FinTech innovations have reshaped the financial sector, enabling greater security, accessibility, and efficiency. The integration of advanced technologies such as blockchain, artificial intelligence (AI), machine learning, and big data analytics has revolutionized financial services, improving operational efficiency and fostering financial inclusion. These innovations provide secure, seamless, and real-time transactions, reducing dependency on traditional banking systems while promoting a more customer-centric approach. This paper examines the role of FinTech in promoting sustainable finance through digital financial solutions, regulatory compliance, and enhanced security. The emergence of digital lending platforms, robo-advisors, decentralized finance (DeFi), and digital payment systems has transformed how individuals and businesses interact with financial services. By leveraging automation and data-driven decision-making, FinTech facilitates transparent and cost-effective financial services, addressing inefficiencies in traditional models. Furthermore, the study explores market trends, risk management strategies, and future developments in the FinTech industry, providing insights into the evolution of financial technologies and their implications for sustainability. With increasing regulatory scrutiny, cybersecurity concerns, and the growing need for responsible investing, the intersection of FinTech and sustainable finance has become crucial. This paper highlights how FinTech fosters green finance initiatives, enhances ESG (Environmental, Social, and Governance) investments, and contributes to a more resilient and inclusive financial ecosystem. Keywords: FinTech, Sustainable Finance, Digital Financial Solutions, Regulatory Compliance, Financial Security, Market Trends, Risk Management, Blockchain, AI.
The proliferation of cryptocurrency throughout society has led to widespread usage within criminal offending. Despite this, limited research has investigated fear of cryptocurrency-based victimization, or the role that financial or cryptocurrency literacy play in influencing such fears. This study examines the influence in which financial and cryptocurrency literacy plays in both personal and altruistic fear of financial and cryptoeconomic crimes. Using a sample of college undergraduates (n = 433), and employing a validated scale of cryptocurrency literacy, results indicate that cryptocurrency literacy is not significantly associated with all modalities of fear of crime investigated, with the exception of altruistic fear of non-cryptocurrency financial crimes. Conversely, general financial literacy was negatively associated with personal fear of both financial crimes and non- cryptoeconomic financial crimes. Findings are discussed in light of research and policy implication as well as limitations.
The evolution of regulatory frameworks in the FinTech industry presents both opportunities and challenges as organizations navigate an increasingly complex compliance landscape.From digital payments to decentralized finance, FinTech's transformative impact on global financial services necessitates robust regulatory oversight while maintaining innovation.
This article offers ‘stages’, an original device, to sharpen the focus on a particular divinatory economic performance: the folding of imagined profitable futures into the present to create the impression that profitable futures are imminent or already realized. Drawing on ethnographic material from the startup and multi‐level marketing (MLM) cryptocurrency sectors, and utilizing ‘stages’ as a concept/pun – in the spatial and temporal sense – I show how economic performances must be ‘staged’ to convince people to invest. ‘Staging’ economic performances leads to creating a physical space of heightened excitement, expertise, and a temporal period that is experienced as urgent where one must think in an innovative way to bring about a profitable future. Under these conditions, ‘stages’ reveals how the line between a legitimate and an illegitimate project becomes indistinguishable to those on the ground. Doing your ‘due diligence’ to discern between the two is anything but straightforward. Despite claims by Euro‐American financial elites that startups and MLMs are polar opposites, this article demonstrates their striking similarity. More broadly, ‘stages’ reveals how economic performances gain efficacy, travel beyond specific sites, and come to act on people.
The integration of cloud computing and distributed ledger technology (DLT) isrevolutionizing energy derivatives trading by transforming traditional market structures and operational workflows.The adoption of these technologies addresses key challenges in trade lifecycle management, market transparency, and regulatory compliance while introducing new possibilities for automation and efficiency.Through innovative architectures and smart contract implementations, market participants benefit from enhanced security, reduced settlement times, and improved risk management capabilities.The convergence of cloud infrastructure with DLT platforms creates a robust foundation for next-generation trading systems, offering opportunities for market evolution while presenting technical challenges that require careful consideration and strategic solutions.
Smart contract as a new form of contract is recognized to provide speedy and efficient transactions. Eliminating textual ambiguities, cumbersome contractual terms, enables negotiations, verify terms and automatically enforce tempered-free contractual terms without the need for intermediaries. In traditional contract, contractual terms are written in formal language which are quite cumbersome, the process of concluding transactions is slow and requires the intervention of lawyers, banks, registry departments and the courts. Many jurisdictions including Nigeria are still carrying out contractual transactions relying solely on traditional contract despite advancement in technologies including Blockchain technology, Ethereum and use of cryptocurrencies like Bitcoin and others as medium of exchange in online transactions. Using a qualitative doctrinal legal research method, this research gathered online sources and examined the legality of smart contract and Blockchain technology. While highlighting the importance of using smart contract in business transaction in Nigeria. The research adds to ongoing discuss on smart contracts and Blockchain technology. Suggesting the need for a shift from purely traditional contracts in Nigeria, to adoption of smart contracts to ease both domestic and trans-jurisdictional transactions mostly concluded online. However, there is a need for a robust framework for smart contract in Nigeria just like the E-SIGN Act and the UETA in the United States and other similar legislations that have been developed in other countries across the world.
D. Mythili, M. Ganeshwari, Suleiman Ibrahim Shelash Mohammad, B. Anitha · 6 authors
Crypto-tech is a technology secured by cryptography, which enables the exchange of data and facilitates duplicated and distributed transactions across the entire network of computer systems on the blockchain. This paper aims to study cryptocurrency’s Awareness, perception, and impact among investors with special reference to Coimbatore city. This study will help provide baseline information on the factors influencing investors in cryptocurrency investing. The study found that cryptocurrency is likely to become the next financial platform due to the large amount of cryptocurrency flows in different systems, the huge increase and growth in cryptocurrency consumption and production, and the opportunities that cryptocurrency systems offer. And the level of awareness and preference in the use of cryptocurrency is moderate. However, investors are not yet fully aware of the dangers of using cryptocurrencies. Many cryptocurrency forms do not yet qualify for that level of trust. Investors should take extra precautionary measures when using cryptocurrency until it is well maintained. The future of the cryptocurrency concept is bright as there are many opportunities for positive change and progress in the e-business and e-payment sectors. As technology advances rapidly, cryptocurrency development continues.
This comprehensive article explores the technological foundations, implementation frameworks, and future implications of smart contracts in blockchain technology.The article examines the core features of smart contracts, including their automated execution mechanisms, security architectures, and cost efficiency through disintermediation.Through detailed analysis of real-time execution environments and Preethi Ravisankar
Ahmad Anwar Zainuddin, Farah Mazlan, Nur Faizah Omar, Nik Nor Muhammad Saifudin Nik Mohd Kamal
Most conventional contract systems have issues with middlemen, drawn-out implementation procedures, fraud risk, and human error. Considering this, the project uses smart contract technology to provide a decentralized, automated, and safe solution in an effort to address such inefficiencies and the trust issues they raise. Smart contracts enable self-execution of contracts whose conditions are expressed explicitly in lines of code by presenting solutions using blockchain technology. The concept behind a smart contract is that each party may carry out their portion of the duties without depending on a third party and the contract will automatically execute in the meantime. This automation significantly reduces transaction costs while simultaneously improving security and transparency. With the use of this underlying technology, smart contracts may be used to directly code parties' compliance with their duties under the agreement and the blockchain will keep an immutable record of every transaction. For smooth and dependable transactions, smart contracts offer a dependable and effective substitute for conventional contract methods. Furthermore, integrating smart contracts with cutting-edge technologies like machine learning and artificial intelligence could improve decision-making and accelerate operations in a variety of sectors. Their application extends beyond financial transactions to areas such as supply chain management, energy trading, and healthcare, showcasing their versatility. Despite these advantages, issues like energy consumption, scalability, and regulatory compliance still need creative solutions. Ongoing research and development aim to address these issues, fostering the evolution of smarter, more sustainable contract systems. By leveraging these advancements, smart contracts keep opening the door for a revolution in the digital economy that will increase productivity and confidence.
This paper provides a comprehensive analysis of cryptocurrency as a financial instrument, examining its underlying mechanisms, market structure, and risk characteristics. The study begins with an overview of cryptocurrency fundamentals, including blockchain technology and the evolution of the cryptocurrency market. Through quantitative analysis of daily returns for six cryptocurrencies and six traditional assets between January 2018 and December 2021, the research demonstrates cryptocurrency's distinctive risk-return profile. Principal Component Analysis reveals three major risk factors driving cryptocurrency returns, while clustering analysis identifies meaningful groupings among cryptocurrencies. The findings indicate that cryptocurrencies exhibit significantly higher volatility and tail risk compared to traditional assets but provide substantial diversification benefits when incorporated into conventional portfolios. Tangency portfolio analysis shows that adding cryptocurrencies to traditional assets substantially improves risk-adjusted returns, with the combined portfolio achieving a Sharpe ratio of 2.72, compared to 0.39 for traditional assets alone. The study further examines regulatory challenges, tax implications, and emerging frameworks, particularly within the European Union. This research contributes to understanding cryptocurrency's role in modern investment portfolios while highlighting the unique risks and regulatory considerations that accompany this emerging asset class.
Untung Rahardja, Mohammad Miftah, Mohamad Rakhmansyah, Jihan Zanubiya
The rapid evolution of technology has significantly transformed the financial services sector, positioning big data and fintech as pivotal drivers of innovation. This paper explores the integration of big data analytics and fintech solutions to address critical challenges such as operational inefficiency, limited financial inclusion, and scalability issues within the financial ecosystem. Employing a qualitative research method, this study combines an extensive literature review and case study analysis from financial institutions and fintech platforms to develop a comprehensive framework. The findings reveal that the synergy be- tween big data and fintech enables transformative advancements, including predictive risk management, automated financial processes, and enhanced accessibility to underserved populations. Additionally, blockchain based finance and decentralized financial technologies demonstrate potential for scalability, transparency, and cost efficiency. However, challenges such as fragmented regulatory frameworks, data privacy concerns, and disparities in technological infrastructure persist, particularly in emerging markets. The proposed framework emphasizes scalable and sustainable approaches tailored to diverse financial contexts, ensuring longterm adaptability and alignment with global priorities like the Sustainable Development Goals (SDGs). By fostering ethical considerations, regulatory harmonization, and region specific strategies, the study contributes to academic discourse and practical advancements in responsible financial technology implementation. The conclusion highlights the critical role of big data and fintech in revolutionizing the financial services industry, driving inclusive and sustainable growth while addressing the dynamic demands of a global economy.
To govern smart contracts running on Ethereum, multiple Ethereum Request for Comment (ERC) standards have been developed, each defining a set of rules governing contract behavior. Violating these rules can cause serious security issues and financial losses, signifying the importance of verifying ERC compliance. Today's practices of such verification include manual audits, expert-developed program-analysis tools, and large language models (LLMs), all of which remain ineffective at detecting ERC rule violations. This paper introduces SymGPT, a tool that combines LLMs with symbolic execution to automatically verify smart contracts' compliance with ERC rules. We begin by empirically analyzing 132 ERC rules from three major ERC standards, examining their content, security implications, and natural language descriptions. Based on this study, SymGPT instructs an LLM to translate ERC rules into a domain-specific language, synthesizes constraints from the translated rules to model potential rule violations, and performs symbolic execution for violation detection. Our evaluation shows that SymGPT identifies 5,783 ERC rule violations in 4,000 real-world contracts, including 1,375 violations with clear attack paths for financial theft. Furthermore, SymGPT outperforms six automated techniques and a security-expert auditing service, underscoring its superiority over current smart contract analysis methods.
Traditional banking systems rely heavily on centralized data storage and identity verification processes, leading to security vulnerabilities and regulatory burdens. Zero-Knowledge Proof (ZKP) technologies offer a cryptographic solution that enables financial verification-such as identity authentication, balance confirmation, and transaction validation-without disclosing sensitive user data. This paper explores the integration of zk-SNARK and zk-STARK protocols, ZK-Rollup-based scalability solutions, and zkLedger applications within banking operations. It examines the role of selective disclosure mechanisms in critical areas such as KYC/AML compliance, balance verification, cross-border transactions, and regulatory audits. Furthermore, a four-layer architectural model is proposed to facilitate the seamless integration of ZKP-based frameworks into traditional banking infrastructures, addressing key aspects such as security optimizations, transaction costs, and scalability. Lastly, the potential of ZKP in regulatory compliance, its bridging role between DeFi and centralized banking, and the emergence of ZKP-driven next-generation banking services are discussed.
This paper investigates the application of multi-agent large language models (LLMs) in traditional finance (TradFi) and decentralized finance (DeFi), with a focus on addressing challenges such as inefficiencies, security vulnerabilities, and regulatory requirements. We propose a conceptual framework for implementing multi-agent LLMs, which combines the advanced reasoning and language capabilities of LLMs with the collaborative nature of multi-agent systems. Through detailed case studies, we demonstrate the effectiveness of this framework in portfolio management, fraud detection, smart contract optimization, and regulatory compliance. Empirical data from these case studies show significant improvements in performance metrics such as accuracy, speed, and cost efficiency compared to traditional approaches. For instance, in portfolio management, multi-agent LLMs achieved a 3.8% increase in average returns and a 0.6 improvement in the Sharpe ratio. In DeFi, smart contract optimization reduced vulnerabilities by 66%, while decentralized lending protocols saw a 17% increase in liquidity utilization. This paper concludes with recommendations on how to improve effectiveness of LLMs and outlines future research directions, including the integration of quantum computing and the development of explainable AI techniques.
This article explores the emerging field of blockchain-powered peer-to-peer energy trading and its potential to revolutionize the global energy sector. It examines the fundamental principles of decentralized energy marketplaces, including smart contracts and distributed ledger technology, which enable secure, transparent, and efficient energy transactions. The article highlights key research breakthroughs, such as AI-managed trading platforms that optimize supply and demand in real-time, and presents case studies from pilot projects in Europe, the United States, and Australia. Future innovations, including tokenized energy credits and cross-border renewable energy exchanges, are discussed alongside their potential impact on energy markets. The article also addresses regulatory considerations and strategies for large-scale adoption in both national and international contexts. Long-term implications for sustainability and market transparency are explored, emphasizing blockchain's role in facilitating the transition to renewable energy sources and creating a more open and equitable energy economy. This comprehensive article underscores the transformative potential of blockchain technology in addressing critical challenges in energy distribution, market efficiency, and environmental sustainability.
The emergence of blockchain and cryptocurrency technologies has transformed digital ecosystems, introducing opportunities for innovation and efficiency alongside profound ethical challenges. This paper explores key ethical considerations in cryptocurrency and blockchain, including the decentralization of financial systems, the balance between privacy and transparency, the use of blockchain for surveillance, and the socio-economic impacts on vulnerable populations. The authors delve into the contrasting emphasis on ethical considerations for financial solutions deployed in developed and developing countries. The borderless nature of blockchain and cryptocurrencies enables decentralised international transactions while simultaneously introducing specific challenges regarding the definition of applicable law and other jurisdictional legal matters. Through a combination of literature analysis and illustrative case studies, the authors examine the complex ethical dilemmas that accompany these technologies in combination with their actual and perceived links to crime. The findings aim to provide actionable insights for policymakers, industry leaders, and researchers, fostering the responsible and equitable adoption of blockchain and cryptocurrency technologies.
Financial technology (fintech) faces growing demands for faster data processing, reduced delays, and better security as the sector rapidly advances. Current centralized systems are vulnerable to various threats including data manipulation, service outages, and security breaches that can compromise financial transactions. This research examines how combining blockchain technology, smart contracts, and machine learning could solve key challenges in fintech-related to security, transparency, and operational performance. The study also considers how these technologies affect regulatory compliance, legal frameworks, and ethical oversight. The research methodology involves analyzing ten years of literature on blockchain in fintech, specifically focusing on decentralized ledgers, automated smart contracts, and machine learning for data analysis. The findings are presented visually through diagrams and data visualizations that demonstrate improvements in operations, security, and cost efficiency. The study shows that blockchain provides transparent, secure financial record-keeping through its decentralized structure. Smart contracts help reduce costs and make financial services more accessible to underserved groups by automating processes. Machine learning enhances these blockchain applications by enabling predictive analysis and data-driven choices. While progress has been significant, there are still obstacles to overcome, particularly in developing governance frameworks that ensure ethical use and regulatory compliance. This analysis contributes to new understanding by examining how blockchain and machine learning work together in fintech, with special attention to previously understudied areas like operational efficiency, security, and regulatory compliance. The research outlines how these technologies can transform finance while providing practical solutions to current challenges, working toward a more secure, inclusive, and efficient financial system.
Blockchain technology has emerged as a transformative tool in the fintech industry, offering unprecedented opportunities to enhance real-time auditing processes, financial transparency, and fraud detection. This study explores how the integration of blockchain with advanced analytics can revolutionize traditional auditing practices, addressing critical challenges such as data tampering, inefficiencies, and lack of transparency. By leveraging blockchain’s immutable ledger and decentralized architecture, real-time auditing becomes more accurate, secure, and efficient, enabling continuous monitoring and verification of transactions. Advanced analytics, when combined with blockchain, empowers auditors with predictive capabilities, anomaly detection, and actionable insights, ensuring a proactive approach to fraud prevention. The inherent traceability of blockchain allows all transactions to be recorded in a tamper-proof manner, significantly reducing opportunities for fraudulent activities and improving compliance with regulatory standards. Moreover, the integration supports automated reconciliation processes and smart contracts, further streamlining financial operations and minimizing human errors. This paper also highlights the role of blockchain in fostering stakeholder trust through enhanced transparency, as all parties involved in financial ecosystems gain access to real-time, verifiable financial records. Key applications discussed include Know Your Customer (KYC) processes, anti-money laundering (AML) initiatives, and secure cross-border transactions, showcasing how blockchain addresses industry pain points. Despite its transformative potential, challenges such as scalability, integration with legacy systems, and regulatory uncertainties remain. The study discusses strategies for overcoming these hurdles, including collaborative efforts between fintech firms, regulators, and technology providers to establish standards and best practices. In conclusion, integrating blockchain technology with advanced analytics heralds a new era for financial transparency and fraud detection in the fintech sector. By reshaping real-time auditing processes, blockchain not only enhances operational efficiency but also sets a foundation for a more secure and trustworthy financial ecosystem. Keywords: Blockchain Technology, Real-Time Auditing, Financial Transparency, Fraud Detection, Fintech, Advanced Analytics, Regulatory Compliance, Smart Contracts, Financial Ecosystems, KYC, AML.
Princess Eloho Odio, Richard Okon, Mary Oyenike Adeyanju, Chikezie Paul-Mikki Ewim · 5 authors
The rapid growth of the fintech industry has led to an increased reliance on digital financial transactions, which simultaneously presents significant cybersecurity risks. This abstract explores the potential of combining blockchain technology with advanced cybersecurity protocols to create a dual-layered approach to securing financial transactions and protecting customer data in fintech applications. Blockchain, with its decentralized and immutable nature, offers inherent security benefits, making it an ideal foundation for enhancing the integrity of financial transactions. Each transaction recorded on a blockchain is cryptographically secured, ensuring that data cannot be altered retroactively, thus preventing fraud and unauthorized access. However, while blockchain technology provides a robust mechanism for securing transaction data, it is not immune to all forms of cyber threats, particularly those targeting the endpoints or vulnerabilities in smart contracts. Advanced cybersecurity protocols, such as encryption, multi-factor authentication, and intrusion detection systems, complement blockchain’s capabilities by safeguarding the broader fintech ecosystem. These protocols can be used to secure access points, ensure data privacy, and enhance the detection of malicious activities that might bypass blockchain’s security features. The integration of blockchain with cybersecurity measures creates a multi-layered defense system that not only protects transaction integrity but also mitigates risks associated with data breaches, phishing attacks, and insider threats. For example, encryption techniques can ensure that sensitive customer data remains confidential, while blockchain ensures the immutability of transaction records. Furthermore, smart contract security protocols can prevent vulnerabilities in decentralized finance (DeFi) applications from being exploited by malicious actors. By combining these two technologies, fintech companies can significantly enhance the security of financial transactions, improve customer trust, and ensure compliance with regulatory standards. This dual approach strengthens the resilience of fintech platforms against evolving cyber threats and enhances the overall security posture of the industry. Keywords: Blockchain, Cybersecurity, Fintech, Financial Transactions, Data Integrity, Encryption, Smart Contracts, Decentralized Finance, Multi-Layered Security, Fraud Prevention.
Yackolley Amoussou-Guenou, Maurice Herlihy, Sucharita Jayanti, Maria Potop-Butucaru · 5 authors
Many of the problems that arise in the context of blockchains and decentralized finance can be seen as variations on classical problems of distributed computing. The smart contract model proposed here is intended to capture both the similarities and the differences between classical and blockchain-based models of distributed computing. The focus is on cross-chain protocols in which a collection of parties, some honest and some perhaps not, interact through trusted smart contracts residing on multiple, independent ledgers. While cross-chain protocols are capable of general computations, they are primarily used to track ownership of assets such as cryptocurrencies or other valuable data. For this reason, the smart contract model differs in some essential ways from familiar models of distributed and concurrent computing. Because parties are potentially Byzantine, tasks to be solved are formulated using elementary game-theoretic notions, taking into account the utility to each party of each possible outcome. As in the classical model, the parties provide task inputs and agree on a desired sequence of proposed asset transfers. Unlike the classical model, the contracts, not the parties, determine task outputs in the form of executed asset transfers, since they alone have the power to control ownership.
The rapid evolution of digital technologies has significantly reshaped governance. While much existing literature focuses on public blockchain governance, fewer investigate governance mechanisms of private and consortium blockchains, increasingly prevalent in society. We explore how blockchain systems enact governance using Beck et al.’s (2018) framework examining decision rights, accountability, and incentives. Interviews with eighteen blockchain experts reveal that public blockchains offer greater decision rights, less accountability and emphasise intrinsic incentives. In contrast, private and consortium blockchains adopt hierarchical governance where central entities regulate access, decision-making and behavioural norms. These systems prioritise extrinsic incentives and accountability than public blockchains. Our findings challenge the view of blockchain as purely decentralised, instead offering evidence of hybridised structures in practice. We also extend Beck et al.’s framework by studying three blockchain types and propose a systems and structure-based rationale for control in blockchains, as opposed to trust-based mechanisms (Pflueger et al. (2022)). Finally, we offer a variation on how responsibility and accountability depart, beyond extant MA studies (Burkert et al., 2011; Giraud et al., 2008) - suggesting that openness does not necessarily equate to enhanced accountability. These insights are crucial for understanding blockchain governance and have important implications for digital systems integration in organisations.
The convergence of blockchain technology, smart contracts, and artificial intelligence represents a transformative technological paradigm that fundamentally reimagines corporate governance in fintech and logistics industries. This research review critically examines the profound technological disruption emerging at the intersection of advanced computational systems and organizational management strategies. By analyzing the intricate relationships between decentralized technologies, algorithmic decision-making, and traditional governance frameworks, the study reveals how these innovative technologies are reshaping organizational structures, operational transparency, and strategic decision-making processes. The investigation explores the multifaceted implications of blockchain and AI integration, demonstrating their potential to address critical challenges such as operational inefficiency, compliance complexity, and trust deficits in contemporary corporate environments. Through comprehensive empirical analysis and theoretical examination, the review illuminates the revolutionary potential of these technologies to create more adaptive, intelligent, and responsive governance ecosystems that transcend conventional organizational boundaries and limitations.
We investigate the evolving relationships between cryptocurrencies and equity portfolios and find that Bitcoin’s contributions to the active risks of equity portfolios have grown over time, exceeding 10% in defensive strategies. This underscores the increasing importance of investment professionals quantifying and managing crypto-related risk exposures in their portfolios, a task for which we provide guidance. For risk measurement, we use intraday returns to significantly improve the forecast accuracy of equity portfolio sensitivities to cryptocurrency risks. For risk management, we advocate direct hedging for optimal risk reduction and suggest using stock selection constraints as an alternative approach to limit the influence of cryptocurrencies on portfolio risk exposures.
This study investigates whether cryptocurrency investments have a distinct impact on corporate liquidity depending on when they are held and the stage of a firm’s life cycle at the time of holding, using a sample of Korean companies. The empirical findings first show that cryptocurrency investments affect a company’s liquidity differently depending on when they are held. The findings demonstrate that, three years prior, labeled as t-1, t-2, and t-3, the two-year-old cryptocurrency investments appear to have greatly increased the company’s financial liquidity. Second, this study discovers that cryptocurrency investments have a different effect on a company’s liquidity based on the four stages of its life cycle, which comprise Introduction, Growth, Maturity, and Decline, at the time of holding. According to the findings, cryptocurrency investments at the Mature stage appear to contribute significantly and positively to the company’s financial liquidity. When the coefficients of interaction terms between each year and each life cycle are examined, it is observed that the holding of cryptocurrencies at the Mature stage in year t-2 has the most favorable influence on the company’s financial liquidity in year t. Although the findings do not conclude that the company’s cryptocurrencies held in year t-2 and at the Mature life cycle stage are the only ones that improve financial liquidity, they do suggest that a corporation may profit if it makes astute cryptocurrency investments at the appropriate time to suit its specific set of circumstances.