Abstract The use of smart contract technology for contract execution and real-time payment can ensure the timely availability of funds, thus ensuring the security and authenticity of data in power grid transactions. In this paper, we design a digital RMB smart contract model based on blockchain technology and use the hexadecimal model to create, deploy, and execute smart contract functions. And through the DTSC algorithm, smart contracts can be applied to the grid smart payment settlement. At the same time, a privacy protection algorithm for transaction data is proposed, and finally, the grid smart payment settlement system is designed based on smart contracts and privacy protection algorithms. Simulation test results show that the cost required for the digital RMB smart contract proposed in this paper is lower than the existing schemes in terms of invocation and deployment costs. The average chain code invocation delay in smart contract technology decreases when the transaction sending rate increases from 250TPS to 300TPS. Moreover, the on-chain operation time of this system is only 2.69 seconds, which meets the demand of practical power grid smart payment settlement applications. This paper sets the foundation for the efficient operation of the grid smart payment and settlement system and provides a guarantee for payment and settlement security.
Law has been effectually responding to the legal issues raised by technological advancements. It has indeed recognised electronic contracts (or e-contracts), i.e. the formation of contracts in electronic form or by means of exchange of electronic records. Currently, the contract law especially is confronted with unique challenges posed by smart contracts, which have the potential to produce manifold advantages. Smart contracts are computerised programs or ‘transaction protocols’ which automatically execute the terms of agreement upon the fulfilment of conditions recedent agreed upon by the parties. The difference between a smart contract and a traditional paper-based contract appears to be in the manner in which a smart contract is recorded/stored and performed. This difference, however, does not alter the character of a smart contract altogether from being essentially a ‘contract’. As these contracts also manifest the agreement between the parties and are actually entered into and recorded in a specific way, therefore, their validity, enforceability and interpretation will be subject to the contract law. If viewed from a broader perspective, these contracts are essentially special species of e-contracts, with some additional, advanced technology-based striking features. The fast expansion of smart contracts necessitates a legal examination of the extent to which the fundamental principles of contract law, existing provisions of the Indian Contract Act, 1872 and the Information Technology Act, 2000 deal with the contract law issues raised by these contracts. These contracts are increasingly expanding their ambit beyond financial transactions. The four specific research questions which this paper attempts to address are: (a) What is the current legal position of smart contracts in India? (b) To what extent, the established legal principles of contract formation apply to smart contracts? (c) What are the legal challenges posed by this modern form of contracting? (d) Are smart contracts to be enforced and interpreted in the same manner as any other contract? Additionally, the paper also discusses the future of smart contracts in India.
Joyce Quintino, Carina Oliveira, Rossana M. C. Andrade
The growth of devices in the Internet of Things (IoT) has brought an increase in the amount of data flowing through the network. As a consequence of that, a reliable environment has became essential to avoid security vulnerabilities. In this scenario, Blockchain emerges as a promising technology to enhance IoT security, enabling decentralized, encrypted, and immutable data registration with the consensus of network participants. Smart contracts are self-executing programs distributed in a Blockchain. In IoT applications that use Blockchain, smart contracts can eliminate the need for intermediaries, allowing for more secure and transparent data transfers between involved parties in a decentralized manner. However, smart contracts are subject to security flaws, mainly caused by programming errors and vulnerabilities in the source code, which can result in financial losses or compromise data integrity, posing risks to users’ privacy and security. Therefore, performing tests with different approaches before deployment can expose errors in the smart contract code and reduce security risks. This work then proposes a process, called PERCI, that defines a set of verification steps for smart contracts in IoT applications to detect known vulnerabilities, using a combination of static and dynamic analysis tools before the contract deployment. The combination of static and dynamic analyses is proposed to improve vulnerability detection, providing a more robust solution. For this, the process uses two static analysis tools, Slither and Mythril, and one dynamic analysis tool, Manticore. PERCI is evaluated, firstly, by demosntrating that the combination of the analyses of each tool resulted in more efficient vulnerability detection, providing a more comprehensive and precise verification of the smart contract code. Additionally, this work integrated a smart contract to register and authenticate devices on the Blockchain with an IoT application that shows weather conditions through colors with a smart lamp. The process evaluation demonstrated the feasibility of using combined static and dynamic analyses for more efficient vulnerability detection. Finally, this dissertation is expected to contribute to improving the security and the reliability of IoT applications that use Blockchain.
This study aims to find out and analyze the influence of financial literacy, experienced regret, and risk tolerance on cryptocurrency investment decisions among millennials. The collection data used in this study used primary and secondary data. The population in this study were millennials who had
The use cases of blockchain as an innovative technology have increasingly captured the attention of tourism enterprises. To date, the literature tends to discuss blockchain's advantages rather than how early enterprise adopters and innovators experience and perceive the technology. As such, the extent of technology diffusion is not well understood. This study critically explores the factors influencing blockchain diffusion in tourism and how blockchain innovation is diffused in tourism. We conducted semistructured interviews with founders and senior executives of tourism enterprises in the United States and Europe who are early adopters and innovators of blockchain in tourism. From the thematic analysis, our empirical findings indicate that blockchain has much to offer despite the nascent link between blockchain's business value to an enterprise's strategic plans and the limited success of use cases in tourism. We summarize the findings in a conceptual framework and offer propositions based on the antecedents (motivators and drivers and challenges and barriers) of blockchain diffusion of innovation for enterprises to achieve competitive advantage. The propositions provide a research agenda to guide the strategic implementation of blockchain.
من انعكاسات استخدام التقنيات والتكنولوجيا الحديثة ظهور ما يسمى بالعقود الذكية، حيث ثارت الكثير من الأسئلة حول ماهية هذه العقود، وكيف نشأة، وماهي العناصر المكونة لها، والخصائص الفريدة التي تميزها، خصوصاً في ظل احتواء هذه التقنية على العديد من المصطلحات والرموز التي لم يسبق للكثير التعرف عليها، ويكاد ينحصر نطاقها المعرفي على علماء الحاسب الآلي والبرمجيات. تقوم العقود الذكية على فكرة تلقائية إعداد وتنفيذ المعاملات التي تدمج في منصة سلسلة الكتل، دون الحاجة إلى العنصر البشري، حيث ارتبط ظهور هذه العقود في بداية الأمر بظهور العملات الرقمية المشفرة.وتعتبر العقود الذكية من العقود المستحدثة التي لم يستقر على تحديد ماهيتها، حيث تتعدد مفاهيمها، وتتشعب مصطلحاتها، لذا جاء هذا البحث لتسليط الضوء على تلك العقود وتطورها، وتحديد مفهومها، وبيان خصائصها، حيث خلص إلى العديد من النتائج، منها أن العقد الذكي يتمتع بخصائص فريدة، كالتحقق الذاتي، والتنفيذ التلقائي، والتوثيق الآلي.لذا.. يجب الاهتمام بالمزيد من البحث حول تلك العقود لتلافي قصور المعرفة القانونية بمجال التكنولوجيا الحديثة، والاستفادة من هذه الثورة التقنية في جميع المجالات.One of the implications of the use of modern techniques and technology is the emergence of so-called smart contracts, as many questions have arisen about what these contracts are, how they were created, what are their constituent elements, and the unique characteristics that distinguish them, especially in light of this technology containing many terms and symbols that have not been known to many before. Learn about it, and its scope of knowledge is almost limited to computer and software scientists.Smart contracts are based on the idea of automatically preparing and executing transactions that are integrated into the block chain platform, without the need for the human element, as the emergence of these contracts was initially linked to the emergence of encrypted digital currencies.Smart Contracts are considered innovative agreements with an undefined nature, featuring diverse concepts and branching terminologies.This study aims to illuminate these contracts, exploring their development, defining their concept, and outlining their characteristics. The study concludes that Smart Contracts possess unique attributes such as self-verification, automatic execution, and automated documentation.Therefore.. further study is essential to address legal knowledge gaps in the field of modern technology, ensuring the utilization of this technological revolution across various domains.
The rapid convergence of digital finance, distributed computing, and artificial intelligence has accelerated the global transition toward asset tokenization, redefining how value is represented, exchanged, and governed across financial ecosystems. Asset tokenization enabled by blockchain-based digital representations of real-world or financial assets offers greater liquidity, fractional ownership, transparent auditability, and global accessibility. However, the complexity of multi-asset valuation, interoperability across blockchain networks, and the scalability requirements of high-volume trading environments demand an advanced technological foundation that extends beyond conventional decentralized architectures. At a broader level, the integration of AI-enhanced valuation models with decentralized cloud infrastructure introduces a next-generation approach for developing secure, resilient, and automated end-to-end tokenization systems. Narrowing in focus, this paper proposes a comprehensive framework for designing asset tokenization platforms that leverage distributed cloud networks for computation, storage, and consensus while embedding machine-learning valuation engines at every stage of the asset lifecycle. AI-driven valuation models improve price discovery, dynamic asset classification, risk adjustment, and anomaly detection for tokenized assets spanning real estate, commodities, financial securities, intellectual property, and carbon credits. Smart contracts operationalize these insights by automating minting, compliance checks, investor eligibility, and secondary-market settlement. Decentralized cloud services further enhance scalability by enabling parallelized model inference, distributed identity verification, and state synchronization across multiple chains. Privacy-preserving computation such as secure multiparty learning and encrypted inference ensures that valuation logic remains confidential while maintaining regulatory-grade auditability. By integrating AI, tokenization infrastructures, and decentralized compute layers into a unified architecture, the system supports efficient asset digitization, transparent governance, and regulatory-aligned operation across jurisdictions. This research presents an end-to-end blueprint for future-proof tokenization ecosystems that harness AI and decentralized cloud networks to deliver trust, efficiency, and inclusivity in digital markets.
Saeed Mohebi Ashtiani, Omid Ali Adeli, Mohammadreza Pourfakharan, Mohammad Hasan Maleki
Smart contracts are one of the most significant applications of blockchain technology, which have gained considerable importance in the financial industry. These contracts promote transparency and enhance good governance in the banking sector. The present research aims to conduct a Futures Study of smart contracts in the banking industry using a scenario-building approach. This research is applied in nature, and methodologically, it is a mixed-methods study. In this research, fuzzy Delphi, fuzzy WASPAS, and interviews with focus groups were used to analyze the data. In the first step, 37 drivers were identified through a literature review and interviews with blockchain experts. These drivers were then filtered using expert questionnaires and the fuzzy Delphi method. Nine drivers were selected for final prioritization using the fuzzy WASPAS method. The filtered drivers were ranked through prioritization questionnaires and the fuzzy WASPAS method. Based on the scores of the fuzzy WASPAS method and considering three criteria—expertise, importance intensity, and certainty level—the drivers of coordination and integration level of banks in adopting new technologies and contracts, as well as the integration level of information systems in the banking industry, were given the highest priority and were selected for scenario mapping. The research scenarios were developed based on the two prioritized drivers and through interviews with focus groups. These scenarios included: Smart Banking, Integrated Banking, Island Banking, and Traditional Banking. Smart Banking represents the ideal scenario, and practical recommendations were developed based on this scenario.
File sharing has become a common practice in our daily lives, but there are many concerns regarding security and privacy for various reasons. To address these concerns, researchers are exploring different storage and sharing options. Blockchain technology, with its decentralized and immutable nature, provides an appealing solution. The proposed hybrid file-sharing system offers a unique approach to combining the benefits of centralized user management and decentralized storage. By utilizing Ethereum smart contracts for access control, the system ensures secure and transparent sharing of files. Moreover, using the Inter Planetary File System for decentralized storage ensures high availability and scalability. This concept attempts to solve the accessibility, privacy, and security issues related to centralized and decentralized systems by utilizing the advantages of both models. The centralized system will help manage user authentication and authorization, making it easier for individuals unfamiliar with blockchain technology to interact with the system. On the other hand, IPFS provides decentralized storage with data redundancy and reliability. Access control is implemented through Ethereum smart contracts, which restrict file access to unauthorized users. Overall, this paper demonstrates how blockchain technology, with a hybrid model, can create a user-friendly, secure file-sharing environment immune to common vulnerabilities in centralized systems.
The financial industry leads among various industries that use blockchain technology to introduce powerful transformational capabilities. Due to problems like data falsification, insufficient disclosure practices, unacceptable delays, and fraudulent operations within the financial reporting framework, stakeholders face reliability challenges in sustaining trust with organizations. The research examines blockchain technology integration into financial reporting structures through assessments of its core characteristics, including distributed management, unalterable data, and transparent processes with instant information synchronization. These boost reporting authenticity and fight against unlawful activities. This paper utilizes mixed research methods to investigate blockchain efficiency by analyzing academic literature with qualitative interviews of experts and evidence from particular implementation cases. This study demonstrates that blockchain enables better and faster data recording and sealed audit processes that reduce internal and external falsification chances. The research examines practical early implementations of distributed ledger-based reporting systems within multinational and accounting organizations. The study acknowledges several essential drawbacks since it reveals that the technology presents complex operations, scalability limitations, and interoperability challenges, and no clear regulatory framework exists. Various hurdles prevent blockchain technology from achieving greater industry market penetration. Through the research findings, academic research and professional discourse gain practical knowledge about reshaping traditional financial reporting systems. The paper proposes strategic insights for policymakers, regulators, and financial institutions involved in blockchain-based financial reporting implementation while offering suggestions for future research.
The rise of blockchain technology has set the stage for groundbreaking decentralized applications and smart contracts. Recently, there's been a surge in interest regarding the integration of social media data into blockchain-based smart contracts, promising significant transformations across sectors like finance, marketing, and governance. Essentially, this shift involves tapping into the vast pool of data generated by social media interactions immutable smart contracts. By capitalizing on blockchain transparency, security, and decentralization, this integration aims to streamline processes, foster trust, and unlock new avenues for automation and efficiency. This paper delves into the process of gathering data from YouTube, a prominent video-sharing platform, via its API for use in an integrating data into smart contract. YouTube boasts an extensive repository of data ripe for various applications. The research utilizes Node.js, Solidity, and YouTube API technologies. Furthermore, it explores incorporating this gathered information into a smart contract, enriching features within a decentralized ecosystem. The incorporation of social media data into a smart contract offers fresh prospects for data-driven decision-making and content verification, contributing to the advancement of blockchain-based applications and services. The process of converting data into smart contracts is divided into several main stages. The article also provides the results of execution time testing for transferring data from social media into smart contracts. The conducted tests showed a significant reduction in execution time thanks to the utilization of the YouTube API along with Node.js and Solidity technologies. This approach to integrating data into smart contracts can be applied for further analysis and content verification, fostering the development of blockchain-based applications and services. Keywords: cryptocurrency, smart contract, Solidity, social media, decentralization, data analysis.
This paper discusses in depth the regulatory environment of cryptocurrencies, with a special focus on the uncertain equilibrium between stability of market, investor protection, & innovation.The research thoroughly examines existing literature and regulatory frameworks and investigates the opportunities and challenges that are inevitable and inherent in crypto regulation which is a rapidly evolving sector of the financial industry.Key themes that have been discussed are the impact of regulatory policies on investor behaviour, market dynamics, and technological innovation.This paper provides meaningful insights to policymakers, relevant financial services firms, market participants, and other stakeholders that wish to gain a better view and respond to the issues shaping the cryptocurrency industry by integrating assessment material from multiple sources.The key finding is that the most optimal regulatory framework is that which is adaptable and forward-leaning because it favors the efficacy, openness, and resilience of the cryptocurrency marketplace and the need for accelerated innovation and entrepreneurship.This study expands our understanding of the regulatory circumstances surrounding the cryptocurrency industry and it can better direct future policymaking and regulatory behavior surrounding the cryptocurrency implementation in this rapidly evolving and vibrant social science discipline.This study uses a systematic review methodology based on the literature review of data collection.
This study examines cryptocurrency regulation in African countries. It identifies the advantages of cryptocurrency regulation, the regulators of cryptocurrency in African countries, and it identifies the existing cryptocurrency regulatory models in Africa. It also identifies the motivation for regulating cryptocurrency in Africa as well as the challenges and consequences of regulating cryptocurrency in Africa. The study also offers a perspective on rules-based vs. principles-based cryptocurrency regulation in African countries. The study shows that majority of African countries adopt a 'do-not-regulate' cryptocurrency regulatory model which indicates that cryptocurrency remains largely unregulated in many African countries. Few African countries adopt the full-scale cryptocurrency regulatory model, the total ban cryptocurrency regulatory model, the soft ban cryptocurrency regulatory model, and the use-at-own-risk cryptocurrency regulatory model.
Smart contracts are becoming increasingly more part of our society and there is a definite rise in the acknowledgement of a smart contract as a contract. One of the aspects to consider when a contract is entered into, is the issue of jurisdiction. This can be problematic when dealing with smart contracts. There seems to be a conflict between the specific rules of law which govern jurisdiction and the emerging technology that a smart contract uses. When dealing with contract interpretation, jurisdiction is one of the first aspects that is analysed, discussed and applied. Interpretation of so-called traditional contracts have well-established rules and principles with regard to jurisdiction, but there seems to be a number of grey areas when it comes to this same aspect when dealing with smart contracts.
Traditional banking systems were significantly disrupted by the advent of digital currencies, most notably cryptocurrencies like Bitcoin and Ethereum, which have provided alternative ways of conducting transactions and storing value. Among other aspects, this research paper explores the far-reaching effects that digital currencies have had on traditional banking including disintermediation, payment systems, cross-border transactions and risk management. Besides, the paper examines the regulatory challenges posed by digital currencies through presenting different case studies from various jurisdictions and it also analyzes the technological integration of blockchain as well as distributed ledger technologies within mainstream banks’ frameworks. The next section discusses broader economic implications such as financial stability, monetary policy and consumer behavior. In addition, future prospects and challenges are looked at with strategic recommendations being given for traditional banks to transform themselves in order to survive under a changing financial landscape. Therefore this full analysis seeks to provide an understanding of how digital currencies can be transformational while suggesting a path for guiding old banks through new era of financial innovation.