The infusion of technology across various domains, particularly in process-centric and multi-stakeholder sectors, demands transparency, accuracy, and scalability. This paper introduces a blockchain and intelligent contract-based framework for judicial case management, proposing a private-to-public blockchain approach to establish a transparent, decentralized, and robust system. An Integrated Solution for Judicial Case Management using Blockchain Technology and Smart Contracts. This paper aims to introduce a multi-blockchain structure for managing judicial cases based on smart contracts, ultimately rendering cases more transparent, distributed, and tenacious. This solution is innovative because it will leverage both private and public blockchains to satisfy the unique requirements of judicial processes, with transparent public access for authorized digital events and transactions occurring on the freely available blockchain and a three-tiered private blockchain structure to address private stakeholder interactions while ensuring that operational consistency, security, and data privacy requirements are met. Leveraging the decentralized and tamper-proof approach of blockchain and cloud computing, the framework aims to increase data security and cut down on administrative burdens. This framework offers a scalable and secure solution for modernizing judicial systems, supporting smart governance's shift towards digital transparency and accountability.
This study proposes a decentralized framework that merges smart contract based Decentralized Finance (DeFi) protocols and traditional Enterprise Resource Planning (ERP) systems to provide secure, automatic, and verifiable transaction execution. It constructs an additional middleware interface to guarantee interoperability between ERP modules and blockchain networks that utilize smart contracts for procurement, finance, and asset management modules. The system was tested empirically within a hybrid testbed of chains with Ethereum Virtual Machine (EVM) compatibility simulation executing ERP transaction testing on a simulated environment with physical hardware. According to quantitative assessment results, performance increased, achieving a 38% increase in transaction throughput, a 27% decrease in execution costs, increased trust and traceability due to cryptographic audit trails, and improved auditability. The research highlights the potential of DeFi integrated ERP systems for decentralized enterprise finance systems as a scalable secure replacement to centralized enterprise finance systems.
The article explores the impact of blockchain technology on accounting and financial reporting in enterprises. The study highlights the growing relevance of blockchain integration in the accounting process due to the increasing complexity of financial transactions and the need for transparency, reliability, and security of financial data. The purpose of the research is to analyze the role of blockchain in transforming traditional accounting practices and to assess its potential for improving financial reporting in the context of modern digitalization and economic challenges. The study employs a combination of qualitative and comparative analysis methods to examine the advantages and challenges of implementing blockchain technology in accounting. The research methodology includes an assessment of blockchain's potential in ensuring data immutability, automating routine accounting tasks, and enhancing trust in financial transactions. A comparative approach is utilized to juxtapose traditional accounting practices with blockchain-based solutions, identifying their key differences and benefits. Additionally, international experiences in blockchain adoption for financial reporting are analyzed to outline global trends and best practices. The findings indicate that blockchain technology significantly improves the transparency and security of financial data by providing a decentralized and immutable ledger. The study identifies key benefits such as real-time transaction tracking, reduced risk of fraud, and automation of financial reporting processes through smart contracts. It also highlights the ability of blockchain to streamline auditing by ensuring that financial records remain unaltered and verifiable. However, challenges such as high implementation costs, regulatory uncertainty, and the need for skilled professionals are also identified as barriers to widespread adoption. The practical significance of the article lies in its recommendations for improving the legislative framework to facilitate the adoption of blockchain in accounting. The study suggests the development of national accounting standards that accommodate blockchain technology, the establishment of regulatory guidelines for smart contracts, and the integration of blockchain-based solutions into public financial reporting systems. By addressing these issues, blockchain technology can become a crucial tool for enhancing financial accountability, reducing operational risks, and fostering trust in financial transactions. The research concludes that the successful implementation of blockchain in accounting requires coordinated efforts among policymakers, financial institutions, and businesses to overcome existing challenges and unlock the full potential of digital transformation in financial reporting.
Gopal Krishan Prajapat, S. Pradeep, Dharmendra Kumar Yadav
Blockchain is the technology which greatly attracted the industries as well as the academics of the educational system because of its variety of applications and innovations around the globe. Smart contract is one of the most highly used technological move in the blockchain technology which increased its attention among the researchers. A smart contract has been embedded in the blockchain as an agreement that does not need any third-party intervention and executes automatically to perform different sophisticated tasks. Significant research has been done in the area of smart contract in blockchain in recent years. The smart contract has its impact in many industrial applications like supply chain management, digital identity, IOT, business processes etc. This paper aims to review the recent work that has been done in the area of smart contracts in different domains. We will present a comparative study of smart contract platforms, languages and applications under different categories like security, management, social application needs, etc.
Yingqiang Ge, Haochuan Wang, Kenny Cheah Soon Lee, A.Z.N.I.Z.A.R.I.N.A.B.I.N.T.I. TAHA
Social media plays a critical role in influencing Bitcoin adoption trends from 2015 to 2023, acting as both an enabler and a disruptor. While platforms have enhanced public awareness of cryptocurrency, they have also fuelled challenges such as misinformation and impulsive behaviour, often undermining responsible consumption of Bitcoin as a financial tool. This dual role underscores the need for targeted interventions to ensure that the adoption of Bitcoin aligns with ethical and informed practices. To foster responsible consumption, social media platforms must address the issue of content imbalance. Algorithms that prioritize sensationalism over educational material often mislead users, steering them toward impulsive decisions. A redesign of these algorithms is essential to elevate balanced, fact-based content that empowers users to make informed choices about Bitcoin. Additionally, introducing verified content tags can serve as a vital measure to combat misinformation, ensuring that users can easily identify credible information sources. Regulatory frameworks are another cornerstone of promoting responsible consumption in the cryptocurrency space. By implementing transparency guidelines and ethical standards for influencers and content creators, stakeholders can mitigate manipulation and foster trust within the digital ecosystem. By integrating these measures, social media can evolve into a platform that not only supports Bitcoin adoption but also ensures it is guided by responsible consumption principles. Such a transformation is vital to harnessing social media's potential while minimizing the risks posed to individuals and the broader financial community.
The intersection of fintech and sustainable finance drives significant changes in the global financial landscape by promoting green investments. Fintech comprises innovations such as blockchain, artificial intelligence (AI), and crowdfunding platforms. As the global community strengthens efforts to combat climate change and encourage sustainability, fintech offers scalable solutions to mobilize capital for green initiatives while upholding ESG (Environmental, Social, and Governance) standards. Blockchain, for example, provides transparency by creating immutable ledgers that track investment flows and verify sustainability claims, helping to mitigate the risk of greenwashing. Additionally, fintech platforms democratize investment, enabling small and medium-sized enterprises (SMEs) and individual investors to participate in sustainable projects via decentralized finance (DeFi) systems. However, the rapid expansion of fintech in sustainable finance poses challenges concerning data security, regulatory uncertainties, and the potential for greenwashing. While fintech enhances ESG reporting through AI-driven analytics, the lack of standardized global frameworks complicates the regulatory landscape. Furthermore, the heavy reliance on digital platforms introduces risks related to cybersecurity and privacy. Despite these challenges, fintech remains pivotal in aligning capital flows with the United Nations’ Sustainable Development Goals (SDGs) by lowering transaction costs, accelerating investment processes, and expanding financial inclusion. This research will address regulatory gaps, long-term performance assessments of fintech-facilitated green investments, and their socio-economic impacts, especially in underdeveloped regions.
The rapid advancement of Distributed Ledger Technology (DLT) is creating an unusual transformation in the banking industry, fostering innovation while challenging existing operating models. This paradigm shift, enabled by the emergence of decentralised technologies, has fuelled the ongoing debate on DLTs by highlighting their multifaceted potential, with impacts beyond their technological underpinnings, including regulatory frameworks, financial inclusion, and the fundamental architecture of the financial system. To contribute to understanding the challenges and impacts on the financial system, this special issue combines several research papers that provide an in-depth analysis of the complex influence of DLT on finance, presenting an argument highlighting the interconnection between technological innovation, financial accessibility, and regulatory development.
Blockchain is a transformative technology with the potential to metamorphose industries, including supply chains and logistics, owing to its promise of efficiency, transparency and traceability. However, many blockchain projects have failed, requiring an analysis of the underlying reasons. This research focuses on the failure factors by studying the case of TradeLens, a supply chain platform using Blockchain to improve the visibility and coordination of international shipments. Applying Elinor Ostrom’s theory of the commons, we explored challenges related to governance, participation, interoperability, technological evolution and security. The study reveals that a lack of stakeholder engagement, unclear governance, and confidentiality concerns are major obstacles. Ostrom highlights the importance of participatory governance and a clear definition of boundaries and communities in the management of shared resources. To be successful, blockchain projects must adopt a holistic approach, with transparent governance, encourage collaboration, guarantee interoperability and invest in data security. By incorporating these recommendations and the lessons learned from past failures, future blockchain projects can improve their chances of success and make a positive contribution to the transformation of industries.
The paper explores the revolutionary potential of Artificial Intelligence (AI) in Indonesia's financial ecosystem, highlighting its capacity to improve operational efficiency, foster financial inclusion, and tackle specific socio-economic concerns. This study emphasizes Indonesia's varied demographic and digital environment, illustrating how AI-driven innovations like decentralized finance (DeFi), predictive analytics, and blockchain integration transform financial products to cater to disadvantaged people. This study utilizes over 20 scholarly publications and international case studies to highlight the strategic significance of promoting ethical AI practices, mitigating algorithmic bias, and closing infrastructural and talent disparities to achieve sustainable and inclusive economic growth. The results support implementable methods, such as public-private collaborations, strong regulatory structures, and AI-driven individualized financial solutions, to optimize the advantages of digital transformation in Indonesia's financial industry. Future research must emphasize empirical investigations into AI's capacity to mitigate financial inequalities and stimulate regional innovation, thereby establishing Indonesia as a frontrunner in AI-facilitated economic transformation.
Cláudio Massingarela, Rabeca Cuna, Alberto Daniel, Filipe Mahaluça
This study examines the viability of Bitcoin investment in Maputo, Mozambique, within the context of the growing global adoption of cryptocurrencies. The research highlights the advantages of Bitcoin, such as lower transaction fees and the elimination of financial intermediaries, offering greater efficiency and flexibility for merchants and investors. The blockchain technology underlying Bitcoin provides security and privacy in transactions, making them resistant to fraud. However, Bitcoin's high volatility presents a significant challenge, particularly in unregulated markets like Mozambique, where the lack of a clear regulatory framework limits wider adoption. Using a mixed-method approach, quantitative data were collected from 23 Bitcoin investors through structured questionnaires, and qualitative data were gathered from semi-structured interviews with three investors and a financial analyst. Statistical analysis, conducted using R software, included tests such as Chi-Square, Student’s t-test, Mann-Whitney U, Pearson correlation, logistic regression, and factor analysis to understand the investment patterns and motivations of investors. The results revealed no significant association between gender and Bitcoin investment recommendations, although education level showed a marginally significant relationship, indicating that individuals with higher financial literacy are more likely to recommend Bitcoin. The analysis also found no significant differences in investment returns between men and women, suggesting that investment strategy plays a more crucial role. Risk-seeking investors achieved substantially higher returns, reflecting the speculative nature of Bitcoin. The study's limitations include the small sample size and the lack of specific cryptocurrency regulations in Mozambique, which restrict the generalizability of the findings. Recommendations include promoting financial education programs on cryptocurrencies, considering the legalization and regulation of Bitcoin by the Central Bank of Mozambique, increasing the banking sector's involvement in cryptocurrency discussions, and expanding research on Bitcoin volatility and returns. These actions could contribute to a more secure and informed investment environment in Mozambique.
With the growing demand for secure, decentralized file sharing solutions, this study presents a blockchain and IPFS-based framework for efficient data storage and access control. The proposed system leverages asymmetric encryption, smart contracts, and distributed access management to ensure confidentiality and integrity. The files are encrypted using AES-256 before they are stored in IPFS, and SHA-256 hashing is used to verify the content. Access control is guaranteed using blockchain-based policies, encrypting access keys and dynamic permissions to ensure that users can exchange files. An intelligent contract automates authentication, access and distribution of keys, minimizing dependence on centralized bodies. In addition, suppliers of storage facilities for an incentive mechanism reward the economy of economic and scalable storage. By using consensus mechanisms, such as proof of aspiration (POS) or proof of the authorities (POA), the system prevents unauthorized modifications and increases data security. This approach provides a reliable solution for organizations requiring controlled access to confidential data, with potential applications in the field of financial, health care and public sectors.
We propose Data Tumbling Layer (DTL), a cryptographic scheme for non-interactive data tumbling. The core concept is to enable users to commit to specific data and subsequently re-use to the encrypted version of these data across different applications while removing the link to the previous data commit action. We define the following security and privacy notions for DTL: (i) no one-more redemption: a malicious user cannot redeem and use the same data more than the number of times they have committed the data; (ii) theft prevention: a malicious user cannot use data that has not been committed by them; (iii) non-slanderabilty: a malicious user cannot prevent an honest user from using their previously committed data; and (iv) unlinkability: a malicious user cannot link tainted data from an honest user to the corresponding data after it has been tumbled. To showcase the practicality of DTL, we use DTL to realize applications for (a) unlinkable fixed-amount payments; (b) unlinkable and confidential payments for variable amounts; (c) unlinkable weighted voting protocol. Finally, we implemented and evaluated all the proposed applications. For the unlinkable and confidential payment application, a user can initiate such a transaction in less than $1.5$s on a personal laptop. In terms of on-chain verification, the gas cost is less than $1.8$ million.
Developing a computer program(smart contract) using reliability, a programming language for Ethereum blockchain. This smart contract will automate and secure the crowdfunding process by enabling druggies to contribute finances to a design, and the finances will be released to the design only when certain conditions are met, icing translucency and trust in the fundraising process. The design leverages the advantages of blockchain, similar as invariability and decentralization, to produce a more effective and dependable crowdfunding system. With vision of Government fund allocation through this platform. Developing a smart contract using reliability on the Ethereum blockchain to produce a secure and automated crowdfunding platform. The platform enables druggies to contribute finances to systems, with finances released only when specific conditions are met. This ensures translucency and trust, as all deals are recorded immutably on the blockchain. Decentralized governance allows contributors to share in backing opinions, enhancing the popular nature of the process. Also, the platform envisions integration with government fund allocation, furnishing a transparent and effective system for managing public finances and reducing the threat of corruption. Overall, the use of blockchain technology ensures a more dependable and responsible crowdfunding system. Harness the power of blockchain technology to produce a more effective, transparent, and secure crowdfunding platform. By automating fund operation through smart contracts and icing translucency through the Ethereum blockchain, we give a result that benefits both private systems and public fund allocation. This innovative approach has the implicit to transfigure crowdfunding and government backing, making fiscal processes more popular and responsible..
Irma Tsuraya Choirinnida, Yoseph Septianus Ronaldo Lopez
The rapid growth of technology has driven the popularity of Non-Fungible Tokens (NFTs), widely regarded as digital assets for showcasing creative projects and offering investment opportunities. Public interest, amplified by influencers, has led to diverse motivations to purchase NFTs, though many consumers remain unaware of the associated risks. This study examines the factors influencing NFT purchase intentions among Indonesian buyers with prior experience. Using purposive sampling, data from 150 respondents were analyzed through multiple linear regression in SPSS software. Key variables include perceptions of price, design quality, Perceived Usefulness, Perceived Ease of Use, and Perceived Risk. Findings reveal that perceptions of price and design quality significantly impact purchase intentions. Perceived Usefulness and Ease of Use highlight consumer acceptance of NFTs as a new technology, while respondents view NFT purchases as beneficial despite acknowledging risks. The study provides valuable insights into consumer behavior in the NFT market, emphasizing the need for greater awareness of risks while identifying key drivers of adoption in this emerging digital landscape.
We explore the adoption of graph representation learning (GRL) algorithms to investigate similarities across services offered by Decentralized Finance (DeFi) protocols. Following existing literature, we use Ethereum transaction data to identify the DeFi building blocks. These are sets of protocol-specific smart contracts that, similarly to “financial LEGO bricks”, are utilized in combination within single transactions and encapsulate the logic to conduct specific financial services such as swapping or lending cryptoassets. We propose a method to categorize these blocks into clusters based on their smart contract attributes and the graph structure of their smart contract calls. We employ GRL to create embedding vectors from building blocks and agglomerative models for clustering them. To evaluate whether they are effectively grouped in clusters of similar functionalities, we associate them with eight financial functionality categories and use this information as the target label. We find that in the best-case scenario purity reaches .888. We use additional information to associate the building blocks with protocol-specific target labels, obtaining comparable purity (.864) but higher V-Measure (.571) and discuss plausible explanations for this difference. In summary, this method helps categorize existing financial products offered by DeFi protocols, and can effectively automatize the detection of similar DeFi services, especially within protocols.
This paper aims to assess the current state of research landscape of the role of FinTech in the digitalization of financial services through a bibliometric analysis using scientometric software (VosViewer). We analyzed a dataset of 585 documents as indexed by Scopus, published between 2015 and 2025 to generate network maps and identify emerging trends in the field. The bibliometric analysis delves into various key areas within financial services, including digital transformation, decentralized finance, artificial intelligence, and blockchain technology. The results revealed a notable rise in the publication volume throughout the years, reflecting the role of modern technologies in transforming financial systems and enhancing user experiences. Geographically, certain countries represent the highest number of publications in the field of FinTech and the digitalization of financial services such as India, China and the United States. These findings provide a foundation for researchers to foster blockchain, artificial intelligence, and decentralized finance, to drive the development and transformation of financial services.
As 6G networks evolve, inter-provider agreements become crucial for dynamic resource sharing and network slicing across multiple domains, requiring on-demand capacity provisioning while enabling trustworthy interaction among diverse operators. To address these challenges, we propose a blockchain-based Decentralized Application (DApp) on Ethereum that introduces four smart contracts, organized into a Preliminary Agreement Phase and an Enforcement Phase, and measures their gas usage, thereby establishing an open marketplace where service providers can list, lease, and enforce resource sharing. We present an empirical evaluation of how gas price, block size, and transaction count affect transaction processing time on the live Sepolia Ethereum testnet in a realistic setting, focusing on these distinct smart-contract phases with varying computational complexities. We first examine transaction latency as the number of users (batch size) increases, observing median latencies from 12.5 s to 23.9 s in the Preliminary Agreement Phase and 10.9 s to 24.7 s in the Enforcement Phase. Building on these initial measurements, we perform a comprehensive Kruskal-Wallis test (p < 0.001) to compare latency distributions across quintiles of gas price, block size, and transaction count. The post-hoc analyses reveal that high-volume blocks overshadow fee variations when transaction logic is more complex (effect sizes up to 0.43), whereas gas price exerts a stronger influence when the computation is lighter (effect sizes up to 0.36). Overall, 86% of transactions finalize within 30 seconds, underscoring that while designing decentralized applications, there must be a balance between contract complexity and fee strategies. The implementation of this work is publicly accessible online.
This paper first documents a novel herding for Altcoin, i.e., herding towards Bitcoin. Besides, constructing the proxies for flight to Bitcoin (in)attention with Google Trends and Twitter, the results reveal that flight to Bitcoin inattention strengthens the herding and flight to Bitcoin attention attenuates the herding. Subperiod analysis further reveals that the finding is more pronounced during the period before the introduction of Bitcoin futures, and the period before the outbreak of COVID-19.
This article conducts a comprehensive bibliometric analysis of 182 papers to trace the progression of research on cryptocurrency taxation. The study highlights prevailing patterns, influential contributors, and collaborative networks by utilising data from Scopus and the Web of Science Core Collection from 2002 to 2023. The findings underscore an interdisciplinary character, encompassing studies in legal frameworks, fiscal policy, economics, and technology. By employing analytical tools such as VOSviewer 1.6.20, Bibliometrix 4.0 and Microsoft Excel, the study identifies key themes and concepts focused on four main themes: international tax frameworks and regulatory variations, classification and reporting of crypto-related income, tax implications for emerging crypto segments, and issues surrounding compliance and enforcement. Tax treatment differs based on jurisdiction. Direct taxation may be levied as capital gains, income, or profit tax. Although cryptocurrency exchanges are not subject to value-added tax, intermediary services offered by platforms might incur this indirect tax. The insights generated are valuable for policymakers, scholars, and professionals aiming to comprehend the relationship between cryptocurrency and tax regulation. A limitation of the study is its exclusion of sources beyond the established timeframe. Given the fast-paced changes in cryptocurrency tax regulation, ongoing updates are crucial to capturing the full scope of this evolving field.
Abstract Pricing dynamics and volatility are accelerating the adoption of global cryptocurrency. Despite challenges, cryptocurrencies such as Bitcoin are gaining widespread acceptance, particularly in countries with unbanked populations, the lack of bank controls, and inflation. This study investigates the global patterns of cryptocurrency adoption using Generalized Linear Models and Spatial Autoregressive Models. This research introduces a novel perspective on global cryptocurrency adoption using spatial models. Our findings reveal that cryptocurrency adoption is significantly influenced by economic instability, infrastructure availability, and spatial dynamics, with higher adoption rates in countries with limited access to traditional financial systems.
This study examines how rapidly advancing technology, digital transformation, and changing customer demands are causing revolutionary changes in the fields of health technology, education technology, fin technology, and Agri-technology.These sectors are going through major transformations that improve accessibility, efficiency, and personalization, which will ultimately raise economic development and general quality of life.By improving accessibility, cutting costs, and facilitating proactive health management, wearable technology, telemedicine, and AI-driven diagnostics are transforming patient care in the health technology sector.Personalized medicine, electronic health records (EHRs), and remote monitoring are all contributing to better treatment results.The integration of blockchain in healthcare is also enhancing data security and interoperability.EdTech is reshaping education through online platforms, adaptive learning technologies, and AI-driven tutoring systems.Education is becoming more dynamic, inclusive, and captivating with the emergence of digital classrooms, virtual reality (VR), and gamification strategies.For students around the world, especially in isolated and underprivileged places, these developments are reducing learning gaps and increasing chances.The financial ecosystem is changing as a result of FinTech developments including decentralized finance (DeFi), blockchain, digital payments, and Robo-advisors.Financial inclusion, security, and transparency are being improved via digital banking, mobile wallets, and AI-powered fraud detection systems.Lending and investing habits are also changing as a result of the rise of cryptocurrencies and peer-to-peer lending platforms.Agri-Tech, on the other hand, is using biotechnology, smart irrigation systems, and precision agriculture to address issues related to food security and sustainability.Drones, Internet of Things sensors, and AI-powered analytics are being used to maximize resource use, enhance crop resilience, and boost total agricultural output.This essay explores the effects of these disruptions, emphasizing the advantages and disadvantages for companies, customers, and legislators.By analyzing case studies and emerging trends, this research aims to provide insights into how these sectors can continue evolving to create a more equitable, efficient, and sustainable future.
The rapid development of automation and artificial intelligence (AI) is causing a significant upheaval in the banking sector.These technological advancements are boosting client experiences, increasing financial efficiency, and altering the way banks function.With an emphasis on topics like fraud detection, risk management, customer service (think chatbots and virtual assistants), personalized banking, and automating repetitive processes, this study examines how banks are presently utilizing AI and automation.While highlighting the major advantages-such as reducing expenses, reducing mistakes, and expediting decision-making-it also addresses the drawbacks, including concerns about data privacy, maintaining regulatory compliance, and the effect on employment.According to the study, further integration of technologies such as robotic process automation (RPA), machine learning, and natural language processing is anticipated in the future, which will increase the intelligence and adaptability of banking systems.Also, it looks at new developments that have the potential to drastically change the sector, such as open banking, decentralized finance (DeFi), and AI-powered predictive analytics.As the report concludes, banks must carefully consider ethical issues, make investments in staff upskilling, and figure out how humans and computers can collaborate efficiently, even though AI and automation present enormous prospects for innovation and expansion.Although the banking industry has a bright future, maximizing the potential of new technologies will require careful planning.
The article considers financial literacy as an important factor of sustainable socio-economic development in the context of global digital transformation. The rapid development of financial technologies, platform economy, artificial intelligence, blockchain technologies, and decentralized finance (DeFi) has significantly changed the architecture of financial markets and consumer financial behavior models. In these circumstances, the ability of the population to effectively and safely use digital financial instruments is becoming a key condition for the financial stability of households and the stability of the financial system. According to the OECD/INFE (2023), only about 29% of the adult population achieve a minimum level of digital financial literacy, which indicates that there is a significant gap between the technological development of the financial sector and the level of financial competence of users. The study systematizes modern theoretical approaches to understanding financial literacy and analyzes its evolution under the influence of fintech innovations, artificial intelligence technologies and digital assets. Special attention is paid to new competencies necessary for secure interaction with cryptocurrencies, robo-consultants, embedded finance systems and open banking tools. It is proved that the development of digital financial literacy helps to reduce the financial vulnerability of the population, expand access to financial services and form an inclusive digital economy. The results of the study show that investments in the development of digital financial competencies of the population form a multiplier effect for economic growth and improving the financial well-being of society.
The research examines the increased popularity of electronic currencies as well as the radical change towards a digital economy.In the last decade, the use of cryptocurrencies like Bitcoin, Ethereum, and newly formed central bank digital currencies (CBDCs) has gained momentum, capturing extraordinary shifts in financial frameworks as well as in global economic models.The study examines the factors driving the growing adoption of digital currencies, noting their advantages including decentralization, improved security, lower transaction costs, and the capacity to enable cross-border payments.Aside from analysing the economic and technological drivers of digital currency adoption, the research looks at the general implications of digital finance on the existing banking systems, monetary policy, and regulatory regimes.The research also discusses the potential role of digital currencies in promoting financial inclusion, especially in areas with limited access to mainstream banking services.In addition, the research examines how the growth of the digital economy, typified by the convergence of digital currencies, blockchain technology, and decentralized finance (DeFi), is changing business models and consumer behaviours in various industries.The research, conducted through a mixture of surveys, case studies, and interviews with experts, cites major challenges including volatility, regulatory ambiguity, and security risks that may affect future stability and development of digital currencies. REVIEW OF LITERATUREDevlin (2019) -An Analysis of main and subsidiary credit card holding and spending.This research aims to investigate why the majority of multiple credit card holders hold a "main" card (i.e., one that is more frequently used than the others) and "subsidiary" cards (i.e., ones used less frequently or in an emergency situation) and the spending behaviour on main and subsidiary cards.