Abstract Digital financial fraud and the financial-literacy defences meant to counter it have become a fast-growing, cross-disciplinary research concern, yet the conceptual and intellectual structure of this combined field has not been systematically mapped. This study presents a bibliometric analysis of research at the intersection of digital fraud susceptibility and financial literacy, using metadata retrieved from the open bibliographic database OpenAlex and analysed with VOSviewer. A dataset of 523 documents published between 2015 and 2026 was examined through publication-trend analysis, citation and source analysis, co-authorship analysis, term co-occurrence mapping, and bibliographic coupling. Annual output grew steeply, with roughly 60% of the corpus appearing in 2023–2025, indicating a young and rapidly expanding field. Co-occurrence mapping of 176 concepts produced six substantive thematic clusters: accounting, auditing and forensic controls; financial literacy and consumer psychology; artificial-intelligence and machine-learning fraud detection; digital payments, fintech and cyber-enabled fraud; law, regulation and consumer protection; and information security, privacy and identity. The digital-payments and fintech cluster was the most recent on average, and fintech, digital literacy, financial inclusion and blockchain surfaced as research fronts. Collaboration was highly fragmented, with no large connected co-authorship component, and direct-citation linkage within the corpus was sparse, although bibliographic coupling revealed greater thematic cohesion. The analysis charts the contours of an emerging field and identifies under-integrated areas—particularly the gap between behavioural financial-literacy research and technical fraud-detection research—that warrant coordinated attention. Limitations relating to the OpenAlex concept classifier and single-database coverage are discussed.
The financial sustainability of small and medium-sized enterprises (SMEs) has become increasingly important in the context of economic volatility, technological disruption, and growing sustainability demands. However, existing studies remain fragmented and often examine financial, organizational, technological, and environmental factors in isolation. This study systematically reviews 49 articles indexed in the Scopus and Web of Science databases published between 2014 and 2026 to identify the dominant determinants, thematic patterns, and conceptual structure of financial sustainability in SMEs. Using the PRISMA protocol and NVivo-based bibliometric and thematic analyses, this study examines publication trends, geographic distribution, lexical structures, and thematic relationships across the literature. The results show that research is concentrated primarily in Asia and Europe, reflecting increasing scholarly attention to financial literacy, governance quality, resilience, digital transformation, FinTech adoption, ESG practices, and green finance. Thematic synthesis reveals three interconnected pillars—Internal Capability, Adaptive Resilience, and Digital–Green Transformation—which collectively form an architecture of endurance framework that explains how SMEs maintain financial viability under conditions of uncertainty and change. This framework advances prior reviews by integrating organizational capability, resilience-building mechanisms, and sustainability-oriented transformation into a unified model of financial sustainability for SMEs. Practically, the findings highlight the importance of strengthening financial literacy, governance quality, risk management capability, digital adoption, and sustainability-oriented financing, while emphasizing the role of policy support and financial inclusion in fostering SME resilience. Future research should further explore the implications of generative artificial intelligence, blockchain-based finance, and decentralized finance (DeFi) on SME financial sustainability.
Subrat Kumar Jena, Gayatri Palai, Asst. Prof. Rumana Hasinullah Shaikh
Abstract-The rapid expansion of the global gig economy has fundamentally changed the structure of personal finance management. Unlike salaried professionals who operate within predictable monthly income cycles, freelancers and independent contractors face highly volatile cashflow patterns characterized by delayed client payments, irregular project pipelines, seasonal fluctuations, and unstable liquidity reserves. Traditional Personal Financial Management (PFM) systems primarily focus on historical transaction tracking and static budgeting, making them ineffective for proactive financial survival planning in modern freelance ecosystems. This project introduces Prophet AI v1.1, an AI-driven financial intelligence platform engineered specifically to simulate, forecast, and analyze unstable freelance cashflow environments using distributed cloud infrastructure, cryptographic verification, and real-time neural intelligence. The proposed system functions as a Financial Flight Simulator that allows freelancers to model financial risk before it becomes catastrophic in real life. The platform combines machine learning-based forecasting, stochastic risk simulation, cryptographic integrity validation, asynchronous AI orchestration, and multilingual neural voice synthesis within a single integrated ecosystem. The system architecture follows a distributed deployment model consisting of a Next.js 14 frontend hosted on Vercel, a FastAPI Intelligence Gateway hosted on Render, and a Supabase PostgreSQL secure transaction vault. This decoupled architecture ensures scalability, modularity, low frontend latency, and reliable handling of long-running AI inference tasks. The financial forecasting engine utilizes a hybrid intelligence pipeline combining statistical forecasting principles and ensemble-based analytical logic. The platform generates 30-day rolling liquidity forecasts, safe spending corridors, and stress-based runway simulations that help users evaluate financial survival scenarios under varying burn conditions. Unlike conventional financial dashboards, Prophet AI introduces dynamic What-If simulation controls, allowing users to manipulate variables such as liquidity lag, expense escalation, and delayed client payments in real time. To establish institutional-grade trust and forensic-grade auditability, the system implements an Integrity Shield powered by the SHA-256 cryptographic hashing algorithm. Every transaction entered into the system generates a unique digital fingerprint using transaction attributes including amount, date, category, and user identification. This verification mechanism ensures that tampered or manipulated financial records cannot enter the intelligence pipeline, thereby maintaining a Verified Ledger architecture. The project additionally documents real-world deployment challenges involving decimal precision mismatches between JavaScript and Python environments and explains the implementation of strategic normalization bypass mechanisms for stable production deployment. The intelligence layer of Prophet AI is powered using Llama 3.3-70B via Groq infrastructure, enabling high-speed financial reasoning and structured JSON-based strategy generation. The platform utilizes a carefully engineered Ruthless Financial Strategist system prompt designed to deliver direct, survival-oriented financial recommendations rather than emotionally comforting advice. This design philosophy reflects the real-world operational needs of freelancers who require accurate liquidity warnings and actionable strategic insights during financial instability. The generated intelligence is converted into multilingual audio briefings using the edge-tts neural voice synthesis engine, supporting both English and Hindi voice outputs. To avoid cloud timeout failures and synchronous processing bottlenecks, the platform implements an asynchronous polling architecture using UUID-based job orchestration. The frontend submits a /briefing request and continuously polls a /briefing-status/{job_id} endpoint until the AI-generated strategy and MP3 briefing become available. This architecture enables the system to safely execute computationally expensive large language model inference and neural voice generation workflows even on limited-resource cloud infrastructure. The completed system demonstrates the practical integration of distributed AI infrastructure, cryptographic verification, asynchronous backend engineering, financial forecasting, and multimodal intelligence synthesis within a real-world production environment. Prophet AI v1.1 represents a transition from passive financial recordkeeping to proactive survival-oriented financial intelligence. The project establishes a scalable blueprint for next-generation AI-powered fintech systems capable of delivering real-time strategic decision support for the rapidly growing global freelance economy.Keywords-Freelance finance; cashflow forecasting; stochastic simulation
Abstract This study investigates racial and ethnic disparities in cryptocurrency (crypto) ownership using data from the 2021 Survey of Household Economics and Decision-Making (SHED). While prior research has explored general determinants of crypto market participation, such as risk tolerance, financial literacy, and investment experience, this study specifically focuses on how these factors differ across racial groups. Using logistic regression and Fairlie decomposition analysis, we find that Black respondents are significantly more likely to invest in crypto compared to White respondents. Key contributors to this disparity include age, financial literacy, risk tolerance, and stock ownership. Notably, while some factors, such as younger age and higher risk tolerance, narrow the participation gap, others, including differences in total savings and stock ownership, widen it. These findings highlight the need for targeted financial education and inclusive investment policies to promote equitable participation in emerging digital financial markets. Implications for financial literacy, consumer protection, and broader economic policy are discussed.
Financial technology (FinTech) has emerged as a key driver of financial inclusion, transforming access to payments, credit, savings, and insurance for households, small businesses, and underserved populations worldwide. This study synthesizes a decade of Scopus-indexed bibliometric and systematic-review research on FinTech and financial inclusion published between 2015 and 2025. Rather than conducting a new bibliometric extraction, it provides a comparative synthesis of major peer-reviewed review studies, consolidating evidence on publication trends, intellectual structure, geographic distribution, and emerging research themes. The findings reveal rapid growth in scholarly output since 2016, led by China, India, the United States, and the United Kingdom. Dominant themes include digital payments, mobile money, regulatory technology, artificial intelligence, decentralized finance, financial literacy, SME finance, and sustainability-oriented digital finance. The review identifies persistent gaps in low-income regions and limited integration of AI and ESG perspectives. It offers a consolidated evidence base and proposes directions for future research, policy formulation, and practice.
The rapid emergence of contemporary financial concepts—such as decentralized finance, cryptocurrency, and algorithmic trading—has necessitated an advanced level of digital literacy to maintain and achieve financial well-being. This paper presents a comprehensive mixed-methods study to explore the intersection of these domains. The qualitative phase utilizes a News-Reflection Analysis (NRA) of 150 mainstream financial news articles from 2021 to 2025, yielding a robust coding framework and foundational propositions. Building upon these qualitative insights, the quantitative phase employs Partial Least Squares Structural Equation Modelling (PLS-SEM) on a simulated dataset of 450 respondents. We test a conceptual model integrating Contemporary Financial Concepts (CFC), Digital Literacy (DL), Financial Behavior (FB), and Financial Well-Being (FWB). Findings reveal that while CFC positively influences financial behaviour, digital literacy serves as a critical moderator, significantly amplifying the translation of complex financial knowledge into tangible well-being. This paper provides a Q1-journal-ready framework, complete with qualitative coding schemes, an advanced SEM path diagram, simulate hypothesis testing, and a rigorously validated 22-item measurement instrument.
This paper examines cryptocurrency adoption among unbanked, underbanked, and fully banked households in the United States, using data from the 2023 FDIC National Survey of Unbanked and Underbanked Households; the first wave of the survey to include household-level information on cryptocurrency usage. We estimate a Probit model, supplemented by Logit and Linear Probability Model (LPM) specifications as robustness checks, to assess whether underbanked and unbanked households are more likely to adopt cryptocurrency than fully banked households, controlling for a range of demographic and socioeconomic factors. The results consistently show a statistically significant and positive association between underbanked status and the likelihood of cryptocurrency use across all model specifications. Specifically, underbanked households are 1.9 to 2.1 percentage points more likely to use cryptocurrency than their fully banked counterparts, suggesting that cryptocurrency functions as an alternative financial tool for the partially excluded. In contrast, unbanked households either show no statistically significant difference or exhibit a small negative association with cryptocurrency adoption, indicating that cryptocurrency is neither a substitute for formal financial services among the completely excluded nor widely adopted by the fully included. This suggests that those with full access to the financial system likely do not feel the need to seek alternatives. Cryptocurrency adoption is also shaped by key demographic and socioeconomic factors. Younger individuals, men, White respondents, those identifying with two or more races, and individuals with higher income and education levels are significantly more likely to adopt cryptocurrency. Overall, the findings highlight the nuanced role of cryptocurrency as a supplemental financial instrument for the underbanked, rather than a comprehensive solution to financial exclusion particularly for the unbanked.
This research paper provides an exhaustive and multi-dimensional analysis of the relationship between financial literacy and the investment behaviors of the teenage demographic (ages 13–19). In the contemporary era, characterized by the "fintech revolution" and the ubiquitous nature of digital assets, traditional barriers to entry in financial markets have largely disintegrated. Consequently, adolescents are now engaging with highly complex and volatile financial instruments, including fractional equities, cryptocurrencies, and non-fungible tokens (NFTs), often before they have attained a basic understanding of economic principles. This study identifies a critical "literacy-participation gap" that exposes young investors to unprecedented risks. Utilizing a qualitative-descriptive meta-synthesis, the paper integrates perspectives from behavioral economics, social learning theory, and adolescent neurobiology to evaluate how varying levels of financial knowledge influence risk perception, asset selection, and long-term financial health. The findings suggest that while high levels of financial literacy correlate with diversified portfolios and risk-mitigation strategies, the "gamified" architecture of modern trading platforms and the influence of social media "finfluencers" often override rational decisionmaking processes. The paper concludes with an urgent call for a paradigm shift in financial pedagogy, advocating for the integration of digital media literacy and behavioral psychology into standard secondary education to foster a more resilient generation of investors.
Traditional measures of per capita income, including GNI per capita, GDP per capita, and PPP-adjusted variants, fail to account for a critical dimension of economic capacity: access to financing and financial infrastructure. This paper proposes a novel framework—Credit-Augmented Per Capita Income (CAPCI)—which adjusts nominal income by a Finance Access Multiplier (FAM) derived from household debt-to-income ratios and financial inclusion metrics. Using data from the World Bank, IMF, and academic sources, we demonstrate that finance access effectively allows individuals in developed economies to "pull future earnings into the present," creating a temporal arbitrage effect that dramatically amplifies economic capacity relative to counterparts in developing regions. Our illustrative calculations suggest that the true economic disparity between developed economies (e.g., USA) and developing regions (e.g., Sub-Saharan Africa) is approximately approximately 32% greater than nominal per capita income figures suggest—rising from a 45× nominal gap to approximately 60× when finance access is properly accounted for using a credit discount coefficient. This finding has significant implications for understanding the relevance and imperative for financial inclusion and its relation to global inequality and designing development policy initiatives to incentivize growth. A Critical Distinction: Household Finance vs. Sovereign Debt. It is essential to distinguish the framework proposed here from advocacy for increased sovereign borrowing. Centralized debt—loans to the state—has a troubled track record in African nations, often resulting in large national debt burdens with limited developmental impact. Our framework is fundamentally different: we advocate for empowerment of individuals, households, and communities through access to personal and business financing infrastructure. A key indicator of healthy financial development is the ratio of collective household debt to national debt—a ratio that is substantially higher in developed economies. When households can access mortgages, business loans, entrepreneurship capital, and consumer finance, economic capacity is distributed and multiplied at the grassroots level, rather than concentrated in state apparatus. This distributed (decentralized) approach to financial empowerment represents a fundamentally different path to development than sovereign borrowing.
Many poor long-term financial decisions are not “choices” but symptoms of a psychological state called Learned Helplessness. This is the belief, often learned from past setbacks, that one has no control over outcomes, leading to passivity and avoidance. In finance, this manifests as a belief that “it doesn’t matter what I do, I’ll never get ahead.” This is academically defined as an External Locus of Control, the belief that one’s financial future is in the hands of luck or external forces, not personal effort. An External Locus of Control can be directly linked to saving significantly less for retirement and avoiding proactive financial planning. In this research, we attempt to predict cryptocurrency engagement, given it's attractiveness for people who feel that traditional, effort-based financial structures are futile, as a function of beliefs about people's locus of control of their finances, planning horizon, and self-efficacy.
In this article, we compare financial knowledge levels and identify the determinants of financial attitudes among 16-20-year-old students in Italy and the Autonomous Community of Galicia (Spain). We combine cross-country comparative evidence with data-driven variable selection based on machine learning techniques and theory-driven modelling of financial attitudes. Our study offers an original contribution to the literature on youth financial literacy and behaviour in emerging digital financial domains, namely instalment-based credit solutions and cryptocurrency investments. Our findings reveal that Galician students display higher average financial knowledge than Italian ones and have a higher propensity to use instalment payments and to invest in cryptocurrencies. Financial knowledge plays a central role in shaping both credit and investment attitudes, alongside experience, income, and behavioural traits, with significant cross-country differences. More specific knowledge in each domain is associated with more cautious attitudes, suggesting that deeper understanding relates with more prudent behaviour. Among Italian educational pathways, technical institutes appear to be the only track able to substantially reduce the literacy gap. These insights highlight the need for a reform of financial education pathways, with greater emphasis on experiential learning and student-involving teaching strategies.
Traditional measures of per capita income, including GDP per capita and PPP-adjusted variants, fail to account for a critical dimension of economic capacity: access to financing and financial infrastructure. This paper proposes a novel framework-Credit-Augmented Per Capita Income (CAPCI)-which adjusts nominal income by a Finance Access Multiplier (FAM) derived from household debt-to-income ratios and financial inclusion metrics. Using data from the World Bank, IMF, and academic sources, we demonstrate that finance access effectively allows individuals in developed economies to "pull future earnings into the present," creating a temporal arbitrage effect that dramatically amplifies economic capacity relative to counterparts in developing regions. Our illustrative calculations suggest that the true economic disparity between developed economies (e.g., USA) and developing regions (e.g., Sub-Saharan Africa) is approximately 74% greater than nominal per capita income figures suggest—rising from a 53× nominal gap to approximately 92× when finance access is properly factored in with a credit discount coefficient. This finding has significant implications for understanding the relevance and imperative for financial inclusion and its relation to global inequality and designing development policy initiatives to incentivize growth. A Critical Distinction: Household Finance vs. Sovereign Debt. It is essential to distinguish the framework proposed here from advocacy for increased sovereign borrowing. Centralized debt—loans to the state—has a troubled track record in African nations, often resulting in large national debt burdens with limited developmental impact. Our framework is fundamentally different: we advocate for empowerment of individuals, households, and communities through access to personal and business financing infrastructure. A key indicator of healthy financial development is the ratio of collective household debt to national debt—a ratio that is substantially higher in developed economies. When households can access mortgages, business loans, entrepreneurship capital, and consumer finance, economic capacity is distributed and multiplied at the grassroots level, rather than concentrated in state apparatus. This distributed (decentralized) approach to financial empowerment represents a fundamentally different path to development than sovereign borrowing.
Decentralized finance liquidity providers (LPs) who use their Uniswap v3 positions as collateral on lending platforms such as Aave often face liquidations because these platforms rely on fixed Loan-to-Value (LTV) rules. These rules do not account for Impermanent Loss which can increase rapidly when asset prices move outside an LP's chosen price range. To address this, we simulated Uniswap v3 LP positions using historical ETH/USD price data and compared the standard fixed-LTV lending model with a hybrid risk-management framework that incorporates stress testing and dynamic exposure reduction. Under the conventional 65% LTV model, liquidations were frequent, with 39,649 liquidation events observed over roughly a decade of daily price data (2015-2025). The proposed framework reduced liquidations by 97.66% while maintaining healthier collateral positions, achieving this through adaptive reductions in effective leverage rather than full liquidation. These findings suggest that incorporating impermanent loss-aware risk controls into DeFi lending protocols could significantly reduce liquidations while keeping leveraged positions safer through periods of volatility. By combining the accessibility of DeFi with the risk management techniques used in traditional finance, lending platforms can become more stable and efficient, benefiting liquidity providers.
The user-ownership model of Web3 commerce is widely viewed as a potential paradigm shift for the digital economy, yet its macroeconomic implications remain under-quantified within a unified, dynamic, and parameterized framework. This paper develops a tractable dynamic macroeconomic model of a “wealth flywheel” featuring two feedback channels. The income loop operates through profit-backed user rebates that raise income-equivalent purchasing capacity and stimulate consumption. The asset loop operates through consumption-driven profit and valuation growth, which expands household wealth under user ownership and feeds back into consumption via wealth effects. In a static setting, the paper derives a closed-form consumption multiplier and a corresponding stability condition. Aggregate consumption responds proportionally to an exogenous income impulse, and the system is stable if the combined strength of rebate-induced consumption feedback and wealth-effect amplification remains below unity. The static mechanism is then embedded into a global multi-period simulation framework with time-varying Web3 penetration, finite-horizon household deposit reallocation into consumption, and endogenous valuation paths. Using illustrative parameterizations, the paper simulates trajectories for global real GDP, equity market capitalization, household wealth, and inflation under neutral and aggressive adoption scenarios. The analysis further examines distributional implications when capitalization gains are directed toward user cohorts with higher marginal propensities to consume. The framework provides a parsimonious diagnostic for stability in mechanism design and contributes to macro-prudential discussions of self-reinforcing growth dynamics. Importantly, the analysis abstracts from collateralized borrowing, leverage, rehypothecation, and other financial intermediation channels. All amplification effects in the model arise from ownership structure and wealth effects rather than from credit-driven financial accelerators.
This paper presents a model in which risk-averse individuals can purchase insurance via traditional indemnity contracts or Decentralized Finance (DeFi) smart contract-based instruments. The model incorporates key features of DeFi insurance, including parametric payouts, basis risk arising from imperfect loss verification and pooled collateralization involving the risk of liquidity shortfalls. We characterize optimal insurance choices as a function of pricing, payout correlation and risk preferences. Numerical results show that DeFi insurance can complement or replace traditional coverage, improving welfare when basis and default risks are moderate or pricing advantages are substantial. The analysis reveals how DeFi-specific frictions shape insurance demand and provides insight into how DeFi instruments may shift market structure and expand the set of attainable risk transfer outcomes.
Alexandru Ursu, Petru Lucian Curșeu, Sabina Trif, Alina Maria Fleştea
Cryptocurrencies are rapidly transforming digital finance and entrepreneurship, yet their adoption by entrepreneurs remains rather poorly understood. Drawing on the Threat-Rigidity Model (TRM) and the opportunity recognition literature, this study examines how entrepreneurial experience, financial literacy, perceived opportunities, and perceived threats influence entrepreneurial intention to use cryptocurrencies. We tested a moderated mediation model in which the association between financial literacy and experience, on the one hand, and intention to use cryptocurrencies, on the other, was mediated by perceived opportunities. In this model, perceived threats served as a moderator on the relationship between financial literacy and intention, as well as between perceived opportunities and adoption intention. Data were collected from a sample of 133 Romanian entrepreneurs across diverse industries. The results supported the mediating role of perceived opportunities in the relationship between financial literacy and intention to use cryptocurrencies in business and showed that the positive association between financial literacy and intention was attenuated by perceived threats. Entrepreneurial experience did not significantly influence perceived opportunities, while women entrepreneurs reported lower intention to adopt cryptocurrencies in business. This study is among the first to use the TRM to explore how the interplay of perceived opportunities and threats shapes cryptocurrency adoption in entrepreneurship. Other implications, limitations, and directions for future research are also discussed.
Purpose: The paper discusses the intersection of financial literacy and digital asset education as an inherent determinant of the emergence of a new wave of self-made millionaires in America. As conventional means to wealth creation become ever more tenuous, especially for Millennials and Gen Z, advances in digital technology, including cryptocurrency, decentralized finance (DeFi), non-fungible tokens (NFTs), and e-business present unparalleled opportunities. The article investigates the key role played by financial literacy in empowering individuals to access these new avenues. Materials and Methods: A mixed-method research design was employed in this study. The paper employs current data published by Pew Research, Chainalysis, Fidelity, and the Global Financial Literacy Excellence Center. The research also employs qualitative interviews and public case profiles of investors and digital entrepreneurs. Findings: The most successful lasting success factor among the new digital millionaires is not inherited wealth or high income, but rather high financial and digital literacy levels. Case studies of individuals who have utilized cryptocurrency investing, digital enterprises, and online learning to attain prosperity prove the trend. Furthermore, this paper presents a comparative review of traditional and digital wealth creation models. Implications to Theory, Practice, and Policy: The study proposes a redefinition of financial literacy to include blockchain, tokenomics, and platform-based earnings. Practically, it summons schools, governments, and financial institutions to incorporate digital financial literacy into education and advisory services. Policy implications are public funding for Web3 education, support for digital entrepreneurship, and the decentralization of access to wealth-building.
The behaviour in finance of the Millennial and Gen-Z population in India is explored in this research paper with respect to digital adoption, lifestyle spending, and investment patterns. A descriptive research design is adopted, and the analysis is based on secondary data collected from 80 research articles published in reputed journals. The results reveal that both generations are greatly influenced by the digital revolution, with high usership of mobile wallets, investment applications, and online banking sites such as Paytm, Groww, and Zerodha. Impulsive buying behaviour and brand loyalty are shaped mainly by social media, peer networks, and advertisements. While the two generations could be dubbed computer-savvy, behavioural differences are apparent. The Millennials (1981-1996), with greater financial liabilities, favour the generally secure, low-risk avenues of investment such as SIPs, real estate, and retirement funds. Gen Z (1997-2012) prefers the high-risk/high-reward financial instruments of the stock market and cryptocurrencies. The study also mentions the effects of regional disparities, where urban youth have a greater voice in fintech or financial literacy, while rural youth are more comfortable with traditional savings. The pandemic has redefined the financial priorities of both generations, enhanced digital financial practices while urged cautious financial strategies. Millennials were thus inclined to long-term savings and debt reduction, while Gen Z appeared to be dipping its toes into decentralized finance and alternative income streams. The ever-evolving technology trends, imminent socio-economic changes, and financial behaviours that are synonymous with the priorities of a certain life stage are the highlights of the study. It calls for longitudinal research in the near future to measure generational change, while stressing the need for region-based financial education and tools designed for the youth's aspirations in a rapidly changing economy.
Purpose – is to provide evidence of how social networks act as an indispensable channel in the cryptocurrency phenomenon and its public perception, analysing the context in which it occurs, as well as the patterns followed and the most commonly used channels. Research methodology – this article explores and provides evidence on the relationship between cryptocurrencies and social networks through the use of digital social listening tools, exploring data retrieved from the most prominent social networks, as well as websites, forums and blogs. Findings – the urgent need to provide an adequate level of financial education in the digital economy. Research limitations – the study should be carried out by age segments to assess whether it is only a problem of the younger population, which are the habitual users of social networks. Practical implications – the cryptocurrency user or investor is aware of the existing risks associated with cryptocurrencies, especially among the young population, without underestimating the influence that social networks have had and continue to have on the perception and acceptance of digital currencies, and even on their popularity. Originality/Value – investing in cryptocurrencies requires social responsibility on the part of institutions, demanding adequate legislation and financial training for potential investors.
The creative environment has transformed because of the digital economy's explosive growth, particularly for digital artists who now produce, distribute, and monetize their work primarily through online channels. To preserve the financial sustainability of digital art actors, this study aims to investigate how digital financial literacy serves as a supporting element in crowdfunding and microfinance. Two hundred respondents working in various digital art domains, including graphics, music, and non-fungible tokens (NFTs), were surveyed using a quantitative methodology. The study's findings, obtained using the Structural Equation Model (SEM) and SmartPLS software, demonstrated that microfinance has a statistically negligible and detrimental impact on the long-term financial viability of actors involved in digital art. Crowdfunding, on the other hand, significantly improves their financial viability. Furthermore, financial sustainability is positively and significantly impacted by digital financial literacy. The impact of microfinance on the long-term financial viability of digital creative players is mitigated by digital financial literacy. To enhance the resilience of creative professionals in an increasingly digital economy, this study emphasizes the importance of integrating financial education with training in digital skills. The study's practical implications include suggestions for legislators, professionals in the creative sector, and academic institutions to develop targeted initiatives that may enhance the financial viability of digital arts practitioners. To further understand the connection between digital financial literacy and the sustainability of the creative economy, further study is advised that it uses a longitudinal approach and cross-national comparisons.