We investigate the motivations behind non-fungible token (NFT) ownership. Utilizing survey data from NFT owners, we identify four distinct groups based on their primary motivations: (1) Utilizers, who emphasize functional uses; (2) Socializers, motivated by community and networking; (3) Speculators, focused on profit potential; and (4) Aesthetes, who appreciate artistic and cultural aspects. Our analysis indicates that individual traits such as risk-taking, impulsivity, and investment knowledge significantly influence group membership. These findings suggest that NFT users are a diverse cohort with varied motivations rather than a homogeneous group.
The transportation industry has been recognized as one of the industries that can benefit from investment in blockchain-based systems and services that enable distributed data management and improve the effectiveness and efficiency of the transportation sector. However, the literature needs a guiding framework for integrating blockchain in issuing and preserving public transportation transactions in a technical environment that is secure, efficient, and transparent. This study proposes a blockchain-based transportation wallet (BTW) framework that facilitates the main digital transactions across diverse public transportation services. BTW embodies leveraging blockchain technology, which provides a decentralized and immutable ledger that records and verifies transactions, ensuring trust and reducing the risk of fraud. The framework has been validated by developing a blockchain-based public transportation smart wallet named âRideChainâ. This serves as a single decentralized point for making public transportation transactions and payments, as well as identity authorizations and management. RideChain enhances passengersâ and service providersâ experience through a secure and authentic platform for offering several reliable public transportation transactions efficiently. In this study, we implemented a smart contract to establish a protocol between passengers and journey services. The testing methodologies used in this study comprise unit testing, integration testing, performance testing, and user acceptance testing. The findings suggest that BTW has been successfully verified to demonstrate its capability for secure transactions, authenticity of monetary transactions, automated smart contracts, decentralized identity authentication, and effortless payments.
Abstract This study examines how smart foodâsharing platforms (SFSP) can help reduce food waste and suggests a method for using smart contracts to share extra food among different partners effectively. For smart contracts to work automatically and prevent food wastage, artificial intelligence systems can recognize how smart clauses should be executed. This will involve analyzing several factors like the selling price, expiration dates, offers from other partners, transport costs, wholesale price, shelf life, donation rates, and demand rates. The findings indicate that adopting an SFSP is an efficient solution for preemptively adopting redistribution strategies and improving social outcomes through donations as well as achieving positive environmental outcomes through reduced waste. However, we also identify cases in which reducing food waste to achieve social sustainability may negatively impact economic performance.
Abstract The purpose of this study is to design, develop and evaluate a blockchain platform in the field of circular economy (CE). To achieve this aim, the research demonstrates the feasibility of designing a decentralised architecture and prototyping a distributed system to increase customer engagement in the transition toward CE. Building on previous research and leveraging on the design science research approach, the paper identifies the technical and managerial issues that must be addressed to adopt blockchain as an enabling technology in the CE domain. More in details, starting with the identification of circular sharing economy (CSE) processes, a conceptual framework was designed to evaluate how blockchain implementation has the potential to enhance the role of customers involved in CSE processes. As for the practical implications, the suggested conceptual framework reduces the knowledge gap between blockchain developers and corporate social responsibility specialists. To bridge the gap, it identifies future directions and practical guidelines for designing and implementing blockchain to support the digital and sustainable innovation of more circular firms and supply chains.
This study explores the integration of blockchain technology and smart contracts into the loan management processes of Kaagapay Cooperative, a cooperative organization in the Philippines. The research aims to enhance transparency, security, and efficiency in cooperative finance by leveraging innovative technologies. Through a quantitative research approach and qualitative data-gathering methods, the study assesses the current loan management practices, designs a user-friendly web platform, and evaluates the effectiveness of smart contracts in automating loan-related tasks. Performance testing and usability evaluations demonstrate the platform's effectiveness, with high scores indicating excellent web performance and user satisfaction. The results highlight the transformative potential of blockchain-enabled loan management systems in cooperative finance, offering valuable insights for similar initiatives in other cooperative organizations. Ultimately, this research contributes to the advancement of cooperative finance and blockchain technology, fostering financial resilience and innovation in communities.
The hotel enterprise is dealing with numerous challenges together with inefficiencies, lack of transparency, and safety issues. Blockchain technology using Smart Contract has the ability to cope with those challenges and improve the overall operations of the Hotel Booking.
With the popularity of Play-to-Earn (P2E) games, in-game token economies have become the foundation of the financial structure of virtual worlds. More and more players are investing in digital assets, promoting long-term economic growth. This paper delves into the key factors for the sustainability of the P2E game token economy: the investment value of tokens and external incentives. When tokens are no longer profitable, user churn rates rise sharply, which is critical to the continued development of P2E games. External factors also significantly impact token prices, which affects the stability and sustainability of the entire economic system. In response to these challenges, this paper proposes a series of strategies to enhance token stability, including adjustments to game design, improvements to player incentive mechanisms, and the formulation of relevant policies and regulations. The conclusions of this study aim to provide valuable insights and guidance to game designers, investors, and players to promote the healthy development of Web3 game token economic systems.
Edgar Roberto Dulce Villarreal, J. Garcia-Alonso, Julio Ariel Hurtado AlegrĂa
Purpose The use of technology applied to the care of ageing adults is a key strategy to increase the effectiveness of health care delivery, thus contributing to a higher quality of life for ageing people.However, a general and important concern is data security and privacy.Given the security provided by Blockchain (BC), the interest in this technology is growing at an accelerated pace in different contexts, and support for aging is no exception.Security in this type of technologies rests, among other things, on Smart Contracts (SC), immutable decentralized programs for BC platforms that enforce, monitor and execute agreements, without the intervention of a trusted third party.Due to the variety of technologies and their particularities, the development of SCs is a complex process, since the architectural constraints of each platform must be considered.This paper presents a Model Driven Engineering (MDE) tool that automatically generates SCs using the Solidity programming language, in the context of a senior care process, for deployment on the Ethereum platform.This tool complements and serves as a starting point for the framework presented in (E.R. D. Villarreal, et al. 2023).For this purpose, an Ethereum SEPM Platform Specific Metamodel and a Model to Text Transformation to generate the SCs (SEP2Solidity) are presented (See the additional material in a public repository 1 ).As a proof of concept, a metamodel, a model and a deployed SC was generated and implemented, using the functionality assessment on the Elderly Nursing Core Set (ENCS) (M, Lopes.2013).The ENCS assesses quality of life in terms of functioning among ageing adults (based on the International Classification of Functioning, Disability and Health (ICF)).Method Our aim to contribute to the care of ageing people began with the identification of a problem (Dulce, E., Hurtado, J. 2021).We have analyzed the contributions that BC can have in the care of ageing people and identified shortcomings of BC technology, directly in the development of SC.In the literature review, we have analyzed the significant contributions that MDE technology can have to perform the specification and transformation of SC between different BC platforms.Based on MDE, we have created a 4-level architecture, where we have defined the real-world elements (M0), the models (M1) and the meta-models (M2) required for the whole MDE ecosystem (Figure 1).For the construction of the metamodel, we followed the interactive and iterative approach proposed in (N.Sanchez, 2022) this, allows the specification of model fragments by domain experts.These fragments can be annotated with descriptions about the intent or requirements of certain elements.A metamodel is automatically induced, which can be interactively refactored and then compiled into an implementation metamodel for different platforms and purposes.In our case for the Ethereum BC platform.The Eclipse Modelling Framework development environment was used (eCore as metamodel, Acceleo for m2t transformation) and also, Remix IDE was used for SC deployment.Results and Discussion With the metamodel created, the model of an SC for the ENCS administration was created, then, with the m2t transformation, the source code of the SC was generated.Remix was then used to implement and deploy the SC (deploy.docxfile in the supplementary material).The data obtained in Remix shows the successful deployment of the SC.Furthermore, the results indicate that our metamodel is able to generate: constructors, users, assets, global and local variables, primitive data types, functions, mappings, structures, events, among others, required in SCs for Ethereum BC platforms, preserving the syntax of the solidity.Likewise, our tool can contribute in the maturation and specification of SCs that support ageing care, directly in secure and privacy data management, e.g., ENCS, since ultimately the management of their data depends on well-structured SCs.Also, moving forward in our work, we will create this same scenario for other BC platforms and programming languages.This will enhance SC transformation between different BC platforms, contributing to the interoperability and security of this entire ecosystem.
Falk, Brett, Tasneem Pathan, Andrew Rigas, Gerry Tsoukalas
In this note, we examine voting on four major blockchain DAOs: Aave, Compound, Lido and Uniswap. Using data directly collected from the Ethereum blockchain, we examine voter activity. We find that in most votes, the "minimal quorum," i.e., the smallest number of active voters who could swing the vote is quite small. To understand who is actually driving these DAOs, we use data from the Ethereum Name Service (ENS), Sybil.org, and Compound, to divide voters into different categories.
Blockchain for local communities are blockchain-based applications that support the participation of people in the social and economic life of their local community. These applications leverage tokenization to enable socio-economic processes involving transactions of values where community members take part actively and intentionally. In this field, mechanisms that regulate the functioning of blockchains need to be redirected towards collaborative and social purposes that often differ from the logics on which mainstream cryptocurrencies are based. In order to redesign these mechanisms, sound examination of their system of tokenization and of dynamics of their token economy is required. This paper provides an exploratory review of token economy elements found within cases of blockchain for local community economies, which is an under-explored domain in the relevant literature. The analysis considers 9 projects for systems that incentivize or reward participation, or implement community currency schemes. The dimensions analyzed encompass the type of goals and communities, the blockchains adopted, and token economy design aspects such as: token types, their distribution and incentive mechanisms, the associated platform/wallet functionalities, and the project governance models. We have observed a variety of combinations of these elements being used to facilitate new forms of value circulation. However, there is a tension between the aspiration to introduce transformative systems and the need to ensure the stability of the economic framework. The highly experimental nature of these initiatives requires continuous monitoring of their emergence and development.
In this era of rapid development of online transactions and platform economies, many companies operate as intermediaries between Party A and Party B in transactions and gain profits from every transaction. The "middleman", that is, the intermediary, mainly introduces Party A's resources in the form of a platform and allows more users to see and understand Party A's resource information. Platform users, that is, Party B, can save them from searching for the resources they want during the intermediary's promotion and introduction. time cost; however, some intermediaries take advantage of the process of transferring Party B's money to Party A as an intermediary and use some unfair means to obtain profits that exceed their original gains in the transaction as an intermediary, thus causing information between Party A and Party B. Asymmetry creates ambiguity, leading to serious problems in transactions. In this work, we will discuss the advantages of the decentralized sharing economy. Furthermore, this paper will focus on analyzing the shortcomings of intermediary operations in contemporary society from the perspective that intermediaries need to spend a lot of time and economic costs to establish credibility, the lack of intermediaries which are controlled artificially, and the friction of platform p2p transactions. Targeting the above three aspects, the paper will also explain and analyze the operating model of Ethereum to demonstrate that Ethereum is a better online transaction model that can replace the artificial intermediary model in contemporary times.
Robert Wayne Gregory, Roman Beck, Ola Henfridsson, Niam Yaraghi
Enhancing cooperation among strangers is challenging. Strangers, who lack previous interactions and trust, cannot rely on human reciprocity as they engage in social and economic exchange. They have a tendency to defect for maximizing individual interests rather than to cooperate for benefiting each party in the exchange. Blockchain-based smart contracts come with the promise of solving this dilemma of cooperation. In this paper, we trace this promise to a new mechanism of cooperation, programmed reciprocity, defined as coded instructions for automatically returning good for good (positive reciprocity) and ill for ill (negative reciprocity). Programmed reciprocity is rooted in the algorithmic enforcement capability of blockchain networks, defined as the ability to guarantee the execution of the rules of an exchange agreement without a central authority and the possibility of human interference by either of the involved parties. We propose that algorithmic enforcement capability positively affects the viability of cooperation among strangers on the blockchain through programmed reciprocity. This is contingent on the level of contract complexity and blockchain confidence. Our proposed framework extends the nascent literature on blockchain governance with a novel explanation of how programmed reciprocity can enhance cooperation among strangers. In doing this, it also addresses a significant yet unresolved problem in the literature on cooperation in social and economic exchanges.
D Uday Kumar, Gunda Sravya, Akula Leelavathi, K Rama Naga Sai Sri Swathi ¡ 5 authors
The concept of crowdfunding, a method for online fundraising, has evolved to enable public contributions in support of creative projects. Leveraging blockchain technology, cro wdfunding platforms now integrate smart contracts, ensuring secure, transparent, and reliable transactions. This study focuses on the development of interactive interfaces for campaign creation and financial contributions, facilitating engagement for both creators and donors. Campaign creators can propose initiatives and submit them for approval, while donors can browse and support projects through financial contributions. Transparency is ensured through blockchain recording of all transactions, offering immutable and transparent records. The incorporation of smart contracts is pivotal in removing the need for intermediary trust in blockchain-based agreements. This work emphasizes the importance of developing executable code for blockchain execution, ensuring transaction integrity and security. Initially associated with cryptocurrencies, blockchain technology has expanded its applications across industries, offering a sustainable solution for internet transactions. Crowdfunding platforms stand to benefit significantly from blockchain integration. Challenges in the current crowdfunding landscape include inadequate oversight and fraudulent investment schemes. By leveraging Ethereum smart contracts, this study seeks to address these challenges, enforcing time limits and automating contract execution to enhance trust and transparency in the crowdfunding process.
Jawaid Iqbal, Hasnain Raza, Reqad Ali, Muhammad Awais
The purpose of this research is to analyze whether Blockchain technology can affect the share-economy. Apart from that, blockchain technology has been innovating the whole of the industries and so the academics are discovering the possibilities and starting to incorporate them in order to provide additional tech possibilities. The sharing economic system is the system which enables to share asset among the one person to the other person. It has seen the remarkable growth in the last few years, Uber, Careem, Airbnb, Zostel, Hostel World are some companies to mention which have fueled this growth. Yet, the majority of the transactions through the sharing economy system are facilitated by a centralized infrastructure executing an intermediary role that might be vulnerable to issues of hacking and data breach and such operations come at a high cost and expending more effort in keeping the system active is also a factor worth mentioning. A different method which is free of control centers such as the peer-to-peer sharing and smart service model which is being implemented in the Hospitality industry can overcome those obstacles. Through the use of a blockchain-backed payment system based on an accommodation-sharing structure, the research will develop a prototype of the proposed system in the form of a DApp on the Ethereum blockchain. The aim of these studies and research is to inform the public about the revolution that is blockchain and its benefits for trade, technology, business, and daily life.
Aman Dwivedi, Divyansh Sharma, Sharad Gumber, Satyam Gupta
Abstract: Carpooling has seen a significant upsurge in popularity in recent years since it relieves commuters of the burden of driving a car and later spares them from the mad dash to locate a parking space. The industry now uses centralised database servers, which puts the system at risk of hacking, causes data leaks, and undermines security within the system. Additionally, there is a chance that the owner will misuse the data in a centralised system. Since the newly developed Blockchain technology provides complete anonymity and database transparency, data security and traceability may be guaranteed across the entire server. The goal of the suggested solution is to create and implement a blockchain-based, smart contract-based peer-to-peer vehicle sharing system. The Solidity programming language is utilised to carry out the smart contracts. Ethereum blockchain is used in the ecosystem's construction. Eliminating the middleman would result in a peer-to- peer (P2P) car-sharing programme, which would reflect decreased costs and exposure to data theft.
This paper explores the dynamics between value-added services, intermediary brands, and consumer privacy concerns in shaping attitudes toward blockchain-enabled consumer services. Grounded in the Antecedents-Privacy Concerns-Outcomes (APCO) framework, we develop a theoretical model that we test in three experimental studies with a total of 1613 participants, utilizing verbal scenarios featuring blockchain applications for international money transfer and hotel booking. Our research reveals that complete disintermediation via pure peer-to-peer blockchain transactions is unlikely. Consumers prefer blockchain applications offering supplementary services like call centers, password assistance, and cancellation options. As consumers become familiar with blockchain technology, privacy concerns intensify due to its distributed and immutable storage. The fears of data breaches are more pronounced when blockchain applications are offered by unknown startups as opposed to well-known Big Tech companies. However, privacy-conscious consumers also value the prospect of distancing themselves from big-data ecosystems by embracing blockchain solutions from startups. Our research extends the APCO framework by clarifying how privacy concerns, brand-based heuristics, and technological attributes interact. For managerial implications, blockchain applications necessitate re-intermediation to meet consumer preferences. Potential intermediaries, including Big Tech firms, startups, and industry incumbents, face unique challenges in developing and marketing blockchain-enabled consumer services.
Experiments in alternative forms of urban digitalisation include blockchain-based applications as enablers of civic action in local communities, inspired by different visions than blockchain-based speculative cryptocurrencies. This article investigates how blockchain technology can be oriented towards locally embedded applications. It explores the case of a blockchain-based wallet app that aims to support social collaborative economies and civic participation in urban communities by tokenising social and economic assets. Building on studies on the embeddedness of urban digital platforms with a local character, this article studies how the app under consideration is shaped by, and adapted to, the needs and resources of local socio-economic contexts. Two pilot experimentations on the app are considered, concerning systems for rewarding civic participation and urban sharing economies. The empirical analysis concerns the methodology for introducing the app into local socio-economic contexts, the way in which local actors interpret its properties, and the resulting iterative co-design of its functionalities. The article defines and discusses the extent to which the civic blockchain is rendered context-based by this methodology, and highlights similarities and differences with other urban digital platforms. The empirical evidence drawn from this research contributes to the debate on how community members, researchers and digital experts together can realise alternative forms of urban digitalization.
Blockchain technology is a revolutionary concept that has transformed various industries, offering decentralized and secure solutions for data management. At its core, a blockchain is a distributed and immutable ledger that records transactions across a network of computers. One of the key features of blockchain is its transparency, as each participant in the network has access to the same information. The application of blockchain technology extends across diverse sectors, with finance being the most promising and well-known application domain. Cryptocurrencies, like Bitcoin and Ethereum, rely on blockchain to facilitate secure and transparent transactions. The decentralized nature of blockchain eliminates the need for intermediaries, reducing transaction costs and increasing efficiency. Beyond finance, blockchain is making significant strides in supply chain management. The emergence of blockchain technology has paved the way for a transformative innovation in the realm of digital transactions: smart contracts. These self-executing contracts encoded in blockchain have garnered significant attention for their potential to revolutionize the way agreements are made, executed, and enforced. This paper explores the concept of smart contracts, delving into the underlying technology, finding applications across various industries, legal implications, and future prospects.
This study explores the transformative potential of Blockchain technology within the tourism sector, with a primary focus on its role in promoting sustainability and enhancing stakeholder engagement. Employing a qualitative methodology, this study incorporates interviews with ten industry experts and key stakeholders in tourism. The findings underscore Blockchainâs capacity to bolster sustainability efforts by fostering transparency, traceability, and accountability. This, in turn, enables effective monitoring of supply chains, validates eco-friendly certifications, and verifies adherence to sustainable practices. In addition, Blockchain empowers local communities by offering a decentralized platform for participation and decision-making. This study also identified critical challenges, including the necessity for scalable and energy-efficient Blockchain solutions, along with the imperative to address legal and regulatory impediments. The outcomes not only enrich our understanding of Blockchainâs potential in the tourism sector but also provide valuable recommendations for future research and implementation. Blockchain technology is poised to revolutionize tourism, champion sustainability, and cultivate collaborative stakeholder relationships.
Equity crowdfunding via the Internet is a new channel of raising fund for startups. It features low walls to entry, low cost, and high speed, and therefore encourages invention. In recent times, equity crowdfunding in India has endured some developments. still, some problems remain unsolved in practice. Blockchain is a decentralized and distributed tally technology to ensure data security, transparency, and integrity. Because it cannot be tampered, the technology is supposed to have great eventuality in the finance assiduity. This study examines current problems in the practice of equity crowdfunding in India. Grounded on the analysis of the characteristics of blockchain technology, this study further explores its practical operations in crowdfunding. Blockchain technology is a secure, effective, low- cost result for the enrolment of stocks and shares of a establishment financed by crowdfunding. First, a vendor initiates a request for ensuring a product, then the interested lenders participate in a project Key Words: Blockchain, crowdfunding, Fundraising, Project Registration and Transaction, Voting of Shareholders, Ethereum, Smart Contracts
Sampson Anomah, Boadu Ayeboafo, Maurice Aduamoah, Owusu Agyabeng
In an era marked by a profound digital transformation of economies worldwide, Ghana stands as a vivid example of a nation at the crossroads of taxation evolution. The country's tax policies are undergoing a significant shift to adapt to the burgeoning digital economy, with a keen focus on capturing and regulating the ever-expanding revenue streams generated through online enterprises. This research explored the potential of integrating blockchain technology with tax policy. Unstructured and semi-structured interview questions were designed to obtain insight into the problem. A survey was conducted to obtain views on the variables that explained the potential of integrating blockchain technology with tax policy to enhance the effectiveness of taxing online enterprises in Ghana. The study used correlation analysis to confirm propositions derived from preliminary interview and the review of literature. It was found that while blockchain offers significant advantages in bridging the gap for effective online taxation in Ghana, there are challenges which include institutional and regulatory conformity issues, technical integration and alignment incompatibility, and inadequate stakeholder engagement. This result may be useful in the design of tax online tax policy in Ghana and other jurisdictions with similar socio-economic environment.
The research paper examines how blockchain technology has profoundly changed a number of businesses, especially when it comes to the use of smart contracts.It explores the particular use of smart contracts in the context of crowdfunding with the goal of clarifying how they might improve and streamline the decisionmaking procedures that are a part of crowdfunding campaigns.The study illuminates how smart contracts might tackle typical problems encountered in traditional crowdfunding models, such as trust, transparency, and contract enforcement, by examining the core workings of these contracts.Based on a thorough literature review and empirical analysis, the study article highlights the significant influence that smart contracts have on crowdfunding decision-making processes.Smart contracts ensure increased transparency, security, and efficiency in the deployment of funds in addition to lowering transaction costs by doing away with the need for middlemen and creating a trustless environment.Additionally, the research explores the critical function of self-executing code in automating the distribution of cash according to predetermined criteria.This reduces the possibility of misallocation and makes it possible to evaluate project ideas in a more thorough, meritocratic manner.The application of smart contracts in crowdfunding scenarios may present certain obstacles, including scalability concerns, legal considerations, and the requirement for user-friendly interfaces.These challenges are also covered in the article.Through the integration of theoretical understanding with real-world case studies, the study offers a thorough framework that enables crowdfunding ecosystem participants to take full use of smart contract advantages while skillfully mitigating related dangers.
Amina Syarfina Abu Bakar, Mohamed Razeef Abd Razak, Rusmadiah Anwar
Evolution in digital platform for gig economy has transformed rapidly since the global pandemic. The evolution spikes, especially on digital platform jobs, are referred to as âfreelancersâ, âgiggersâ, or âwork on demandâ depending on their industry. Hence, this study examines the evolution of digital platform for gig economy, specifically for design industry from various field such as advertising, graphic design, brand design management, photography, fashion, architecture and the latest in the digital era Non- Fungible-Token (NFT). Systematic literature review was applied to identify the objective of evolution in digital platform for the business market in design industry which leads to digital business. Client relationships and management were also included as the impact factors of the evolution. The current research synthesis is obtained to develop a fundamental conceptual framework for the purpose of delivering the summary of the available primary resources. The current study produced preliminary results in reflection amongst the designers on the forced evolution on the new digital platform, challenges in transformation of business plan, marketing Metaverse, and artificial intelligence (AI), the gig economy attitude toward work as well as reduced professional efficacy if lack of management. This study hopes to support the business for gig economy practitioner performance to shed light on the new normal of work in design industry. Keywords: design industry, digital platform, design Management, GIG economy