This study examines the impact of smart contracts and decentralized finance (DeFi) platforms on transaction costs within Indonesia's traditional economy. Using a quantitative approach, the research involved 60 respondents engaged in traditional economic sectors, utilizing a Likert scale (1-5) to gather perceptions on the efficiency, transparency, and cost-reduction potential of these technologies. Data were analyzed using SPSS version 25, with results indicating that both smart contracts and DeFi platforms significantly reduce transaction costs. Smart contracts were found to automate agreements and enhance trust, while DeFi platforms increased accessibility and reduced financial barriers. Regression analysis revealed that these technologies collectively explain 62% of the variance in transaction costs. The findings underscore the transformative potential of blockchain technologies in Indonesia's traditional economy, offering practical implications for stakeholders and policymakers to address technological and regulatory challenges. This research provides valuable insights for the integration of blockchain solutions in fostering economic efficiency and sustainability.
Decentralized finance (DeFi) is a rapidly evolving blockchain technology that offers a new perspective on financial services through Web3 applications. DeFi offers developers the flexibility to create financial services using smart contracts, leading to a lack of standardized protocols and challenges in applying traditional finance models for risk assessment, especially in the early stages of adoption. The Maker protocol is a prominent DeFi platform known for its diverse functionalities, including loan services. This study focuses on analyzing the risk associated with Maker's loan portfolio by developing a risk model based on multiple Brownian motions and passage levels, with Brownian motions representing different collateral types and passage levels representing users' collateralization ratios. Through numerical experiments using artificial and real data, we evaluate the model's effectiveness in assessing risk within the loan portfolio. While our findings demonstrate the model's potential for assessing risk within a single DeFi project, it is important to acknowledge that the model's assumptions may not be fully applicable to real-world data. This research underscores the importance of developing project-specific risk assessment models for individual DeFi projects and encourages further exploration of other DeFi protocols.
Abstract: Decentralized Finance (DeFi) has emerged as a revolutionary paradigm, reshaping traditional financial systems by leveraging blockchain technology and cryptocurrencies. This paper delves into the core principles of DeFi, highlighting its decentralized, transparent, and accessible nature. It examines the foundational role of blockchain in enabling secure, immutable, and peer-to-peer transactions without intermediaries. Key innovations such as smart contracts, decentralized exchanges, and tokenized assets are explored, demonstrating their potential to democratize financial services. The paper also addresses the challenges facing DeFi, including scalability, regulatory concerns, and security vulnerabilities, while proposing solutions for a sustainable future. By analyzing real-world applications and case studies, this study emphasizes the transformative potential of DeFi to disrupt conventional finance, fostering financial inclusion and innovation in the blockchain and crypto era.
Olumide Kumuyi, Esther Uzoka, Bisola Akeju, David Excel Ozowara
The Framework for Privacy-Focused Digital Identity Verification Supporting Financial Inclusion in Africa proposes an integrated, secure, and ethically aligned model for digital identification systems that enhance access to financial services while safeguarding individual privacy. The framework addresses the dual challenge of expanding digital financial inclusion across Africa’s underserved populations and maintaining trust through data protection and regulatory compliance. It emphasizes privacy-preserving technologies such as federated identity management, zero-knowledge proofs, and biometric encryption to authenticate users without disclosing sensitive personal information. By enabling decentralized and consent-based data sharing, the model ensures individuals retain ownership of their digital identities while allowing financial institutions to verify eligibility and compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. The framework also integrates blockchain-based audit trails for transparent verification processes and tamper-proof recordkeeping, enhancing institutional accountability. It adopts interoperable standards to link national ID systems, mobile network operators, and fintech platforms, enabling seamless cross-border transactions and inclusive participation in the digital economy. A multilayer governance structure encompassing regulators, financial service providers, and civil society stakeholders promotes ethical oversight and equitable access. Furthermore, the framework supports context-sensitive deployment, accommodating infrastructural disparities and socio-cultural factors unique to African regions. It aligns with global data protection norms such as the General Data Protection Regulation (GDPR) and the African Union Convention on Cyber Security and Personal Data Protection (Malabo Convention), while encouraging local innovation in identity ecosystems. Ultimately, this privacy-centered digital identity verification framework establishes a resilient foundation for secure inclusion, reducing barriers for the unbanked, mitigating identity fraud, and fostering digital trust. By combining privacy engineering, inclusive design, and interoperable governance, it contributes to the broader agenda of sustainable digital transformation and equitable financial empowerment across Africa.
Mihai Andronie, Roman Blažek, Mariana Iatagan, Renata Skýpalová · 16 authors
Research background: Big data-driven artificial Internet of Things (IoT) fintech algorithms can provide real-time personalized financial service access, strengthen risk management, and manage, monitor, and mitigate transaction operational risks by operational credit risk management, suspicious financial transaction abnormal pattern detection, and synthetic financial data-based fraud simulation. Blockchain technologies, automated financial planning and investment advice services, and risk scoring and fraud detection tools can be leveraged in financial trading forecasting and planning, cryptocurrency transactions, and financial workflow automation and fraud detection. Algorithmic trading and fraud detection tools, distributed ledger and cryptocurrency technologies, and ensemble learning and support vector machine algorithms are pivotal in predictive analytics-based risk mitigation, customer behavior and preference-based financial product and service personalization, and financial transaction and fraud detection automation. Credit scoring and risk management tools can offer financial personalized recommendations based on customer data, behavior, and preferences, in addition to transaction history, by generative adversarial and deep learning recurrent neural networks. Purpose of the article: We show that blockchain and edge computing technologies, generative artificial IoT-based fintech algorithms, and transaction monitoring and credit scoring tools can be harnessed in financial decision-making processes and loan default rate mitigation for transaction, payment, and credit process efficiency. Generative and predictive artificial intelligence (AI) algorithmic trading systems can drive coherent customer service operations, provide tailored financial and investment advice, and influence financial decision processing, while performing real-time risk assessment and financial and trading risk scenario simulation across fluctuating market conditions. Fraud and money laundering prevention tools, blockchain and financial transaction technologies, and federated and decentralized machine learning algorithms can articulate algorithmic profiling-based transaction data patterns and structures, credit assessment, loan repaying likelihood prediction, and interest rate and credit lending risk management by real-time financial pattern and economic forecast-based credit analysis across investment payment and transaction record infrastructures. Methods: Research published between 2023 and 2024 was identified and analyzed across ProQuest, Scopus, and the Web of Science databases by use of screening and quality assessment software systems such as Abstrackr, AMSTAR, AXIS, CADIMA, CASP, Catchii, DistillerSR, Eppi-Reviewer, MMAT, Nested Knowledge, PICO Portal, Rayyan, ROBIS, and SRDR+. Findings & value added: The main value added derived from the systematic literature review is that generative AI-based operational risk management, fraud detection, and transaction monitoring tools can provide personalized financial support and services and clarify financial and credit decisions and operations by financial decision-making process automation in dynamic business environments based on fraud detection capabilities and transaction data analysis and assessment. The benefits for theory and current state of the art are that credit risk and financial forecasting tools, artificial IoT-based fintech and generative AI algorithms, and algorithmic trading and distributed ledger technologies can be deployed in financial decision-making and customer behavior pattern optimization, credit score assessment, and money laundering and fraudulent payment detection. Policy implications reveal that investment management and algorithmic credit scoring tools can streamline financial activity operational efficiency, design financial planning analysis and forecasting, and carry out financial service and transaction data analysis for informed transaction decision-making and fraudulent behavior pattern and incident detection, taking into account credit history and risk evaluation and improving personalized experiences.
Contemporary financial systems operate in complex environments marked by volatility, uncertainty, complexity, and ambiguity, which elevates the cost of trial and error and exposes the limits of siloed data and centralized control. Considering the complexity challenges for the legacy financial system, we propose the parallel financial systems, which are grounded in the theory of parallel intelligence and utilizes the ACP (Artificial systems, Computational experiments, and Parallel execution) methodology to conduct financial execution and resource coordination through the interaction and co-evolution of real-world and artificial systems. Based on this paradigm, we construct a corresponding technical architecture that integrates cutting-edge intelligent technologies represented by AI agents with decentralized technologies provided by blockchain, smart contracts and decentralized autonomous organizations (DAOs). To further demonstrate the applicability for the legacy enterprise, we detail the system workflow, from individual operation to group coordination, with an illustrative example of how the parallel financial systems are utilized along a project lifecycle. This work serves as a theoretical basis and design roadmap for verifiable, privacy-preserving, and interoperable financial intelligence.
Decentralized finance (DeFi) technologies, when integrated with enterprise systems, create an opportunity to fully automate payment processes within ERP systems. This research develops and tests a smart contract-based cryptocurrency payment gateway framework with SAP ERP systems focusing on the FI, MM, and SD modules. Incorporating blockchain wallets, programmable transaction logic, and modular APIs enables SAP systems to independently manage multi-chain and multi-currency crypto payment initiation, confirmation, and reconciliation across multiple chains and currencies. The payment gateway minimizes payment delay, manual processing, and expenses in comparison to traditional fiat gateways utilizing smart contracts for payment validation, tokenization, and invoice reconciliation. Testing under real SAP transactional simulations on Quorum-based testnets showed an about 62% increase in reconciliation speed, 48% decrease in average cost per transaction, and 92% accuracy in volatile token conflict detection—during token volatility periods—resulting in errors. This study contributes to the development of frameworks for decentralized payment systems within ERP infrastructures, advancing the design and ERP enterprises aimed at achieving seamless interoperability, auditability, and comprehensive control over digital assets with SAP ecosystems.
The integration of blockchain-enabled smart contracts into marketing workflows offers a transformative pathway toward achieving transparency, accountability, and verifiable performance across digital advertising ecosystems. Traditional marketing operations are often plagued by data asymmetry, opaque intermediaries, and unverifiable metrics that undermine trust between stakeholders. Blockchain technology—through its decentralized, immutable ledger—provides a secure infrastructure for recording and validating every transaction and engagement metric, from ad impressions to affiliate payouts. Smart contracts automate contractual obligations, such as real-time budget allocation, campaign execution, and influencer compensation, based on predefined criteria embedded within the blockchain network. This automation minimizes fraud, reduces administrative costs, and enforces compliance without relying on third-party verification. Furthermore, integrating blockchain with advanced analytics and IoT devices enables end-to-end visibility of consumer interactions and supply chain provenance in omnichannel marketing. This review critically examines the architectural frameworks, interoperability protocols, and governance mechanisms underpinning blockchain-driven marketing systems. It also explores emerging trends in decentralized advertising networks, tokenized engagement incentives, and regulatory considerations shaping adoption. By evaluating existing research and case studies, the paper highlights the potential and challenges of deploying blockchain-enabled smart contracts to achieve verifiable, trust-based, and performance-optimized marketing ecosystems.
The study examines the influence of public announcements, regulatory actions, and significant events on the price movements of Bitcoin, Ethereum, Ripple, and Dogecoin, focusing on market volatility and stability. Historical exchange rate data, covering the period from 03 June 2017 to 27 October 2024, with over 2700 daily price observations, were analyzed. The primary aim was to explore how these events shape cryptocurrency price reactions, uncover patterns in market behavior, and assess market sentiment. The findings reveal that volatile assets like Dogecoin experience more pronounced and longer-lasting price changes in response to positive announcements, while more stable cryptocurrencies such as Bitcoin and Ethereum show relatively brief price shifts. Negative events, especially those involving regulatory actions or market disruptions, tend to have a prolonged and detrimental effect on cryptocurrency prices. Additionally, the study highlights the growing stability of the cryptocurrency market, driven by an expanding user base. Bitcoin and Ethereum exhibit moderate volatility, while Dogecoin and Ripple show higher volatility. The research also identifies correlations between cryptocurrencies, such as the strong relationship between Bitcoin and Ethereum, suggesting potential for price manipulation between correlated assets. Investor sentiment plays a crucial role in amplifying the effects of both positive and negative events, with favorable sentiment driving price increases and negative sentiment contributing to market declines. The research provides valuable insights for investors, enabling them to navigate cryptocurrency market volatility and make more informed investment decisions.
The rapid development of blockchain technologies creates a new paradigm of economic relations, requiring a rethinking of traditional approaches to management and business organization. The relevance of Ethereum research is due to its significant potential for creating new forms of economic coordination that go beyond existing institutional structures. With the growing complexity of global economic systems, Ethereum offers a unique approach to solving trust, transparency, and transaction efficiency problems. The purpose of the work is to substantiate the role of blockchain as a new management technology using the example of the Ethereum platform, as well as to reveal the mechanisms for projecting imaginary autonomy in the process of its design and institutionalization through the activities of various actors. The study focuses on the formation of alternative modes of economic coordination of entrepreneurial structures and social organization.Key characteristics of the “governance through transactions” implemented in Ethereum are identified, including the focus on exchange and association relationships, the epistemological gap between the calculation and meaning of transactions, and the specific processes of forming and articulating these transactions. The process of institutionalization of the autonomy of cryptoassets is analyzed, demonstrating the complex interaction of various actors, technologies and social practices. A conceptual model of the evolution of digital economy management has been developed, reflecting the development trajectory from fragility to antifragility using the example of Ethereum. The transformational potential of Ethereum for existing economic and social structures is substantiated. This platform is considered an alternative proposal for managing the digital economy, capable of changing the fundamental principles of organizing economic activity. Problems and limitations associated with the implementation of decentralized systems are also identified, including technical challenges of scalability, difficulties of coordination, and risks of excessive algorithmization of social relations.
Abstract The emergence of digital assets such as cryptocurrencies, e-wallets, and non-fungible tokens (NFTs) has significantly impacted societal transactions and interactions. However, the inheritance of these digital assets poses challenges due to the lack of clear regulations in both positive and Islamic law. This study employs a normative juridical approach with a comparative law method to analyze the provisions of positive law in Indonesia and the principles of Islamic law related to the inheritance of digital assets. The study aims to identify gaps between the two legal systems and provide recommendations for regulatory harmonization. The findings reveal that positive law in Indonesia does not explicitly regulate digital assets in the context of inheritance, leading to uncertainty and potential disputes among heirs. Islamic law also lacks clear provisions regarding digital assets, making it difficult to apply inheritance principles based on sharia. The study highlights the urgent need to harmonize positive and Islamic law to accommodate the unique characteristics of digital assets and ensure fair and transparent distribution among heirs. Collaboration between policymakers, academics, and the public is essential to develop regulations that address the needs and characteristics of digital assets in the context of inheritance law. The study concludes by emphasizing the importance of understanding both legal systems to overcome challenges in digital asset inheritance and create a more just and effective legal framework for all parties involved. Keywords: Digital assets, Legacy, Regulation, E-wallet, Non-Fungible Token (NFT) Abstrak Kemunculan aset digital seperti mata uang kripto, dompet elektronik, dan token yang tidak dapat dipertukarkan (NFT) telah memberikan dampak yang signifikan terhadap transaksi dan interaksi masyarakat. Namun, pewarisan aset digital ini menimbulkan tantangan karena kurangnya peraturan yang jelas baik dalam hukum positif maupun hukum Islam. Penelitian ini menggunakan pendekatan yuridis normatif dengan metode perbandingan hukum untuk menganalisis ketentuan hukum positif di Indonesia dan prinsip-prinsip hukum Islam terkait pewarisan aset digital. Penelitian ini bertujuan untuk mengidentifikasi kesenjangan antara kedua sistem hukum tersebut dan memberikan rekomendasi untuk harmonisasi peraturan. Temuan menunjukkan bahwa hukum positif di Indonesia tidak secara eksplisit mengatur aset digital dalam konteks pewarisan, sehingga menimbulkan ketidakpastian dan potensi perselisihan di antara para ahli waris. Hukum Islam juga tidak memiliki ketentuan yang jelas mengenai aset digital, sehingga menyulitkan penerapan prinsip-prinsip waris berdasarkan syariah. Studi ini menyoroti kebutuhan mendesak untuk menyelaraskan hukum positif dan hukum Islam untuk mengakomodasi karakteristik unik aset digital dan memastikan distribusi yang adil dan transparan di antara para ahli waris. Kolaborasi antara pembuat kebijakan, akademisi, dan masyarakat sangat penting untuk mengembangkan peraturan yang sesuai dengan kebutuhan dan karakteristik aset digital dalam konteks hukum waris. Studi ini diakhiri dengan menekankan pentingnya memahami kedua sistem hukum untuk mengatasi tantangan dalam pewarisan aset digital dan menciptakan kerangka hukum yang lebih adil dan efektif bagi semua pihak yang terlibat. Kata kunci: Aset digital, Warisan, Regulasi, E-wallet, Non-Fungible Token (NFT)
This book chapter explores the transformative role of smart contracts in automating Internet of Things (IoT) systems, focusing on their integration with blockchain technology to enhance operational efficiency, security, and compliance across diverse industries. As industries increasingly adopt IoT, the need for secure, transparent, and efficient processes becomes paramount. Smart contracts provide a solution by automating contract execution and ensuring realtime verification of transactions based on predefined conditions. This chapter highlights key applications in sectors such as supply chain management, energy, healthcare, and smart cities, emphasizing the potential of blockchain and IoT synergy. Through detailed case studies, the chapter demonstrates how smart contracts optimize automation, reduce operational costs, and foster trust within interconnected ecosystems. This work offers valuable insights into current challenges, benefits, and future directions for the integration of smart contracts in IoT, advancing automation and compliance in the digital age.
Timileyin P. Abiodun, Nnamdi Nwulu, Peter Olukanmi
The carbon trading system is a mechanism that employs carbon caps (limits) and taxation to regulate the rate of carbon dioxide emissions produced by human activities. To further strengthen the effectiveness of this mechanism, the United Nations (UN) initiated the Kyoto Protocol in 1997, enabling the trading of carbon emission rights in exchange for financial compensation. As a result, the market value rose to 10.9 billion in 2005, with an annual growth rate of approximately 8%, reaching 95 billion in 2023. Despite this expansion, the system’s management has remained centralised since its inception, leading to issues such as a lack of transparency and openness in the trading process, inefficiencies in the trading mechanisms, and inaccurate or dishonest centralised data recording. The rapid expansion of the market and the accompanying challenges underscore the need for blockchain technology (BCT), which offers a decentralised, secure, and tamper-proof system. Although several research publications have demonstrated the potential enhancements that BCT could contribute to the carbon market, no systematic review has yet examined the optimal implementation of BCT within the context of carbon trading and taxation. This study, therefore, undertakes a systematic review of peer-reviewed research articles published between 2015 and 2023 using the PRISMA methodological framework. Our analysis establishes the feasibility and viability of a blockchain-powered solution for carbon trading, alongside the development of a comprehensive framework for its effective implementation, designed to stand the test of time in the fast-evolving technological landscape. Furthermore, this comprehensive review identifies research gaps, offering future researchers direction in exploring blockchain applications within the Emissions Trading System (ETS) domain. Overall, this review fosters a digitalised and incentivised shift towards renewable energy sources.
The assessment and promotion of responsible and ethical practices within the dynamic fintech banking sector are crucial, and sustainable ratings play a pivotal role in achieving these objectives. As the fintech industry disrupts traditional banking, it becomes imperative to evaluate its environmental, social, and governance (ESG) performance to effectively manage risks and maximize positive impacts. This abstract delves into the significance, challenges, and recommendations surrounding sustainable ratings in fintech banking. Although fintech and digital banking offer great potential, they also pose ESG risks. Innovations in areas like digital payments, decentralized finance, big data analytics, robo-advisory, and lending platforms reshape the financial landscape and contribute to financial inclusion, consumer empowerment, and efficiency. However, the long-term sustainability implications of these advancements remain uncertain. To address this, tailored ESG rating mechanisms are needed to assess fintech banking based on material sustainability issues. These ratings evaluate performance across key metrics such as climate action, ethical AI, data stewardship, financial inclusion, and governance. Stakeholders can leverage these ratings to identify sustainability leaders and align investments with the United Nations Sustainable Development Goals. Mainstreaming fintech sustainability ratings requires collaboration among multiple stakeholders, encompassing the establishment of reporting standards, disclosure frameworks, assurance mechanisms, and capacity-building initiatives. Challenges in this pursuit include the absence of sector-specific measurement standards, the reluctance of fintech firms to allocate resources to sustainability efforts, limited internal expertise, and concerns surrounding confidentiality and security. Overcoming these challenges necessitates the introduction of mandatory sustainability disclosure policies by regulators, the development of industry-specific reporting standards by industry associations and standard setters, and the integration of sustainability due diligence into the decision-making processes of investors. Furthermore, capacity-building programs are essential to educate fintech leaders on material ESG risks and integrate sustainability considerations into their strategic planning. Ultimately, sustainable ratings in fintech banking serve as a framework for evaluating and incentivizing responsible practices, empowering stakeholders to direct investments towards sustainable fintech innovation and fostering an inclusive and sustainable financial ecosystem.
Sepideh HajiHosseinKhani, Arash Habibi Lashkari, Ali Mizani Oskui
With the advent of blockchain networks, there has been a transition from traditional contracts to Smart Contracts (SCs), which are crucial for maintaining trust within these networks. Previous methods for analyzing SCs vulnerabilities typically suffer from a lack of accuracy and effectiveness. Many of them, such as rule-based methods, machine learning techniques , and neural networks , also struggle to detect complex vulnerabilities due to limited data availability. This study introduces a novel approach to detecting, identifying, and profiling SC vulnerabilities, comprising two key components: an updated analyzer named SCsVulLyzer (V2.0) and an advanced Genetic Algorithm (GA) profiling method. The analyzer extracts 240 features across different categories, while the enhanced GA, explicitly designed for profiling SC vulnerabilities, employs techniques such as penalty fitness function, retention of elites, and adaptive mutation rate to create a detailed profile for each vulnerability. Furthermore, due to the lack of comprehensive validation and evaluation datasets with sufficient samples and diverse vulnerabilities, this work introduces a new dataset named BCCC-SCsVul-2024. This dataset consists of 111,897 Solidity source code samples, ensuring the practical validation of the proposed approach. Additionally, three types of taxonomies are established, covering SC literature review, profiling techniques, and feature extraction. These taxonomies offer a systematic classification and analysis of information, enhancing the efficiency of the proposed profiling technique. Our proposed approach demonstrated superior capabilities with higher precision and accuracy through rigorous testing and experimentation. It not only showed excellent results for evaluation parameters but also proved highly efficient in terms of time and space complexity. Moreover, the concept of the profiling technique makes our model highly transparent and explainable. These promising results highlight the potential of GA-based profiling to improve the detection and identification of SC vulnerabilities, contributing to enhanced security in blockchain networks.
This study explores the potential of blockchain technology to optimize trade finance processes and to address inefficiencies and fraud risks in centralized systems that contribute to a growing global trade finance gap, particularly affecting SMEs. Through documentary analysis and the case of Morocco's OCP Group, with insights for practitioners, we explore the benefits and challenges of integrating blockchain into trade finance. Our findings suggest a hybrid solution integrating blockchain into existing infrastructure, relying on both off-chain and on-chain governance mechanisms in smart contracts. This approach aims to bridge the gap between traditional and blockchain solutions in trade finance and discusses the potential for a more pragmatic way forward for the industry.
Cryptocurrencies, powered by blockchain technology, have revolutionized the financial landscape by offering decentralized, secure, and transparent alternatives to traditional currencies since it was very first proposed. This study explores the key principles of cryptocurrency, including its underlying cryptographic mechanisms, and evaluates its current market status, applications, and the challenges it faces, e.g., volatility, regulatory uncertainty, and scalability issues. According to the analysis, while cryptocurrencies have made significant strides in adoption and innovation, they still face substantial barriers to widespread use, particularly in comparison to traditional digital payment systems like Alipay. Addressing these limitations through technological advancements and regulatory clarity will be crucial for cryptocurrencies to achieve broader mainstream integration. This research highlights the transformative potential of cryptocurrencies while identifying the areas that require development for them to realize their full promise in the global financial system and how to make cryptocurrencies market popularize while maintaining its unique features and advantages.
This paper investigates the role of blockchain technology in revolutionizing start-up financing, focusing on the integration of cryptocurrencies through Initial Coin Offerings (ICOs) and Security Token Offerings (STOs). The research aims to explore how decentralized financial systems provide innovative alternatives to traditional funding methods like venture capital. Key topics of analysis include the advantages of blockchain technology, such as enhanced transparency, security, and global accessibility for start-ups. At the same time, the paper addresses significant challenges, including legal uncertainties and operational risks. Case studies of companies like Blockstack and Telegram illustrate the practical applications of ICOs and STOs, shedding light on both their potential and associated risks. The findings suggest that while blockchain can democratize access to capital, its long-term viability will largely depend on the development of comprehensive regulatory frameworks and greater investor protections. Overall, the study provides valuable insights into how blockchain technology could transform the future of start-up financing, fostering a more efficient, secure, and inclusive financial ecosystem.
The current economic organizational forms are increasingly inadequate for humanity's long-term development. Blockchain technology, much like the advent of steam engines and power systems, is transforming national governance and market operations. A substantial body of literature has explored Decentralized Autonomous Organizations (DAOs) built on blockchain technology. This paper builds upon existing literature to introduce the concept of a Decentralized Autonomous Community (DAC), delineate its legal framework, and propose a technical model based on the Consortium Blockchain. DACs not only address internal and external decision-making and governance within community systems but also ensure appropriate national supervision. By leveraging the innovative potential of blockchain, DACs promise a more efficient and equitable economic structure that aligns with contemporary societal needs.
Digital financial assets are an innovative financial market tool that provides a wide range of opportunities for financial market participants to attract financing and invest on an alternative basis using a fintech platform in the absence of traditional financial intermediaries. In conditions of sanctions and external restrictions, when classical financial instruments cannot solve a number of tasks, digital financial assets with the properties of simplified document collection, low time and transaction costs become a new funding tool. The presented research is aimed at identifying the relationship between the use of distributed ledger technology and the emergence of tools that can become the basis for developing innovative solutions to pressing problems of the national economy that have emerged as a result of sanctions and restrictions. To this end, an analysis of the results of a survey of market experts on topical issues of distributed ledger technology during its implementation in the financial market and on the development of the digital financial assets market was carried out. The research uses methods of systematization, logical analysis, comparative analysis, synthesis, and survey. The result of the study was the identification of the positive effects of the use of distributed ledger technology and the potential of digital financial assets in solving the problems of cross-border settlements in the B2B format.
With the development of the global economy and the progress of science and technology, the importance of supply chain management in modern economic activities has become increasingly prominent. However, traditional supply chain management is characterized by problems such as information silos, low transparency, and difficulties in traceability, which seriously affect the efficiency and security of the supply chain. The introduction of blockchain technology provides a new technical path and solution to solve these problems. This paper explores the application of blockchain technology, especially smart contracts, in supply chain management. By developing Python-based smart contracts, this paper verifies the effectiveness of blockchain technology in enhancing supply chain transparency, efficiency, security, and trust. In addition, this paper demonstrates the current status and challenges of the application of blockchain technology in supply chain management through literature review and case study analysis, and points out the direction of future research. The findings of this paper show that the application of blockchain technology in supply chain management has significant advantages, but it is still necessary to further optimize the performance and security of smart contracts and explore more application scenarios.
2008 yılında Bitcoin’in ortaya çıkmasından sonra kripto paralar kısa zamanda önemli bir varlık sınıfı haline gelmiştir. Kripto paralar; uzlaşma prensibine dayalı, birimler arası doğrudan işlem yapma imkânı sunan, işlemlere ait kayıtlara tüm birimlerin erişebildiği, merkeziyetsiz bir yapı olan blockchain teknolojisi ile işletilirler. Bu çalışmanın amacı, Forbes tarafından 2024 yılı için, blockchain endüstrisinde faaliyet gösteren firmalara ait sermaye varlıkları yatırımlarında uzmanlaşan en iyi borsa yatırım fonlarının 2021 Ekim ile 2024 Haziran dönemindeki haftalık getirileri ile aynı dönemdeki Bitcoin ve Ethereum haftalık getirilerinin zaman serileri Vektör Oto Regresyon Analizi ile incelenmesidir. Çalışmada Varyans Ayrıştırması ve Etki-Tepki Testleri yapılarak serilerin birbirlerine karşı etki düzeyleri incelenmiştir. Ayrıca seriler arasındaki nedensellik ilişkileri Granger Nedensellik Testi yöntemiyle araştırılmıştır. Çalışmanın sonucunda; seçili blockchain yatırım fonlarından First Trust SkyBridge Crypto Industry and Digital Economy (CRPT) haftalık getirilerinin, Bitcoin ve Ethereum haftalık getirileri ile %5 anlamlılık seviyesinde tek yönlü, sadece Bitcoin haftalık getirileri ile %10 anlamlılık düzeyinde çift yönlü Granger Nedensellik ilişkisine sahip olduğu belirlenmiştir.
Xiaolin Wen, Tai D. Nguyen, Lun Zhang, Jun Sun · 5 authors
Smart contracts are the fundamental components of blockchain technology. They are programs to determine cryptocurrency transactions, and are irreversible once deployed, making it crucial for cryptocurrency investors to understand the cryptocurrency transaction behaviors of smart contracts comprehensively. However, it is a challenging (if not impossible) task for investors, as they do not necessarily have a programming background to check the complex source code. Even for investors with certain programming skills, inferring all the potential behaviors from the code alone is still difficult, since the actual behaviors can be different when different investors are involved. To address this challenge, we propose PrettiSmart, a novel visualization approach via execution simulation to achieve intuitive and reliable visual interpretation of smart contracts. Specifically, we develop a simulator to comprehensively capture most of the possible real-world smart contract behaviors, involving multiple investors and various smart contract functions. Then, we present PrettiSmart to intuitively visualize the simulation results of a smart contract, which consists of two modules: The Simulation Overview Module is a barcode-based design, providing a visual summary for each simulation, and the Simulation Detail Module is an augmented sequential design to display the cryptocurrency transaction details in each simulation, such as function call sequences, cryptocurrency flows, and state variable changes. It can allow investors to intuitively inspect and understand how a smart contract will work. We evaluate PrettiSmart through two case studies and in-depth user interviews with 12 investors. The results demonstrate the effectiveness and usability of PrettiSmart in facilitating an easy interpretation of smart contracts.
In the rapidly evolving landscape of GameFi, a fusion of gaming and decentralized finance (DeFi), there exists a critical need to enhance player engagement and economic interaction within gaming ecosystems. Our GameFi ecosystem aims to fundamentally transform this landscape by integrating advanced embodied AI agents into GameFi platforms. These AI agents, developed using cutting-edge large language models (LLMs), such as GPT-4 and Claude AI, are capable of proactive, adaptive, and contextually rich interactions with players. By going beyond traditional scripted responses, these agents become integral participants in the game's narrative and economic systems, directly influencing player strategies and in-game economies. We address the limitations of current GameFi platforms, which often lack immersive AI interactions and mechanisms for community engagement or creator monetization. Through the deep integration of AI agents with blockchain technology, we establish a consensus-driven, decentralized GameFi ecosystem. This ecosystem empowers creators to monetize their contributions and fosters democratic collaboration among players and creators. Furthermore, by embedding DeFi mechanisms into the gaming experience, we enhance economic participation and provide new opportunities for financial interactions within the game. Our approach enhances player immersion and retention and advances the GameFi ecosystem by bridging traditional gaming with Web3 technologies. By integrating sophisticated AI and DeFi elements, we contribute to the development of more engaging, economically robust, and community-centric gaming environments. This project represents a significant advancement in the state-of-the-art in GameFi, offering insights and methodologies that can be applied throughout the gaming industry.