Introduction. Digital assets, such as cryptocurrency, tokens and NFTs (non-fungible tokens), other digital objects are rapidly changing the economic landscape, creating new opportunities for businesses and investors. However, unresolved issues regarding their legal regulation and accounting pose serious challenges for governments, businesses and financial institutions. This problem is of particular importance as digital assets become increasingly important in the global economy. Purpose of the study. The purpose of the study is to analyze the content of digital assets in a global context, to consider their specifics and place in modern economic realities. Special attention is paid to the challenges that arise in connection with unresolved issues regarding the regulation of digital assets. Research methods. In the process of research and writing the article, the following methods were used: dialectical, systems analysis, generalization, comparison, logical. Results. The article explores the essence of digital assets as an innovative object, it is determined that despite the similarity, the terms «digital assets» and «virtual assets» have different emphases in application, understanding their differences allows us to more accurately determine the legal status of the asset, the scope of its use and the features of accounting or regulation; digital assets cover a wider range of objects, while virtual assets are a subcategory of digital assets focused on the financial sphere. The main challenges associated with the use of digital assets in the financial and economic spheres are also highlighted. Among them are regulatory uncertainty, volatility risks, security issues and the lack of uniform accounting and financial reporting standards. The author emphasizes that the development of digital assets requires a clear legal framework and the implementation of international standards. The author predicts the growing role of digital assets in financial transactions, investments and tokenization of traditional assets. The conclusions emphasize that digital assets are not only a technological but also an economic phenomenon that transforms traditional approaches to storing and managing values. Prospects. Further study of the study of digital assets will not only allow for a deeper understanding of their nature, but will also contribute to the development of effective approaches to their regulation, integration into traditional economic processes and maximization of their potential in the modern world. The need to create unified approaches to the classification, assessment and reflection of digital assets in financial reporting is urgent. Research may include the development of new accounting standards that take into account the specifics of cryptocurrencies, tokens and NFTs.
In order to solve the problem of inefficient supervision caused by market segmentation in traditional financial supervision, the application of smart contracts in financial legal supervision is proposed. Based on the demand of financial market, this paper explores the role of smart contract technology in financial regulatory platform and studies the big data processing algorithm of financial regulatory platform. The financial regulatory platform mainly adopts the random forest algorithm, in the process of processing, through the construction of the model and the operation process, and the financial data characteristic variables and data random algorithm accuracy analysis and data processing. Experimental results show that: the system crawls mainly for the website information Cathay Pacific CSMAR database, selected 22 financial indicators, the use of financial data, prediction accuracy are above 96%, indicating that the system has a good prediction function. Conclusion: The result is favorable for the company to carry out mathematical statistics, and then avoid the risk.
The ontological issues such as the concept, features, and attributes of smart contracts written in code and running on the blockchain have been the focus of research in the academic community.In this paper, we first construct a smart contract illegal behavior determination model based on the C4.5 decision tree algorithm, which realizes accurate prediction and determination of illegal behaviors existing in smart contract transactions by extracting multiple attribute features of smart contract transaction data.Then, the correlation between smart contract features and contract risk is analyzed by Pearson coefficient, and the risk assessment evaluation system of smart contract performance is constructed by using hierarchical analysis.Finally, the fulfillment path of smart contract is proposed by synthesizing all the analysis results.Among the 24 randomly selected samples, the total prediction probability of the illegal behavior determination model based on the C4.5 decision tree algorithm reaches 95.83%, which is able to effectively identify the illegal behavior of smart contracts.The Pearson chi-square value between smart contract features and contract risk is 224.6317, and the Sig.(two-tailed) value is 0.000, indicating that there is a significant correlation between the two.By constructing a smart contract risk assessment index system, this paper designs a dynamic monitoring model of smart contract fulfillment risk level, and proposes a smart contract fulfillment path from the aspects of reasonable allocation of legal responsibility and legal regulation of contract fulfillment.
The economic and legal problems of the development of innovative technologies of the digital economy (using the example of cryptocurrency and blockchain) are studied: the issue of state regulation of cryptocurrency, the possibilities of its creation, use and limitations, the importance and prospects of their use in the modern world and in Ukraine. Cryptocurrency is one of the most promising technologies of the digital economy, which is actively developing every year, the volume of its circulation is increasing. Ukraine isamong the world leaders in the use of cryptocurrencies. In Ukraine, the Law «On Virtual Assets» was adopted, which regulates the procedure for the emergence, change, and termination of rights to a new object of civil law for Ukrainian legislation — cryptocurrency. It is shown that blockchain technology is the main technology of digitalization of social relations and legal processes in most developed legal systems of the world, which is used in the field of cryptocurrencies, smart contracts, registration of intellectual property (IP), ecommerce, and the Internet things, the economy of joint participation, etc. The connection between patents and cryptocurrency was revealed. The patenting of Blockchain, Crypto and DeFi technologies was analysed. Recently, many IP offices have revised the norms of patent legislation and the rules of examination of patent applications in order to recognize the patentability of these technologies. The best experience of legal regulation, inventive activity and the dynamics of patenting of inventions in this area in different jurisdictions (USA, EPO, China, France, Japan, South Korea), technological trends and regulatory problems are analysed. Recommendations on increasing the effectiveness of activities in this area in Ukraine have been provided. It is necessary to implement the rules of the EPO Guidelines (Guidelines for Examination) on computer-implemented inventions in the Rules for drawing up, submitting and examining an application for an invention and an application for a utility model.Cryptocurrencies and blockchain have significant potential, many companies have invested heavily in these fields, so countries' patent laws must ensure the protection of the respective investments.
Ali Bukhtiar, Hafiz Abdul Rehman Saleem, Asif Iqbal, Muhammad Younas · 5 authors
The development of blockchain technology and its affiliated cryptocurrencies quickly changed the outlook for numerous industries; the most recent, however is that of the smart contract, a self-executing digital agreement whose terms of contract are followed by automatic execution on specific conditions. Yet, despite the huge potential to transform the way transactions are conducted, implementing smart contracts within blockchain and cryptocurrency systems faces a host of legal issues. The research discussed the core legal issues of smart contracts, primarily being a lack of clarity concerning the regulatory framework, lack of clear regulation of enforcement in the traditional legal system, and issues with dispute and accountability. In the same context, the article takes the reader on a journey about the intricacies involved in understanding party intent when using smart contracts. The coding of the contracts might not always capture all the nuances within an agreement. Moreover, certain issues such as the anonymity of a blockchain system, further add the complexity to define the parties at fault in breach or fraud circumstances. This study aims at understanding the junction of law and technology, to identify key barriers that need to be addressed so that smart contracts can be appropriately used in the blockchain and cryptocurrency ecosystem. This research will deliver findings on the adaptation of new digital technologies with legal frameworks for accommodating these newer digital technologies. Recommendations will then be given on how to overcome the problems that are present with the current technology.
The integration of blockchain and artificial intelligence (AI) in legal contract execution has revolutionized traditional contract enforcement mechanisms. Smart contracts, self-executing contracts with terms encoded into blockchain networks, have emerged as a transformative tool in business transactions, reducing the reliance on intermediaries and enhancing contract security. AI further enhances these contracts by providing predictive analytics, natural language processing (NLP) for contract interpretation, and automated dispute resolution mechanisms. However, despite their potential, the legal recognition and enforcement of smart contracts pose significant challenges. Jurisdictional issues, regulatory compliance, contract validity, and the limitations of blockchain immutability necessitate an in-depth analysis of the legal landscape governing smart contracts. This paper provides a comprehensive review of the legal and regulatory frameworks surrounding AI-driven smart contracts, identifying their advantages, limitations, and future prospects. The study examines case laws, real-time implementations, and the role of AI in streamlining dispute resolution. The findings reveal that while blockchain enhances contract security and AI assists in interpretation, the lack of uniform legal frameworks remains a major hurdle. Through comparative analysis of existing regulatory approaches and real-world applications, this paper outlines potential solutions for effective enforcement and dispute resolution in AI-enhanced smart contracts.
The article is devoted to the study of the features of smart contracts, which are a type of electronic contracts. Smart contracts, which are also called “smart contracts” (origin of the word “smart contract”), correspond to modern trends in digitalization and provide an effective mechanism for the implementation of business, financial and economic relations in a virtual environment. The following methods were used in the study: general logical, method of analysis and synthesis, formal-legal, comparative-legal, systemic. When comparing the so-called “technological” and legal approaches to understanding the concept of “smart contract”, the views of different groups of foreign and domestic scientists and researchers on the interpretation of this concept were analyzed. The principle of operation of a smart contract is considered on a specific example, while the way in which a smart contract operates in certain specific conditions is studied in detail and possible reasons for its failure to perform are analyzed. When analyzing the operation of smart contracts, their practical, technical, legislative problems and features were identified. Thus, the feature of immutability of a smart contract is its advantage because it excludes the intervention of the human factor. But the immutability of a smart contract is also its disadvantage because it makes it impossible to conclude additional agreements to a smart contract when certain circumstances change. Taking into account the study of the properties of a smart contract and an example of its operation, it can be stated that a smart contract can function only in a certain environment provided that the executable program code has direct and unlimited access to the objects of the smart contract. This creates integration problems of a smart contract with the objects of its operation. Thus, if the subject of a smart contract is real estate and in this regard the specified electronic contract requires notarial electronic certification and corresponding registration in the digital environment, then today in Ukraine there is an integration problem of electronic notarial certification of such contracts due to the absence and legislative uncertainty of the mechanism of electronic notarial certification and registration. Also relevant is the problem of smart contracts regarding payments under them in cryptocurrency, which also requires a legislative solution, since the legal status of cryptocurrency in Ukraine has not yet been established. Solving these problems in the future will allow for the wider use of smart contracts by their Ukrainian counterparties.
The infusion of technology across various domains, particularly in process-centric and multi-stakeholder sectors, demands transparency, accuracy, and scalability. This paper introduces a blockchain and intelligent contract-based framework for judicial case management, proposing a private-to-public blockchain approach to establish a transparent, decentralized, and robust system. An Integrated Solution for Judicial Case Management using Blockchain Technology and Smart Contracts. This paper aims to introduce a multi-blockchain structure for managing judicial cases based on smart contracts, ultimately rendering cases more transparent, distributed, and tenacious. This solution is innovative because it will leverage both private and public blockchains to satisfy the unique requirements of judicial processes, with transparent public access for authorized digital events and transactions occurring on the freely available blockchain and a three-tiered private blockchain structure to address private stakeholder interactions while ensuring that operational consistency, security, and data privacy requirements are met. Leveraging the decentralized and tamper-proof approach of blockchain and cloud computing, the framework aims to increase data security and cut down on administrative burdens. This framework offers a scalable and secure solution for modernizing judicial systems, supporting smart governance's shift towards digital transparency and accountability.
The subject of the study is the main theoretical approaches to understanding the nature and functional role of smart contracts developed in the Russian civil doctrine. The object of the study is public relations in the field of using smart contracts as a means of regulating the turnover of copyright objects. The author raises the actual problem of using smart contracts in the field of copyright protection. The relevance of the issue is due to the widespread technological innovations in the field of intellectual property turnover, which requires the state to develop new solutions in the field of legal policy. The use of smart contracts is a promising technological solution that can ensure the effectiveness of protecting the interests of copyright subjects. Special attention is paid to certain aspects of the operation of smart contracts (their modification, termination) within the framework of the turnover of rights to copyright objects. The research methodology involves the use of structural and functional analysis tools, a method of interpreting legal ideas and a systematic approach, on the basis of which the article attempts to identify the functional significance of smart contracts as a technological and legal phenomenon in the sphere of turnover of copyright objects. The use of smart contracts is an innovative approach that contributes to the improvement of document management in Russian copyright law. The main conclusions of the author are the statement of the limited nature of the use of smart contracts in the framework of copyright protection of the results of intellectual activity. The author's contribution to the disclosure of the research topic is determined by the identification of differences between smart contracts and classical means of regulating contractual relations. Based on the conducted research, the author suggests ways to improve the legislative policy of the state, related to the lack of an orderly system of civil law norms governing relations in the field of smart contracts as tools for ensuring the registration of copyright objects and the fulfillment of private law obligations. The author substantiates the need to develop the provisions of civil legislation in terms of expanding legal structures capable of ensuring the fulfillment of agreements reached between the parties to a private law relationship.
This article examines the legal qualification of smart contracts within civil law jurisdictions, emphasizing the challenges posed by automated, code-based agreements in systems traditionally grounded in codified statutes and doctrinal principles. By exploring current scholarly debates, legislative approaches, and judicial interpretations, this study highlights the tension between the self-executing nature of smart contracts and the requirement for consent, formality, and interpretation under civil codes. Drawing on a qualitative analysis of doctrinal writings, statutory frameworks, and case-based discussions, the paper identifies core issues of enforceability, liability, and consumer protection. Results reveal the need for a more coherent integration of legal theory and technological design, underscoring the role of hybrid solutions that blend human interpretation with automated execution. The discussion situates these findings in the broader trajectory of contract law modernization, concluding with recommendations for policymakers and practitioners regarding risk mitigation, technological design improvements, and harmonized regulatory standards.
This comprehensive study examines the integration of smart contracts into civil law systems and analyzes the associated regulatory challenges. The research investigates the fundamental nature of smart contracts as technological tools and legal instruments, their compatibility with existing civil law frameworks, and the emerging regulatory approaches across different jurisdictions. Through systematic analysis of legislative developments, case law, and scholarly discourse, this study identifies key legal issues including contract formation, performance, enforcement, and dispute resolution in the context of smart contracts. The findings reveal significant gaps in current regulatory frameworks and propose solutions for harmonizing smart contract implementation with established civil law principles. This research contributes to the ongoing academic discourse on legal technology integration and provides practical recommendations for legislators, legal practitioners, and technology developers.
Since the introduction of Bitcoin, the first cryptocurrency, virtual currencies have become a topic of increasing public concern. Bitcoin trading is highly speculative and involves significant risks, as its value can fluctuate dramatically over time, with no single party held accountable for these changes. This study focuses on the protection of investors engaged in Bitcoin transactions on exchange platforms in Indonesia under positive law. The research employs a normative juridical approach, with both primary and secondary data sourced from legal texts, regulations, and relevant literature. The findings indicate that Bitcoin transactions in Indonesia primarily involve the sale of commodity assets through exchange platforms, which function as physical traders of crypto assets. Regulatory frameworks established by futures regulatory bodies play a crucial role in preventing fraud and safeguarding legal rights. According to Indonesian Contract Law, as outlined in the Civil Code (Burgerlijk Wetboek, BW), Bitcoin transactions are considered “legal” when they fulfill the contractual conditions specified in Article 1320. Consequently, investors are legally protected from both criminal and civil liabilities due to the validity of these transactions.
The article examines promising directions for improving access to justice in criminal cassation proceedings using modern digital technologies. It is stated that digitalization in this area should expand the possibilities of realization of the right to judicial protection and not create additional procedural barriers or restrictions on ac-cess to justice. The author proposes a system of main directions for digital transformation of cassation pro-ceedings, including creating a mechanism for digital interaction between participants, forming a procedure for remote implementation of procedural rights through personalized electronic access, implementing distributed ledger technology, and developing electronic identification procedures for participants. The necessity of main-taining procedural guarantees while implementing digital innovations is substantiated. Specific amendments to criminal procedure legislation are proposed to implement these directions.
Ahmad Anwar Zainuddin, Farah Mazlan, Nur Faizah Omar, Nik Nor Muhammad Saifudin Nik Mohd Kamal
Most conventional contract systems have issues with middlemen, drawn-out implementation procedures, fraud risk, and human error. Considering this, the project uses smart contract technology to provide a decentralized, automated, and safe solution in an effort to address such inefficiencies and the trust issues they raise. Smart contracts enable self-execution of contracts whose conditions are expressed explicitly in lines of code by presenting solutions using blockchain technology. The concept behind a smart contract is that each party may carry out their portion of the duties without depending on a third party and the contract will automatically execute in the meantime. This automation significantly reduces transaction costs while simultaneously improving security and transparency. With the use of this underlying technology, smart contracts may be used to directly code parties' compliance with their duties under the agreement and the blockchain will keep an immutable record of every transaction. For smooth and dependable transactions, smart contracts offer a dependable and effective substitute for conventional contract methods. Furthermore, integrating smart contracts with cutting-edge technologies like machine learning and artificial intelligence could improve decision-making and accelerate operations in a variety of sectors. Their application extends beyond financial transactions to areas such as supply chain management, energy trading, and healthcare, showcasing their versatility. Despite these advantages, issues like energy consumption, scalability, and regulatory compliance still need creative solutions. Ongoing research and development aim to address these issues, fostering the evolution of smarter, more sustainable contract systems. By leveraging these advancements, smart contracts keep opening the door for a revolution in the digital economy that will increase productivity and confidence.
The convergence of blockchain technology, smart contracts, and artificial intelligence represents a transformative technological paradigm that fundamentally reimagines corporate governance in fintech and logistics industries. This research review critically examines the profound technological disruption emerging at the intersection of advanced computational systems and organizational management strategies. By analyzing the intricate relationships between decentralized technologies, algorithmic decision-making, and traditional governance frameworks, the study reveals how these innovative technologies are reshaping organizational structures, operational transparency, and strategic decision-making processes. The investigation explores the multifaceted implications of blockchain and AI integration, demonstrating their potential to address critical challenges such as operational inefficiency, compliance complexity, and trust deficits in contemporary corporate environments. Through comprehensive empirical analysis and theoretical examination, the review illuminates the revolutionary potential of these technologies to create more adaptive, intelligent, and responsive governance ecosystems that transcend conventional organizational boundaries and limitations.
The subject of the study is the dependencies, trends and key features of the turnover of cryptocurrencies as a separate phenomenon. The purpose of the study is to analyze the key features of the cryptocurrency turnover and the problems of their legal regulation, followed by the development of practical proposals for the prevention of cryptocurrency crime. The objectives of the research are: analysis of modern technologies related to cryptocurrencies; their features and degree of influence on financial markets; problems of prevention and legal regulation of cryptocurrencies in Russia. The object of research is formed by public relations related to the use of cryptocurrencies in the financial market. Cryptocurrencies represent one of the most significant phenomena in financial technology. In the context of globalization and digitalization, they provide new opportunities for transactions, investments and storage of funds. However, the rise of decentralized finance, anonymous wallets, and NFT scams has turned blockchain into a "new shadow" of the global economy. This confirms the importance of developing new techniques and means of preventive activities of law enforcement agencies. The methodological basis of the work is the method of dialectical cognition, thanks to which it was possible to study the object and subject of research in relation to the domestic criminal legislation and other normative legal acts. The theoretical and methodological basis of the research is various logical techniques and means of scientific knowledge, general scientific and private scientific methods: modeling, forecasting, formal legal. The novelty of the study is due to the analysis of modern official statistical data and materials of investigative and judicial practice on the state of cryptocurrency crime in Russia. The study of domestic legal acts in the field of the use of financial assets allowed us to conclude that the status of cryptocurrencies is uncertain. The authors summarize that cryptocurrency crime does not require prohibitions, but a rethinking of law, because it is not technology that poses a threat, but its exploitation in conditions of legal inequality. The main conclusions obtained by the authors relate to determining the financial characteristics of cryptocurrencies, their volatility, liquidity, and risk assessment of use. The trend of increasing demand for the integration of cryptocurrencies into traditional financial systems has been proven. The problems of legal regulation and regulatory consolidation of the concept of "cryptocurrency", including in domestic criminal legislation, are outlined. The main reasons for the spread of cryptocurrency crime and the prospects for preventive activities of investigative authorities based on the capabilities of artificial intelligence have been identified.
Ghassan Adhab Atiyah, Nazura Abdul Manap, Ahmed Ismael Ibrahim
In the realm of law, technology is utilized to cope with the influx of smart contracts to replace traditional contracts that govern contractual dynamics. Smart contracts differ from traditional contracts as they rely on computer codes to fulfill the contractual obligations of the involved entities. This article discusses the current state of Iraqi contract law and assesses the feasibility of integrating Iraqi law to manage and implement smart contracts within the Iraqi legal system. The study employs a qualitative approach and adopts comparative doctrinal research to investigate current legal practices, the relevant legislation, and the adaptation of Iraqi laws to smart contracts. As a result, the study reveals the inadequacy of Iraqi contract law in incorporating smart contracts into existing legal practices in Iraq. It also underscores the necessity of enacting new laws to explicitly regulate the operation of smart contracts involving the use of cryptocurrencies.
Digital financial technologies (FinTech) have revolutionized the financial industry by integrating innovations such as blockchain, artificial intelligence, and decentralized finance into traditional systems. This study explores the conceptual evolution of FinTech and its legal and regulatory implications within global markets. It addresses challenges in defining, classifying, and regulating FinTech while maintaining market integrity and consumer trust. Using an integrative literature review of recent peer-reviewed articles, policy reports, and regulatory frameworks, the study examines themes like legal classifications of digital assets, regulatory strategies, consumer protection, and governance of blockchain platforms. Findings indicate that digital finance has surpassed traditional regulatory systems, leading to legal ambiguities and enforcement issues. Solutions like regulatory sandboxes, tailored crypto-asset regulations, and international standards show promise but must balance innovation with compliance. The study concludes that adaptive regulations, robust consumer safeguards, and global cooperation are critical for FinTech’s sustainable growth and alignment with legal frameworks.
У статті досліджено теоретичні та практичні аспекти впровадження smart contracts у процеси розрахунків із постачальниками та кредиторами. Акцент зроблено на аналізі ключових характеристик смарт-контрактів, зокрема автономності, самовиконання та незмінності, що визначають їхню ефективність та надійність у сучасних фінансово-господарських відносинах. Розкрито технологічну основу функціонування смарт-контрактів, підкреслено визначальну роль блокчейну та децентралізованих систем у забезпеченні прозорості, безпеки та стійкості транзакцій. Проаналізовано ключові виклики та ризики, що перешкоджають широкомасштабному впровадженню смарт-контрактів, серед яких виділено правові бар’єри через відсутність уніфікованого законодавства, технологічні ризики, пов’язані з можливими помилками у коді та питаннями масштабованості блокчейн-мереж, складність інтеграції смарт-контрактів у традиційні бізнес-процеси, а також соціально-етичні аспекти, що стосуються впливу на ринок праці та необхідності розвитку нових цифрових компетенцій.
The advent of smart contracts has reshaped the dynamics of corporate agreements with the aid of introducing automated, self-executing legal arrangements powered by using blockchain technology. These digital contracts offer great advantages, together with reduced transaction charges, greater transparency, and minimized reliance on intermediaries. However, their integration into corporate agreements provides a range of legal and regulatory challenges that stay unresolved. This paper examines the legal complexities springing up from the usage of smart contracts in corporate environments. It explores their enforceability under existing legal frameworks, highlighting troubles associated with agreement formation, consent, and the interpretation of coded terms. Jurisdictional uncertainty and cross-border enforceability further complicate the legal standing of smart contracts in multinational agreements. The study additionally addresses dispute resolution mechanisms within the context of immutable blockchain statistics, considering whether or not conventional legal remedies are compatible with smart contract structure. It discusses how emerging legal requirements and regulatory responses are shaping the adoption of smart contracts while making sure compliance with contract law principles. Moreover, the paper evaluates real-global programs of smart contracts in company transactions, together with supply chain management, monetary offerings, and decentralized autonomous groups (DAOs). It gives tips for organizations seeking to leverage this technology while mitigating legal dangers through hybrid contract models, legal safeguards, and hazard control frameworks. By means of bridging the gap among technological innovation and legal practice, this research underscores the need for adaptive legal frameworks that balance the performance of automation with the principles of justice, fairness, and duty. Understanding the legal frontiers of smart contracts is important for businesses aiming to harness their capability while navigating the evolving legal panorama of the digital financial system.
Technologies like Bluetooth and WiFi enable more and more devices to become interconnected, forming the IoT ecosystem. However, this growing connectivity brings significant security risks, especially in terms of access management. Blockchain technology, alongside smart contracts, has introduced novel ways to address trust concerns in decentralized networks. Traditional internet of Things (IoT) access control models rely on centralized authorities, making them vulnerable to single points of failure. Additionally, many smart contracts deployed today have exploitable weaknesses that can be leveraged to steal digital assets. To address this issue, we propose a decentralized approach, leveraging blockchain technology and smart contracts to ensure security and trust. Our methodology formalizes smart contract behavior using Transition Systems (TS) and Computation Tree Logic (CTL), allowing for the verification of key properties. Solidity code is translated into the Verds model-checking tool, which validates the correctness and security of the contracts. Our experiments demonstrate that the method is both scalable and effective, ensuring secure execution of smart contracts in dynamic IoT environments. This approach not only mitigates security risks but also highlights the potential of formal verification in improving the robustness of smart contracts, making them suitable for deployment in real-world applications.
The Internet and the World Wide Web were designed with the intention of being decentralised and interoperable, and therefore more democratic, where users have power over their data. Despite efforts to maintain this decentralisation, in recent years, the Internet has become a highly centralised network, thus ignoring the principles of decentralisation and democratisation on which it was designed. In response to this increasing centralisation of the Internet, different technologies have emerged that advocate the principles on which the Internet was built, such as the semantic web and blockchain. This thesis addresses the synergy between blockchain technology and the semantic web, two technologies that advocate the decentralisation of the Internet and give control of data back to users, allowing them to manage their own information in a secure way while both technologies have unique characteristics and can feed back on each other, either by offering the interoperability characteristic of the semantic web or the security of data provided by blockchain technologies. Therefore, this thesis explores and lays the groundwork for how the combination of these technologies can address the problem of decentralisation while offering solutions for transparent and interoperable data management. First, a state-of-the-art analysis of both technologies is performed, defining the main characteristics of the blockchain and the semantic web. The potential of blockchain to provide the decentralisation of the web and the immutability of records is analysed, as well as the different existing blockchain technologies, while the main standards and characteristics of the semantic web, such as interoperability and data understanding through ontologies and knowledge graphs, are analysed. Second, an analysis of the benefits that arise from the synergy between both technologies is made, and different prototypes of scenarios that integrate blockchain with the semantic web are proposed. Third, an analysis of the most promising scenarios is performed, and experiments are designed to evaluate the effectiveness and performance of the proposed scenarios. Fourth, ontology models are developed to cover Ethereum blockchain technology and smart contracts. Finally, a knowledge graph with these ontologies is built to demonstrate how the integration of these technologies can facilitate data management and improve blockchain analytics. In conclusion, this study lays the foundation for achieving a decentralised, standards-based, user-driven, data-driven Internet. Despite the benefits reflected in this thesis in achieving decentralisation of the Internet, the results obtained indicate that the integration of blockchain technology with the semantic web is feasible, but has certain limitations that need to be addressed, such as the cost of storing semantic data on the blockchain. RESUMEN El internet y la World Wide Web fueron diseñados con la intención de ser descentralizados e interoperables y, por lo tanto, más democráticos, donde los usuarios tuvieran el poder sobre sus datos. A pesar de los esfuerzos por mantener esta descentralización, en los últimos años Internet se ha vuelto una red altamente centralizada, ignorando así los principios de descentralización y democratización sobre los que fue diseñado. En respuesta a esta creciente centralización de Internet, han surgido diferentes tecnologías que abogan por los principios sobre los que se construyó Internet, como la web semántica y la blockchain. La presente tesis aborda la sinergia entre la tecnología blockchain y la web semántica, dos tecnologías que abogan por la descentralización de Internet y por devolver el control de los datos a los usuarios, permitiendo gestionar su propia información de manera segura, al mismo tiempo que ambas tecnologías tienen características únicas y pueden retroalimentarse entre sí, ya sea por ejemplo ofreciendo la interoperabilidad característica de la web semántica o la seguridad de los datos que proporcionan las tecnologías blockchain. Por lo tanto, esta tesis explora y sienta las bases de cómo la combinación de estas tecnologías pueden abordar el problema de la descentralización, ofreciendo además soluciones para la gestión transparente e interoperable de los datos. En primer lugar, se realiza un análisis del estado del arte de ambas tecnologías, definiendo las principales características de blockchain y la web semántica. Se analiza el potencial del blockchain para proporcionar la descentralización de la web y la inmutabilidad de los registros, así como se estudian las distintas tecnologías blockchain existentes, mientras que se analizan los principales estándares y características de la web semántica, como la interoperabilidad y la comprensión de los datos a través de ontologías y grafos de conocimiento. En segundo lugar, se realiza un análisis de los beneficios que surgen producto de la sinergia al combinar ambas tecnologías y se proponen diferentes prototipos de escenarios que integran blockchain con la web semántica. En tercer lugar, se realiza un análisis de los escenarios más prometedores y se realizan experimentos para evaluar la eficacia y rendimiento de los escenarios propuestos. En cuarto lugar, se desarrollan modelos ontológicos para cubrir la tecnología blockchain Ethereum y los contratos inteligentes. Por último, con estas ontologías se construyó un grafo de conocimiento para demostrar cómo la integración de estas tecnologías puede facilitar la gestión de datos y mejorar el análisis de la blockchain. En conclusión, este estudio sienta una base para alcanzar un Internet descentralizado, cuyos datos sean gestionados por los propios usuarios y esté basado en estándares. A pesar de los beneficios que se reflejan en esta tesis para alcanzar la descentralización de Internet, los resultados obtenidos indican que la integración de la tecnología blockchain con la web semántica es viable, pero tiene ciertas limitaciones que deben ser abordadas, como el coste de almacenar datos semánticos en blockchain.
This study aims to conceptualize a new theoretical framework for financial intermediation in response to the rise of Financial Technology (FinTech) and Decentralized Finance (DeFi), which have introduced structural and functional changes to the traditional role of banks. Classical intermediation theory, which emphasizes delegated monitoring, liquidity transformation, and maturity transformation, is increasingly insufficient to explain emerging hybrid and disintermediated financial systems. This research adopts a qualitative library-based method, using thematic literature analysis from peer-reviewed academic journals, institutional reports, and policy papers published between 2017 and 2025. The findings reveal that intermediation functions are no longer confined to traditional institutions; instead, they are distributed across smart contracts, decentralized protocols, and algorithmic platforms. A key novelty of this study lies in the articulation of “protocolised intermediation,” a concept that captures the convergence of centralized banking and decentralized architectures into hybrid financial models. The analysis also introduces a dual-axis framework to categorize intermediation based on levels of decentralization and functional transformation. Furthermore, the research synthesizes recent insights on risk governance, regulatory arbitrage, and digital trust, positioning them as critical variables in the theoretical evolution of intermediation. In conclusion, the study offers a reconceptualized understanding of intermediation theory, aligning it with the realities of the post-classical, algorithm-driven financial ecosystem. This contribution is expected to support further academic exploration and inform global financial policy debates.
The integration of artificial intelligence (AI) into smart contracts holds the potential to both enhance and exacerbate consumer protection challenges. Since the AI system embedded within the contract’s code enables a high degree of contractual personalisation – by tailoring the legal agreement to the unique characteristics of the targeted individual consumer, thanks to its capacity to process large amounts of personal and behavioural data in real time – it opens the door not only to scenarios of AI-powered consumer manipulation, but also to the promising opportunity of a consumer-centric AI. Such an AI would serve the consumer’s best interests by adapting the contract to their specific needs and preferences, while protecting them from – rather than exploiting – their information, cognitive, and digital vulnerabilities. This research aims to assess whether the EU legal framework – particularly the UCPD, UCTD, AI Act, GDPR, and DSA – adequately ensures that these technologies are designed and deployed with the consumer’s well-being at their core. The paper explores AI-related risks such as digital manipulation, personal data exploitation, and the black-box problem inherent in algorithmic opacity, while also addressing the liability challenge in cases of consumer harm. Ultimately, it seeks to answer whether AI-driven smart contracts can truly foster a high level of consumer protection in the AI era, by offering novel interpretations of the existing legal framework and advancing proposals for reform aligned with the fairness-by-design approach and informed by behavioural science insights.