Blockchain technology has revolutionized numerous industries, including that of financial accounting. However, its potential to support environmental, social, and corporate governance (ESG) objectives remains underexplored. This paper addresses this gap by investigating how blockchain’s decentralized and tamper-resistant characteristics can enhance green financial instruments, investment strategies, and climate-related financial disclosures. By leveraging these unique features of blockchain and applying knowledge discovery from data (KDD) methods, we uncover patterns and establish rules that highlight blockchain’s role in promoting transparency, accountability, and sustainability within the financial sector. Through a comprehensive analysis of literature, case studies, and real-world examples, this paper not only presents a balanced perspective on the integration of blockchain into financial accounting but also underscores its transformative potential in advancing ESG initiatives. The use of KDD provides novel insights into the effectiveness and implementation strategies of blockchain for ESG, making this study a pioneering resource for academics, professionals, and policymakers seeking to understand and harness blockchain’s impact on ESG in financial accounting.
A gestão esportiva está se tornando mais desafiadora com os avanços tecnológicos a partir das transformações significativas nos modelos de negócios e na interação entre fãs e clubes. A Web3 oferece uma oportunidade para melhorar essa gestão, trazendo maior eficiência, transparência e envolvimento das partes interessadas, podendo revolucionar a interação dos fãs e a monetização de equipes, permitindo uma participação mais ativa de seus torcedores. As Organizações Autônomas Descentralizadas (DAOs) representam uma inovação que pode promover maior transparência, engajamento dos fãs e eficiência na gestão esportiva, introduzindo um novo modelo de governança, possibilitando decisões mais democráticas e colaborativas. No entanto, a adoção dessas tecnologias ainda enfrenta desafios e requer uma mudança cultural no setor esportivo. Objetivo: Verificar, compreender e analisar como a aplicação da Web3 pode auxiliar no potencial dos negócios no setor esportivo com a adoção das tecnologias emergentes. Materiais e métodos: O primeiro estudo consistiu em uma revisão sistemática da literatura utilizando a metodologia PRISMA e EBSE, onde foram analisados 37 estudos primários sobre a aplicação da tecnologia blockchain no esporte. Esse levantamento permitiu um entendimento abrangente das aplicações atuais e do potencial futuro dessa tecnologia no setor esportivo. O segundo estudo, também baseado em uma revisão sistemática, analisou 25 artigos específicos sobre fan tokens, abordando suas características técnicas e seu papel na melhoria da participação dos fãs em decisões menores dos clubes esportivos. No terceiro estudo, foi realizada uma análise correlacional de 20 fan tokens, utilizando dados financeiros e de mercado coletados do site CoinGecko. A análise revelou que a avaliação totalmente diluída (FDV) dos tokens correlaciona-se significativamente com o preço e a capitalização de mercado, indicando que as expectativas futuras estão alinhadas com as avaliações de mercado. Entretanto, a proporção de capitalização do mercado (M/FDV) apresentou correlação negativa, sugerindo que uma menor M/FDV pode indicar uma tendência de aumento nos preços futuros devido à percepção de subvalorização. No quarto estudo, foi proposto um modelo conceitual para a criação e utilização de uma DAO para a gestão de uma entidade esportiva, baseado em princípios de governança e empoderamento da comunidade. Esse modelo destaca a importância de uma abordagem colaborativa entre clubes, fãs, desenvolvedores de tecnologia e reguladores para a concretização do potencial dessas inovações. Conclusão: A partir dos resultados encontrados nos artigos, observou-se que a tecnologia blockchain tem potencial para revolucionar a gestão esportiva, tornando-a mais inclusiva, transparente e eficiente. Os fan tokens destacam-se como uma ferramenta significativa para aumentar o engajamento dos fãs e gerar novas fontes de receita. No entanto, a concretização desse potencial depende de uma abordagem colaborativa entre clubes, fãs, desenvolvedores de tecnologia e reguladores. A dualidade desses ativos, enquanto promovem uma conexão entre os fãs, introduz complexidades técnicas, financeiras e regulatórias que requerem atenção. Pesquisas futuras devem focar na criação de diretrizes regulatórias específicas e na análise do impacto econômico e social dessas inovações para maximizar os benefícios e superar os desafios associados à sua adoção no setor esportivo
This research examines the impact of blockchain intelligent contracts on the arbitration rate and the mediator's function of settling disputes in supply and logistics contracts. The quantitative approach for the study and the involvement of 202 legal professionals acquainted with blockchain, the investigation explores the relationships of using smart contracts, trust, and speed of the arbitration process. The research results show that using smart contracts based on blockchain technology significantly improves the arbitration process's speed, efficiency, and transparency and strengthens the parties' trust. They can benefit policy-makers, lawyers, arbitration players, and enthusiasts by helping them grasp the potential of smart contracts in the arbitration system.
One of the most widely used technologies for peer-to-peer real-time data transmission is WebRTC (Web Real-Time Communication).Both in the military and in civilian life, WebRTC technology is employed in many background applications, either directly or indirectly.For this reason, WebRTC communication security is crucial.The main goal of this research is to enhance WebRTC's current security framework by utilizing relatively new and smart contract technologies, the suggested solution offers a real-time system for communication amongst peers on the network.Additionally, a web application featuring a video calling function that illustrates blockchain interactions as well as recommended security improvements has been built.Furthermore, the application may be used on the smart contract that is active on the Ethereum network to carry out tasks like declaring, modifying, and authorizing users.As a result, this article suggests a safe identity verification technique that peers for real-time WebRTC communication could utilize to validate one another on the blockchain.
Today, we are witnessing the increasing growth of financial technologies in the insurance industry.Undoubtedly, smart contracts can be considered one of the most important financial technologies.A limited number of researchers in the insurance industry have investigated the effect of the introduction of smart contracts on the performance of this industry; But what should be emphasized in the meantime is that when faced with any new and unknown phenomenon such as the Internet in previous years, the necessities, requirements and effects of using that technology should be fully investigated.The present study tries to evaluate the various aspects of the implementation of smart contracts in the insurance industry, to calculate its effects on the insurance processes in the insurance industry, and to determine the best type of design and use of this contract in the insurance industry, in order to accelerate and facilitate the insurance processes.introduce the benefit of the insurer and the insured; In the present research, firstly, with a descriptive-analytical approach based on theoretical and library studies, through theoretical study and referring to specialized reports in this field, various aspects of the implementation of smart contracts in the insurance industry have been analyzed.In the continuation of the research, using the SWOT matrix, the strengths, weaknesses, opportunities and threats of the impact of smart contracts on the insurance industry have been evaluated by 30 experts and managers in the insurance field, and the main strategy has been determined.After classifying the existing sub-strategies, the QSPM matrix was used to assign an attractiveness score to each strategy and prioritize them.The results of the SWOT matrix indicate that the best main strategy will be an offensive strategy.Also, the QSPM matrix introduces the hard smart contract design strategy as the best sub-strategy in the design and use of smart contract basic technologies in the insurance industry; The purpose of implementing smart contracts in the insurance industry is to speed up and facilitate insurance processes in addition to increasing security (reducing fraud); All the actors involved in this process, especially the insurer and the insured, can benefit from smart contracts in their insurance activities.
Purpose:The purpose of this study is to investigate the adoption of financial technology on the green growth and sustainability of SMEs.The root issue is that despite the increasing attention of fintech exposure in business markets, Malaysian businesses are hesitant to fully adopt this emerging technology.This study aims to bridge the gap between the potential of fintech innovations and their practical implementation by adopting two theoretical approaches: 1) Research-based view model for green growth 2) Extended version of the technology acceptance model for the fintech dimension.Design/Methodology/Approach: The research adopts a quantitative method using a crosssectional survey design with a five-point Likert scale questionnaire.Data was collected from 247 decision-makers representing SMEs in Selangor, Malaysia, and the sampling technique uses stratified random sampling.The data were analyzed using SPSS and Smart-PLS.Findings: Fintech factors of green financing and green investment significantly influence the green growth sustainability, while cryptocurrency is not significant towards it.Interestingly, the finding on the moderator role of blockchain smart contracts does not play a role in moderating all the fintech factors toward green growth sustainability.Practical Implication: The direct relationship of green financing and green investment is driving the future innovation toward green growth sustainability, particularly for SMEs, but cryptocurrency gives a different insight on it.On the other hand, integrating blockchain smart contracts as the moderator for the fintech dimension does not allow the businesses to move toward green sustainability.It is essential for companies to provide platforms by offering knowledge and awareness about this technology.Aside from this, the study provides empirical implications for SMEs green growth sustainability using fintech platforms.Originality value: The research findings reveal that the moderating effect of blockchain smart contracts was insignificant in driving green sustainability outcomes for SMEs.This innovation did not support green growth sustainability to enhance transparency and increase the accountability into the environmental claims.It challenges the technology-centric view
Blockchain technology and decentralized finance (DeFi) are reshaping global financial systems. Despite their impact, the spatial distribution of public sentiment and its economic and geopolitical determinants are often overlooked. This study analyzes over 150 million geo-tagged, DeFi-related tweets from 2012 to 2022, sourced from a larger dataset of 7.4 billion tweets. Using sentiment scores from a BERT-based multilingual classification model, we integrated these tweets with economic and geopolitical data to create a multimodal dataset. Employing techniques like sentiment analysis, spatial econometrics, clustering, and topic modeling, we uncovered significant global variations in DeFi engagement and sentiment. Our findings indicate that economic development significantly influences DeFi engagement, particularly after 2015. Geographically weighted regression analysis revealed GDP per capita as a key predictor of DeFi tweet proportions, with its impact growing following major increases in cryptocurrency values such as bitcoin. While wealthier nations are more actively engaged in DeFi discourse, the lowest-income countries often discuss DeFi in terms of financial security and sudden wealth. Conversely, middle-income countries relate DeFi to social and religious themes, whereas high-income countries view it mainly as a speculative instrument or entertainment. This research advances interdisciplinary studies in computational social science and finance and supports open science by making our dataset and code available on GitHub, and providing a non-code workflow on the KNIME platform. These contributions enable a broad range of scholars to explore DeFi adoption and sentiment, aiding policymakers, regulators, and developers in promoting financial inclusion and responsible DeFi engagement globally.
With the widespread adoption of smart contracts in automated financial transactions, the accurate and efficient processing of image data related to financial transactions has become a critical challenge.The successful execution of smart contracts relies on the precise verification of transaction voucher images, yet existing image processing technologies still face limitations in dealing with background complexity, noise interference, and text extraction accuracy.To address these issues, this study proposes a comprehensive image processing approach aimed at enhancing the automation of financial transaction verification.The research focuses on four key areas: separation of table lines and text regions in images, application of Sauvola local adaptive binarization, table detection and reconstruction, and text extraction and fracture restoration techniques.Through these efforts, the study aims to provide more efficient and reliable technical support for financial transaction verification in smart contracts, thereby advancing the development of smart contract technologies.
Srikanthudu Avancha, Prof. Arpit Jain, Er. Om Goel
The rapid evolution of the IT sector has led to increasingly complex vendor management systems, necessitating innovative solutions to handle the multifaceted challenges associated with these systems. Traditional vendor management practices often struggle with issues related to transparency, security, inefficiencies in communication, and trustworthiness among vendors. Blockchain technology, with its decentralized, immutable, and transparent characteristics, presents a compelling solution to these challenges. This research paper explores the application of blockchain technology in IT vendor management, focusing on its potential to address critical challenges and enhance the overall efficiency of vendor-related processes. The paper begins by outlining the inherent challenges in conventional vendor management systems, including difficulties in verifying vendor credentials, managing contracts, ensuring data security, and maintaining a reliable audit trail. These challenges often result in operational inefficiencies, increased costs, and potential risks related to vendor fraud or non-compliance. Blockchain technology, known for its secure, transparent, and decentralized nature, offers a transformative approach to these challenges. By providing a distributed ledger that records all transactions in a secure and immutable manner, blockchain can significantly enhance the transparency and security of vendor management processes. The paper examines how blockchain can be used to automate vendor verification, streamline contract management through smart contracts, and ensure data integrity across the vendor lifecycle.
This research paper aims to explore aspects of smart contract technology in Islamic finance, focusing on its legitimacy, objectives, and potential applications in Islamic social finance. This study relies on comparative qualitative analysis methodology and revolves around discussing the nature of smart contracts, the challenges related to their formulation and implementation, regulatory frameworks, and the cryptocurrencies used within them. The study presents proposed models for utilizing smart contracts in Islamic social finance and uses comparisons between different experiences to provide in-depth insights.This article also presents proposed models for leveraging smart contracts in Islamic social finance, using a comparative qualitative analysis approach. The study underscores the significance of integrating new innovations to maintain leadership in finance, as Islamic finance seeks to integrate its principles with Sharia-compliant systems and develop products that combine technological excellence with Sharia compliance. This study provides important findings and valuable recommendations for integrating smart contracts into Islamic social finance, contributing to enhancing innovations and developing advanced financial tools that effectively meet market needs while complying with Sharia principles. ملخص البحث هذه الورقة البحثية تهدف إلى استكشاف جوانب تقنية العقود الذكية في المالية الإسلامية، مركزة على شرعيتها، وأهدافها، واستخداماتها المحتملة في التمويل الاجتماعي الإسلامي. يتمحور منهج الدراسة حول مناقشة طبيعة العقود الذكية، والمشكلات المتعلقة بصياغتها وتنفيذها، والأطر التنظيمية لها، والعملات المشفرة المستخدمة ضمنها. كما يقدم الورق نماذج مقترحة للاستفادة من العقود الذكية في التمويل الاجتماعي الإسلامي، باستخدام منهج تحليلي نوعي مقارن. وتبرز أهمية الدراسة في الحاجة الملحة إلى اعتماد الابتكارات الجديدة للحفاظ على الريادة في المالية، حيث تسعى المالية الإسلامية لدمج مبادئها مع الأنظمة المتوافقة مع الشريعة وتطوير منتجات تجمع بين التميز التكنولوجي والامتثال الشرعي. الدراسة تأتي بنتائج مهمة وتوصيات قيمة لدمج العقود الذكية في التمويل الاجتماعي الإسلامي، مما يسهم في تعزيز الابتكارات وتطوير أدوات مالية متقدمة تلبي احتياجات السوق بشكل أكثر فعالية وامتثالًا للشريعة.
Pierluigi Martino, Tom Vanacker, Igor Filatotchev, Cristiano Bellavitis
Abstract Drawing on institutional and demand-side perspectives, we investigate performance implications of (de)centralized governance modes in platform-based new ventures, and the conditions under which (de)centralization generates more value. Using a sample of 1,431 Initial Coin Offerings (ICOs), a new source of entrepreneurial finance, we find that centralization of decision-making is positively associated with platforms’ market value. Further, we consider how platform characteristics affect this relationship, finding that both the presence of an experienced Chief Technology Officer (CTO) and project transparency negatively moderate the positive relationship between centralization and market value. Thus, decentralized platforms need leaders with technical experience and project transparency to generate more value. Overall, this study provides a better understanding of the boundary conditions that increase the value of (de)centralized governance.
WEB3 technologies on network architectures, distributed ledgers and decentralised artificial intelligence represent a transformative shift in how data are handled, stored and shared. These innovations promise to significantly enhance consumer data privacy rights by addressing fundamental vulnerabilities associated with traditional centralised systems and self-custody wallets. Data breaches in traditional systems operated mainly by third parties are more common, resulting in significant data leaks because of centralised storage and excessive data movement, sometimes unnecessarily. Healthcare data breaches have been a growing concern globally. Several hospitals faced operational halts on account of the impact of ransomware on patient care and privacy. WEB3 Wallets are a vital component emerging as a significant force for global financial inclusion, especially in developing economies. They promote inclusion, reduce costs and empower individuals through self-custody. Though major improvements are needed in these wallets, their use is rising steadily. The global cryptocurrency user base is expected to reach over 500 million by 2025, with substantial growth in emerging markets, according to a report by Statista in 2023. This paper introduces a concept beyond cryptocurrencies and finance into everyday real-world use cases that need combinatorial access to a person's holistic data, including financial and health records, genomic data, advanced directives, among others, that need to be privacy protected and shared with specific actors identified for their roles in the WEB3 ecosystem through decentralised identifiers and non-fungible token badges identifying particular recipients. The author introduced the concept at ETHBoston in April 2024, won accolades for a primitive implementation using underlying threshold cryptography technologies, and enhanced it into a conceptual holistic data share application for global healthcare as presented in this paper.
The integration of blockchain technology and cryptocurrency within the framework of Islamic finance has raised significant ethical, legal, and regulatory concerns. Blockchain technology, known for its transparency, decentralization, and immutability, offers a promising solution for enhancing financial inclusion, transparency, and security in financial transactions. However, the use of cryptocurrencies, such as Bitcoin and Ethereum, introduces complexities due to their speculative nature, which may violate Sharia principles like gharar (excessive uncertainty) and riba (usury). This study explores the compatibility of blockchain and cryptocurrency with Sharia law, focusing on the challenges and opportunities that arise in the context of Islamic finance. The study analyzes existing fatwas (Islamic legal opinions), regulatory frameworks, and the application of Sharia principles to emerging financial technologies. It discusses the ethical dimensions of blockchain and cryptocurrency, such as their potential to promote fairness and transparency, while addressing concerns about privacy violations and the risks associated with unregulated trading. Furthermore, the research highlights the lack of standardized global regulations for cryptocurrency and blockchain, which complicates their adoption in Muslim-majority countries. The study also emphasizes the importance of establishing Sharia-compliant governance frameworks and regulatory standards to ensure the ethical use of these technologies. Finally, the study provides recommendations for further research in the intersection of Islamic law, digital finance, and global governance frameworks, focusing on the development of policies that ensure Sharia-compliant digital assets and technologies.
Zulkarnain Muhamad Sori, Shamsher Mohamad, AIMI ADIBAH YASMIN AHMAD, Mohammad Noor Hisham Osman
Cryptocurrencies are digital currencies void of any support from regulatory body that is currently in vogue as a medium of exchange and an investment security.This paper examines the accounting treatment for cryptocurrency from the perspective of IFRS and AAOIFI accounting standards and propose actions to standard setters on the best way to treat the Crypto transactions in accounting reports.A proper accounting treatment will allow for a fair reporting of crypto related transactions and facilitate users of financial statements to make objective assessment of this new invention.A content analysis was conducted to review all major accounting standards issued by accounting standards setting bodies for possible accounting treatment for cryptocurrencies.To better understand the issue in practice, an analysis of accounting treatment of cryptocurrencies by 2 companies also was conducted.This study found that there is no suitable accounting standard that could objectively be applied for cryptocurrencies.For example, from the perspective of the current accounting standards, cryptocurrencies match the definition of inventory if it is used as a commodity for broker-trader and intangible asset for others respectively.It is suggested that there an urgent need for the International Accounting Standards Board (IASB) to comprehensively develop accounting standard for cryptocurrency, specifically to develop a specific category for this type of assets to allow a standard treatment for cryptocurrency and fill the gap in the IFRS.
Blockchain technology and smart contracts are emerging as transformative tools for enhancing transparency and efficiency in supply chain management and vendor relations. Traditional supply chains often face challenges such as inefficiencies, lack of transparency, and susceptibility to fraud (Kouhizadeh & Sarkis, 2018). Blockchain, a decentralized ledger technology, coupled with smart contracts, which are self-executing contracts with the terms directly written into code, offers promising solutions to these challenges (Wang, Han, & Beynon-Davies, 2019). This paper explores the application of blockchain and smart contracts in these domains, examining their potential to provide immutable records, streamline processes, and mitigate risks (Casado-Vara et al., 2018). Through a comprehensive analysis of current literature and case studies, we identify key benefits including improved transparency, enhanced efficiency, and better risk management (Christidis & Devetsikiotis, 2016; Tian, 2016). Our findings suggest that blockchain and smart contracts can significantly improve supply chain transparency and vendor management, though their implementation requires careful consideration of technical, regulatory, and organizational factors (Saberi et al., 2019). Notable case studies, such as Walmart’s blockchain pilot for food safety and De Beers' diamond tracking initiative, illustrate the practical benefits and challenges of adopting these technologies in real-world scenarios (Casino, Dasaklis, & Patsakis, 2019; Kshetri, 2018). Despite the promising outlook, further research is needed to address scalability, interoperability, and regulatory compliance issues to fully realize the potential of blockchain and smart contracts in supply chain management (Hughes et al., 2019).
Ibrahim Mutambik, Abdullah Almuqrin, Zuopeng Zhang, Zahyah H. Alharbi
Although cryptocurrencies are not yet widely used as a method of payment in retail and commercial transactions, they are attracting a growing level of interest. However, if cryptocurrencies are to attract mass adoption for settlement, they will need to have merchant and consumer trust. This paper examines the factors which contribute to the development of trust, and whether the perception of trust varies between cultures (Arab and non-Arab). To explore this, the study analysed, using multigroup partial least squares analysis, 729 survey responses. The analysis examined the impact of four factors on perceived trust in cryptocurrency payments, and found that the perception of information confidentiality, identifiability and traceability all have a significant effect, while perceptions of fraud vulnerability had very little impact. There were also clear socio-cultural effects. This research offers significant insights into the trust dynamics essential for the acceptance of crypto-payment-services and highlights the importance of culture perspectives.
Maria Letícia da Rosa Cornassini, Oksandro Osdival Gonçalves
Na sociedade informacional, empresas passam a adentrar o liame virtual e construir presença on-line, construindo patrimônio. Esse patrimônio poderá ser formado por ativos digitais, dentre eles, as NFTs, que trazem uma problemática: como manter o patrimônio empresarial seguro, considerando os custos de transação ligados às NFTs? Assim, o objetivo principal desse trabalho é, através do método hipotético-dedutivo e da técnica de pesquisa bibliográfica, analisar como a qualificação de NFTs como propriedade garante maior proteção ao patrimônio empresarial. Ao final, concluiu-se que empregar direitos de propriedade sobre as NFTs faz com que seja necessário caracterizá-las enquanto bens passíveis de tutela jurídica para aplicação dos direitos inerentes à propriedade. A aplicação destes direitos serve como incentivo para redução dos custos de transação associados às relações envolvendo NFTs e, consequentemente, um incentivo positivo para utilização de novas formas de propriedade.
Purpose: Aim of the study was to analyze the impact of cryptocurrency adoption on financial inclusion in Myanmar. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Cryptocurrency adoption in Myanmar holds promise for enhancing financial inclusion by offering faster and cheaper remittance options, especially in underserved rural areas. However, challenges such as regulatory uncertainties and concerns over consumer protection must be addressed through clear and supportive regulatory frameworks. To maximize benefits, Myanmar should focus on improving financial literacy, developing user-friendly cryptocurrency platforms integrated with mobile money services, and establishing coherent regulatory guidelines in collaboration with international bodies. Unique Contribution to Theory, Practice and Policy: Diffusion of innovation theory, technology acceptance model (TAM) & institutional theory may be used to anchor future studies on impact of cryptocurrency adoption on financial inclusion in Myanmar. Practical initiatives should prioritize enhancing financial literacy and digital education programs tailored to Myanmar's population. Initiatives that promote understanding of blockchain technology and cryptocurrencies among consumers, businesses, and policymakers are crucial. Policymakers in Myanmar need to develop clear and supportive regulatory frameworks that balance innovation with consumer protection.
Longjin Yu, Man Ji, Fazli Haleem, Yilong Gong · 6 authors
Small and medium-sized enterprises (SMEs) play a critical role in promoting the development of China’s real economy and improving national productivity, but their financing still faces challenges. In recent years, supply chain finance (SCF) has become one of the most important solutions to SMEs’ financing difficulties. Promoting the digital and innovative development of SCF can better meet the financing needs of SMEs. This study is based on a case study of Zhejiang MYbank Co., Ltd. (MYbank) in Hangzhou, China, which is a representative institution of digital supply chain finance development in China and committed to realizing the digital innovation development of SCF. Based on MYbank’s financial index data from 2018 to 2022, the implementation effect of MYbank’s digital supply chain finance is quantitatively analyzed from the perspectives of SMEs and MYbank. The main findings are as follows.(1) In the practice of digital supply chain finance, MYbank implements the new concepts of SCF decentralization and full coverage of supply chain links while enhancing the sustainability of SCF. (2) For SMEs, MYbank’s digital supply chain finance development has led to an increase in the financing scale and financing availability of SMEs. (3) The analysis of MYbank’s comprehensive benefits shows that the digital innovation development of SCF effectively increased the overall economic value of the enterprise during the period of 2018–2022. Based on these findings, this study provides implications for commercial banks and other financial institutions to develop digital supply chain finance.
Hassen Louati, Ali Louati, Abdulla Almekhlafi, Maha ElSaka · 7 authors
As blockchain technology increasingly underpins digital transactions, smart contracts have emerged as a pivotal tool for automating these transactions. While smart contracts offer efficiency and security, their automation introduces significant legal challenges. Detecting and preventing fraud is a primary concern. This paper proposes a novel application of artificial intelligence (AI) to address these challenges. We will develop a machine learning model, specifically a Convolutional Neural Network (CNN), to effectively detect and mitigate fraudulent activities within smart contracts. The AI model will analyze both textual and transactional data from smart contracts to identify patterns indicative of fraud. This approach not only enhances the security of digital transactions on blockchain platforms but also informs the development of legal standards and regulatory frameworks necessary for governing these technologies. By training on a dataset of authentic and fraudulent contract examples, the proposed AI model is expected to offer high predictive accuracy, thereby supporting legal practitioners and regulators in real-time monitoring and enforcement. The ultimate goal of this project is to contribute to legal scholarship by providing a robust technological tool that aids in preventing cybercrimes associated with smart contracts, thereby laying a foundation for future legal research and development at the intersection of law, technology, and security.
Manuel J. Fernández Iglesias, Christian Delgado‐von‐Eitzen, Luis Anido
The growing importance of traceability in supply chains requires robust, transparent, and efficient systems to ensure the integrity and authenticity of product journeys. This paper presents a comprehensive characterisation and data model for a generic blockchain-based traceability system, highlighting its implementation using smart contracts on Ethereum-compatible networks, as the Ethereum Virtual Machine (EVM), with its pioneering implementation of smart contracts and its extensive ecosystem; it provides a robust environment for developing decentralised applications. We discuss the advantages of using blockchain technology to notarise traceability activities, ensuring immutability and transparency by exploring two main scenarios, namely one where hash keys (i.e, cryptographic digests) are stored on-chain while detailed data remain off-chain, and another where all traceability data are fully stored on-chain. Each approach is evaluated for its impact on scalability, privacy, storage efficiency, and operational costs. The hash key method offers significant advantages in reducing blockchain storage costs, enhancing privacy, and maintaining data integrity, but it depends on reliable off-chain storage. Conversely, the full on-chain approach guarantees data immutability but at a higher cost and lower scalability. By combining these strategies, a balanced solution can be achieved, leveraging the strengths of both methods to provide a reliable, efficient, and secure blockchain-based traceability system, which is illustrated with a practical implementation to support traceability in the timber sector in Galicia, Spain. This paper aims to provide valuable insights for researchers and practitioners looking to implement or enhance traceability systems using blockchain technology, demonstrating how smart contracts can be effectively utilised to meet the demanding requirements of modern supply chains.
Cheuk Hang Au, Kevin K.W. Ho, Kris M. Y. Law, Dickson K.W. Chiu
Abstract The proliferation of cryptocurrencies has contributed to the emergence of different cryptocurrency exchanges (crypto-exchanges). While these services may be regarded as FinTech, involving cryptocurrency as the major transaction currency has made these services potentially distinctive from other fiat-based FinTech services. Thus, the critical success factors of crypto-exchanges may not be identical to those of other fiat-based FinTech services. Grounded on theories related to FinTech and service varieties, we developed a survey and explored the role of different factors on users’ continuous intention of adopting the crypto-exchanges. Our results suggested that when users perceive specific crypto-exchange characteristics, they are more likely to adopt the exchange continuously. Combining previous literature, we name this set of factors “LAS-VICT principle”, including low user-burden, asset-light, scalability, variety, innovativeness, scalability, and transparency. However, users’ emphasis on factors may differ based on their cryptocurrency experience. Based on our findings, we provided some theoretical and practical implications.
With the advent of Bitcoin, a cryptographically-enabled peer-to-peer digital payment system, blockchain together with a whole package of distributed ledger technologies, which serve as the underlying foundation of all the crypto-currencies, have been gaining attention from both academia and industry in the last fifteen years. The recent years have witnessed tremendous momentum in the development of blockchain and distributed ledger technologies, largely due to the impressive rise in the market capital of these digital tokens. More and more industries, from banking and insurance, to supply chain and e-commerce, are quickly realizing the great potential in blockchain technology in efficiency boost, process automation and secure data sharing across otherwise isolated data silos. Furthermore, as the recognition of the data value began to sink in, data assets has become an essential part of the development of enterprises and countries. Blockchain technology is regarded as the foundation of digital economy and provides an effective approach for data ownership, pricing and transactions, which are the core issues of data asset management. However, the potential implications of Blockchain technologies go far beyond their application as the technological backbone for cryptocurrencies. Web3.0, using blockchain as underlying technology, allow for various novel application scenarios, which are built upon distributed consensus and thus are hard to block or censor while providing public verifiability of peer-to-peer transactions without a trusted central party. Web3.0 are expected to become the main front for a plethora of highly expressive applications. To more thoroughly explore the potential of blockchain and web3.0 and promote their progress, SDBD'24 will provide a forum for the most recent blockchain and web3.0 research, innovations, and applications, bridging the gap between theory and practice in the design.
The popularity of decentralized finance has drawn attention to liquidity mining (LM). In LM, a user deposits her cryptocurrencies into liquidity pools to provide liquidity for exchanges and earn yields. Different liquidity pools offer varying yields and require different pairs of cryptocurrencies. A user can exchange a cryptocurrency for another with some exchange costs. Thus, an LM solution consists of exchange transactions and deposit transactions, guaranteeing (1) each exchange transaction must exchange one cryptocurrency for another at a specific rate (i.e., the exchange constraint); (2) the amounts of cryptocurrencies deposited in a liquidity pool must exceed the required threshold (i.e., the minimum constraint); (3) each deposit transaction must deposit a specific pair of cryptocurrencies at a certain rate in a liquidity pool (i.e., the deposit constraint); and (4) the cryptocurrencies used in the solution do not exceed the cryptocurrencies that the user has (i.e., the budget constraint). Selecting the most profitable LM solution is challenging due to the vast number of candidate solutions. To address this challenge, we define the yield maximization liquidity mining (YMLM) problem. Given a set of liquidity pools, a set of the user's cryptocurrencies, a set of exchange rates, and an evaluation function, YMLM aims to find an LM solution with maximal yields, satisfying the minimum, exchange, deposit, and budget constraints. We prove that YMLM is NP-hard and cannot be solved by algorithms with constant approximation ratios. To tackle YMLM, we propose two algorithms, namely YMLM\_GD and YMLM\_SK, with parameterized approximation ratios. Extensive experiments on both real and synthetic datasets show that our approaches outperform the baselines in yields.