Abstract Internet of Things (IoT)âbased financial systems leverage the capabilities of blockchain and artificial intelligence (AI) to enable seamless transactions and data exchange between devices. IoTâbased financial systems involve interconnected devices and services, such as payment terminals, wearables, and smart appliances, which collect, transmit, and process sensitive financial information. The study explores security methods incorporated in the financial systems designed using IoT and blockchain technologies to improve the background features. The study data were gathered from Complaint Data from the Consumer Financial Protection Bureau 2018â2022, and dataâbased analysis is used in this study for detecting illegitimate interrupted transactions. Propensity Score Matching (PSM) is used for the robustness and endogeneity test; descriptive statistics is utilized in this study. Financial security systems are introduced to reduce the forging and breaching of intruders amid transactions. This study offers a novel contribution to the field of blockchain technology by furnishing a comprehensive analysis of the features of IoTâbased financial security systems from the perspective of the transaction, broadening the understanding of the feature focusing on financial security, and providing practical recommendations to address the features of IoTâbased financial security systems in blockchain technology. The study highlights how IoT devices can securely record and verify financial transactions by leveraging the blockchain's distributed ledger, preventing tampering or unauthorized access. The results of the study identify that the TS3 program relies on the transaction gaps between financial sessions, security requests between successive transactions, and sessions saved depending on the time delay. The study finds that sessions were analyzed for violations and fraud using information stored on the blockchain. The study suggests the design and building of devices and sensors in an IoT in financial security systems. Transparency should contribute to setting data privacy and safety problems in financial security systems.
Background: Rapid advancements in Distributed Ledger Technology (DLT), including blockchain, are foundational to a new era of digital innovation. This innovation has catalyzed the emergence of ‘Decentralized Science (DeSci),’ a new concept and movement that aims to address the challenges of modern science. Objective: Given the novelty of the field of DeSci, this study aims to provide a comprehensive definition of the term as well as explore and conceptualize shared values and guiding principles inherent to DeSci. Methods: In line with the objectives of this study, an exploratory literature review was conducted to identify and synthesize the scholarly and secondary literature. The search and selection process included six databases (PubMed, Google Scholar, Web of Science, IEEE Xplore, arXiv, and Social Science Research Network), and the search period was limited to the last 15 years, from 2008 to 2023. To identify relevant secondary literature, such as articles, reports, blog posts, and website content, a keyword search was conducted in three search engines (Google.com, Bing.com, and Yahoo.com). Owing to the novelty of the concept and movement of DeSci, the exploratory literature review was supplemented by an anonymous online-based expert survey using a combination of single-choice and open-ended questions. The experts were selected based on predefined inclusion criteria, in association with their activities in the field of DeSci. The responses to the single-choice questions were subject to statistical analysis, whereas the open-ended questions were analyzed using qualitative content analysis. Results: Seven studies were selected for evaluation as part of the search and selection process to identify relevant scholarly literature. Following the review of secondary literature, additional 24 publications were included in the analysis. In the expert survey, 39 valid datasets were collected and analyzed. Following the synthesis of the results of the exploratory literature review and expert survey, a comprehensive definition of the term ‘Decentralized Science’ (DeSci) was formulated to reflect recurring themes. As no publications that explicitly discussed or addressed the values or principles of DeSci in the exploratory literature review could be identified, a set of shared values and guiding principles for DeSci were defined based on the results of the expert survey. Conclusion: The results of this study underscore the emerging nature of DeSci, as evidenced by the limited availability of relevant information and scarcity of academic publications. While this study proposes a comprehensive definition of DeSci as well as a set of shared values and guiding principles, the results of this study highlight the importance of ongoing evaluation and validation. Furthermore, the results of this study indicate a clear need for future research in the field of DeSci, emphasizing its dynamic and developing nature.
The emergence of decentralized autonomous organizations (DAOs) represents a paradigm shift in the organizational structure enabled by distributed digital ledger technologies such as blockchain. Exclusively digital web-based entities, DAOs function independently through blockchain-based smart contracts that rely on distributed governance, community coordination, and incentive mechanisms rather than top-down hierarchies. As DAOs continue to foster an environment conducive to a new class of digital participants, they are becoming increasingly prominent in the digital cryptocurrency economy, raising questions regarding their structure, sustainability, and adoption. Being collectively owned and managed by their members, DAOs exhibit characteristics of both non-zero and zero-sum dynamics, thereby posing a challenge to conventional centralized and hierarchical management models. This mixed-methods study examines DAOs within modern information ecosystems through a literature review, blockchain analysis, and comparative organizational analysis. The literature review synthesizes academic discourse on DAOs, highlighting key theories, such as decentralization, digital governance, and distributed decision-making. Blockchain analysis of 10 leading DAOs provides engagement and activity metrics. Comparative analysis considers the DAOsâ advantages and challenges in relation to traditional centralized organizations, focusing on aspects such as governance, efficiency, and adaptability. The findings reveal DAOs' innovative potential and adoption barriers, such as reliance on token incentives and difficulties with coordinated decision-making due to reasons like concentration of voting power and others. Although DAOs possess advantages in terms of decentralization, community alignment, and transparent algorithmic execution, traditional organizations currently maintain superiority in terms of stability and legal standing. This study provides an interdisciplinary academic perspective on the concept and implementation of the DAO by combining conceptual understanding, empirical blockchain evidence, and comparative analysis. It is concluded that realizing the transformative potential of DAOs requires synthesizing multidisciplinary insights and overcoming substantive adoption hurdles. The proposed framework serves as a foundation for further research on the evolution and integration of DAOs into organizations of the future.
The development of technology has brought multiple changes in the economy, one of them being how people purchase goods and services. Technology has improved online business and how payments are made through digital means. Initially, people used to make payments using their credit cards, but the invention of digital currency has eased the transaction process. Cryptocurrency has emerged as the newest way for people use to make transactions. The majority prefers cryptocurrency since it is faster and does not require intermediaries like the traditional mode of payment. However, various issues have emerged that may influence its development. Security issues and scamming have become rampant, which has discouraged investors. In addition, cryptocurrency experiences huge volatility, which may discourage people from investing since failure to have previous data may made the investors fail to predict the prices. Fraud and the presence of scammers have discouraged people from investing since they fear losing their fortune from these individuals. The continuous adoption of cryptocurrency has made the organisation invest in cryptocurrency to diversify its portfolio risks.
The convergence of Non-Fungible Tokens (NFTs) and Artificial Intelligence (AI) has catalyzed a revolutionary transformation within the gaming industry. NFTs have emerged as a game-changer by endowing players with authentic ownership of in-game assets, unlocking unbridled creative potential, and nurturing player-centric economies. Simultaneously, AI has taken gaming experiences to unparalleled heights, seamlessly tailoring gameplay to individual preferences, ushering in stunning graphics realism, and providing in-depth analytical insights. However, this dynamic union is not without its challenges. Market volatility within the NFT space demands careful consideration to ensure both players and developers navigate this nascent terrain judiciously. Ensuring fairness in NFT-driven gaming ecosystems is imperative to maintain gameplay balance and overall player satisfaction. Additionally, concerns about the environmental sustainability of blockchain technologies, often underpinning NFTs, must be addressed through innovative, eco-friendly solutions. As the gaming industry continues its inexorable march forward, the synergy between NFTs and AI holds the promise of fundamentally redefining player engagement, innovation, and immersion. Players find themselves in worlds crafted precisely to their desires, where their virtual possessions hold tangible real-world value. Yet, it is essential for stakeholders to deftly navigate the evolving landscape, embracing the multitude of opportunities and complexities that shape the future of gaming. This fusion of NFTs and AI marks a watershed moment, poised to reshape the gaming landscape profoundly and usher in an era of unprecedented possibilities.
Hilda Hadan, Leah Zhang-Kennedy, Lennart E. Nacke, Ville Mäkelä
Introduction In recent years, cryptocurrency has increasingly sparked interest among investors. Many people have invested in this field without adequate knowledge. Existing research has shown that using game design elements can be an effective method of education. Such learning interventions can potentially be a good match for educating market investors, as they provide risk-free simulations for novice investors to gain practical experience without having to be concerned about real financial losses. However, it is unclear how market investors perceive gamified and game-based learning interventions and whether they would adopt them for cryptocurrency education. Research Objectives Our study investigated market investorsâ perceptions, needs and expectations regarding the integration of gamification and game-based learning interventions in cryptocurrency education. Methodology We conducted an online survey with n=413 participants, including experienced market investors and people who are interested in cryptocurrency. Within the survey, we presented the mock-ups of two cryptocurrency learning interventions: a gamified cryptocurrency learning application, and a cryptocurrency learning video game. Results From market investorsâ perspectives, our study revealed the benefits and drawbacks of incorporating gamification and game design principles to facilitate learning cryptocurrency. We identified the need to develop dynamic, accessible, reliable, and community-building gamified and game-based cryptocurrency learning interventions. Conclusion From our findings, we propose guidance for the integration of gamification and games in cryptocurrency education, and we provide design recommendations for investor-specific cryptocurrency learning interventions.
Dmitry Mikhaylov, Abdulla Shafeeg, Ilman Shazhaev, Arbi Tularov
The idea of DAO development is a novel and radical solution to the constant centralization of power and financial capabilities of the world community. Unlike decentralized finance (DeFi) in general, which uses blockchain to replace trusted third parties in banking, lending, investing, and other financial transactions, DAOs use technology to transfer some or all decision-making power from organizations to individuals using a code for setting guidelines, namely how decisions are made and implemented. Investors place their digital assets in liquidity pools using code-driven smart contracts without the need for an intermediary to ensure that all parties meet their obligations. In exchange for their investment, investors receive a token that allows them to participate in the centralized management of the pool, including the ability to vote to choose which beneficiaries receive a portion of the income that becomes a donation and set parameters for smart contracts. And although this scheme, in addition to advantages, has disadvantages, the idea of DAO continues to develop. At the moment, this development is limited only to the digital environment. Yet, the perspective is impressive.
Cryptocurrency, a form of digital currency, has emerged as a disruptive force in the financial landscape. Built on the the historical context and key milestones in the development of cryptocurrencies, highlighting the release of Bit coin as the pioneering cryptocurrency. It explores the underlying technology of block chain, elucidating its decentralized nature and cryptographic security features that enable trust and accountability in transactions. Overall, this abstract offers foundations of block chain technology, cryptocurrencies offer decentralized, secure, and transparent transactions, challenging the traditional centralized financial systems. This abstract presents a comprehensive analysis of the evolution, functioning, and implications of cryptocurrencies. The study begins by examining a comprehensive overview of cryptocurrencies, providing insights into their technological foundations, economic implications, and potential future developments. It aims to contribute to the understanding of this transformative digital currency revolution and its impact on global finance and economics
The increasing complexity of identity verification in U.S. banking and fintech ecosystems has highlighted thelimitations of traditional centralized Know Your Customer (KYC) processes, which often involve redundantdata collection, slow onboarding, and increased risk of data breaches. This study explores the design andimplementation of a Decentralized Identity (DID) architecture to enable secure, privacy-preserving, and usercentric KYC. By leveraging self-sovereign identity (SSI) principles, verifiable credentials (VCs), andcryptographic proofs, the proposed framework allows individuals to control their identity data while banks,fintechs, and regulatory authorities can authenticate users efficiently and compliantly. The architectureintegrates permissioned networks, identity wallets, credential issuers, and verifier nodes, supportinginteroperability with existing financial systems. Security, privacy, and regulatory complianceâincluding AML,FinCEN, and OFAC requirementsâare embedded through robust cryptography, zero-knowledge proofs, andselective disclosure mechanisms. The study concludes that DID-enabled KYC can streamline onboarding,reduce operational costs, enhance user privacy, and strengthen overall financial ecosystem trust, providing aviable path for next-generation identity verification in U.S. banking and fintech.
Die Entstehung von Kryptowährungen wie dem Bitcoin hat die Finanzwelt nach der Krise 2007ff. gehĂśrig in Aufruhr versetzt. Einzelne Stimmen sprechen gar von der MĂśglichkeit der Abschaffung des Bargeldes. Dieser Beitrag zeigt erstens, ob und inwieweit Kryptowährungen das Bargeld tatsächlich verdrängen kĂśnnen, zweitens, inwieweit sie unbare Zahlungssysteme verändern werden, und drittens, welche HĂźrden es auf dem Weg zu einer breiteren Akzeptanz zu Ăźberwinden gilt. Vorab wird die Reaktion des Finanzsektors auf das vielschichtige Phänomen der Distributed Ledger Technology (âBlockchainâ) beleuchtet.
Crypto asset is a broad term covering all assets stored on distributed ledgers using block chain technology. Crypto assets are used to undertake commercial transactions and serve as investment options globally; yet there are no specific accounting standards that guide how crypto assets should be recorded in financial statements. There are few studies that address the issue of accounting treatment of crypto assets. The lack of literature has resulted in the need to investigate the views of professional accountants on how crypto assets should be reflected in financial statements. The research relied on primary data and adopted an expert sampling technique which is a form of judgmental sampling technique. The data was collected using questionnaire surveys to get the views of sixty-four professional accountants in Nigeria. The study attempts to contribute to the existing literature on crypto assets by providing a practical insight into the accounting treatment of crypto assets. The compliance of crypto assets having the features of assets in accounting was established by this study. According to the respondentsâ crypto assets can be classified in various forms of assets like intangible assets, cash and cash equivalent, inventory, and financial instrument. Also, crypto assets can be classified as short-term assets or long-term assets. This is because of the accounting concept of substance over form that requires that the economic substance of transactions and events are decisive for the recognition and measurement of transactions in financial statements. The study concluded that crypto assets have an impact on financial statements of entities that hold the assets. The study recommends that there is need for standalone standards specifically for crypto assets to avoid the discretionary judgment current relied upon. There is also the need for the regulation of crypto assets in general.
Il lavoro ricostruisce i profili tecnici della blockchain, degli Smart Contracts e degli NFTs quali mattoncini di base per lo sviluppo di nuove forme di commercio e le crittomonete, visto che rappresentano lo strumento di supporto di questi nuovi modelli di business.La natura decentralizzata delle Blockchain permetterĂ di produrre e negoziare nuovi contenuti digitali attraverso transazioni trasparenti e tracciabili senza la necessitĂ di coinvolgere intermediari.Per questo si sottolinea come gli utenti che sapranno cogliere le nuove opportunitĂ legate alla finanza decentralizzata (DeFi), al metaverso e alle nuove tecnologie avranno un vantaggio competitivo nell'evoluzione del World Wide.The work reconstructs the technical profiles of Blockchain, Smart Contracts and NFTs as essential building blocks for developing new forms of commerce and cryptocurrencies, representing the fundamental tool to support these new business models.The decentralized nature of Blockchains will allow new digital content to be produced and traded through transparent and traceable transactions without the need to involve intermediaries.For this reason, it is underlined that users who can seize the new opportunities linked to decentralized finance (DeFi), the Metaverse and new technologies will have an essential competitive advantage in the evolution of the World Wide Web.Sommario: 1. Introduzione alla blockchain -1.1 Struttura della blockchain -1.2 Protocolli di consenso -1.3.Sicurezza della blockchain -2.Web 3.0, Wallets e Smart Contracts -3.Assets digitali e NFTs -4.Conclusioni
The emergence of the Non-Fungible Token (NFT) was driven by the transformation of the digital world. NFT is now an investment option for the majority of investors. NFT is a digital asset that defines original artworks, such as a painting, drawing, piece of music, or in-game item, and is maintained in a blockchain-based ledger where the purchasing and selling process is conducted using cryptocurrency. As a form of copyright protection, the presence of NFT as a digital asset is fraught with complications. Digitizing an artwork that is subsequently converted to NFT infringes the original creator's copyright since someone may produce a digital version of another's work without their consent. The existing laws and regulations are yet to govern the ownership of NFTs that infringe the copyrights of others; thus, a solution is required, one of which is by the use of smart contracts. This is normative-juridical research, namely study undertaken by reviewing library resources or secondary sources. This study came into the conclusion that with the present state of technology, smart contracts cannot identify Copyright mistakes that are translated to NFT. Through human intervention, the blockchain network requires the addition of new applications.Keywords: Non-Fungible Token, Copyright, Smart Contract
Abstract Technologies of self-sovereign identity (SSI) and Web3 tools that strongly protect individual autonomy, combined with the ethics of Asian altruism, can effectively guide the governance of the emerging cyber civilization. In contrast, governance in Western industrial civilization stresses the pursuit of individual self-interest and struggles to balance the benefits of big tech with the protection of individual dignity and the preservation of the common good. We demonstrate, with reference to a local community in Japan, that SSI is successful in encouraging communal collaboration and well-being while providing individuals with greater control over their personal data. We also show that Web3 tools provide incentives for altruistic behaviors while safeguarding SSI. Integration of SSI and social protection demonstrates the potential for building an information society grounded in altruistic values, honoring individual dignity, and recognizing the governmentâs role in protecting social welfare. Ultimately, this research unveils how altruistic values can be fostered through SSI and Web3.
Marjan Alirezaie, William Hoffman, Paria Zabihi, Hossein Rahnama ¡ 5 authors
The complexities arising from disparate data sources, conflicting contracts, residency requirements, and the demand for multiple AI models in trade finance supply chains have hindered small and medium-sized enterprises (SMEs) with limited resources from harnessing the benefits of artificial intelligence (AI) capabilities, which could otherwise enhance their business efficiency and predictability. This paper introduces a decentralized AI orchestration framework that prioritizes transparency and explainability, offering valuable insights to funders, such as banks, and aiding them in overcoming the challenges associated with assessing SMEsâ financial credibility. By utilizing an orchestration technique involving symbolic reasoners, language models, and data-driven predictive tools, the framework empowers funders to make more informed decisions regarding cash flow prediction, finance rate optimization, and ecosystem risk assessment, ultimately facilitating improved access to pre-shipment trade finance for SMEs and enhancing overall supply chain operations.
Purpose Blockchain is a disruptive technology that has matured to deliver robust, global, IT systems, yet adoption lags predictions. The authors explore barriers to adoption in the context of a global challenge with multiple stakeholders: integration of carbon markets. Going beyond the dominant economic-rationalistic paradigm of information system (IS) innovation adoption, the authors reduce pro-innovation bias and broaden inter-organizational scope by using technological frames theory to capture the cognitive framing of the challenges perceived within the worldâs largest carbon emitter: China. Design/methodology/approach Semi-structured interviews with 15 key experts representing three communities in Chinaâs carbon markets: IT experts in carbon markets; carbon market experts with conceptual knowledge of blockchain and carbon market experts with practical blockchain experience. Findings Perceived technical challenges were found to be the least significant in explaining adoption. Significant challenges in five areas: social, political legal and policy (PLP), data, organizational and managerial (OM) and economic, with PLP and OM given most weight. Mapping to frames developed to encompass these challenges: nature of technology, strategic use of technology and technology readiness resolved frame incongruence that, in the case explored, did not lead to rejection of blockchain, but a decision to defer investment, increase the scope of analysis and delay the adoption decision. Originality/value Increases scope and resolution of IS adoption research. Technological frames theory moves from predominant economic-rational models to a social cognitive perspective. Broadens understanding of blockchain adoption in a context combining the worldâs most carbon emissions with ownership of most blockchain patents, detailing socio-technical challenges and delivering practical guidance for policymakers and practitioners.
Laila Abd El-Fatah, Mohamed Abouhawwash, Mohammed Jameel
This paper explores the intricate relationship between sustainable business practices and blockchain-assisted financial cryptocurrency strategies in the contemporary global landscape. Recognizing the dynamic nature of the business environment, the study addresses the imperative to unravel the impact of technology on sustainability metrics. Employing a robust methodology involving the Error-Trend-Seasonality (ETS), Exponentially Weighted Moving Average (EWMA), and Holt-Winters methods, the research analyzes temporal patterns within financial cryptocurrency data. The results provide valuable insights into emerging trends and comparative performance among cryptocurrencies. Through a synthesis of our analytical approach, this study contributes to the ongoing dialogue on the integration of blockchain in finance, offering stakeholders a nuanced understanding of the potential implications for green business practices.
The evolving landscape of Decentralized Finance (DeFi) has raised critical security concerns, especially pertaining to Protocols for Loanable Funds (PLFs) and their dependency on price oracles, which are susceptible to manipulation. The emergence of flash loans has further amplified these risks, enabling increasingly complex oracle manipulation attacks that can lead to significant financial losses. Responding to this threat, we first dissect the attack mechanism by formalizing the standard operational and adversary models for PLFs. Based on our analysis, we propose SecPLF, a robust and practical solution designed to counteract oracle manipulation attacks efficiently. SecPLF operates by tracking a price state for each crypto-asset, including the recent price and the timestamp of its last update. By imposing price constraints on the price oracle usage, SecPLF ensures a PLF only engages a price oracle if the last recorded price falls within a defined threshold, thereby negating the profitability of potential attacks. Our evaluation based on historical market data confirms SecPLF's efficacy in providing high-confidence prevention against arbitrage attacks that arise due to minor price differences. SecPLF delivers proactive protection against oracle manipulation attacks, offering ease of implementation, oracle-agnostic property, and resource and cost efficiency.
William P. Rey, Carl Jose M Guingab, Mark Joseph C. Sheng, John Ray D. Tamayo
This study presents the development and evaluation of a Web-Based Loan Management System incorporating smart contracts for a lending company. Focused on enhancing security, transparency, and efficiency in the lending process, the research integrates blockchain technology, Hyperledger Fabric, and API functionalities. Performance testing using GTMetrix ensures reliability. User acceptance testing, employing the User Experience Questionnaire (UEQ) and System Usability Scale (SUS), reveals positive pragmatic and hedonic qualities, with a final SUS score of 90, indicating excellent usability. The results suggest that the system, equipped with innovative technologies, holds promise for lending companies seeking secure and efficient financial solutions.
Burak Ăz, Jonas Gebele, Parshant Singh, Filip Rezabek ¡ 5 authors
Maximal Extractable Value (MEV) searching has gained prominence on the Ethereum blockchain since the surge in Decentralized Finance activities. In Ethereum, MEV extraction primarily hinges on fee payments to block proposers. However, in First-Come-First-Served (FCFS) blockchain networks, the focus shifts to latency optimizations, akin to High-Frequency Trading in Traditional Finance. This paper illustrates the dynamics of the MEV extraction game in an FCFS network, specifically Algorand. We introduce an arbitrage detection algorithm tailored to the unique time constraints of FCFS networks and assess its effectiveness. Additionally, our experiments investigate potential optimizations in Algorand's network layer to secure optimal execution positions. Our analysis reveals that while the states of relevant trading pools are updated approximately every six blocks on median, pursuing MEV at the block state level is not viable on Algorand, as arbitrage opportunities are typically executed within the blocks they appear. Our algorithm's performance under varying time constraints underscores the importance of timing in arbitrage discovery. Furthermore, our network-level experiments identify critical transaction prioritization strategies for Algorand's FCFS network. Key among these is reducing latency in connections with relays that are well-connected to high-staked proposers.
Background and Aim: The advent of blockchain technology has brought about a significant transformation in the realms of finance and international trade, primarily through the implementation of a decentralized ledger system for conducting transactions. The present study aims to assess the efficacy and economic advantages of employing blockchain technology in the context of international trade financing. Specifically, it focuses on the potential decrease in transaction time and cost savings that Chinese domestic banks may experience as a result of adopting this technology. Materials and Methods: This research employs a quantitative methodology to assess the efficacy of blockchain technology in the context of international trade, with a specific emphasis on banking professionals. The study utilizes a cost-benefit analysis approach to maximize advantages and minimize drawbacks. Results: The research revealed that the implementation of blockchain technology has the potential to improve operational efficiency and mitigate transaction risks. However, it is important to note that this comes at the expense of increased costs, rendering it unsuitable for widespread adoption due to its unfavorable net benefit. Conclusion: The findings of the study indicate that the use of blockchain technology leads to enhanced operational efficiency and decreased transactional risks. However, it is important to note that this implementation also entails elevated costs, rendering it impractical for widespread adoption due to its unfavorable net benefit. The report posits that the advantages of operational efficiency offered by blockchain technology are overshadowed by the accompanying expenses, thereby advocating for a prudent approach to its implementation in the realm of international trade. The recommendations encompass many strategies such as the implementation of trial projects, conducting thorough cost-benefit analyses, using hybrid techniques, ensuring ongoing monitoring, and maintaining strict adherence to legal regulations.
Blockchain technology offers a promising way to improve business processes by providing a secure and transparent transaction platform. However, using this technology brings its own set of challenges, especially when trying to balance user privacy with legal and regulatory needs. This article explores the challenges of keeping user information private, adhering to regulatory frameworks, and fulfilling legal requirements on the blockchain. A key point in this research is the challenge of keeping or maintaining confidentiality while being transparent. The article also discusses the issues of applying legal rules to a system not controlled by one central authority, the risks of privacy and security breaches, and the need to follow data protection laws. The article highlights how some blockchain-based companies have tackled these challenges, mainly through smart blockchain management and innovative technology, by looking at real-world examples from major companies like IBM, Bitpay, Ripple, and Coinbase. The systematic literature review (SLR) methodology involved reviewing literature from the past 15 years (2008-2023) from trusted sources like Google Scholar, ACM Digital Library, IEEE, Springer, and Science Direct. The findings indicate that cutting-edge technologies prioritizing privacy, such as zero-knowledge proofs, ring signatures, and encryption methods, would enable Bitcoin (BTC) platform operations to maintain or balance privacy and transparency. Furthermore, the study indicates the importance of clear privacy guidelines, adhering to relevant regulations, working closely with regulators and law enforcement, and educating users. In summary, it is crucial to approach blockchain carefully, prioritizing user privacy while meeting all legal and regulatory requirements.
Wooyoung Son, Soonhong Kwon, Sung-Heun Oh, JongâHyouk Lee
As the demand and diversity of digital content increase, consumers now have simple and easy access to digital content through Over-the-Top (OTT) services. However, the rights of copyright holders remain unsecured due to issues with illegal copying and distribution of digital content, along with unclear practices in copyright royalty settlements and distributions. In response, this paper proposes an automated OTT service copyright distribution management system using the Open Digital Rights Language (ODRL) to safeguard the rights of copyright holders in the OTT service field. The proposed system ensures that the rights to exercise copyright transactions and agreements, such as trading of copyright, can only be carried out when all copyright holders of a single digital content agree based on the Threshold Schnorr Digital Signature. This approach takes into account multiple joint copyright holders, thereby safeguarding their rights. Furthermore, it ensures fair and transparent distribution of copyright royalties based on the ratio information outlined in ODRL. From the userâs perspective, the system not only provides services proactively based on the rights information specified in ODRL, but also employs zero-knowledge proof technology to handle sensitive information in OTT service copyright distribution, thereby addressing existing privacy concerns. This approach not only considers joint copyright holders, but also demonstrates its effectiveness in resolving prevalent issues in current OTT services, such as illegal digital content replication and distribution, and the unfair settlement and distribution of copyright royalties. Applying this proposed system to the existing OTT services and digital content market is expected to lead to the revitalization of the digital content trading market and the establishment of an OTT service environment that guarantees both vitality and reliability.
Open access
Blockchain Technology Applications and Security
Advanced Steganography and Watermarking Techniques
In this study the authors present an innovative approach to resolving scalability and efficiency challenges in blockchain technology through the integration of Directed Acyclic Graphs (DAGs). This approach helps to overcome the limitations of traditional blockchain systems, particularly in transaction processing. The classic blockchain has some problems as slow transaction processing and poor scalability. The authors offer Directed Acyclic Graph (DAG) as a scalable and energy-efficient alternative. The paper outlines the development of a DAG-based blockchain model, utilizing Python and Flask alongside the Ed25519 cryptographic curve. It conducts a comparative analysis of DAG with traditional consensus mechanisms like Proof of Work and Proof of Stake, underscoring the efficiency and security benefits of employment of DAG. The research methodology includes an extensive literature review and the construction of a practical model to demonstrate DAG's applicability in blockchain networks. Particularly notable is the exploration of DAG's potential in Internet of Things (IoT) ecosystems, addressing critical issues such as energy inefficiency and network communication challenges in existing consensus algorithms. The authors calculated the performance of the model and compared it with similar models on several evaluation criteria. The simulation results of our proposed model show an improvement in performance and security by minimizing end-to-end delay, time cost, energy consumption, and throughput. The model eliminates the limitations of classic blockchain systems, such as high latency and low scalability. It structures transactions and blocks as a DAG, which provides fast validation and high scalability without compromising security. The research demonstrates the transformative implications of DAG for advancing blockchain technology.