As the Ethereum platform continues to mature and gain widespread usage, it is crucial to maintain high standards of smart contract writing practices. While bad practices in smart contracts may not directly lead to security issues, they do elevate the risk of encountering problems. Therefore, to understand and avoid these bad practices, this paper introduces the first systematic study of bad practices in smart contracts, delving into over 35 specific issues. Specifically, we propose a large language models (LLMs)-based framework, SCALM. It combines Step-Back Prompting and Retrieval-Augmented Generation (RAG) to effectively identify and address various bad practices. Our extensive experiments using multiple LLMs and datasets have shown that SCALM outperforms existing tools in detecting bad practices in smart contracts.
This study explores the implementation of blockchain technology, specifically smart contracts, within the Land Registry and Survey Department to enhance sustainable development in Jordan. Utilizing a quantitative, cross-sectional survey design, the research targeted 12,450 employees of the Jordanian Department of Lands and Survey, with a stratified random sample of 448 respondents. The data, gathered through online surveys and analyzed via Partial Least Squares Structural Equation Modeling (PLS-SEM), reveals significant positive relationships between blockchain implementation facets—such as Security and Fraud Prevention, Efficiency and Automation, Regulatory Compliance, Transparency and Trust, and Accessibility and User Experience—and sustainable development outcomes. Despite these promising results, the study acknowledges critical challenges such as the need for technical expertise, regulatory frameworks, and initial investment hurdles. Addressing these challenges is crucial for balanced implementation and sustained engagement with the technology. The model accounts for 77.6% of the variance in sustainable development, highlighting blockchain's potential to simultaneously tackle multiple land administration challenges. This research provides empirical evidence of blockchain's impact on sustainable development, offering a comprehensive framework for its application in land registries, particularly in developing nations. The findings hold significant implications for policymakers, land registry administrators, and technology implementers, underscoring the importance of integrating technological innovation within existing regulatory and institutional contexts to achieve sustainable economic, environmental, and social growth.
In the past years cryptocurrency has seen a rapid global boost in both popularity and value. Around 562 million people in the world possess some type of cryptocurrency. There have been discussions and research on the viability of cryptocurrency as a global currency in terms of transactions. The cryptocurrency with the highest likelihood to achieve this feat is Bitcoin, owing to its highest popularity, value and ownership. Notwithstanding, many more factors affect the possibility of Bitcoin emerging as a global currency. Financially, economists have analyzed possibilities like these, but the purpose of this research was to judge whether Bitcoin was a considerable option from the sustainability point of view. The primary outcome of this research has been that the amount of energy required for Bitcoin to impact the global economy as a global currency in transactions is more than what can be invested in it for the next few decades. Moreover, if we do achieve enough energy production to power Bitcoin at this level, due to simple economic rules of supply and demand, proof-of-work (PoW) technology-based cryptocurrencies will lose any actual value due to the negligible cost of the resources required to acquiring it. Hence, it is impossible to sustain cryptocurrencies like Bitcoin as a global currency in the upcoming years unless they switch to the modern proof-of-stake (PoS) infrastructure of blockchain. With major drop in energy prices, the only resource contributing to the value of cryptocurrencies would be time and the mining power (hashrates) of the ASICs (ApplicationSpecific Integrated Circuit) involved in mining. This will further lead us down the path to total exhaustion of limited resources of silicon and induce an inflationary effect in the chipset market like what was experienced in 2020, due to hoarding and stocking of graphic cards by mining rigs around the world. However, the analysis of shortage of silicon is beyond the scope of this study.
The fintech industry is experiencing rapid transformation driven by technological advancements, regulatory changes, and evolving consumer preferences. Emerging trends such as blockchain, artificial intelligence (AI), decentralized finance (DeFi), and embedded finance are reshaping financial services. These innovations are enhancing efficiency, improving financial inclusion, and disrupting traditional banking models. In India, fintech has gained significant traction due to increasing smartphone penetration and digital payment adoption. However, challenges such as cybersecurity threats, regulatory compliance, and financial literacy persist. This study examines emerging fintech trends, their impact on the Indian and global economy, and the sustainability and social implications of these advancements. Secondary data from industry reports, scholarly articles, and regulatory bodies are analyzed to understand fintech's evolving landscape. The study provides insights into both the positive and negative aspects of fintech adoption and suggests strategies for sustainable growth.
The development of cryptocurrencies continues to experience a very rapid in-crease with the prediction of average growth of more than 1 million investors every month around the world. However, it is different in Indonesia, people do not know widely what cryptocurrency is and how to invest in cryptocurrency. The Indonesian Ministry of Trade noted that in the second quarter (Q2) of 2020, cryptocurrency investors experienced an increase of up to 6.4 million investors, but when compared to the total population of Indonesia, this figure is still very far below 1%, plus economic conditions after the Coronavirus pandemic are getting worse. discourage people from investing. When viewed from the fundamental side, cryptocurrency assets can be said to be quite strong against the pandemic, compared to the stock market and mutual funds listed on the Indonesian stock exchange (IDX) which have decreased due to the coronavirus pandemic. In this study, we propose a gamification method by focusing on the introduction of cryptocurrency investments with the aim that people in Indonesia can be more familiar with and invest in cryptocurrency, the methods, and systems that we propose will at the same time reward users in the form of crypto assets to attract people to better understand the opportunities. investing in cryptocurrency.
Studi ini mengkaji peranan keuangan berkelanjutan dalam mendorong transisi menuju ekonomi hijau. Melalui pendekatan bibliometrik yang memanfaatkan database Scopus dan alat visualisasi VOSviewer, penelitian ini mengidentifikasi dan menganalisis tren dalam literatur akademis mengenai keuangan berkelanjutan dari tahun 2000 hingga 2025. Hasil analisis menunjukkan bahwa keuangan berkelanjutan tidak hanya berperan sebagai alat pembiayaan untuk proyek-proyek ramah lingkungan tetapi juga sebagai mekanisme penting dalam mempromosikan pertumbuhan ekonomi yang berkelanjutan, efisiensi sumber daya, dan inovasi. Penelitian ini juga menyoroti peran penting dari instrumen keuangan seperti green bonds, serta munculnya teknologi baru seperti decentralized finance (DeFi) yang membawa perspektif baru dalam praktik keuangan berkelanjutan. Kendala utama termasuk greenwashing dan kurangnya standarisasi dalam pelaporan ESG, menuntut adanya perbaikan regulasi dan kolaborasi internasional yang lebih erat. Studi ini menyimpulkan bahwa integrasi efektif dari keuangan berkelanjutan dapat signifikan dalam mewujudkan ekonomi hijau global yang inklusif dan berkelanjutan.
Abstract Fintech is financial technology it refers to the integration of technology into financial service to improve the efficiency, accessibility and security. fintech innovation leverage advancements in artificial intelligent (AI), block chain system, cloud mapping, digital payment, regulatory technology (Regtech), and big data to transform traditional financial processes. Fintech is emerging concepts in financial industry In this research paper we aim to focus on opportunities and challenges in Fintech it explain the evolution of the Fintech Industry and present financial technology in Indian finance sector. It provides alternative solutions for Banking and Non-Banking finance services. the benefits of Fintech service India fastest growing in the world it provide digitization transaction and more secure for the user and this services are going to change the habits and behavior of the Indian finance sector Fintech enhances financial inclusion by offering services to underbanked populations while reducing costs and increasing transaction speed. The future of Fintech is shaped by trends like decentralized finance (DeFi), embedded finance and AI-driven financial solutions, promising a more efficient and accessible global financial ecosystem.
Open access
2 source records
FinTech, Crowdfunding, Digital Finance
Innovations and Analysis in Business and Education
General Background: Blockchain technology has gained significant global attention due to its potential to enhance transparency, security, and efficiency in various domains, including business forecasting. Specific Background: The integration of blockchain into forecasting mechanisms can improve supply chain efficiency, inventory management, and market demand prediction. Knowledge Gap: Despite its potential, limited research has systematically examined blockchain's role in forecasting capabilities, particularly through a bibliometric analysis approach. Aims: This study employs R Studio and VOSviewer to analyze bibliometric data from Scopus, aiming to identify trends, influential publications, and research gaps in blockchain-based forecasting. Methods: A systematic bibliometric analysis was conducted on 287 relevant articles published between 2015 and 2023, focusing on citation networks, keyword co-occurrence, and thematic clustering. Results: The findings indicate that forecasting is a dominant research theme, with China contributing the most publications. Key studies highlight blockchain's role in cryptocurrency prediction, supply chain management, and decentralized finance. Novelty: This research provides the first comprehensive bibliometric mapping of blockchain-based forecasting, revealing emerging trends and future directions. Implications: The study informs businesses, policymakers, and researchers on leveraging blockchain for predictive analytics, offering insights for enhancing decision-making in finance, trade, and supply chain management.
Ghassan Adhab Atiyah, Nazura Abdul Manap, Ahmed Ismael Ibrahim
In the realm of law, technology is utilized to cope with the influx of smart contracts to replace traditional contracts that govern contractual dynamics. Smart contracts differ from traditional contracts as they rely on computer codes to fulfill the contractual obligations of the involved entities. This article discusses the current state of Iraqi contract law and assesses the feasibility of integrating Iraqi law to manage and implement smart contracts within the Iraqi legal system. The study employs a qualitative approach and adopts comparative doctrinal research to investigate current legal practices, the relevant legislation, and the adaptation of Iraqi laws to smart contracts. As a result, the study reveals the inadequacy of Iraqi contract law in incorporating smart contracts into existing legal practices in Iraq. It also underscores the necessity of enacting new laws to explicitly regulate the operation of smart contracts involving the use of cryptocurrencies.
Digital financial technologies (FinTech) have revolutionized the financial industry by integrating innovations such as blockchain, artificial intelligence, and decentralized finance into traditional systems. This study explores the conceptual evolution of FinTech and its legal and regulatory implications within global markets. It addresses challenges in defining, classifying, and regulating FinTech while maintaining market integrity and consumer trust. Using an integrative literature review of recent peer-reviewed articles, policy reports, and regulatory frameworks, the study examines themes like legal classifications of digital assets, regulatory strategies, consumer protection, and governance of blockchain platforms. Findings indicate that digital finance has surpassed traditional regulatory systems, leading to legal ambiguities and enforcement issues. Solutions like regulatory sandboxes, tailored crypto-asset regulations, and international standards show promise but must balance innovation with compliance. The study concludes that adaptive regulations, robust consumer safeguards, and global cooperation are critical for FinTech’s sustainable growth and alignment with legal frameworks.
Purpose – is to provide evidence of how social networks act as an indispensable channel in the cryptocurrency phenomenon and its public perception, analysing the context in which it occurs, as well as the patterns followed and the most commonly used channels. Research methodology – this article explores and provides evidence on the relationship between cryptocurrencies and social networks through the use of digital social listening tools, exploring data retrieved from the most prominent social networks, as well as websites, forums and blogs. Findings – the urgent need to provide an adequate level of financial education in the digital economy. Research limitations – the study should be carried out by age segments to assess whether it is only a problem of the younger population, which are the habitual users of social networks. Practical implications – the cryptocurrency user or investor is aware of the existing risks associated with cryptocurrencies, especially among the young population, without underestimating the influence that social networks have had and continue to have on the perception and acceptance of digital currencies, and even on their popularity. Originality/Value – investing in cryptocurrencies requires social responsibility on the part of institutions, demanding adequate legislation and financial training for potential investors.
Sudadi Pranata, Fajrinoor Fanani, Dini Hidayati, Rosa Lesmana · 5 authors
The rapid growth of TikTok as a social media platform has transformed influencer marketing, offering brands unparalleled opportunities to engage with their target audiences. However, issues such as lack of transparency, trust, and inefficiencies in payment processes remain significant challenges in influencer marketing, highlighting a critical GAP in both literature and practice. This study addresses these challenges by exploring the implementation of smart contracts, powered by blockchain technology, as a novel solution. Smart contracts provide an automated, secure, and transparent framework for managing influencer marketing campaigns. The research employs a quantitative approach with Structural Equation Modeling (SEM) as the primary methode, utilizing the SmartPLS tool. Data were collected from 200 respondents who are active TikTok users and have engaged with influencer marketing campaigns. The findings reveal that credibility, informativeness, and entertainment positively affect advertising value, while irritation negatively impacts it. Furthermore, advertising value significantly influences advertising attitude, which, in turn, impacts purchase intention. Additionally, advertising attitude moderates the relationship between advertising value and purchase intention, strengthening its effect. These results and conclusions emphasize the transformative potential of smart contracts in enhancing transparency, trust, and efficiency within influencer marketing. By introducing blockchain-based solutions, this study makes a significant novelty contribution to the literature, offering practical insights for brands and marketers. Specifically, smart contracts enable brands to ensure fair compensation, accurate performance measurement, and improved campaign outcomes. This study underscores the importance of leveraging cutting edge technologies to address existing gaps in influencer marketing, ultimately paving the way for more effective and transaction.
Abstract From Nakamoto’s genesis block, 15 years of technological advancements, new financial instruments, regulations, and emerging participants have defined the Crypto Ecosystem. This paper chronicles its development from the creation of Bitcoin to the present-day landscape of cryptocurrencies, tokens, and decentralized finance applications. It explores the foundational technologies, financial instruments, key players, and regulatory frameworks in Europe and the US. By critically assessing the current state of the crypto market, the paper identifies both the promises fulfilled and the challenges that remain. It contributes to the existing literature by providing a synthesized understanding of the crypto ecosystem, highlighting the interplay between technological advancements and financial market dynamics.
Federico Badaloni, Sebastian Holler, Chrysoula Oikonomou, Pedro Moreno-Sánchez · 5 authors
A smart contract is an interactive program that governs funds in the realm of a single cryptocurrency. Yet, the many existing cryptocurrencies have spurred the design of cross-chain applications that require interactions with multiple cryp-tocurrencies simultaneously. Currently, cross-chain applications are implemented as use-case-specific cryptographic protocols that serve as overlay to synchronize smart contract executions in the different cryptocurrencies. Hence, their design requires substantial expertise, as well as a security analysis in complex cryptographic frameworks. In this work, we present$BitML^{x}$, the first domain-specific language for cross-chain smart contracts, enabling interactions with several users that hold funds across multiple Bitcoin-like cryptocurrencies. We contribute a compiler to automatically translate a$BitML^{x}$contract into one contract per involved cryp-tocurrency and a user strategy that synchronizes the execution of these contracts. We prove that an honest user, who follows the prescribed strategy when interacting with the several contracts, ends up with at least as many funds as in the corresponding execution of the$BitML^{x}$contract. Last, but not least, we implement the$BitML^{x}$compiler and demonstrate its utility in the design of illustrative examples of cross-chain applications such as multi-chain donations or loans across different cryptocurrencies.
Open access
3 source records
cs.CR
Blockchain Technology Applications and Security
Advanced Steganography and Watermarking Techniques
Rafael Belchior, Thomas Hardjono, Alex Chiriac, Venkatraman Ranakrishna
It is time for the legacy financial infrastructure to seamlessly connect with modern, decentralized infrastructure. Although it is increasingly evident that decentralized infrastructure for finance (namely distributed ledgers) will coexist with and complement legacy infrastructure, it is also clear that such interoperability efforts carry new risks and concerns. In particular, managing the range of heterogeneous (and not well-established) infrastructure brings security, privacy, and regulatory issues. The first step to overcome some of these challenges is to recognize that in many deployment instances using distributed ledgers, the purpose of the ledger is to share resources among the community members. The second step after recognizing that borders exist is to understand that interoperability across systems can be best achieved through the use of standardized service interfaces (or application programming interfaces (API)). In this paper we use the term ledger gateways (or simply gateways) to denote the computer and software systems that implement the standardized service interfaces into a distributed ledger. The main purpose of a gateway is to communicate with other peer gateways that implement the same standardized service interface. Among others, peer gateways perform the transfer of data and value across borders (legal or national borders). Gateways also become a mechanism to manage a permissioned environment, where abiding by laws and regulations is crucial for business compliance (e.g., EU General Data Protection Regulations (GDPR), EU MiCa regulation on digital assets, FAFT Recommendation 15, ISO 27001.
Cristian Gómez, Francisco Javier Pérez Blanco, David Granada, Juan M. Vara
Abstract Despite the increasing interest in blockchain and smart contracts, their inherent complexity has impeded widespread adoption. In order to mitigate this issue, this work introduces , a model-based framework for the development of smart contracts in Solidity that enables the treatment of contracts as models, opening up new possibilities for their enhancement and maintenance. A key benefit of is its ability to impose a development pattern, which contributes to improved code quality and reduced vulnerabilities. The framework’s effectiveness is evaluated through several case studies, showing how model-driven engineering can mitigate contracts inherent complexity and promote better collaboration between developers and domain experts. As this work will demonstrate, when smart contracts are treated as models, a vast array of possibilities unfolds.
The new trading through cryptocurrency in India commenced an important role in inspiring individuals to make investments and earn profits.This study aims to dissect the influence of behaviour on investment decisions by futuristic generation Cryptocurrency investors.This type of research is descriptive research with a quantitative approach.This research aims to test and explain the influence of the direct association between the behavioural variables on investment decisions by cryptocurrency investors through hypothesis testing.This research has a sample size of 48 investors, achieved through circulating a G-Form questionnaire using a purposive sampling technique.This research uses the F-test with the SPSS 23 application.This research shows that investor behaviour on investment decisions is duly influenced by the Herding factors, Intrinsic Motivation factors, Macroeconomic factors and Perceived assumptions like over/under confidence in their investment choices.
Financial technologies and payment applications have revolutionized money flow recently, with cryptocurrencies offering decentralization, though still limited in transactional use. This study investigates the factors influencing the use of cryptocurrencies for business transactions in North Carolina (NC). This exploratory research utilizes an extended technology acceptance model (TAM) using survey data collected from 228 North Carolina residents and applying Partial Least Squares Structural Equation Modeling (PLS-SEM) to find the relationship between the independent and dependent variables. Our results indicate that perceived usefulness, social influence, and personal innovativeness significantly impact users’ intentions to adopt cryptocurrencies as a medium of exchange. A surprising finding is that ownership has a negative effect on the intention to use cryptos for business transactions. The findings imply that regulators and cryptocurrency issuers should make the system more useful, take full advantage of social media to promote cryptos, and encourage crypto holders to use cryptos for their intended utility rather than just as speculative instruments.
The classification and regulation of cryptocurrencies have been the subject of substantial legal and academic debates, particularly in the rapidly evolving contexts of the United Arab Emirates and Saudi Arabia. This article investigates the legal nature of cryptocurrencies by analyzing their fundamental attributes, classification as commodities or currencies, and the extent to which they are supported by tangible assets. This article examines the intrinsic properties of a variety of cryptocurrencies, and the extent to which they are supported by tangible assets. In addition, the article explores the jurisprudential debate within the United Arab Emirates and Saudi Arabia, emphasizing differences in viewpoints regarding the legal and economic ramifications of cryptocurrencies. The aim of this article is to provide a thorough understanding of the legal nature of cryptocurrencies and how their characteristics influence the regulation of these currencies in Saudi Arabia and the United Arab Emirates.
This paper explores the transformative impact of digital currencies on the future of money, emphasizing their potential to revolutionize financial systems worldwide. It examines the evolution of digital currencies, including Central Bank Digital Currencies (CBDCs) and digital wallets, and their underpinning technologies such as blockchain and distributed ledger technologies. The study analyzes their implications for financial inclusion and efficiency, showing how they democratize access to financial services. It presents case studies illustrating practical applications in simplifying cross-border payments and everyday transactions, focusing on examples from China, Sweden, and the Bahamas. The research employs a mixed-methods approach, combining historical analysis, and case studies to derive its findings. The conclusion reiterates the pivotal role of digital currencies in shaping the future of money and suggests further research into their implications for global financial stability, including specific areas like regulatory frameworks, international trade impact, and long-term economic implications.
The rapid development of financial technology, or Fintech, has changed the delivery modes of financial services and ensured greater access to finance for the underserved and unserved. In this context, financial inclusion is a transformative agenda in bridging the gap between income disparities through accessible and affordable financial solutions. This chapter develops the critical juncture of digital competence with Fintech by providing analysis to how contactless payment technology, digital identification technology, and distributed ledger technology promotes greater public service. Discourses on new products, innovation, and services involving finance and financial services inclusion together with an overview on key skills and competencies from public officials that go through the effective implementation process using these technologies are put to discussion. It creates actionable knowledge about integrating Fintech into public service frameworks toward an inclusive vision of how everyone will benefit from finance in the future.
Smart contracts are programs stored on the blockchain, often developed in a high-level programming language, the most popular of which is Solidity. Smart contracts are used to automate financial transactions and thus bugs can lead to large financial losses. With this paper, we address this problem by describing a verification environment for Solidity in Isabelle/HOL. To this end, we first describe a calculus to reason about Solidity smart contracts. The calculus is formalized in Isabelle/HOL and its soundness is mechanically verified. Then, we verify a theorem which guarantees that all instances of an arbitrary contract type satisfy a corresponding invariant. The theorem can be used to verify invariants for Solidity smart contracts. This is demonstrated by a case study in which we use our approach to verify a simple token implemented in Solidity. Our results show that the framework has the potential to significantly reduce the verification effort compared to verifying directly from the semantics. • We provide a novel calculus to support the verification of Solidity smart contracts. • The calculus is formalized in Isabelle and its soundness is mechanically verified. • We demonstrate the approach by verifying an invariant for an implementation of a token in Solidity.
E-Ranch Autocare, Lagos, Nigeria, Nsisong Louis Eyo-Udo, Charles Elachi Apeh, Independent Researcher, UK · 10 authors
This review explores the profound evolution of Blockchain Technology within the realm of accounting, emphasizing its implications for transparency and accountability. As Blockchain has emerged as a disruptive force, its application in accounting practices has redefined how financial data is recorded, verified, and reported. The paper delves into key aspects of this evolution, examining the transformative potential of Blockchain in enhancing transparency, fortifying accountability, and revolutionizing traditional accounting processes. By providing an in-depth analysis of the technological underpinnings, challenges, and real-world applications, the review aims to shed light on the dynamic landscape shaped by Blockchain within the accounting profession. From the inception of distributed ledger technology to the contemporary use cases in auditing, financial reporting, and regulatory compliance, the journey of Blockchain in accounting is traced. Emphasis is placed on the decentralized and tamper-resistant nature of Blockchain, mitigating the risk of fraud and errors. The review also navigates through challenges such as scalability, regulatory frameworks, and integration hurdles faced by the widespread adoption of Blockchain in accounting. Furthermore, it explores how smart contracts and tokenization contribute to the automation of complex financial processes, streamlining transactions and improving overall efficiency. The implications of Blockchain for transparency are highlighted, showcasing how the technology ensures a single, immutable version of truth, fostering trust among stakeholders. Moreover, the review discusses the paradigm shift in accountability brought about by Blockchain, as organizations and auditors can trace every transaction back to its origin, ensuring a higher level of financial integrity. In conclusion, this comprehensive review encapsulates the evolutionary trajectory of Blockchain in accounting, offering insights into its transformative potential, challenges, and the future landscape it shapes for transparency and accountability in financial practices.
Blockchain technology has completely revolutionized the field of decentralized finance with the emergence of a variety of cryptocurrencies and digital assets. However, widespread adoption of this technology by governments and enterprises has been limited by concerns regarding the technology's scalability, governance, and economic sustainability. This paper aims to introduce a novel hybrid blockchain architecture that balances scalability, governance, and decentralization while being economically viable for all parties involved. The new semi-centralized model leverages strategies not prevalent in the field, such as resource and node isolation, containerization, separation of networking and compute layers, use of a Kafka pub-sub network instead of a peer-to-peer network, and stakes-based validator selection to possibly mitigate a variety of issues related to scalability, security, governance, and economic sustainability. Simulations conducted on Kubernetes demonstrate the architecture's ability to achieve over 1000 transactions per second, with consistent performance across scaled deployments, even on a lightweight consumer-grade laptop with resource constraints. The findings highlight the system's scalability, security, and economic viability, offering a robust framework for enterprise and government adoption.