This research paper focuses on the concept of a crypto commercial center where clients can purchase and offer non-fungible tokens and other items utilizing cryptocurrency.With the recent surge in popularity of NFTs, there has been a growing demand for a secure and user-friendly platform that facilitates their exchange.Users Also want One Secure Marketplace where they can buy or sell their products.So This paper examines the technical and economic aspects of building such a marketplace, including the use of smart contracts, blockchain technology, IPFS.Additionally, the paper explores the features that are provided by different marketplaces, Features which they all lack, then creating a crypto marketplace for products and NFTs.Overall, the research highlights the potential for a crypto marketplace to revolutionize the way in which NFTs and Products are bought and sold, and its potential to transform the wider digital economy.
Local communities engage production systems based on a set of agreed quality standards to which each member must adhere. Most of these systems, from local food production to renewable energy communities, require continuous and transparent monitoring of sensor values collected from users’ devices. Existing centralized solutions for data monitoring grant sole authority to a single entity, introducing risks of data manipulation without consensus. Distributed ledger technologies offer promising solutions, but their scalability limitations pose challenges in handling the vast volume of data generated by Internet of Things applications. This paper proposes an innovative approach that leverages distributed ledger technologies to certify sensor data, allowing user groups to customize their certification policies by exploiting the policy templates we provide. We develop our templates and system monitoring as Hyperledger Fabric smart contracts and validate our solution on three different use cases in local communities. Experimental results show that our system reduces blockchain stored data volume and enhances trust and transparency in sensor monitoring while accommodating diverse stakeholder requirements. Our solution enables a simple, detailed analysis of certified policy violations.
The digital transformation of the real estate industry is being significantly influenced by blockchain technology and smart contracts, which promise enhanced efficiency, transparency, and security in transactions. This study aims to develop a secure and efficient smart contract management protocol that balances the benefits of blockchain with robust data privacy practices. The methodology involves descriptive analytics of transaction data from the Ethereum blockchain, feasibility studies using synthetic transaction data, and a regulatory compliance analysis to map the impact of different regions' regulations on blockchain adoption in real estate. The findings reveal that while smart contracts can automate various processes and reduce reliance on intermediaries, challenges related to data privacy and regulatory compliance persist. Higher privacy features in smart contracts are associated with increased execution costs, indicating a trade-off between privacy and cost efficiency. Smart contracts with privacy level 3 had an execution cost of 0.025 ETH, compared to those with privacy level 1 at 0.02 ETH. Integrating permissioned blockchains and zero-knowledge proofs offers a promising solution, though their complexity limits broader adoption. Zero-knowledge proofs maintained high privacy (achieving privacy levels of up to 0.76) at a reasonable computational cost (proof generation time of 1.9 seconds). Thus, the integration of permissioned blockchains and zero-knowledge proofs offers a promising pathway to address these challenges. However, the complexity of these techniques requires specialized knowledge, limiting broader adoption. The study concludes with recommendations to develop specialized training programs, collaborate on regulatory frameworks, invest in advanced cryptographic research, and implement targeted strategies to overcome adoption barriers. These efforts will contribute to the digital transformation of asset management, fostering innovation and enhancing the overall efficiency of real estate transactions.
Online banking not merely enables customers to make transactions within a short time and access transactional information anywhere but also facilitates financial institutions to simplify transaction procedures and reduce their operating expenses. Common concerns by both customers and financial institutions are the secure authentication measures for protecting sensitive financial information from cybersecurity threats and maintaining their trust in a secure environment. This paper presents a blockchain-supported scheme to establish secure authentication and mutual trust for handling online banking processes. The proposed solution’s model design, inference process, proof method, security analysis, and performance evaluation are included in this study. With the decentralized applications and smart contracts, that benefit from disruptive innovations in blockchain technology, the proposed scheme enables financial institutions to provide efficient, immutable, transparent, and secure online financial services for customers. In addition, the computational efforts of the proposed solution show that high performance can be achieved in executing financial transactions while safeguarding sensitive data and retaining trust in a decentralized environment which is some of the most significant weak security of the existing authentication schemes for online banking platforms.
Blockchain technology is one of the most innovative and versatile technological advancements of contemporary times, finding applications in various fields such as finance, healthcare, education, and real estate. This paper provides a systematic review of blockchain technology, its historical evolution, fundamental concepts, different types of blockchain, and its various applications. The study also explores the key characteristics of blockchain, including decentralization, transparency, and immutability, and discusses the challenges and limitations faced by the technology, such as scalability issues, security concerns, and regulatory challenges. Additionally, the paper looks into future trends and developments in blockchain technology, particularly advancements in consensus algorithms, integration with other emerging technologies, and the rise of Central Bank Digital Currencies (CBDCs) and Decentralized Finance (DeFi).
The hotel enterprise is dealing with numerous challenges together with inefficiencies, lack of transparency, and safety issues. Blockchain technology using Smart Contract has the ability to cope with those challenges and improve the overall operations of the Hotel Booking.
Blockchain technology and smart contracts have emerged as revolutionary tools with the potential to transform various industries by providing decentralized, transparent, and secure methods for recording transactions and automating contractual agreements. However, the adoption of these technologies also raises significant legal and regulatory challenges. This paper critically examines the legal implications and challenges associated with blockchain technology and smart contracts. Through an analysis of existing legal frameworks, case studies, and regulatory approaches across different jurisdictions, this study identifies key issues such as enforceability, jurisdiction, data privacy, and security. The paper also explores potential solutions and recommendations for addressing these challenges, aiming to contribute to the development of a robust legal framework that supports the responsible use of blockchain technology and smart contracts.
The advent of blockchain technology has revolutionized various sectors by providing transparency, immutability, and automation. Central to this revolution are smart contracts, which facilitate trustless and automated transactions across diverse domains. However, the proliferation of smart contracts has exposed significant security vulnerabilities, necessitating advanced analysis techniques. Data dependency analysis is a critical program analysis method used to enhance the testing and security of smart contracts. This paper introduces Sligpt, an innovative methodology that integrates a large language model (LLM), specifically GPT-4o, with the static analysis tool Slither, to perform data dependency analyses on Solidity smart contracts. Our approach leverages both the advanced code comprehension capabilities of GPT-4o and the advantages of a traditional analysis tool. We empirically evaluate Sligpt using a curated dataset of Ethereum smart contracts. Sligpt achieves significant improvements in precision, recall, and overall analysis depth compared with Slither and GPT-4o, providing a robust solution for data dependency analysis. This paper also discusses the challenges encountered, such as the computational resource requirements and the inherent variability in LLM outputs, while proposing future research directions to further enhance the methodology. Sligpt represents a significant advancement in the field of static analysis on smart contracts, offering a practical framework for integrating LLMs with static analysis tools.
Microgrids are regarded as vital components in contemporary realm of energy system improvement, resilience, and sustainability. In this paper a novel decentralized peer-to-peer energy trading system leveraging blockchain technology is proposed. The proposed model not only demonstrates the implementation of blockchain technology in microgrids but also transforms the energy sector by emphasizing decentralization, security and efficiency. This research aims to enhance the energy trading system by including smart contracts written on the Ethereum network. Energy Token and Demand Response contracts are integrated to enable dynamic interactions inside microgrids, which leads to a transparent, secure, and efficient energy trading system. Moreover, automation of energy transactions and elimination of intermediaries ensure cost effectiveness and utilization of excess energy potentially reduce dependency on the main grid. A microgrid system is designed in Simulink for distributed energy trading. Energy credits are represented by standard ERC-20 digital token and then demand response contract dynamically adjusts rewards and energy prices based on energy production and consumption. the ERC-20 contract manages the token transaction and then demand response contract enforces governance rules. The purpose of a demand response contract is to enable the automatic and efficient control of energy usage in response to changing demand and supply conditions. The use of the Web3 library further facilitates a direct and smooth connection between the blockchain network and microgrids. The results demonstrate the successful implementation of both smart contracts, making trading possible at noon when the combined generation from solar array and energy management system exceed the energy demand. • A P2P decentralized energy trading model leveraging blockchain technology to enhance microgrid efficiency and sustainability. • ERC-20 tokens are used for trading purpose. • Demand Response contract is written for balanced microgrid operation. • Employs Web3 library for direct and smooth interaction between microgrid and blockchain.
This paper ushers an investigation into such an alignment of Machine learning (ML) algorithms in decentralized finance (DeFi) platforms, arguing the innovation's benefits of increasing security and facets of trading strategies besides predicting sessions in an ecosystem of decentralized finance.DeFi, based on blockchain technology, promotes traditional financial services as fair, secure, transparent, and non-tamperable outside the financial system's institutions.Specifically, predictive analytics and algorithmic trading substantially benefit from machine learning, as large volumes of data are analyzed for patterns and relations, which help improve the efficiency of the market.The current use of ML in DeFi is the implementation of varying functions, such as detecting fraud with the help of anomaly detection algorithms and, identifying vulnerabilities using intelligent contract auditing. Compound, Aave, and MakerDAO depict how the four suit has successfully integrated ML, enabling risk management, providing liquidity, and improving collateral management. However, incorporating ML into DeFi also has some issues, including computation power and size difficulties, adversarial attacks, data privacy and fairness, and regulatory issues. Mitigating these challenges with the help of novel technologies and collaborative approaches in the regulatory sphere is essential for unlocking the potential of DeFi with the help of ML. Therefore, this paper, r calls for continuing research and innovation to cater to these complexities and harness the interaction between machine learning and decentralized finance.
Jianzheng Shi, Zheng Jincheng, Yue Wang, David Lee Kuo Chuen
This scholarly work offers an in-depth analysis of the transformative impact of cryptocurrencies on fundraising mechanisms, with a particular focus on the evolution from Initial Coin Offerings (ICOs) to airdrops and beyond. We delve into the importance of tokens, elucidating the advantages of ICOs over traditional fundraising methods such as Initial Public Offerings (IPOs) and crowdfunding. Additionally, we critically assess the effectiveness of airdrops as a bootstrapping mechanism and facilitator of project development. To optimise the benefits for the ecosystem, we propose a set of design criteria for airdrops. Furthermore, we introduce the latest innovative fundraising approaches for future development and indicate meaningful directions for further research. By providing valuable insights and references, our study offers a comprehensive guide for researchers and industry professionals exploring new cryptocurrency funding methods.
Abstract Environmental, social, and governance (ESG) disclosure has drawn much attention from listed companies, investors, and regulators. In response to the increasing demand of investors and regulators for non‐financial information, listed companies have paid attention to publishing ESG reports consisting of environmental, social, and governance information. Listed companies are increasingly required to provide high‐quality information that is clear and comparable. However, the lack of incentive to listed companies makes it hard to improve the quality of ESG disclosure, and the cost of ESG disclosure leads to the uncontrollable quality of ESG reports and may even manipulation by opportunistic behaviors. In this paper, we illustrate the moral hazard problem in ESG disclosure from the perspective of investors and listed companies, in which the effort level for listed companies to provide high‐quality ESG report cannot be observed by investors. Then we propose a blockchain‐based incentive mechanism for ESG disclosure from a principal‐agent perspective to improve the information quality of ESG disclosure, where investors act as principal and listed companies act as agents. Token in blockchain technology is utilized as the rewards to improve the listed companies' reputation, thus increasing their chance of being promoted to investors for preferential investment opportunities in the blockchain platform. We then design the first‐best (FB) and second‐best (SB) optimal contracts based on classic principal‐agent model to overcome the moral hazard problem. Extensive simulations are conducted to demonstrate the effectiveness and feasibility of the incentive mechanism.
Rumi Suwardiyati, Hanif Nur Widhiyanti, Setiawan Wicaksono
Smart contracts in blockchain systems are widely used as automated agreements that can expedite the execution of a contract. Based on the characteristics of smart contracts analyzed through agreements in the Indonesian Civil Code (BW), it can be concluded that smart contracts can be legally used in contractual legal activities in Indonesia. This is because smart contracts meet the requirements outlined in the BW as guidelines for contract formation, particularly concerning the validity of contracts. Using a normative method, which employs literature as legal material for this writing, the result shows that the validity of smart contracts in blockchain, based on Indonesian contract law, aligns with the contract law that fulfills the requirements of Article 1320 BW. Smart contracts can also be classified as standard agreements where the parties agree based on an existing and mutually agreed-upon contract. Until now, there are no specific regulations regarding smart contracts in Indonesia, even though smart contracts are already widely used in the country.
The growing popularity of cryptocurrency as an investment choice among millennials demonstrates their inclination toward digital advancements and openness to exploring diverse investment opportunities. The study examines how financial literacy factors impact experience regret, investment decisions, and risk tolerance, while financial literacy also affects investment decisions, with experience regret and risk tolerance acting as a mediator. The study comprises 295 participants from the millennial demographic in Indonesia who are engaged in cryptocurrency investment. The data collection techniques employed in this study involve non-probability sampling methods through the distribution of questionnaires. The analysis in this study employs Structural Equation Modeling (SEM) in conjunction with Partial Least Squares (PLS) analysis tools. The results of this study suggest that financial literacy positively impacts regret experience, investment decisions, and risk tolerance with the respective sample values of 0.146, 0.397 and 0.449. Additionally, regret experience negatively influences investment decisions with a sample value of –0.385, while risk tolerance positively influences investment decisions with a sample value of 0.198. Financial literacy has a negative impact on investment decisions when regret experience acts as a mediator with a sample value of –0.056, but a positive impact when risk tolerance serves as a mediator with a sample value of 0.089. This complex relationship highlights the importance of considering multiple factors, including financial literacy, regret experience, and risk tolerance, in understanding and predicting investment decisions among individuals, particularly in the context of the millennial generation investing in cryptocurrency in Indonesia.
Decentralized technologies such as blockchain facilitate secure and anonymous transactions, heralding a new era of financial innovation. However, the advent of cryptocurrencies has also posed significant challenges, especially in the realm of preventing money laundering practices. In Indonesia, individuals have exploited these systems for illicit money laundering from fraudulent schemes. Therefore, this study aimed to critically analyze the effectiveness of current regulatory frameworks and propose improved approaches to mitigate money laundering risks associated with cryptocurrency. Indonesia expects to shift its legal perspective due to the substantial threats posed by attempting to regulate a volatile financial system. This study employed normative legal research methods. The findings suggest that recognizing cryptocurrency as a legal tender could advance the agenda of addressing money laundering as a critical threat to financial stability and national security. This would significantly enhance the regulatory framework and ensure the financial system's integrity amidst evolving threats.
With the popularity of Play-to-Earn (P2E) games, in-game token economies have become the foundation of the financial structure of virtual worlds. More and more players are investing in digital assets, promoting long-term economic growth. This paper delves into the key factors for the sustainability of the P2E game token economy: the investment value of tokens and external incentives. When tokens are no longer profitable, user churn rates rise sharply, which is critical to the continued development of P2E games. External factors also significantly impact token prices, which affects the stability and sustainability of the entire economic system. In response to these challenges, this paper proposes a series of strategies to enhance token stability, including adjustments to game design, improvements to player incentive mechanisms, and the formulation of relevant policies and regulations. The conclusions of this study aim to provide valuable insights and guidance to game designers, investors, and players to promote the healthy development of Web3 game token economic systems.
Achmad Napis Qurtubi, Efendi Sugianto, Muhammad Umar Kelibia
This study investigates the legality of Bitcoin from the perspective of Fiqh Muamalah through qualitative analysis and literature review. Fiqh Muamalah, an Islamic jurisprudential framework, regulates economic transactions according to Sharia law. The research examines whether Bitcoin, as a digital currency, aligns with Islamic legal and ethical standards by analyzing scholarly articles, religious texts, and fatwas issued by Islamic scholars. Key considerations include Bitcoin's nature as a currency, its speculative role, and potential for illicit activities. Findings reveal diverse scholarly opinions, with some viewing Bitcoin as permissible under specific conditions, while others raise concerns about its speculative nature and lack of intrinsic value. This study aims to provide comprehensive insights into Bitcoin's legality within Fiqh Muamalah, offering valuable information for policymakers, financial institutions, and Muslim investors.
Francisco Elieser Giraldo-Gordillo, Ricardo Bustillo-Mesanza
In the past decade, the emergence of Blockchain has questioned certain financial institutions. Cryptocurrency upsurge was aimed at conducting financial transactions with more efficiency while being safer, easier, faster, and cheaper. Thus, over-intermediation in finance has been highlighted by Blockchain emergence. Here, a SWOT will be carried out to examine Blockchain and cryptocurrencies, their monetary role, their impact on a financial system based on banking intermediation, and their influence on the future of central banking. About the United States, this paper concludes that cryptocurrencies will eventually spread as a method of payment, which could lead them to be the new form of money under some assumptions. The eventual adoption of blockchain technology by central banks through the introduction of official digital currencies could favor the creation of a more inclusive financial system in the future.
The financial services industry is experiencing a transformative shift driven by the rapid growth and adoption of financial technology, or fintech. Fintech represents the integration of innovative digital technologies into financial services, revolutionizing how money is managed, transferred, invested, and regulated globally. This paper examines the pivotal role of fintech in transforming the global financial landscape by exploring its origins, key technological enablers, and the wide-ranging impacts on traditional financial institutions, consumers, and regulators.Fintech innovations have democratized access to financial services, enhanced operational efficiency, reduced costs, and improved customer experiences. Technologies such as mobile payments, blockchain, artificial intelligence, and peer-to-peer lending platforms have reshaped sectors including banking, insurance, wealth management, and regulatory compliance. Moreover, fintech has played a significant role in promoting financial inclusion, particularly in developing economies where traditional banking infrastructure is limited. The adoption of mobile money services has empowered millions to participate in the financial system for the first time.This paper also discusses the challenges associated with fintech adoption, such as data privacy concerns, cybersecurity risks, regulatory complexities, and the digital divide. It highlights the importance of balanced regulation and collaboration between fintech startups and traditional financial institutions to ensure sustainable growth. Additionally, the emergence of decentralized finance and green fintech exemplifies how the sector continues to innovate, addressing evolving economic and environmental priorities. In conclusion, fintech is not merely a technological advancement but a fundamental reimagining of global finance, creating opportunities for efficiency, inclusivity, and sustainability. By addressing its challenges responsibly, fintech can pave the way for a more equitable and resilient financial ecosystem that benefits individuals, businesses, and governments worldwide.
Genetika manusia merujuk pada informasi yang dikumpulkan tentang genom atau warisan genetik individu manusia. Data ini mencakup sekuens DNA, variasi genetik, mutasi, dan informasi lain yang terkait dengan sifat dan karakteristik genetik individu manusia. Data genetika manusia diperoleh melalui serangkaian proses, meliputi penguntaian genetik, pengujian genetik, analisis DNA, dan pemetaan genetik. Data genetika terutama pada manusia merupakan data yang bersifat privat yang harus dilindungi keamanan dan kerahasiaanya. Beberapa penelitian telah menggunakan teknologi Blockchain untuk menyimpan data yang memerlukan keamanan ekstra. Blockchain memberikan solusi untuk perlindungan dan pengelolaan data dengan fitur teknologinya yang terdesentralisasi, terenkripsi, setiap transaksi bisa ditelusuri, dan antitampering atau sulit dimodifikasi. Penelitian menerapkan teknologi Blockchain untuk menyimpan dan mengelola data genetik. Sebagai bahan penelitian data genetika manusia diakusisi dari NCBI repository. Data genetik tersebut disimpan dalam Smart contract pada blockchain Ethereum yang ditulis menggunakan bahasa pemrograman Solidity. Setiap transaksi dan penyimpanan data pada Ethereum dibebankan biaya yang cukup mahal atau yang dikenal dengan biaya gas maka penelitian ini menawarkan solusi hanya menyimpan signature saja dari data genetik itu dalam blockchain. Data genetik yang riil dan berukuran besar disimpan dalam InterPlanetary File System (IPFS). Hasil pengujian menjalankan smart contract pada blockchain Ethereum yang hanya menyimpan signature data genetik ini menunjukkan biaya gas yang sangat efisien karena hanya menyimpan 256 bit saja dari data genetik riilnya yang dapat mencapai giga byte. Abstract Human genetics refers to information gathered about the genome or genetic heritage of human individuals. This data includes DNA sequences, genetic variations, mutations, and other information related to individual human genetic traits and characteristics. Human genetic data is obtained through a series of processes, including genetic sequencing, genetic testing, DNA analysis, and genetic mapping. Genetic data, especially in humans, is private data that must be protected by security and confidentiality. Several studies have used Blockchain technology to store data that requires extra security. Blockchain provides solutions for data protection and management with its technological features that are decentralized, encrypted, every transaction can be traced, and anti-tampering or difficult to modify. Research uses Blockchain technology to store and manage genetic data. As research material, human genetic data was acquired from the NCBI repository. The genetic data is stored in Smart contracts on the Ethereum blockchain written using the Solidity programming language. Every transaction and data storage on Ethereum is charged with a fairly expensive fee, known as a gas fee, so this research offers a solution by only storing the signature of the genetic data in the blockchain. The real and large-scale genetic data is stored in the InterPlanetary File System (IPFS). The test results of running a smart contract on the Ethereum blockchain that only stores genetic data signatures show a very efficient gas cost because it only stores 256 bits of real genetic data, which can reach gigabytes.
The role of Web3 technologies was examined specifically regarding SmartCharity and their effect on the financing and delivery of public goods in developing countries. The research focused on the case of SmartCharity, its role in making fund distribution more transparent and efficient, and the role of NFTs and smart contracts’ efficacy in changing. For primary data, the cross-sectional study used interviews and questionnaires administered to the critical actors in or close to SmartCharity initiatives; secondary data came from project reports and publicly accessible sources. Quantitative analysis uses statistics to identify trends and correlations in data, whereas qualitative data analysis identifies such trends and patterns. This paper aimed to establish an appreciation of the strengths and weaknesses of Web3 innovation in public good management and make future suggestions for improvement.
This study aims to describe the overview of financial literacy, risk preferences, and investment decisions, as well as to analyze the influence of financial literacy and risk preferences on cryptocurrency investment decisions among millennials in Tangerang City. The research sample consisted of 95 respondents, selected using purposive sampling technique. Data was collected through a questionnaire with a Likert scale format. The collected data was then analyzed using Partial Least Square (PLS). The results indicate that financial literacy and risk preferences among cryptocurrency investors in Tangerang City are at a very high level. The high financial literacy and risk preferences positively contribute to cryptocurrency investment decisions. Hypothesis testing shows that both financial literacy and risk preferences have a positive and significant impact on cryptocurrency investment decisions. This study has implications for efforts to improve the rationality of cryptocurrency investment decisions to avoid undesirable losses, such as selecting cryptocurrencies with less volatile price fluctuations or diversifying portfolios by combining cryptocurrencies with conventional assets like stocks, bonds, or mutual funds.
Bringing Bitcoin ETFs into traditional financial markets is like inviting a digital newcomer to an old-school financial party.This exploration aims to simplify and uniquely address what happens when the digital currency world, with all its buzz and unpredictability, crashes into the steady, established realm of traditional finance.I am especially curious about three things: how smooth trading becomes (or doesn't), how much prices start dancing around, and whether investors start changing their tunes.First up, Trading Ease.Think of this as how quickly you can buy or sell something without causing a big scene in the price department.With Bitcoin ETFs stepping onto the scene, we might see more action in trading spaces because they could pull in a crowd of investors, making everything more fluid.Then again, Bitcoin's wild ways could throw in some twists, challenging the smooth flow we're used to.Next, we've got Price Moves.Bitcoins got a reputation for rollercoaster rides in its pricing.Tossing Bitcoin ETFs into the mix with more traditional setups has us wondering: Are we in for smoother rides, or should we brace for bigger loops?This investigation digs into whether these new ETFs will steady the ship or rock it harder.And then there's Investor Moves.Adding a new move to the financial floor, like Bitcoin ETFs, could really change how investors groove.Will they cling to their classic steps, or are they ready to swing to a digital beat?This part looks at whether investors are going to lean more into the digital craze or stick with their old favorites, and what that means for institutional investors and individual investors alike.But this isn't just about the here and now.This change has bigger implications for the DJs of the financial world (regulators), the party organizers (financial institutions), and the stakeholders.As digital currencies shimmy into the spotlight of traditional finance, getting the rhythm right between innovation, safety, and growth becomes key.In essence, this paper takes a fresh, simplified look at what happens when the digital and traditional financial worlds start collaborating.By breaking down the effects on trading ease, price dynamics, and investment strategies, it aims to offer clear, unique insights for everyone from casual investors to the big shots making the rules.