Blockchain Papers

Murray A. Rudd

No abstract is available for this record.

Diogo Pereira Coelho

No abstract is available for this record.

Lin William Cong, David Easley, Eswar Prasad

No abstract is available for this record.

R. Akila, J. J. Brindha Merin, S. Subhashini, Niyati Kumari Behera · 6 authors

Introduction: the authorities responsible for Land Registration (LR) are often held accountable for the mishandling and forgery of LR documents in many countries. Some individuals may use a cutting-edge technology called Blockchain (BC) to digitally transfer assets such as currency, paperwork, and real estate (RE). Each transaction, monetary exchange, and shared information facilitated by a Peer-to-peer network (P2P) can be carried out through a designated node. Methods: this paper proposes a method for secure transfer of land ownership using BC Technology without the involvement of intermediaries. Buyers and sellers are entering into a land ownership agreement via the Ethereum network. The decentralised systems has been to enhance their reliability. Currently, there is a growing development of decentralised solutions based on blockchain technology to tackle the limitations of centralised systems. Results: the application of BC technology gradually mitigates the security concerns of the LR system. Due to the fact that each block is connected to the hash of the preceding one, each hash value will be unique. The SHA algorithm is employed for this purpose. Conclusion: the ownership of the property cannot be transferred to the customer through the application. However, the smart contracts allow for automated updating of records

K. Sahitya Yadav, Smita Naval

Ethereum smart contracts leverage blockchain technology to facilitate the transfer of values directly between participants on a network, eliminating the need for a central authority. These contracts are deployed on decentralized applications that operate on top of the blockchain. By doing so, they provide individuals with the ability to create agreements in a transparent and secure environment, minimizing conflicts and promoting trust. It has been observed that there are bugs in the smart contract’s codes as these are provided by various programmers across the globe. The attackers exploit these security loopholes and pose a significant threat to applications, which subsequently result in financial losses to users. Discovering vulnerability in each contract is an important but time-consuming task. Therefore, we require to provide a security layer to each smart-contract such that it will make the exploitation a bit difficult task for attackers. The use of encryption and obfuscation techniques improves the security layer. The main focus of this research is source code obfuscation, which can increase security by up to 75%. The code obfuscation in security is mainly used by attackers to hide their malicious intent. We, in this approach suggest this method for increasing the complexity of smart contracts so that these cannot be exploited easily. We evaluate the impact of adding security layer to smart contract. The evaluation was done with various static and dynamic tools that identify the vulnerability in smart contracts. We achieved promising results which show that Obfuscation technique enhances the security and complexity of codes up to 75% which are stored on public blockchain.

Akin Akinrinde

No abstract is available for this record.

Yan Zhao, Gideon Kinnah

Abstract The proliferation of digital transformation through the Internet of Things has sparked the emergence of cryptocurrencies and elicited varied perspectives in both developed and developing countries. Ghana has imposed restrictions on the use and trading of cryptocurrencies, prompting ambiguities, uncertainties, and implications beyond the cryptocurrency world. Despite this, Ghana positions itself as a major player in the digital transformation of the African continent, both in mobile payment solutions and cryptocurrency. Given the long-standing Sino-Africa relationship, we examine the potential of a Sino-Ghanaian collaboration to aid Ghana in the development of its cryptocurrency future. Offering a unique opportunity to explore a development partnership through digital transformation in win–win cooperation. The Bank of Ghana Sandbox has enabled the provision of a digital wallet to facilitate access to both traditional and global digital currencies. This has given access to the global market and financial inclusion, enabling fintech startups to leverage the African cultural heritage by developing diverse art forms to be sold as Non-Fungible Tokens, Play-to-Earn (P2E) game offerings to Ghanaians. The implications of access to global markets, financial inclusion, and taxation have also been discussed. China is an epitome and a major propagator of digital transformation as a developing country and has eclipsed Ghana in terms of modern-day financial technologies and development. By drawing a nexus between cryptocurrency/blockchain, digital transformation and financial inclusion, an important empirical insight is provided into an interesting focal point on Sino-African collaboration in advancing cryptocurrency development in a new emerging digital economy.

Ng, Tsz Yik, 吳梓翌

Adopting Blockchain Technology (BT) to enhance effectiveness and efficiency in different industries is an emerging field of study. Given the complexity and costliness of the property transaction process, as well as the unaffordable property prices in Hong Kong, there is a pressing need for innovative solutions to simplify the processes and enhance the accessibility to real estate investment. This research examines the potential application of BT in the Hong Kong real estate market and evaluates its capacity to revolutionize the sector, as well as the potential obstacles it might face. This research employed a multi-faceted research methodology, by commencing with a comprehensive literature review on different BT concepts such as tokenization, decentralization, smart contracts, Non-Fungible Tokens (NFTs), fractional ownership, and the current transaction processes in Hong Kong real estate market. Then, combined with the interviews with experts and case studies of the successful adoption of BT in the foreign real estate market to analyse the feasibility and potential impact of adopting BT on Hong Kong real estate transactions. The result of this research reveals that BT could have a significant impact on Hong Kong’s real estate market by enabling fractional ownership, creating an efficient one-stop online transaction platform, and innovating the NFT crowdfunding method. It could offer transformative benefits such as enhanced security, transparency, efficiency, and lower the threshold for real estate investment. However, the traditional transaction methods remain deeply entrenched in Hong Kong real estate market and the technological landscape of BT is still nascent. Implementing BT in Hong Kong real estate transactions would face several challenges including regulatory hurdles, high integration costs, and market resistance. The revolution is undoubtedly challenging and necessitates careful consideration and strategic planning.

Narendra Karmarkar

Cryptocurrency and blockchain technologies have emerged as transformative innovations capable of reshaping financial systems, digital commerce, governance, and decentralized applications. Blockchain provides a secure, transparent, and immutable distributed ledger, while cryptocurrencies facilitate peer-to-peer transactions without relying on centralized financial intermediaries. Despite their growing adoption across industries such as banking, healthcare, supply chain management, insurance, and government services, significant regulatory challenges continue to impede widespread implementation. Governments and regulatory authorities worldwide face the complex task of balancing technological innovation with consumer protection, financial stability, anti-money laundering (AML) compliance, taxation, cybersecurity, and data privacy. The absence of globally harmonized regulations has created legal uncertainties, operational risks, and compliance burdens for blockchain developers, cryptocurrency exchanges, investors, and enterprises. Moreover, emerging technologies including decentralized finance (DeFi), stablecoins, non-fungible tokens (NFTs), and central bank digital currencies (CBDCs) introduce additional governance complexities that require adaptive regulatory frameworks. This paper presents a comprehensive review of the regulatory landscape governing cryptocurrency and blockchain adoption by examining existing legal frameworks, policy initiatives, compliance mechanisms, and international regulatory approaches. The study further identifies critical barriers, evaluates current governance models, and discusses future regulatory directions that promote innovation while ensuring transparency, accountability, security, and sustainable digital economic growth.

Sabuj Saha, Prodip Chandra Bishwas, Urmi Das, Ayesha Siddika Arshi

FinTech has successfully challenged the established finance landscape and diversified its entry into socio-economic and sustainable platforms. On the contrary, it poses significant security, legislative, and law enforcement issues and may amplify the potential for fierce rivalry in the financial system. This study has identified four broader applications of FinTech that drive widespread FinTech adoption: banking, financial inclusion, regulation, and sustainability. The paperhas discussed the multifaceted impact of FinTech, analyzed current technologies, and trends shaping FinTech and examined the policy implications in each of the keyareas. We explored research articles and employed a narrative perspective. FinTech has broken down barriers for marginalized, unbanked populations through more accessible digital credit and leveraged the technological infrastructure for a smooth transition to a low-carbon economy. Adopting innovative technologies such as crowdfunding, big data analytics, blockchain, and artificial intelligence have established strategic decentralization and sped up ecological transition. However, since unregulated FinTech use can worsen existing financial problems and create more information asymmetry, establishing a regulatory framework with proper supervision that prioritizes client interests, data privacy, and risk management is crucial. As more and more financial institutions embrace the digital revolution, we anticipate a lot of positive outcomes, such as balanced regulation, an improved sustainable financing environment, and greater access to financial services for everyone.

Milad Keshvari Fard, Jingshu Liu

The transformative power of blockchain and cryptocurrencies has rippled across diverse industries, sparking innovation and redefining established norms. In this chapter, we explore how the nonprofit sector can tap into the vast potentials of cryptocurrencies in fundraising, providing financial inclusion to disadvantaged population, and helping the underdeveloped communities. Furthermore, we examine the challenges associated with adopting cryptocurrencies, as well as strategies to navigate and harness these challenges effectively.

Iman Patria Yudha, Raden Aswin Rahadi, Ana Noveria

This research investigates the strategic adoption of Bitcoin as a corporate asset in Indonesia, focusing on its potential as an inflation hedge and its impact on enhancing shareholder value. Employing a mixed-method approach combining qualitative interviews and the Analytical Hierarchy Process (AHP), the study explores the challenges, risks, and opportunities associated with integrating Bitcoin into corporate financial strategies. The findings reveal that risk mitigation emerges as the primary priority for companies considering Bitcoin adoption, underscoring the need for robust strategies such as investment diversification, hedging, and scenario analysis. Stakeholder acceptance, encompassing investors, regulators, and market sentiment, is identified as the second most crucial factor, highlighting the importance of a supportive regulatory environment and investor confidence. The research also highlights the significance of analyzing price trends and optimizing asset allocation strategies. The AHP analysis identifies the Strategic Diversification approach as the most preferred alternative, aligning with Modern Portfolio Theory principles. Additionally, the study addresses accounting and financial reporting challenges associated with Bitcoin adoption, emphasizing the need for clear guidance and standards. The implementation plan outlines key aspects such as infrastructure development, education initiatives, risk management frameworks, and regulatory collaboration to facilitate the responsible integration of Bitcoin into Indonesian corporate finance strategies.

Allison Sinnott, Kyrie Zhixuan Zhou

No abstract is available for this record.

İsmet Abacı

Geleneksel olarak sahiplik kanıtı kâğıt üzerinde olan sektörlerin, özellikle gayrimenkul sektörünün, hızla artan işlem hacmi ve dijital dönüşümle birlikte, dijital varlıklar ve blok zinciri teknolojileri kullanılarak daha şeffaf, güvenli ve verimli bir hale gelmesi kaçınılmaz olmuştur. Bu yeni yaklaşım, gayrimenkul sahipliğinin dijital ortamda aktarılması ile yatırımcıların gayrimenkul varlıklarına daha kolay ve hızlı erişim sağlamalarına olanak sağlayabilir. Non-Fungible Tokens (NFT'ler) ve onların daha özeleştirilmiş karşılığı olan Fractional Non-Fungible Tokens (F-NFT'ler) gibi yeniliklerin ortaya çıkmasına yol açmıştır. F-NFT'ler, varlıkların kesirli mülkiyetini sağlayarak, NFT'lerin güvenli ve şeffaf özelliklerini gayrimenkul uygulamaları için gerekli olan likidite ve demokratik yönetimle birleştirebilir. Bu çalışmada, F-NFT'leri dijital senetler olarak kullanarak ortak mülkiyeti doğrulayan ve böylece yönetişimi iyileştirip varlık yönetimini demokratikleştiren bir sistem önermektedir. Önerilen çerçeve, blok zincir teknolojisini, akıllı sözleşmeleri ve merkezi olmayan otonom organizasyonları (DAO'lar) entegre ederek, geleneksel gayrimenkul sistemlerinin yüksek giriş engelleri, likidite eksikliği ve karmaşık yönetişim mekanizmaları gibi verimsizliklerini ele almaktadır. F-NFT'lerin kapsamlı teorik ve pratik uygulamasını sağlayarak, çalışmamız geleneksel mülkiyet modellerinin verimsizliklerini vurgulamakta ve gayrimenkul işlemlerinde yenilikçi bir değişim sunmaktadır. Çalışma, sistem içindeki karmaşık süreçleri ve etkileşimleri aydınlatan ve yaklaşımımızın otomatik, şeffaf ve verimli doğasını vurgulayan yenilikçi dizilim ve sınıf diyagramlarının kullanımı ile öne çıkmaktadır. Bu diyagramlar, gayrimenkul varlıklarının ihraç edilmesi ve parçalanması, F-NFT'lerin dağıtımı, mülkiyetle ilgili kararların yönetimi ve kira işlemlerinin yürütülmesinde hükümet, akıllı sözleşmeler ve mülk sahipleri gibi kilit aktörlerin rollerini göstemektedir. Bulgular, F-NFT'lerin gayrimenkul yatırımlarına erişimi demokratikleştirebileceğini, likiditeyi artırabileceğini ve daha kapsayıcı yönetişim mekanizmalarını kolaylaştırarak merkezi olmayan ve verimli bir gayrimenkul piyasasının yolunu açabileceğini önermektedir. Ancak, düzenleyici çerçevelerin oluşturulması ve likidite mekanizmalarının iyileştirilmesi konularında zorluklar devam etmektedir. Gelecek araştırmalar, F-NFT'leri geleneksel pazarlarla entegre etmeye, güçlü ikincil pazarlar geliştirmeye ve dijitalleşmiş, merkezi olmayan bir gayrimenkul ortamının potansiyelini tam olarak gerçekleştirmek için yenilikçi kullanım durumlarını araştırmaya odaklanacaktır. Bu çalışma, tek varlık sahipliğinden işbirlikçi ve dijitalleşmiş bir yaklaşıma geçişi önererek, gayrimenkul yatırımlarının erişilebilir, adil ve blok zincir teknolojisinin yenilikleriyle yönetildiği bir geleceğin temelini atmaktadır.

Shiyu Yang

In recent years, non-fungible tokens (NFTs) have rapidly emerged as a novel business model based on blockchain technology. However, this phenomenon also challenges the existing copyright protection system. This research develops game models between creators and collectors in the NFT market, considering different platform reputation mechanisms. First, the potential for individuals to achieve cooperative equilibrium in repeated games is explored, and then the group evolutionary stability in evolutionary games is analyzed. The findings indicate that platforms with reputation systems are more effective in encouraging creators to consistently produce original works, which is beneficial for copyright protection. For individuals, the degree of importance that creators place on future profits plays a crucial role in fostering long-term cooperation. In this context, reputation systems can lower the threshold for cooperation by reducing the required emphasis on future gains, thereby fostering greater cooperation. For groups, in the absence of reputation systems, creators tend to adopt non-original strategies. Conversely, a reputation system can encourage originality when sufficient incentives and a critical mass of initial original creators are present. The research offers a game-theoretic perspective on copyright protection in the NFT market, offering theoretical insights for designing effective reputation systems on NFT platforms and serving as a reference for policymakers.

Silvia Bonomi, Stefano Cappai, Emilio Coppa

No abstract is available for this record.

Ziqi Tang

Smart contracts, pivotal to blockchain technology, are rapidly proving their worth across the digital economy.Yet, as their application widens, issues concerning their security and scalability have emerged as major industry concerns.This paper provides a comprehensive analysis of these challenges, uncovering potential security vulnerabilities and scalability obstacles facing smart contracts.By delving into these critical areas, the study not only enhances understanding but also offers robust theoretical insights and practical recommendations to support the evolution and broader deployment of smart contracts.Furthermore, this research proposes innovative strategies and methods to address these pivotal issues, thereby facilitating the sustainable growth and widespread adoption of smart contracts in the digital economy.This work is expected to significantly influence the development trajectory of blockchain applications by providing new perspectives on improving smart contract frameworks in an increasingly digital world.

Maznun Arifa Mohammadan Makhtar, Novia Admodisastro, Mohd Anuar Mat Isa, Daniel Hafiz Abdullah · 5 authors

People are now widely adopting digital assets in various applications, integrating them into almost every aspect of their lives. Electronic books, or e-books, are one of the digital assets that result from the transformation of physical reading material into the digital world. Nowadays, blockchain is used in many industries because it provides immutable and transparent records. E-book publishers may take this opportunity to adopt blockchain technology for e-book data management. However, blockchain storage is limited; thus, storing the e-book files in blockchain is not recommended. A decentralized storage system, such as InterPlanetary Files Systems (IPFS), is an alternative way to store large files like e-books. IPFS can facilitate the storage of e-book files while the metadata is stored in the blockchain. The e-book metadata should be stored in a structured way for effective search and retrieval. E-book metadata could be added, deleted, and updated occasionally. Nevertheless, some data structures often struggle with dynamic collections of records. This paper proposes a linked list-based smart contract on Ethereum that integrates with IPFS for the e-book management system. We demonstrate the implementation of a linked list smart contract for insertion, deletion, update, retrieval, and traversal of the e-book’s metadata. The result shows that a linked list-based smart contract with IPFS could offer a robust solution for e-book data management. This solution provides more opportunities to explore further security and cryptography approaches toward a secure e-book management system.

Ugur Halden, Ümit Cali

No abstract is available for this record.

Mathew Abraham

This study investigated the de-pegging effect of stable coins in the crypto market considering the increased growth in crypto lending using DeFi (Decentralized Finance).Employing an event study method and using the trading data of a select sample of stable coins and cryptocurrencies in more than two-year post-pandemic sample period (01 January 2021-30 March 2024), the study examined whether there was a spillover effect of stable coin crisis into the cryptocurrency market.The event study results showed that prior to the de-pegging event, there was a sharp decline in abnormal returns of both stable coins and cryptocurrencies.The univariate, event study and logistic regression estimations support the study predictions that the de-pegging event of USDC affected the crypto market adversely including the cryptocurrencies.Despite the claim of maintaining a pegged value, the stable coins were found to be prone to volatility mainly due to their involvement in DeFi lending.Although both USDC and DAI recovered fast and reached their pegged values of US$1, probably due to the immediate intervention of the FED in the March 2023 banking crisis, the recovery was short-lived.This is a lesson for crypto investors who patronize DeFi lending platforms in pursuit of yield farming and staking that stable coins are no longer stable as they claim to be, and they can be as volatile as cryptocurrencies.

Luohaotian He

Currently, blockchain technology is finding applications across a broad range of industries beyond its traditional role as a decentralized ledger.A notable area of expansion is in blockchain gaming, which leverages the core attributes of blockchain-transparency, immutability, and decentralization-to address the trust issues traditionally associated with game operators.This paper explores various existing examples of how blockchain technology has been integrated into digital gaming.For a more practical exploration, the author developed a blockchain-based version of the game Monopoly.This adaptation specifically addresses the generation of random numbers, a complex and critical challenge within the blockchain framework.Additionally, the paper delves into other essential facets of blockchain game development, including the design of NFTs(Non-Fungible Tokens ), the creation of security mechanisms for smart contracts, and strategies for optimizing gas usage.These developments underscore the potential of blockchain to transform gaming dynamics by enhancing fairness, security, and player ownership.

Thanyah Aldaham, Hédi Hamdi

The growing dependence on digital financial and banking transactions has brought about a significant focus on implementing strong security protocols. Blockchain technology has proved itself throughout the years to be a reliable solution upon which transactions can safely take place. This study explores the use of blockchain technology, specifically Ethereum Classic (ETC), to enhance the security of digital financial and banking transactions. The aim is to develop a system using an LSTM model to predict and detect anomalies in transaction data. The proposed LSTM model was trained before being tested and the results prove that the proposed model can effectively enhance the security, especially when compared to other studies in the same domain. The proposed model achieved a prediction accuracy of 99.5%, demonstrating its effectiveness in enhancing security by preventing overfitting and identifying potential threats in network activities. The results suggest significant improvements in digital transaction security, enhancing both the traceability and transparency of blockchain transactions while reducing fraud rates. Future work will extend this model's applicability to larger-scale decentralized finance systems.

Ghasan Alfalah, Abobakr Al-Sakkaf, Eslam Mohammed Abdelkader, Saleh Rawdhan · 6 authors

Smart contracts have the ability to address a variety of important obstacles in the construction business, such as contract conflicts and payment issues. Likewise, it may facilitate the adoption of building information modeling (BIM) in the industry. Poor adoption of distributed ledger technology in the Arabian construction sector stems from a variety of impediments. The usage of smart technology is growing in popularity across the globe in the recent few years. Nonetheless, in the Arab world, there are not enough experts who are aware of how smart contract technology can make the construction sector more efficient, collaborative, and transparent in the digital era. With that in mind, the purpose of this study is to evaluate the benefits and drawbacks of using smart contracts in the construction industry. To accomplish its goals, this study mostly uses descriptive statistics to analyze the collected data from questionnaire surveys. This research utilizes an illustrative diagram to map the potentials and obstacles to the adoption of smart contracts from the respondents’ perspective. According to the conducted analysis, there are five main potentials and barriers to smart contract implementation, namely, the Internet of Things, data reliability, stakeholders, security for distributed systems, and finance and economics. Additionally, the questionnaire survey yielded 21 potentials such as better risk allocation, decreased transaction time and cost, and ease of understanding by multiple stakeholders. Moreover, the conducted survey obtained 19 barriers such as slow learning curve, high training and education costs, and cybersecurity concerns. It can be argued that the present research study can assist in endorsing the adoption of smart contracts in the Arabian construction market.

Milad Keshvari Fard, Jingshu Liu, Fotios Petropoulos

No abstract is available for this record.