the aim of being a decentralized system, are now strengthening their centralized elements, and as the risks are becoming more apparent, it has been concluded that strengthening monitoring systems and regulations is essential.
This paper proposes an integrated fintech–insurtech architecture that embeds insurance directly into logistics and trade workflows using digital networks, distributed ledger technologies, and real-time risk analytics. Drawing on network effects, game theory, and empirical observations from inland transport and cargo insurance markets in India, the paper models strategic interactions among insurers, shippers, transporters, and trade finance providers. The study introduces an ordinal risk classification framework and a self-sustaining quarterly cargo claims cycle designed to stabilize liquidity, optimize premium pricing, and reduce information asymmetry, particularly for MSMEs operating in fragmented supply chains. By repositioning insurance as a continuously embedded financial infrastructure rather than a post-loss settlement mechanism, the framework demonstrates how digitally native insurance systems can improve trust, capital efficiency, and resilience across integrated logistics and trade ecosystems.
A blockchain is a trustless system in an environment populated by untrusted peers. Code deployed in blockchain as a smart contract should be cautious when invoking contracts of other peers as they might introduce several risks and unexpected issues. This paper presents an information flow-based approach for detecting cross-contract invocations to untrusted contracts, written in general-purpose languages, that could lead to arbitrary code executions and store any results coming from them. The analysis is implemented in GoLiSA, a static analyzer for Go. Our experimental results show that GoLiSA is able to detect all vulnerabilities related to untrusted cross-contract invocations on a significant benchmark suite of smart contracts written in Go for Hyperledger Fabric, an enterprise framework for blockchain solutions.
Mrs. P Maraeswari, Navya Sri Vangala, Anu Chandana Chiluuri, Mohammad Sameer · 6 authors
Abstract: The default voting procedure has many inefficiencies such as issues with effectiveness, security, and transparency. These problems erode the confidence and credibility in the electoral frameworks which fosters conflict and skepticism towards the legitimacy of governance. A solution for voting problems is Secure Sphere, a decentralized ballot system that employs the Ethereum blockchain. Through block technology, Secure Sphere guarantees that its voting process is utterly transparent, secure, and un hackable. Votes are protected against unauthorized additions by casting them on the Ethereum blockchain. This approach mitigates most problems associated with traditional voting systems such as vote tampering and recounting, misrepresentation, and cyber threats. Moreover, the voting process is further secured by the application of cryptographic techniques. The principal feature of Secure Sphere is smart contracts which are vital in automating the voting process. Each vote is verifiable and counted, therefore, once cast, a vote becomes irrevocable. Because of these contracts the system is enhanced to enable real time vote verification, thus rendering the votes straightforwardly auditable. Therefore, both voters and election officials are able to independently confirm the outcomes.
Hyperledger Fabric is a well-known framework for developing enterprise blockchain solutions. Developers of these blockchains must ensure the correct execution of read and write operations so that the smart contracts' application logic is consistent with the business logic. In this paper, we present a static analysis approach based on abstract interpretation to detect read-write set issues in Hyperledger Fabric smart contracts and avoid bugs and critical errors that could compromise blockchain applications. The analysis is implemented in GoLiSA, a semantics-based static analyzer for Go applications. Our experimental results show that the proposed analysis can detect read-write set issues on a significant benchmark of existing applications. Moreover, it achieves better results in detecting read-after-write issues than other well-known open-source analyzers for Hyperledger Fabric smart contracts.
This paper presents a project aims to develop a decentralized, blockchain-powered online multiplayer card game designed to enhance transparency, security, and fairness in gameplay. By leveraging smart contracts and distributed ledger technology, the game ensures truthful interactions between players, eliminating intermediaries and providing verifiable outcomes. Each in-game action such as card transactions, player interactions, and match results is recorded on the blockchain, ensuring immutability and transparency. Players retain full ownership of their in-game assets, represented as non-fungible tokens (NFTs), allowing them to trade, sell, or utilize their assets across various platforms. The project integrates Web3 technologies to deliver a seamless user experience while blending traditional card game mechanics with decentralized gaming principles, ultimately creating a secure, engaging, and player-driven multiplayer environment.
Farhana Javed, Engin Zeydan, Josep Mangues‐Bafalluy, Kapal Dev · 5 authors
As edge computing gains prominence in Internet of Things (IoTs), smart cities, and autonomous systems, the demand for real-time machine intelligence with low latency and model reliability continues to grow. Federated Learning (FL) addresses these needs by enabling distributed model training without centralizing user data, yet it remains reliant on centralized servers and lacks built-in mechanisms for transparency and trust. Blockchain, a type of Distributed Ledger Technologies (DLTs) can fill this gap by introducing immutability, decentralized coordination, and verifiability into FL workflows. This article presents current standardization efforts from 3GPP, ETSI, ITU-T, IEEE, and O-RAN that steer the integration of FL and blockchain in IoT ecosystems. We then propose a blockchain-based FL framework that replaces the centralized aggregator, incorporates reputation monitoring of IoT devices, and minimizes overhead via selective on-chain storage of model updates. We validate our approach with IOTA Tangle, demonstrating stable throughput and block confirmations, even under increasing FL workloads. Finally, we discuss architectural considerations and future directions for embedding trustworthy and resource-efficient FL in emerging 6G networks and vertical IoT applications. Our results underscore the potential of DLT-enhanced FL to meet stringent trust and energy requirements of next-generation IoT deployments.
Ari Akbar, Djamaliyah Djamaliyah, Nur Aisyah, Mochammad Isa Anshori
The main objective of this study is to identify, analyze, and synthesize literature related to blockchain integration in leadership practices. The search methodology was conducted through major electronic databases with relevant keywords, resulting in 45 articles that met the inclusion criteria for further analysis. The results of the analysis revealed five main themes, namely Decentralization of Leadership Authority, Transparency and Accountability, DAO (Decentralized Autonomous Organization) Leadership Model, Transformation of Trust in Leadership, and Challenges of Implementation and Adoption. Blockchain technology has the potential to transform traditional leadership systems by creating a more transparent, efficient, and distributed trust-based environment. However, the implementation of blockchain-based policies faces various challenges, including technical barriers, organizational culture, and regulatory barriers. This study contributes to the understanding of how blockchain technology can change the dynamics of leadership and organizational governance. In addition, the findings of this study offer insights for further research in developing more adaptive, innovative, and sustainable leadership models in the digital era.
Blockchain platform performance is critically important for financial transaction applications. This article presents a case study comparing Ethereum, a public blockchain, with Hyperledger Fabric, a permissioned blockchain, for modeling financial transactions. Key performance metrics evaluated include throughput, latency, transaction cost, and finality. Our findings show that the Ethereum network achieved approximately 15 transactions per second (TPS) with a latency of ~12 seconds and incurred transaction fees of a few U.S. dollars. In contrast, Hyperledger Fabric sustained ~2000 TPS with sub-second latency and negligible cost. Fabric’s deterministic consensus also provides near-instant finality (~1–2 s), contrasting with Ethereum’s probabilistic finality, which requires ~1 minute. The detailed empirical results in Figures and summary Tables comparing core metrics reveal that Hyperledger Fabric offers superior throughput and efficiency for enterprise financial scenarios, while Ethereum’s performance is constrained by its decentralized consensus overhead. All measurements are based on an internal case study deployment without simulation. These insights inform platform selection for financial applications requiring high transaction volume and low latency.
Sang-Hyeon Park, Jeonghyuk Lee, Seunghwa Lee, Jung Hyun Chun · 8 authors
Merging Internet (web2) identities with blockchain (web3) identities is increasingly important for enhancing user experience and ensuring regulatory compliance. However, conventional solutions that map web2 identities to web3 accounts often lead to privacy concerns and fragmented identifiers across networks. To address these challenges, we propose a new identity scheme named Address Abstraction (AA), which redefines blockchain address and signing systems while preserving key properties: uniqueness, immutability, and privacy-preservation. This approach eliminates the limitations of chain-specific identity systems, enabling users to interact with multiple blockchains using their web2 certificates and unified identifiers. This chain-agnostic identifier also promotes cross-chain compatibility. We further present Zero-Knowledge Address Abstraction (zkAA), an implementation of AA that uses zero-knowledge proofs to uphold AA's core properties. Additionally, a proof aggregation technique combines multiple proofs into one, achieving approximately 5.5 times gas cost savings during verification in real-world scenarios. As of August 2024, zkAA with proof aggregation incurs an additional cost of only $0.66 per transaction on Ethereum.