Leslie Ashlyn Verde, Tomas U. Ganiron, Leslie Ashlyn Verde
Poor payment practices continue to plague not only the private construction industry but also the government construction sector. According to recent studies, conditions and instructions can be encoded into smart contracts to allow automatic payments. The construction industry in the Philippines is slow to adapt to new technologies. This research proposes the adoption of smart contracts for implementing Philippine government infrastructure projects. By analyzing datasets from the Cordillera Administrative Region, this study determined the willingness of government employees and contractors to adopt smart contracts for government projects and identified factors causing doubt among contractors and government employees about its implementation. A total of 218 professionals responded to a Google Form questionnaire, and 20 participants were involved in unstructured interviews, which supported the data and results from the questionnaire. To interpret and validate the data gathered, a two-tailed t-test analysis was used. The study revealed that the Philippine government construction industry, specifically in the CAR region, is not yet ready to adopt smart contracts. It was also found that smart contracts will only be effective with proper introduction through seminars and training.
This study explores the application of a Graph Attention Networks version 2 (GATv2) model in analyzing the Ethereum blockchain network, addressing the challenge posed by its inherent anonymity. We constructed a heterogeneous graph representation of the network to categorize contract accounts (CAs) into different decentralized application (DApp) categories, such as DeFi, gaming, and NFT markets, using transaction history data. Additionally, we developed a link prediction model to forecast transactions between externally owned accounts (EOAs) and CAs. Our results demonstrated the effectiveness of the heterogeneous graph model in improving node embedding expressiveness and enhancing transaction prediction accuracy. The study offers practical tools for analyzing DApp flows within the Web3 ecosystem, facilitating the automatic prediction of CA service categories and identifying active DApp usage. While currently focused on the Ethereum network, future research could expand to include layer 2 networks like Arbitrum One, Optimism, and Polygon, thereby broadening the scope of analysis in the evolving blockchain landscape.
Purpose This study delves into the challenges obstructing the integration of blockchain-enabled smart contracts (BESC) in the construction industry. Its primary objective is to identify these barriers and propose a roadmap to streamline BESC adoption, thereby promoting sustainability and resilience in building engineering. Design/methodology/approach Employing a unique approach, this study combines the Technology-Organization-Environment-Social (TOE + S) framework with the IF-Delphi-HF-DEMATEL-IFISM methodology. Data is collected through surveys and expert interviews, enabling a comprehensive analysis of BESC implementation barriers. Findings The analysis reveals significant hindrances in the construction industry’s adoption of BESC. Key obstacles include economic and market conditions, insufficient awareness and education about blockchain technology among stakeholders, and limited digital technology integration in specific cultural and societal contexts. These findings shed light on the complexities faced by the industry in embracing blockchain solutions. Originality/value The research makes a significant contribution by combining the TOE + S framework with the IF-Delphi-HF-DEMATEL-IFISM methodology, resulting in a comprehensive roadmap to address barriers in implementing BESC in Sustainable Construction Projects. Noteworthy for its practicality, this roadmap provides valuable guidance for construction stakeholders. Its impact extends beyond the industry, influencing both academic discourse and practical applications.
Chihiro Kado, Naoto Yanai, Jason Paul Cruz, Kyosuke Yamashita · 5 authors
Vulnerabilities in Ethereum smart contracts often cause significant financial damage. Whereas the Solidity compiler has been updated to mitigate vulnerabilities, the effectiveness of these updates remains undisclosed to the best of our knowledge. In this paper, we aim to shed light on the impact of compiler versions on reducing vulnerabilities in Ethereum smart contracts. To achieve this, we collected 497,344 contracts with Solidity source codes from the Ethereum blockchain and analyzed their vulnerabilities. For three vulnerabilities of high severity, i.e., Locked Money , Using tx.origin , and Unchecked Call , we illustrate their appearance rate changes, showing decreases attributed to major updates of the Solidity compiler. Subsequently, we found the following four key insights. Firstly, updates to version 0.6 and version 0.8 led to decreased appearance rates for Locked Money . Secondly, regardless of compiler updates, the appearance rate for Using tx.origin was significantly low. Thirdly, the appearance rate for Unchecked Call significantly decreased from version 0.5 to version 0.8. Lastly, as an incidental discovery from our empirical study, we identified implications for code clones, which merit attention from subsequent researchers and developers.
Mohamed M. Nofel, Mahmoud Marzouk, Hany Elbardan, Reda Saleh · 5 authors
Over the last few decades, remarkable technical advancements, including artificial intelligence, machine learning, big data, blockchain, cloud computing, and the Internet of Things, have emerged. These tools have the ability to change the accounting process. This study aims to conduct a systematic literature review on using the Internet of Things (IoT), blockchain, and eXtensible Business Reporting Language (XBRL) in a single accounting information system (AIS) to enhance the quality of digital financial reports. This paper employs a systematic literature review (SLR) methodology, specifically, by adopting the widely accepted PRISMA technique. The final sample of this study included 309 related studies from 2013 to 2023. Our findings highlight the lack of literature related to the integration of these three types of technologies within a unified AIS. This study is extremely significant because it proposes a new research stream that explores the possibility of integrating IoT, blockchain, and XBRL in a single accounting system, yielding a plethora of benefits to the accounting field. However, the potential benefits of such an integration are evident, including enhanced transparency, real-time reporting capabilities, and improved data security. Our paper’s main contribution is that it is the first paper, to the best of our knowledge, to explore the integration of these three technologies. We also identified important gaps in the research and pointed out ways for future research to somehow take a lead in exploring further how this integrated system is affecting accounting practices.
Bruno Machado Agostinho, Stefano Chessa, Raffaele Perego, Mário A. R. Dantas · 5 authors
The proliferation of Internet of Things (IoT) applications has surged in recent years, necessitating efficient communication protocols. The Message Queuing Telemetry Transport (MQTT) protocol, designed specifically for IoT devices, has gained prominence due to its lightweight publisher/subscriber model. However, inherent concerns arise within the conventional MQTT architecture, particularly pertaining to broker-side vulnerabilities. In addressing these concerns and enhancing data security, we advocate the utilization of blockchains and smart contracts for storing and transmitting broker messages. We designed and compared two different approaches, bringing a detailed latency analysis for each step and validating its functional viability, establishing a robust environment for IoT applications.
This study aims to analyze the influence of content creators on cryptocurrency investment decisions in generation Z, with digital financial literacy as a mediating variable. The research used quantitative methods by distributing questionnaires and obtaining 111 research samples from gen-Z who are active on social media and have experience in cryptocurrency investment. The data was processed through path analysis test and sobel test. Based on the results of the study found that the role of content has a direct correlation with investment decisions, the role of content has a significant positive effect on digital financial literacy, digital financial literacy has a significant positive effect on crypto investment decisions, and the mediating variable of digital financial literacy can mediate the effect of the role of content creators on cryptocurrency investment decisions.Keyword: Role of Content Creator; Digital Financial Literacy; and Cryptocurrency Investment
The evolution of mobile technology has produced new methods and policies for organisations to process data and communicate. Bring your own device (BYOD), which allows employees to bring their own personal devices to work and access organisational resources for work purposes, is one such new policy. However, as this practice poses significant risks, organisations must implement commensurate security measures to protect their integrity. This paper aimed to mitigate these risks by proposing a decentralized and unassailable security control solution tailored to the BYOD environment. The proposed architecture leveraged business blockchain with smart contracts (SCs) to automate policy compliance and strictly adhere to organisational rules and regulations. The research demonstrated that this approach effectively reduces access control (AC) threats and enhances security policies and management. The findings highlighted that the implementation of SCs within a blockchain framework significantly improves the security of the BYOD environment by minimising the risks of unauthorised access, data breaches, and insider threats. Additionally, SCs enable organisations to establish decentralised and tamper-proof security control systems, reducing the dependence on centralised authorities and bolstering overall system integrity.
Refika Komala, B. R. Arun Kumar, Mahadeshwara Prasad, A Shreyas
Legal consideration hold significant importance in the cloud migration process, encompassing contractual arrangements, data sovereignty concerns, and liability matters. Organizations need to make sure that their contracts with cloud service providers (CSPS) cover important aspects such as data ownership, usage rights, and indemnification clauses. In the ever-changing world of smart cities, the importance of ensuring secure, compliant, and efficient data migration across international borders has become more crucial than ever. This paper introduces a new framework that combines natural language processing (NLP), and blockchain smart contracts to tackle the intricate legal issues involved in moving data across borders in cloud settings. The framework starts by utilizing an NLP model to ensure compliance with data protection regulations, such as GDPR, CCPA, and DPDPA, which are specific to the destination jurisdiction of the data. After confirming the verification, the smart contract initiates the data transfer process, securely recording metadata such as file hash, timestamp, and transfer details on the blockchain, guaranteeing transparency and immutability. After the transfer, an international vendor at the destination verifies the data against the relevant legal requirements, guaranteeing compliance before storing it in the destination cloud. By adopting this approach, we can ensure the legal validity of cross-border data transfers, while also promoting trust and accountability among all parties involved in smart city ecosystems. The findings indicate that this framework has the potential to greatly reduce the risks associated with data sovereignty, liability, and contractual obligations when moving data to the cloud.
Investor behavior in making investment decisions is always based on clear reasons, whether for reasons of the future, profit, or hedging. This also provides a more precise portrait of investor behavior and the learning process if you want to enter the crypto asset industry. Apart from that, future suggestions for future researchers are expected to include female informants as a new perspective in researching investor behavior. The aim of carrying out this research is to find out what strategies can be implemented by cryptocurrency asset investors in order to get an optimal level of return. The method approach used in this research is qualitative library research. The data sources used as references in this research are data originating from articles, books, and newspapers from electronic media with the search keywords: how to invest in crypto, crypto investing techniques, and crypto investing strategies. The data obtained was then analyzed using NVivo 10 Plus software. From the results of this research, several strategies for investing in cryptocurrency assets were obtained, namely: determining the type and purpose of investment, studying the cryptocurrency assets you are interested in, choosing trusted cryptocurrency assets, choosing safe exchanges and wallets, paying attention to service fees and spreads, don't be afraid of missing out ( FOMO), buying when prices are low (support) and selling when prices are high (resistance), diversifying and mitigating risk, investing on various platforms, not easily panicking and oriented towards holding on for dear life (HODL), always following development information cryptocurrency, following and joining cryptocurrency communities, and regularly doing dollar-cost averaging (DCA).
The study aimed to analyse the possibilities of using blockchain technology to increase transparency and efficiency in sustainable finance. The application of blockchain technologies and environmental and social practices in the context of sustainable finance was analysed, emphasising implementation and prospects in Kyrgyzstan. Blockchain, as an innovative decentralised data recording technology, provides a high level of security, transparency and immutability, which renders it particularly valuable for the financial sector. The study highlighted how blockchain can improve international transfer processes, increase the transparency of financial transactions and simplify the management of smart contracts, and noted existing challenges such as scalability and legal issues. The role of blockchain technologies in sustainable finance, especially in the field of green investments, was highlighted as an important aspect of the study. The introduction of blockchain in areas such as green project financing and social initiative management can help increase investor confidence and improve investment performance. Financial technology is also central in shaping new approaches to finance and investment, facilitating access to capital through crowdfunding and person-to-person (P2P) lending platforms. The introduction of environmental and social practices in financial institutions of the Kyrgyz Republic demonstrates the growing attention to corporate responsibility and sustainable development, despite the initial stage of their implementation. On international stage, successful projects such as the use of blockchain to track supply chains, green bonds and carbon credit management demonstrate the potential of technology to improve the transparency and efficiency of sustainable finance. These examples can be used by Kyrgyzstan in developing and implementing domestic blockchain and environmental and social initiatives, contributing to more sustainable economic growth and attracting international investment
This study 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 widespread use of smart contracts results in high repeatability of their source code. The solution seems to lay in reusing the verification rules that check the feasibility of logically related transactions. The software allows for developing a smart contract that may process various transaction types. Besides, employing the package in implementing a smart contract eliminates the redundancy of verification rules. The package structure ensures the ability to handle actual smart contracts and transactions at the abstract level. Moreover, the article presents a proposal to standardize the way of designing the transaction verification function in a smart contract.
Combining AI with blockchain smart contracts is possible and can significantly improve smart contracts' functionality, flexibility, and performance. In this paper, concepts of intelligent contracts, advanced through artificial intelligence, are described as potential solutions for increasing the efficiency and security of numerous industries. Some of these are explained by showing the application of the technology in financial services, supply chains, healthcare, and legal processes, as well as the practical enhancements brought about by this technology. Furthermore, the paper explores the prospects for developing the AI smart contract regarding compatibility, expansibility, ethical artificial intelligence, and superior automation. AI and blockchain integration are predicted to have immense impacts on economics and social advancements that will lead to increased automation and decentralization.
Integrating blockchain technology within the banking sector represents a pivotal transformation, promising enhanced security, transparency, and efficiency in financial operations. This qualitative research employs a systematic review approach to investigate the current state, challenges, and prospects of blockchain adoption in banking, drawing insights from a comprehensive analysis of scholarly literature. Through a systematic search and review of relevant academic journals, conference papers, books, and reports, this study explores critical variables such as security, transparency, efficiency, challenges, opportunities, and impact associated with blockchain adoption in banking. Thematic analysis is the primary methodological approach to identify recurring themes, patterns, and relationships across literature, facilitating a nuanced understanding of blockchain's implications for banking operations. The findings reveal a dual nature of blockchain adoption in banking, highlighting significant opportunities alongside critical challenges. While blockchain technology offers enhanced security, transparency, and efficiency, challenges like scalability issues, regulatory uncertainties, and interoperability concerns persist. Nonetheless, the study underscores the transformative potential of blockchain in revolutionizing banking operations, urging policymakers and banking practitioners to address these challenges through continued research, technological innovation, and collaborative efforts. By leveraging blockchain effectively, the banking industry can navigate the digital landscape, enhance operational efficiency, and deliver superior customer experiences, thereby gaining a competitive edge in the financial sector
Oluwaseun Aaron Adigun, Babatunde O Falola, Sunday David Esebre, Ifeoluwa Wada · 10 authors
The integration of financial technology (fintech) innovations, particularly artificial intelligence (AI) and blockchain, is poised to revolutionize carbon markets by enhancing their transparency, efficiency, and overall trustworthiness. Carbon markets, which are vital tools in global efforts to reduce greenhouse gas emissions, have traditionally faced significant challenges such as lack of transparency, inefficiencies, and susceptibility to fraud. AI offers powerful tools for improving the accuracy and efficiency of monitoring, reporting, and verifying carbon emissions, while blockchain provides a decentralized, immutable ledger that ensures secure and transparent carbon credit transactions. This review explores how AI and blockchain can be applied to carbon markets by exploring the technical, operational, and regulatory challenges associated with their implementation and discuss the potential of integrated AI and blockchain solutions to create more robust and effective carbon trading systems.
This research paper explores the transformative role of cryptocurrency within the fintech landscape, analyzing its impact on traditional financial services, regulatory challenges, and future implications. The study integrates a comprehensive review of existing literature, employs a mixed-methods research approach, including statistical analysis, and presents findings through well-structured tables and charts. The paper concludes with key insights into the evolving relationship between cryptocurrency and fintech. Finally, this paper discusses the future implications of cryptocurrency in fintech, including its potential to democratize financial services, redefine monetary policies, and revolutionize global transactions. Understanding these dynamics is crucial for stakeholders, policymakers, and innovators to navigate the rapidly evolving landscape of cryptocurrency within fintech and harness its transformative potential effectively.
Aria Seo, Young-Tak Kim, Ji Seok Yang, YangSun Lee · 5 authors
Smart contracts on blockchain platforms are susceptible to security issues that can lead to significant financial losses. This study converts the Solidity code into abstract syntax trees and generates control flow graphs and data flow graphs. These graphs train a graph convolutional network model to detect security weaknesses. The proposed system outperforms traditional tools, achieving higher accuracy, recall, precision, and F1 scores when detecting weaknesses such as integer overflow/underflow, reentrancy, delegate call to the untrusted callee, and time-based issues. This study demonstrates that leveraging control and data flow analysis with graph neural networks significantly enhances smart contract security and provides a robust and reliable solution.
The research investigates cryptocurrency's function in enhancing Pakistani financial market portfolios while examining the digital asset popularity, surged as an investment choice. The analysis combines cryptocurrencies with conventional financial products to show how they affect both risk performance and risk spread capabilities. The main goal of this research is to understand if adding cryptocurrency investments produces superior returns than standard asset allocation strategies. This study intends to join the current discussion regarding digital asset adoption in emerging economies particularly Pakistan. A time period of six years extending from January 1, 2018 to December 31, 2023 contains daily financial data which includes both traditional assets and cryptocurrencies. The dataset receives preprocessing treatments which include normalization together with outlier removal and missing value imputation. The portfolio optimization process in Jupiter Notebook implements machine learning models under naïve equal weighting and maximum return and maximum Sharpe ratio and minimum variance constraints. Excel was used to run robustness checks for the analysis which demonstrated that cryptocurrency portfolios generate higher risk-adjusted performance than traditional investment collections. This research presents digital assets as a valid investment strategy component by improving portfolio diversity and overall performance while focusing specifically on the Pakistani financial market through combination of machine learning and standard financial modeling. The research enhances available scientific understanding of cryptocurrency integration in emerging market economies while failing to find sufficient existing literature on this subject matter. Succeeding studies should analyze digital asset regulatory measures and economic conditions alongside investor acceptance patterns towards crypto adoption in Pakistan. The research could benefit from additional analysis that incorporates alternative risk management approaches alongside sophisticated portfolio optimization algorithms.
Shipra Chhina, Mehmood Chadhar, Sally Firmin, Arthur Tatnall
Blockchain technology has garnered substantial interest due to its capacity to transform numerous industries by amplifying transparency and bolstering security measures. Despite the increasing interest, there is a void in existing literature regarding the alignment of actors with the diffusion of innovation principles in the context of blockchain adoption. This gap restricts comprehension of the factors influencing adoption. This research addressed this void by investigating how actors align with the diffusion of innovation principles in making decisions about blockchain adoption. Diffusion of innovation model was combined with the innovation translation concept derived from Actor-Network Theory to explore these complex dynamics in more detail. The results indicate that the decision-making process for blockchain adoption corresponds to knowledge, persuasion, and decision stages, mirroring the phases found in the innovation translation approach. This research offers theoretical insights and practical knowledge that can be beneficial to individuals and organisations looking to promote a successful implementation of blockchain technology.
In the last few years, blockchain has emerged as a cutting-edge technology whose main advantages are transparency, traceability, immutability, enhanced efficiency, and trust, thanks to its decentralized nature. Although many people still identify blockchain with cryptocurrencies and the financial sector, it has many prospective applications beyond digital currency that can serve as use cases for which traditional infrastructures have become obsolete. Governments have started exploring its potential application to public services provision, as confirmed by the increasing number of adoption initiatives, projects, and tests. As the current public administration is often perceived as slow, bureaucratic, lacking transparency, and failing to involve citizens in decision-making processes, blockchain can establish itself as a tool that enables a process of disintermediation, which can revolutionize the way in which public services are managed and provided. In this paper, we will provide a survey of the main application areas which are likely to benefit from blockchain implementation, together with examples of practical implementations carried out by both state and local governments. Later, we will discuss the main challenges that may prevent its widespread adoption, such as government expenditure, technological maturity, and lack of public awareness. Finally, we will wrap up by providing indications on future areas of research for blockchain-based technologies.
This study presents an innovative approach using the Ethereum blockchain to democratize access to tutoring services, advancing educational technology by bridging the affordability gap for learners with limited financial resources. This solution enables low-income learners to access tutoring services without significant expenses by eliminating intermediaries through smart contracts. Learners can directly book tutoring services based on fees and evaluations, ensuring a fair and accessible experience. The findings show that this approach reduces tutoring expenses and improves trust and accountability through transparent transactions and feedback mechanisms. The proposed system demonstrates how blockchain technology can foster a more equitable and efficient educational landscape, offering personalized
Blockchain technology’s scalability is a major challenge that hampers its adoption and utility, particularly in resource-constrained local communities. In this paper, we present TokenCards 1, a novel commit-chain tailored to local communities.