This paper presents Polyquity, a Web2.5 platform enabling decentralized Initial Public Offering (IPO) fundraising through a hybrid data architecture. The platform leverages the Avalanche C-Chain for high-speed settlement, while utilizing a custom WebSocket indexer and PostgreSQL database to bridge the gap between blockchain security and institutional-grade user interfaces. By implementing a strict Role-Based Access Control (RBAC) model alongside modular architecture for auction mechanisms, fund escrow, and secondary market functions, Polyquity demonstrates how decentralized capital formation can achieve web2-equivalent performance while preserving core web3 security. The system utilizes the blockchain as the ultimate source of truth for state and funds, while the relational database serves as the source of speed for client-side rendering. Polyquity achieves sub-2-second transaction finality with 50% lower costs than Ethereum, supporting 10,000+ concurrent participants. This work establishes practical mechanisms for bridging traditional finance and decentralized ecosystems through a highly scalable, hybrid full-stack design.
Abstract:The pervasive integration of digital technologies has fundamentally redefined the operational paradigms of commerce, finance, and accounting. This paper explores the multidimensional impact of Digital Transformation (DT) across these interconnected sectors, focusing on the adoption and efficacy of Artificial Intelligence (AI), Robotic Process Automation (RPA), and Blockchain technology. Through a systematic qualitative review of recent literature and industry frameworks, this study examines how traditional financial workflows are evolving into automated, data-driven ecosystems. The findings indicate that while DT significantly enhances real-time reporting, fraud detection, and transactional efficiency, organizations face substantial barriers, including high implementation costs, data security vulnerabilities, and a growing digital skills gap. The paper concludes that successful digital transformation requires not only technological investment but also a strategic realignment of organizational culture and regulatory compliance frameworks. Future research trajectories emphasize the need for standardized continuous auditing protocols and scalable decentralized finance (DeFi) architectures.
The rapid advancement of blockchain technology has given rise to Decentralized Finance (DeFi), a financial ecosystem that operates without traditional intermediaries and challenges the foundational structures of conventional banking. DeFi platforms enable peer-to-peer financial services through smart contracts, offering increased transparency, accessibility, and efficiency. This study aims to analyze the potential of DeFi to disrupt traditional banking models by examining its core mechanisms, value propositions, and structural differences from centralized financial institutions. The research seeks to assess both the opportunities and challenges posed by DeFi in reshaping financial intermediation. A qualitative analytical approach was employed, drawing on an integrative review of peer-reviewed literature, industry reports, and documented DeFi case examples. Data were analyzed through thematic synthesis to compare DeFi functionalities with traditional banking operations, focusing on governance, risk management, and financial inclusion. The findings indicate that DeFi introduces innovative financial models that reduce transaction costs, expand access to financial services, and enhance operational transparency. The study concludes that DeFi represents a transformative yet complementary force rather than a complete replacement for traditional banking. Its future impact will depend on regulatory adaptation, technological maturity, and institutional integration.
Cryptocurrency has developed into a modern form of digital investment, largely supported by rapid technological growth, wider internet access, and the strong presence of social media. Although it has gained significant popularity in recent years, many investors still do not fully understand how it works, the risks involved, or whether it can remain stable in the long run.This study explores how individuals view and understand cryptocurrency as an investment option. It examines their level of knowledge, main sources of information, perception of risk, expectations of returns, and the influence of demographic factors such as age, education, and income on their investment decisions. The research is based on primary data collected through a structured survey, which helped capture real experiences, opinions, and concerns of participants.The study also seeks to understand whether people treat cryptocurrency mainly as a short-term speculative opportunity or consider it a long-term investment alternative. The findings reveal that social media platforms and peer groups play a major role in shaping investment decisions. At the same time, investors remain concerned about price volatility and the lack of clear regulatory guidelines, which continue to create uncertainty in the market.Keywords: technological growth,cryptocurrency,speculative.
Crowdfunding is an important mechanism for supporting innovative projects by connecting creators with distributed contributors. Prior research has identified persistent limitations in both traditional and blockchain-based crowdfunding platforms, including limited transparency, centralized control, passive contributor roles, and inflexible fund management processes. These limitations hinder accountability, equitable participation, and effective decision-making throughout the campaign lifecycle. This paper presents a blockchain-enabled crowdfunding framework designed as a decision-support artifact for adaptive fund allocation and participatory governance. The framework enables contributors to engage in spending-request governance through Quadratic Voting, which balances influence across heterogeneous financial stakes and mitigates dominance by large contributors. To support adaptive campaign management, the framework further integrates Ethereum smart contracts with a Markov Decision Process (MDP), enabling campaign-level decisions to respond to evolving contribution patterns and campaign states. The framework is implemented and evaluated through controlled experiments on the Sepolia Ethereum test network. The evaluation includes both an internal ablation of Quadratic Voting and MDP-based adaptive support and an external comparison against representative blockchain-based baselines. The results show that the combined Quadratic Voting and MDP design achieves lower approval latency and higher throughput than partial or static variants of the framework, and that the full proposed platform outperforms the compared baseline systems under increasing campaign workload. Overall, the study demonstrates how participatory governance, adaptive decision support, and transparent smart-contract execution can be systematically integrated into crowdfunding platforms, providing practical guidance for the design of scalable, efficient, and accountable decentralized crowdfunding systems.
Mohd Saleem, Sohrab, Matloob Ullah Khan, Faizan Khan Sherwani
Key components of blockchain technology, DeFi represent a revolutionary advance in digital contracts and automated trades, and they are integrated into decentralized networks such as Ethereum. These self-executing contracts eliminate the need for middlemen by autonomously enforcing specified terms. This paper offers a thorough analysis of Decentralized Finance (DeFi), smart contracts, covering their underlying theories, technological foundations, wide range of applications, and ramifications in context of financial inclusion and investment. In order to clarify the workings and practical applications of such innovations, the research technique comprises a methodical evaluation of the literature, an examination of case studies, and an amalgamation of empirical data. This study evaluates their effects on efficiency, transparency, and trust in international transactions by looking at how they are revolutionizing industries like finance, and decentralized governance. It also thoroughly examines security considerations, including best practices and vulnerabilities, as well as regulatory issues and new developments.
The global financial ecosystem is experiencing a paradigm shift with the integration of blockchain technology into stock trading platforms. This study explores the adoption patterns, benefits, challenges, and case evidence of blockchain implementation in financial markets worldwide. Blockchain, or Distributed Ledger Technology (DLT), offers decentralized, immutable, and transparent transaction recording, enabling enhanced efficiency, reduced settlement times, and minimized operational risks. Using a descriptive research approach, the study examines key case studies, notably the Nasdaq Linq initiative, which applied blockchain to private securities transactions to streamline recordkeeping, improve transparency, and reduce reconciliation efforts. Findings indicate that the blockchain enhances settlement speed, strengthens investor trust through transparency, and provides operational efficiencies while adoption is influenced by regulatory frameworks, technological maturity, and implementation costs. The study concludes that targeted, phased implementation, regulatory collaboration, and pilot projects are critical for sustainable adoption, of the highlighting blockchain’s transformative potential to redefine global stock trading infrastructures.
Muhammad Izzul Syahmi Zulkepli, Abdul Muneem, Mohd Shahid Mohd Noh, Mohammad Taqiuddin Mohamad · 5 authors
Smart contracts offer Islamic finance a new mechanism for executing transactions with greater transparency, efficiency and reduced Sharia non-compliance risk, yet their distinct technical features introduce Sharia challenges scholarly exploration. This paper aims to study the implementation of smart contracts from the Sharia Scholars’ perspective and to analyze its operational challenges as well as Sharia-related issues that arise from integration in the realm of Islamic finance. Using a qualitative approach, data was collected from credible sources such as books, journals, and relevant websites, with strict inclusion criteria. The analysis employed inductive reasoning and an explanatory research method to explore the application and issues surrounding smart contracts. The study finds that smart contracts hold great potential and are generally Sharia-compliant. However, technical aspects, such as contract terms, coding, execution, and protocol consensus require further research. It also stresses the importance of having a Sharia committee or advisor to ensure compliance in products and operations.
This study examines the transformation of property rights amid rapid digital innovation, focusing on how legal systems are adapting to address the inheritance of virtual assets alongside traditional physical property. The rise of digital assets, including cryptocurrencies, non-fungible tokens (NFTs), digital accounts, and online intellectual property, has created significant gaps in existing inheritance laws. Using doctrinal and comparative legal analysis, the study reviews national and international frameworks to identify inconsistencies, accountability deficits, and equity concerns. The findings reveal that most jurisdictions lack specific legislation governing digital inheritance, creating systemic disadvantages for heirs. The study concludes by recommending harmonized legal standards, mandatory digital estate-planning mechanisms, and proactive regulatory reforms to ensure equal inheritance rights regardless of asset type.
Bu çalışma, 2020–2025 yılları arasında DAO (Decentralized Autonomous Organizations) yapılarıyla ilgili literatürü incelemek amacıyla SCOPUS veri tabanından elde edilen 3.113 akademik çalışma üzerinde bibliyometrik analiz gerçekleştirmiştir. “decentralized autonomous organization”, “DAO”, “smart contract”, “on-chain governance” gibi anahtar kelimelerle yapılan tarama sonucunda, literatürün blockchain ve akıllı sözleşmeler temelli teknik altyapı etrafında yoğunlaştığı; buna karşılık yönetişim modelleri, token ekonomisi, oylama süreçleri, güvenlik, veri gizliliği ve hukuki statü gibi konuların araştırmalarda öne çıktığı belirlenmiştir. Bulgular, DAO çalışmalarının çok disiplinli bir yapıya sahip olduğunu, ülke ve kurum bazlı yayın yoğunluklarının küresel olarak hızla arttığını ve kavramsal çeşitliliğin yüksek seviyede olduğunu göstermektedir. Analizler, DAO’ların yönetişim ve denetim açısından standartlaşmamış, teknik olarak karmaşık ve hukuken belirsiz bir yapı sergilediğini; bu nedenle geleneksel finansal denetim modelleriyle uyum sorunlarının bulunduğunu ortaya koymaktadır. Sonuç olarak, DAO ekosisteminin sürdürülebilir ve denetlenebilir bir yapıya kavuşması için yönetişim protokollerinin netleşmesi, teknik güvenlik standartlarının geliştirilmesi ve hukuki çerçevelerin güçlendirilmesi gerekmektedir.
Ignat Melnikov, Roman Vlasov, Vladimir Gorgadze, Andrey Seoev · 5 authors
Decentralized Finance (DeFi) is a rapidly evolving segment of blockchain technology that enables a transformative approach to financial services through Web3 applications. By leveraging smart contracts, DeFi allows developers to build flexible and innovative financial instruments. Among the most prominent DeFi primitives by liquidity are decentralized exchange~(DEX) swap protocols~(such as Uniswap, Curve, and Balancer) that facilitate fast token-to-token exchanges. However, new exchange mechanisms also introduce new market inefficiencies that can be systematically exploited by arbitrageurs. This paper focuses on swap protocols based on the Automated Market Maker~(AMM), where the product of reserves is preserved as an invariant. We analyze the interaction between arbitrageurs and AMM liquidity pools and develop a mathematical model grounded in empirical pool configurations. Using this model, we derive bounds on the joint revenue of liquidity providers~(LPs) and arbitrageurs, propose a method to estimate the expected number of blocks until the occurrence of Impermanent Loss~(IL), and obtain a lower bound on the pool fee required to achieve a fixed target probability of staying in the Impermanent Gain (IG) zone within a block. The proposed framework extends existing LP risk-assessment methodologies by quantifying symbiotic profitability zones, providing a principled basis for fee selection that aligns LP-arbitrageur incentives and enhances market stability.
Vabuk Pahari, B. Chandrasekaran, Johnnatan Messias, Krishna P. Gummadi · 5 authors
A decentralized autonomous organization (DAO) is a governing entity that empowers its stakeholders (i.e., users who hold one or more of its tokens) to manage blockchain-based protocols (i.e., smart contracts) collaboratively. The governance of a DAO is explicitly encoded in the DAO's governance contract, which defines how stakeholders participate in governance and how much influence (or voting power) they have in any decision. While decentralization and autonomy are the fundamental tenets of a DAO's design, empirical evidence suggests that in practice governance is often highly centralized. In this work, we study the designs and implementations of 48 public and actively used DAOs, with substantially large capital, deployed on Ethereum. We identify how three key governance mechanisms--token registration, staking, and delegation--originally introduced to improve security or participation, contribute to the concentration of voting power. Unlike prior work on centralization of voting power in specific DAOs, our findings reveal that these governance mechanisms of DAOs themselves systematically reinforce centralization. By elucidating the relationship between governance design and voting centralization, this work advances the understanding of DAO governance structures and highlights the inherent trade-offs between decentralization, security, and usability of DAOs.
Maimunatu Ya'u Ibrahim, Kabiru Ibrahim Musa, Aminu Ahmad, Muhammad Tella
This study develops and evaluates a blockchain–IoT framework for enhancing digital banking security, with a focus on the Nigerian financial ecosystem. Unlike prior works that apply blockchain in generic contexts, this research addresses unique challenges facing developing economies, including weak authentication mechanisms, insider fraud, and systemic vulnerabilities in centralized infrastructures. The framework integrates IoT-based payment processes with blockchain protocols to deliver tamper-proof, real-time transactions, supported by lightweight consensus. Implemented in Python and tested under simulated banking conditions, the model demonstrates stable one-second block intervals, simulated peak throughput exceeding 237,000 transactions per second under controlled execution conditions, and robust handling of diverse transaction values. A comparative evaluation of Proof of Authority (PoA), Proof of Stake (PoS), and Practical Byzantine Fault Tolerance (PBFT) confirms PoA as the most practical for IoT-enabled banking in Nigeria, balancing scalability, energy efficiency, and real-time validation. By situating blockchain within Africa’s digital economy and providing a context-sensitive consensus analysis, this study advances both the theoretical and applied understanding of secure, decentralized payment infrastructures. The findings lay the groundwork for real-world deployment of blockchain-based solutions to strengthen digital banking security and financial inclusion in emerging markets.
ABSTRACT Forgery of academic and professional certificates remains a major concern across institutions. Traditional centralized systems are prone to manipulation and single points of failure. This work presents a blockchain-based certificate issuance and verification platform developed using Spring Boot and the Ethereum Sepolia test network. The system supports multiple organizations where issuers register and are approved by an administrator before generating certificates. Each certificate is assigned a unique identifier, and a SHA-256 hash of its data is stored on the blockchain through smart contracts. The platform also automates PDF certificate creation with embedded QR codes and sends them via email. Additional features include bulk certificate generation, revocation support, and public verification without requiring a blockchain wallet. Experimental observations indicate an average issuance time of around 4 seconds and verification within 1.5 seconds. Keywords: Blockchain, Ethereum, Smart Contracts, SHA-256, Certificate Verification, Spring Boot, Web3j, PDF Automation
Leeladhar Chourasiya, Mr. Anand Jawdekar, Mr. Sanjay Patsariya, Ms. Aparajita Biswal · 7 authors
The blistering development of the decentralized technologies is transforming the conceptual and functional limits of the contemporary digital ecosystems. One of such innovations is blockchain, which is being presented as a core infrastructure of facilitating autonomous, trustless, and self-organizing systems, which has also been emphasized in recent academic conversations. The paper will examine how blockchain will be used to lay the foundations of autonomous societies where governance, economic dealings and social interactions will be implemented in the absence of a centralized force. The suggested framework is based on decentralized ledger technology, smart contracts, consensus mechanism, in order to promote transparency, security, and accountability on digital communities. The paper highlights the role of blockchain platforms (especially Ethereum-style architectures) in the development of decentralized autonomous organizations (DAOs) that serve as building blocks to bigger social organizations. Identity management, decentralized models of governance, token-based economies, and trustless interactions are some of the critical components that are analyzed. Moreover, the paper also looks at how emerging technologies such as artificial intelligence and distributed storage systems can be integrated to make autonomous environments more scalable, adaptable, and make decisions. Issues concerning scalability, regulatory limitations, interoperability, and ethical aspects are also presented and possible solutions and future research areas specified. The results indicate that blockchain infrastructure has the capacity to reinvent the social structure and provide decentralized, robust, and participative digital economies. The article is a contribution to the existing literature on next-generation sociotechnical systems and a strategic roadmap of fully autonomous digital societies development.
Currently blockchain platforms are not capable of managing sufficient transactions per second. And the gas fees? They make most real world scenarios essentially infeasible. We built Ledgerlink Both these bottlenecks can be linked together, using Ethereum. smart contracts with Arbitrum’s Layer-2 rollup mechanism. Hashing coupled with cryptography and consensus engine (supports both). PoW and POS) eliminate changes in the data. L2 part provides throughput of the order of 10x that of mainnet. you, gas prices are less than 90% lower. Tech stack wise – Solidity. TypeScript, Express, and Next.js TypeScript, optimally backend with express, next as a whole. Frontend tailwind. Simulated load tests were carried out. Enterprise-grade volumes, which promote volumes, are. and can be accomplished without the latency and cost nightmares that you will normally. see on Layer-1. In the present paper we are going to walk through our architecture, the decisions that we made on the way (some good, some we’d) re- consider, and the benchmarking deliverables.
Kunal Kumar, Mohammad Malik, Gujju Koushik, Nujetti Abinandhan
The evolution of blockchain technology has introduced innovative approaches for managing digital assets and transforming fundraising models through Non-Fungible Tokens (NFTs). However, many existing charity platforms continue to operate on centralized systems that restrict transparency, limit accountability, and fail to provide donors with verifiable proof of their contributions. In such systems, donors often have minimal visibility into fund utilization, and there is no direct linkage between their contributions and any traceable digital asset. Moreover, traditional charity and auction mechanisms rely heavily on intermediaries for transaction validation, data management, and operational control, making them susceptible to data manipulation, reduced auditability, and diminished user trust, while also lacking mechanisms to encourage active participation. To address these limitations, this research proposes a decentralized charity auction framework that integrates Blockchain technology with NFTs to ensure secure, transparent, and verifiable transactions. The system is developed using the Django Web Framework and leverages Web3 Technology along with Smart Contracts to automate and manage auction processes. Each auction item is uniquely tokenized as an NFT, guaranteeing authenticity and non-replicability. Users can register as donors or auction organizers, create NFTbased auctions, and participate through bidding or direct contributions. All transactions are permanently recorded on the blockchain, and NFT ownership is automatically transferred to the highest bidder or contributor, serving as a verifiable digital proof of participation. By removing intermediaries and ensuring immutable record-keeping, the system enhances trust, strengthens security, and introduces an incentive-driven participation model, thereby improving transparency, accountability, and efficiency in modern charity and fundraising ecosystems.
Awqaf (Islamic endowments) historically functioned as decentralized institutions financing education, healthcare, infrastructure, and social welfare across the Muslim world. Grounded in the principles of perpetuity and inalienability, they transformed private wealth into sustainable public goods, as highlighted by Monzer Kahf and Murat Çizakça, while also facing institutional rigidity concerns raised by Timur Kuran.This paper examines the evolution of Awqaf from classical asset-based models to innovative structures such as cash waqf, waqf sukuk, corporate waqf, and intellectual property waqf. It proposes the Integrated Digital Awqaf Ecosystem (IDAE) Framework to explain how digitalization enhances governance, transparency, financial integration, and socio-economic impact. The study concludes that digitally integrated Awqaf can become strategic pillars of sustainable development in contemporary Muslim economies.
Muxtorov Maqsudbek Sherzodbek o'g'li Almardanov Samariddin Abdixoliq o'g'li
This paper examines the comprehensive impact of digital transformation on the finance and accounting sectors. With rapid advancements in cloud computing, artificial intelligence, blockchain technology, and automation tools, traditional paradigms of financial reporting, auditing, and managerial accounting are being fundamentally redefined. The study analyzes how digital technologies enhance accuracy, efficiency, transparency, and scalability of financial operations across organizations of various sizes and industries. The findings demonstrate that digital transformation facilitates real-time financial reporting, automated bookkeeping, predictive financial analytics, fraud detection systems, and data-driven strategic decision-making through robotic process automation (RPA), machine learning, big data analytics, and distributed ledger technologies. The paper concludes with policy recommendations and organizational guidelines for effective and responsible digital transformation in financial management, emphasizing human oversight, continuous upskilling, and regulatory alignment.
The rapid collapse of decentralized game economies, often characterized by the \textit{death spiral,} remains the most formidable barrier to the mass adoption of Web3 gaming. This paper proposes that the sustainability of an open game economy is predicated on three necessary and sufficient conditions: Anti-Sybil Resilience, Anti-Capital Dominance, and Anti-Inflationary Saturation. The first section establishes a theoretical proof of these conditions, arguing that the absence of any single dimension leads to systemic failure. The second section explores the dialectical relationship between these dimensions, illustrating how unchecked automation and capital-driven monopolies accelerate asset hyperinflation. In the third section, we introduce the Identity-Bound Asset Integrity Model (IBAIM) as a comprehensive technical solution. IBAIM utilizes Zero-Knowledge (ZK) biometric hashing and Account Abstraction (AA) to anchor asset utility to unique human identities through a privacy-preserving and regulatory-compliant architecture. By exogenizing biometric verification to trusted local environments and utilizing Zero-Knowledge Proofs of Identity (zk-PoI), the model ensures absolute user privacy. Furthermore, by implementing an Asymmetric Utility Decay (AUD) engine-whereby assets suffer a vertical 50% utility cliff upon secondary transfer-and an entropy-driven thermodynamic degradation mechanism., the model successfully decouples financial speculation from in-game merit. Finally, we apply this framework to analyze prominent historical failures in the GameFi sector, demonstrating that their collapse was an inevitable consequence of violating these core economic constraints. Our findings suggest that trading a degree of asset liquidity for system integrity is the only viable path toward long-term economic viability in decentralized virtual worlds.
This research examines the structural and paradigmatic mutation of the internal audit function in the face of the massive integration of distributed ledger technologies (Blockchain) and cognitive artificial intelligence (AI). Through an in-depth empirical analysis conducted on a targeted sample of n=156 decision-making professionals in the financial sector, this article highlights the legitimacy crisis currently faced by traditional control bodies, which are now confronted with the intrinsic opacity of automated systems. The quantitative results demonstrate that the obsolescence of auditors' technical skills is no longer merely an operational lag, but constitutes a direct systemic threat to bank governance and risk management. Drawing on continuous auditing and agency theories, this study conceptualizes and advocates for a radical hybridization of skills, coupled with an architectural overhaul of control frameworks, as a sine qua non condition to ensure the sustainability and ethics of institutions in an irreversible dematerialized financial ecosystem.
The article is devoted to the development of a hybrid strategy for the innovative growth of the Ukrainian neobank Monobank through the integration of cryptocurrency services in the context of the draft law on cryptocurrency legalization under consideration in the Verkhovna Rada. The relevance of the study is determined by the need to diversify neobanks’ income sources amid market saturation and regulatory changes in the field of digital assets. The classification of Monobank as a neobank is substantiated according to the criteria of the European Banking Authority: a fully digital model without physical branches, a client-centric business model, its own technological platform, and a methodology for rapid product development. A SWOT analysis of the bank’s competitive position revealed an imbalance between opportunities and threats under martial law, cyber risks, and regulatory uncertainty. A comparative analysis of the crypto-strategies of international neobanks Revolut and Nubank confirmed the advantages of the intermediary role over issuing a proprietary token. Revolut’s success is based on phased integration and obtaining regulatory licenses, while Nubank’s failure with its own token demonstrates the risks of hasty decisions without a clear regulatory strategy. The concept of the Monobank Crypto Hub has been developed with a three-phase implementation: the first stage focuses on basic functionality with mandatory transaction limits and an educational module to minimize reputational risks; the second stage provides for expanded functionality through staking and premium subscription; the third stage includes a full ecosystem with crypto-deposits and integrations with decentralized finance protocols. Financial modeling demonstrates a gradual achievement of break-even with emphasis on managing operational and reputational risks. The practical value of the study lies in the formation of a concrete roadmap for crypto-integration for Ukrainian fintech companies.
The overarching aim of this cumulative dissertation is to provide theoretical grounding and empirically informed design knowledge on (1) how blockchain can modernize intellectual property lifecycle management, (2) how decentralized autonomous organizations (DAOs) can unlock their full potential as an emerging governance form, and (3) how generative AI chatbots can provide reliable assistance in trust-sensitive and high-stakes contexts such as decentralized finance (DeFi) and academia. Motivated by growing frictions of digital markets—particularly in protecting and remunerating creative outputs and innovations—the dissertation consolidates research and develops transferable concepts for institutionally grounded, trustworthy digital systems. To attain the overarching research objective, this cumulative dissertation reports on six peer-reviewed research contributions embedded in a unifying socio-technical framework. The research contributions draw on systematic literature reviews, qualitative empirical studies (including case study and expert interviews), and design science research with mockup instantiations, addressing descriptive and prescriptive research questions in the field of information systems.
Héritier Kayembe Mpiana, Eugene mukendi Mbuyi, Jean Didier Mwambanzambi Batubenga, Pierre Motumbe Kasengedia
This paper proposes the design and evaluation of a secure electronic payment system based on the Ethereum blockchain, applied to the payment of academic fees. The objective is to enhance transparency, security, and automation of financial transactions within higher education institutions. The methodology relies on developing a prototype using smart contracts, tested on Ethereum testnets. Experimental results show that the system reduces processing times and improves transaction traceability [1]. The integration of Layer 2 solutions and stablecoins also helps reduce transaction costs and improve scalability. However, challenges remain, particularly regarding regulation and user accessibility. As a decentralized and programmable platform, Ethereum represents a major innovation capable of transforming traditional payment systems. The emergence of Ethereum-based academic fee payment systems is part of an accelerated digital transformation and the search for alternatives to conventional financial infrastructures. Since the introduction of Bitcoin, the global financial system has undergone a profound shift, marked by the adoption of decentralized technologies [3]. This study required an in-depth technical understanding of the Ethereum blockchain, along with critical, economic, and regulatory analyses [5].