Pushpa Bandari, S K Shabana Begum, Thota Nikhitha, Shaik Jareena · 5 authors
The integration of blockchain technology into green finance has emerged as a transformative approach to fostering sustainable investments, particularly in developing economies like India. This study explores how blockchain enhances transparency, accountability, and efficiency in green finance mechanisms, thereby promoting environmental sustainability. By leveraging features such as decentralization, smart contracts, and immutable records, blockchain can address challenges like fraud, inefficiency, and lack of trust in green financial transactions. The study employs a mixed-methods approach, utilizing surveys and statistical analysis to assess blockchain’s impact on green investment tracking and regulatory compliance. Findings indicate that blockchain significantly improves transparency (β = 0.42, p < 0.01) and automation (β = 0.35, p < 0.01), positively influencing green finance adoption. However, regulatory uncertainty and high implementation costs remain key barriers. The study suggests policy reforms, financial incentives, and capacity-building initiatives to enhance blockchain adoption in India's green finance sector. With strategic interventions, blockchain can serve as a catalyst for accelerating the transition toward a more sustainable and transparent financial ecosystem.
Addressing the shortcomings of the Voluntary Carbon Markets (VCMs), a nascent blockchain industry has disrupted this area with an ever-growing number of projects leveraging open-source, decentralised base-layer platforms (e.g. Ethereum, Cosmos) and business-oriented decentralized applications (Dapps). Building on this emerging digital infrastructure over the Internet, community-driven decentralized autonomous organizations (DAOs) are building new socio-technical systems for decentralized finance (DeFi) and, more recently, regenerative finance (ReFi). Both areas are making their way into VCMs promising improved transparency, efficiency and greater accessibility. This paper examines the goals, scope, and intended outcomes of prominent blockchain-based ReFi projects in the VCM space. In particular, it explores the potential for commons-based outcomes emerging from peer-to-peer configurations in the VCM. Using a qualitative approach, the study analyses text-data from industry whitepapers focusing on the cases of Celo, Regen, Toucan, Klima and Moss. The findings show the ReFi ecosystem as a low-transaction-cost environment fostering open-source prototypes of peer-production for carbon accounting and trading. These innovations materialize through application interfaces operating on base-layer blockchains running smart-contracts and tokens. The tokenization of real-world assets (RWA) or rights (e.g. renewable energy generation, storage capacity, or forestry land) and the automation of operations (e.g. exchanges) via smart contracting, provides participants with new affordances for secure, bi-directional coordination in near-real time. The preliminary conclusion is that, while the ReFi organizations considered seem to be Ostrom-compliant with regard to some principles (e.g. clearly defined boundaries, procedures for making own rules, monitoring, or minimal recognition of rights) others are still ad-hoc practices or work in progress (e.g. graduated sanctions or dispute resolution mechanisms). This study contributes to the critical exploration of enhanced governance mechanisms, enabled by technological innovation, that can address climate action challenges and provide viable alternatives to traditional market-based approaches.
Oghenerume Augoye, Adekunle Adewoyin, Olugbenga Adediwin, Audu Joseph Audu
Artificial Intelligence (AI) is transforming energy financing by enhancing decision-making, optimizing investment portfolios, and improving risk assessment in sustainable infrastructure projects. This review explores the role of AI in energy financing, focusing on its applications in risk evaluation, credit scoring, investment optimization, and the development of climate-aligned financial strategies. AI-driven predictive analytics enable investors to assess the financial viability of renewable energy projects, identify high-impact opportunities, and optimize asset allocation. Additionally, AI-powered models enhance credit scoring for energy developers, facilitating access to funding for clean energy initiatives. The integration of AI with blockchain and smart contracts is also revolutionizing energy financing by ensuring transparency, reducing fraud, and automating financial transactions in sustainable projects. Furthermore, AI plays a crucial role in the management and monitoring of green bonds, improving impact assessment and ensuring accountability in climate finance. However, several challenges hinder AI-driven energy financing, including data limitations, regulatory gaps, cybersecurity risks, and potential biases in AI decision-making models. Ensuring data quality, developing ethical AI frameworks, and addressing cybersecurity concerns are essential for AI’s successful adoption in energy investment strategies. Future opportunities lie in AI-driven predictive analytics for emerging markets, enabling better financing mechanisms for off-grid and decentralized energy solutions. AI can also enhance public-private partnerships by optimizing investment structures and improving government funding allocation for renewable energy projects. As AI continues to evolve, it holds the potential to reshape energy financing, drive sustainable investments, and accelerate the transition to a low-carbon economy. This review underscores the need for collaborative efforts among policymakers, financial institutions, and technology providers to maximize AI’s potential in sustainable energy infrastructure financing while addressing its inherent challenges.
Green finance and sustainable investment strategies have gained significant attention as key mechanisms to address global environmental challenges and drive sustainable development. This study employs bibliometric analysis to explore the thematic, geographical, and temporal trends in research on green finance and sustainable investments, using data from the Scopus database. The findings reveal that central themes, such as "sustainability," "green economy," and "investments," dominate scholarly discourse, with growing emphasis on emerging topics like "green technology innovation" and "decentralized finance." China, the United Kingdom, and European nations are identified as leading contributors to research in this field, with notable collaborations across regions. However, disparities in regional representation and challenges such as inconsistent ESG frameworks and perceived financial risks hinder the adoption of green finance globally. The study highlights opportunities for harmonizing global standards, leveraging technological innovations, and expanding research in underrepresented regions. These insights provide valuable guidance for policymakers, financial institutions, and researchers aiming to enhance the effectiveness of green finance and sustainable investments.
Climate change impact on the Blue-Green economy has been of great concern. Further cryptocurrency mining is impacting the economy in an adverse fashion. Moreover, impact of gold mining, extraction on Blue-Green economy and even relationship with cryptocurrency is another interesting facet. Therefore, we delved into the interconnectedness among five indices, two of which focus on the green economy (ICLN-iShares and CNRG-SandP), whereas three are on the blue economy (BJLE- BNP Paribas ESG Blue Economy ETF and PIO-Invesco Global Water ETF) and OCEN (IQ Clean Oceans ETF) alongside the traditional assets Bitcoin and gold indices. We considered between October 26, 2021, to January 5, 2024 for the study. This study highlighted some cardinal findings. First, BJLE can be used as a hedge against OCEN and PIO (all are in Blue economy). Second, excessive water usage in Bitcoin mining is detrimental to Blue-Green economy. Third, positive policy shock force spillover effect to cool down. Fourth, spillover typically increases as both economic uncertainty (US Banks collapse in 2023) and geopolitical risk (Russia-Ukraine conflict) increase. Fifth, there has been an increased responsiveness of these markets to immediate events (near-term bias). Therefore, this study would assist the policymakers and investors, especially in the Blue-Green domain.
Abstract We construct a new daily measure of uncertainty about economic policy for Korea. The economic policy uncertainty (EPU) index is extracted from the reporting about economic policy in major Korean newspapers. We then investigate how daily EPU affects the Kimchi premium, which is the ratio of the Bitcoin price in Korea to that in the United States, adjusted for the exchange rate. Our findings indicate that an increase in Korea's EPU makes Bitcoin more expensive in Korea, while the U.S. dollar strengthens against the Korean won. The stronger appreciation of the U.S. dollar outweighs the increase in Bitcoin prices, thereby lowering the Kimchi premium. Similarly, an increase in U.S. EPU has comparable but weaker effects. The appreciation of the U.S. dollar almost entirely offsets the higher relative price of Bitcoin in Korea, resulting in no significant impact on the Kimchi premium from changes in U.S. EPU. In addition, the results suggest that the Kimchi premium tends to rise with increased trading volume in Korea but decreases as trading volume increases in the United States. We also document that while the Kimchi premium is positively associated with Bitcoin price volatility in Korea, it is not significantly related to that in the United States.
The intersection of Environmental, Social, and Governance (ESG) investing and decentralized finance (DeFi) introduces innovative pathways for integrating sustainability into financial markets. This study conducts a comparative analysis of ESG-focused DeFi protocols, such as KlimaDAO and Regen Network, and traditional ESG investment funds, including the Vanguard ESG U.S. Stock ETF and BlackRock Sustainable Advantage Large Cap Core Fund. Using data from March 2021 to March 2023 and quantitative methods such as ordinary least squares (OLS) regression, the study evaluates financial performance, transparency, and impact assessment. Results indicate that ESG-focused DeFi protocols provide enhanced transparency and potential for higher returns but are hindered by greater volatility and regulatory uncertainty. Conversely, traditional ESG funds offer stability and robust governance frameworks but lack the real-time transparency inherent to DeFi platforms. The findings underscore the need for standardized ESG reporting and offer actionable insights for investors aiming to align sustainability goals with financial performance
This article assesses the temporal and dynamic interconnectedness of cryptocurrency, gold, energy, and stock markets, essential for portfolio diversification. Using a TVP-VAR model, we analyze the return and realized volatility from November 11, 2013, to August 22, 2022. The study focuses on Bitcoin, gold, and renewable energy dynamics. Findings show that volatility shocks are most significant in the crude oil market, while Bitcoin's relationship with other assets is weak during non-crisis periods. Gold and Bitcoin's connection is less pronounced during crises. These results provide insights for portfolio optimization in both crisis and non-crisis periods.
Hanen Ben Ameur, Fouad Jamaani, Mohammed N. Abu-Alfoul
This paper examines gold and cryptocurrencies' hedge and safe-haven capabilities against various downturns, including the COVID-19 pandemic and Geopolitical Risks (GPR), across different market conditions. The study covers a sample period from 2013 to 2021 at a daily frequency, employing the GARCH model and quantile regression with binary variables. The empirical results indicate that neither gold nor cryptocurrencies can act as strong hedges against infectious disease pandemics. However, gold, Bitcoin, and Ethereum exhibit weak safe-haven abilities during geopolitical risks. Using regression quantiles, the study finds that gold demonstrates a strong safe-haven against low and high Infectious Disease Epidemic Market Volatility (IDEMV) during extremely bearish and bullish markets. In contrast, Bitcoin and Ethereum act as strong safe havens only against low IDEMV during extreme bearish markets. Gold also shows a strong hedge propriety against extreme geopolitical events, while cryptocurrencies provide a weak hedge. Overall, gold exhibits strong safe-haven properties against low and high Geopolitical tensions, while cryptocurrencies' hedging and safe-haven abilities vary across markets. These findings convey insights for investors and guidance to supervisors on the evolution of gold, Bitcoin, and Ethereum as safe-haven and hedge instruments during both bearish and bullish markets.
Based on the provincial panel data from China, this study explores the impact of digital finance on provincial carbon productivity. Further, the regional heterogeneity and spatial spillover effect, the moderating effects of financial supervision and environmental decentralization, and the mediating effect of green technology innovation are analyzed. The results show that digital finance can significantly improve provincial carbon productivity, and clearly promote carbon productivity in the underdeveloped provinces (i.e., central and western regions), but not in the economically developed provinces (i.e., eastern region). Digital finance has a positive spatial spillover effect on carbon productivity. In addition, financial supervision and environmental decentralization play moderating effects in the impact of digital finance on carbon productivity. Green technology innovation plays a partial mediating effect in the impact of digital finance on carbon productivity. This study provides a reference for improving carbon productivity and developing a low-carbon economy.
This paper investigates the relationship between geopolitical risks (GPR) and the growth rate of Bitcoin (BTC) volume. Our analysis utilizes dynamic panel data from 33 individual countries and the European economic region. Empirical results demonstrate that GPR has a significant positive impact on BTC volume growth, particularly in developing countries. Our results are confirmed by several robustness checks, like Lagged IV, and volatility check among others. Our study offers a new perspective on BTC, as the novelty of the data used helps us understand the dynamics of BTC volume.
Ijaz Younis, Anna Min Du, Himani Gupta, Waheed Ullah Shah
Decentralized Finance (DeFi) assets, commodities, and Islamic stock market cointegration are affected by technological innovations, market dynamics, investor behavior, and crises. This study investigates the dynamics of returns and volatility for three DeFi assets, six commodities, and three Islamic stock markets from December 2019, to March, 2023, and identifies higher spillover effects during crises. Links among the Cross-DeFi, commodity, and Islamic markets significantly influence returns and volatility during crises. Notably, the commodities index emerged as a pivotal and substantial transmitter of risk during the Russian-Ukraine war crisis, with Emerging Markets (EM) being a key recipient. However, during the COVID-19 pandemic, livestock indices assume the role of prominent risk-return spillover receivers. The findings indicate robust returns and volatility interconnected between DeFi assets and Islamic markets with a moderate level of connectivity among commodity groups. WDI, ACWI, and EM explained 75 % of the variance observed during crisis episodes. This study formulates strategic portfolio management within and between connectedness among return volatilities by highlighting the stability of DeFi assets, the diversification potential in commodities, and a balanced option in Islamic markets. Our study provides a deep and insightful understanding of the stakeholders across markets during crises. • Notable spillovers in DeFi, commodities, and Islamic markets during crises. • Commodities drove risk during the Russian-Ukraine war, affecting Emerging Markets. • DeFi stability, commodity diversification, and Islamic market balance guide crisis management.
This paper aims to comprehensively examine the impact of China's environmental decentralization on corporate environmental, social, and governance (ESG) performance and investigate the underlying mechanisms. We analyze data from Chinese listed firms spanning from 2010 to 2020. The empirical findings demonstrate that: Firstly, environmental decentralization significantly inhibits corporate ESG performance. Secondly, fiscal decentralization acts as a moderating factor whereby an increase in its level strengthens the inhibitory effect of environmental decentralization on corporate ESG performance. Thirdly, heterogeneity analysis reveals that the impact of environmental decentralization varies across different types of firms in terms of their ESG performance. Privately-owned, high-polluting, and high-tech companies are particularly inclined to reduce their ESG performance with increasing levels of environmental decentralization. Finally, our mechanism analysis indicates that environmental decentralization curtails ESG practices by exacerbating financing constraints for firms and deregulating ecological environments. These conclusions remain robust after addressing potential endogeneity issues and conducting various sensitivity tests. These findings offer valuable insights for policymakers to promote sustainable economic development.
Umar Nawaz Kayani, Mirzat Ullah, Ahmet Faruk Aysan, Sidra Nazir · 5 authors
This study delves into an exploration of quantile connectedness across the domains of digital and traditional financial assets with the renewable energy prices index. The daily frequency dataset, spanning from January 02, 2018, to December 04, 2023, encapsulates diverse economic crises. Our inquiry elucidates distinctive patterns by employing empirical analyses utilizing quantile connectedness and Time-Varying Parameter Vector Autoregressive (TVP-VAR) methodologies. In this context, DeFi assets (Chain-link) emerge as the primary recipient of information shocks, while Bitcoin distinguishes itself as the preeminent transmitter of such shocks within the network. Notably, digital assets manifest heightened volatility in contrast to traditional and energy indices. Furthermore, our findings underscore that the gaming industry, specifically focusing on Non-Fungible Tokens (NFT), presents itself as the most fitting asset for portfolio inclusion. This assertion gains credence from its comparatively lower degree of connectedness with other underlying assets. These findings have significant implications for investors and portfolio managers, furnishing valuable insights into the dynamics of asset interdependencies. Consequently, this aids in cultivating a more discerning approach to investment decision-making. • Bitcoin is a significant transmitter of shocks, whereas DeFi assets like Chain-link predominantly receive them, highlighting their central roles in financial networks. • Digital assets exhibit higher volatility than traditional and energy assets. The gaming industry, notably through Non-Fungible Tokens (NFTs), offers potential for portfolio diversification due to their minimal connectedness with other asset classes. • The study provides critical insights into the interconnectedness of various assets, crucial for investors and portfolio managers to refine investment strategies and enhance decision-making.
Cryptocurrencies have exploded in popularity since the launch of Bitcoin in 2009 and are collectively worth over $1 trillion. Despite its prevalence, the impact of Bitcoin on traditional financial markets and its influence on other asset classes, such as Environmental, Social, and Governance (ESG) indices, remains unexplored. The current paper focuses on determining the impact of bitcoin prices on the volatility of ESG indices. We use data from the Dow Jones Sustainability Indices family, such as DJSI World (DW), DJSI North America (DNA), DJSI Europe (DE), DJSI Asia Pacific (DAP), and DJSI Emerging Market (DEM). Data was collected for the period from 2012 to 2023. The CBOE market volatility index (VIX) is included to increase the scope of our study. For estimation purposes, Westerlund & Narayan's (2015, 2012) distributed lag model was used to explore the relationship between the realized volatility of ESG index and bitcoin prices. Results indicate that bitcoin prices have no interconnectedness with ESG indices volatility. Further, the correlation between the volatility index (VIX) and ESG indices reveals a negative relationship, strengthening model findings. The bitcoin market is modest; however, ECG indices cover a wide range of industries and sectors, leaving it less vulnerable than the bitcoin market. The findings provide empirical bases to the investors for optimal portfolio allocation. Received: 5 May 2024 / Accepted: 22 August 2024 / Published: 05 September 2024
The difficulty of regulating carbon trading due to information asymmetry and low consumer trust in low-carbon products are key factors hindering companies from reducing emissions. This paper examines a manufacturer-led secondary low-carbon supply chain consisting of a single supplier and a retailer, focusing on the impact of blockchain technology on carbon transaction costs and consumers’ low-carbon preferences. Utilizing Stackelberg game theory, the paper constructs a supply chain decision model for emission reduction, determining the payment matrix and analyzing the stable strategy for blockchain adoption through evolutionary game theory. The findings indicate that retailers’ adoption of blockchain technology significantly promotes emission reduction within the supply chain, whereas manufacturers’ adoption has minimal impact. Additionally, the study reveals that variations in blockchain adoption costs and carbon quotas result in multiple evolutionary stable strategies. Specifically, when blockchain adoption costs and carbon quotas are below certain thresholds, the system reaches a unique equilibrium where both parties adopt blockchain technology.
Ijaz Younis, Muhammad Abubakr Naeem, Waheed Ullah Shah, Xuan Tang
This study analyzes the inter-dependence of the oil, gold, Bitcoin (BTC), and Gulf Cooperation Council stock markets during the recent Russia–Ukraine and Israel–Palestine conflicts. The study found that these markets were less inter-connected during oil battles and the Russia–Ukraine conflict but more inter-connected during the COVID-19 crisis. Findings indicated that Oman, Kuwait, gold, and Qatar are the most significant spillover receivers, whereas the United Arab Emirates (UAE), Kingdom of Saudi Arabia, and West Texas Intermediate are the primary risk spillover transmitters in the Israel–Palestine conflict. Additionally, BTC and the UAE are significant transmitters, whereas Kuwait and Qatar are the highest-risk spillover receivers in the Russia–Ukraine war. Portfolio estimates revealed that gold, BTC, and/or oil are useful in various equity markets for portfolio diversification and hedging under different market conditions and time horizons. These data can guide managers in portfolio construction and risk diversification. • We examine the connectedness between oil, gold, bitcoin, and the GCC equity markets. • Gold is the net recipient in all frequencies and sub-sample periods. • Connectedness becomes lower in the oil battles, while higher in the COVID-19. • Oil (bitcoin) is the net recipient during the oil battle periods. • We estimate optimal portfolio weights and hedge ratios for portfolio strategies.
Hongjun Zeng, Qingcheng Huang, Mohammad Zoynul Abedin, Abdullahi D. Ahmed · 5 authors
We investigate the return interdependence among green bonds, cryptocurrency indices and green energy-related metals. We apply time-varying parametric vector autoregression (TVP-VAR) conenctedness, wavelet coherence, Wavelet Quantile Correlation （WQC) and Quantile on Quantile (QQR) Connectedness Methods. Our empirical findings show that return connectedness has become even stronger after the outbreak of COVID-19, with both green bonds and cryptocurrency indices acting as net receivers of return spillovers. Surprisingly, Copper functioned as a net sender of return spillovers over the entire observation period. Findings revealed that the cryptocurrency index exhibited a consistent positive correlation with the green energy-related metals market at medium to short-term frequencies, whereas green bonds showed a negative correlation with metals market at short-term frequencies and a positive correlation at long-term frequencies. • After the outbreak of COVlD-19, the return interdependence became stronger. • Copper functioned as a net sender of return spillovers throughout the entire observation period. • The green bond market led the movements in the Lead and Aluminium markets at medium to long-term frequencies. • Following the outbreak of COVlD-19, returns in the cryptocurrency market influenced the Copper and Lead markets. • The cryptocurrency index consistently showed a positive correlation with the green energy-related metals market.
The study aimed to analyse the possibilities of using blockchain technology to increase transparency and efficiency in sustainable finance. The application of blockchain technologies and environmental and social practices in the context of sustainable finance was analysed, emphasising implementation and prospects in Kyrgyzstan. Blockchain, as an innovative decentralised data recording technology, provides a high level of security, transparency and immutability, which renders it particularly valuable for the financial sector. The study highlighted how blockchain can improve international transfer processes, increase the transparency of financial transactions and simplify the management of smart contracts, and noted existing challenges such as scalability and legal issues. The role of blockchain technologies in sustainable finance, especially in the field of green investments, was highlighted as an important aspect of the study. The introduction of blockchain in areas such as green project financing and social initiative management can help increase investor confidence and improve investment performance. Financial technology is also central in shaping new approaches to finance and investment, facilitating access to capital through crowdfunding and person-to-person (P2P) lending platforms. The introduction of environmental and social practices in financial institutions of the Kyrgyz Republic demonstrates the growing attention to corporate responsibility and sustainable development, despite the initial stage of their implementation. On international stage, successful projects such as the use of blockchain to track supply chains, green bonds and carbon credit management demonstrate the potential of technology to improve the transparency and efficiency of sustainable finance. These examples can be used by Kyrgyzstan in developing and implementing domestic blockchain and environmental and social initiatives, contributing to more sustainable economic growth and attracting international investment
This study addresses the ongoing debate concerning the environmental implications of cryptocurrencies. Specifically, it investigates the impact of Bitcoin trading volume on water and sanitation (Sustainable Development Goal (SDG) 6) and climate action (SDG 13). The research employs Ordinary Least Squares (OLS) panel data analysis to examine these relationships using a sample of 32 countries with available Bitcoin trading volume data from 2013 to 2020. The findings indicate that Bitcoin trading significantly and positively impacts progress towards SDG 6, suggesting potential benefits for water and sanitation initiatives. However, the study reveals a significant negative impact of higher Bitcoin trading volume on increased carbon emissions, underscoring the environmental costs associated with cryptocurrency activities. Similar impacts are observed for gold reserves, as their mining necessitates substantial energy consumption. These results highlight the need to regulate cryptocurrency trading and promote voluntary sustainable practices, particularly given the disparities between developed and emerging markets based on their governance frameworks. Additionally, the study considers the disparities between countries based on technology exports and economic policy uncertainty as influential determinants. The study's results emphasize the importance of proactive measures to ensure the responsible and sustainable use of cryptocurrencies. While cryptocurrencies offer significant economic returns, their early adoption stage necessitates further investigation into environmentally friendly approaches. Potential strategies include directing financial returns from cryptocurrencies towards alternative energy projects and supporting other environmental SDGs, thereby fostering a positive impact on the overall ecosystem. The study's implications extend to policymakers, regulators, and stakeholders, advocating for comprehensive and collaborative efforts to integrate sustainability into the rapidly evolving cryptocurrency market. This integration is crucial to ensure that the economic benefits of cryptocurrencies do not come at the cost of our environment.
This study aims to analyze the impact of internal variables, including total Ethereum, number of transactions, fees per transaction, and number of active wallets, as well as external variables, namely the price of Bitcoin and the price of gold, on global Ethereum prices. The study utilizes daily data covering the period from December 31, 2016, to December 31, 2021. The data analysis employs time series data with the assistance of Eviews 10 and the error correction model (ECM) method. The study's findings indicate that total Ethereum, number of transactions, fees per transaction, number of active wallets, price of Bitcoin, and price of gold collectively exert a significant influence on Ethereum prices. However, when examined individually, total Ethereum demonstrates a negative impact and lacks statistical significance on Ethereum prices. Similarly, the number of transactions exhibits a negative and significant effect on Ethereum prices. Conversely, transaction fees, number of active wallets, and the price of Bitcoin have a positive and significant impact on Ethereum prices. Meanwhile, global gold prices do not exhibit any influence on Ethereum prices.
Blockchain technology (BC) and big data analytics capability (BDAC) are two crucial emerging technologies that have attracted significant attention from businesses and academia. However, their combined effect on business model innovation (BMI), along with the moderating role of environmental uncertainty and the mediating influence of corporate entrepreneurship, remains underexplored. To fill this gap, the present study investigates the combined effects of BDAC and blockchain adoption on BMI and explores the mediating role of corporate entrepreneurship as well as the moderating effect of environmental uncertainty. Drawing on the dynamic capability view (DCV) and the related literature, this study investigates these relationships using a conceptual framework hypothesising that (1) BDAC and blockchain adoption affect BMI through corporate entrepreneurship and (2) environmental uncertainty moderates these relationships. Consistent with the main theoretical arguments, our results, based on a sample of 284 employees working in Australian firms, indicate direct and indirect impacts of both BDAC and blockchain adoption on BMI. Corporate entrepreneurship was found to play a partial mediating role in the relationship between the two technologies, while BMI and environmental uncertainty were found to be significant moderators. These findings have significant theoretical and practical implications for companies striving to innovate their BMI. The results suggest that the synergistic effects of BDAC and blockchain technologies together create entrepreneurial activities and strategies to generate value, thus enabling BMI. Furthermore, the mediating role of corporate entrepreneurship and the moderating effect of environmental uncertainty have important theoretical implications for innovative BMI and management. As such, this study highlights the potential of BDAC and blockchain technologies to drive sustainable business practices, offering insights into how these technologies can contribute to economic, social, and environmental sustainability through innovative business models.