Feeroj Nasirkhan Pathan, Amarsingh Udhavrao Solanke, Mr. Wasim Taher Khan, Dr. Mangesh Manohar Dasare
The vision of Viksit Bharat 2047 seeks to transform India into a developed, inclusive, and globally competitive nation by the centenary of its independence. Achieving this vision requires a digitally enabled financial system that promotes innovation, expands financial inclusion, and supports sustainable economic growth. In this background, Financial Technology (FinTech) has emerged as a key driver of India's digital transformation. India's FinTech ecosystem has grown quickly with the support of Digital Public Infrastructure (DPI), including Aadhaar, Pradhan Mantri Jan Dhan Yojana (PMJDY), Unified Payments Interface (UPI), DigiLocker, India Stack and e-KYC. These initiatives have expanded access to financial services, accelerated digital payments, enhanced access to formal credit, strengthened public service delivery, and encouraged wider participation in the Indian economy. Emerging technologies such as artificial intelligence, blockchain, cloud computing, big data analytics, and application programming interfaces (APIs) have additionally enhanced the efficiency and accessibility of financial services. This chapter examines the role of FinTech in advancing the vision of Viksit Bharat 2047 by promoting financial inclusion, strengthening Digital Public Infrastructure, supporting entrepreneurship, improving governance, and fostering sustainable economic development. It also examines key challenges, that influence the long-term growth of the sector. It concludes that FinTech is more than a technological innovation; it is a strategic move of India's economic transformation.
While decentralized fintech platforms (DFPs) are a viable alternative to traditional financial systems, their widespread adoption is hindered by cybersecurity concerns. This study investigates the factors shaping user intentions to adopt DFPs amid these perceived cyber risks. Situated within the global challenge of financing the Sustainable Development Goals (SDGs), this research explores DFP adoption as a potential mechanism for enhancing financial inclusion (SDG 10), fostering innovation in financial infrastructure (SDG 9), and promoting inclusive economic growth (SDG 8). Using a hybrid model that merges the technology acceptance model with trust theory, we surveyed 554 business and engineering students across five Indian metropolitan hubs a demographic representing a tech-forward segment of Gen Z poised to be early adopters. Structural equation modelling reveals that while fintech literacy and risk tolerance are significant preconditions, adoption intention is most powerfully predicted by social influence (β = 0.271, p < 0.001) and perceived security in the underlying technology (β = 0.186, p < 0.000). This suggests that for these vanguard users, the decision to adopt is driven more by social validation and technological faith than by individual technical competency. Furthermore, trust moderates the relationship between fintech literacy, perceived security and risk tolerance on the intent to adopt. The paper contributes a comprehensive framework that clarifies users’ adoption motives, aiding researchers who study DFP user behavior in developing nations. The findings provide a critical roadmap for policymakers, developers, and international development agencies aiming to harness digital finance for the 2030 Agenda, demonstrating that building trusted, community-driven ecosystems is paramount to realizing the developmental potential of decentralized technologies.
India's Unified Payments Interface (UPI) processes billions of transactions monthly across dozens of Payment Service Providers (PSPs). However, a structural architectural gap persists: no single entity maintains a unified, real-time, immutable view of an individual's complete financial transaction graph across competing platforms. This fragmentation has become the primary mechanism enabling complex UPI digital payment fraud and mule-account networks. Scammers easily spin up identities across multiple platforms, quickly cascade stolen funds across PSP boundaries, and discard the handles, leaving a broken trail that takes weeks for law enforcement to piece together. This white paper proposes the Universal Financial Identity (UFI) system—a sovereign, mobile-number-anchored financial identity layer that federates all of a user's UPI handles, bank accounts, and Central Bank Digital Currency (CBDC/e-Rupee) wallets into a single, immutable distributed ledger record. Key Architectural Features: Zero-Action Trigger Mechanism: The permanent UFI record (formatted as <mobilenumber>@ufi) is generated automatically in the background at the exact moment a user links any bank account to a UPI application, requiring zero user friction. Immutable Distributed Ledger Layer: Operates as a permissioned Hyperledger Fabric network managed by sovereign nodes (RBI, NPCI, and authorized banks), rendering transaction trails cryptographically non-erasable and resilient against app-side account deletions. Graph Intelligence Layer: Integrates native Neo4j graph analytics for real-time, cross-PSP fraud ring detection, rapid fund-movement velocity tracking, and automated fan-in pattern profiling. Programmable Money Integration: Leverages India's e-Rupee infrastructure to enable purpose-bound, geography-restricted, and expiry-enforced smart contract payments for public welfare disbursements (DBT) and B2B settlements. DPDP Act 2023 Compliance: Built with privacy-by-design principles, using salted SHA-256 identity tokenization and multi-tiered, consent-gated access frameworks via the Account Aggregator network. This protocol layer sits seamlessly below existing Third-Party Application Providers (TPAPs) and above core settlement switches, offering real-time cross-PSP fraud tracing and post-deletion identity recovery without introducing latency into synchronous payment pathways. This paper is released for open public community review, protocol exploration, and technical feedback prior to formal provisional patent filings with the Indian Patent Office (IPO).
Introduction This study examines how decentralized social media platforms are reshaping participatory communication and platform governance in contemporary digital environments. Drawing on a socio-technical perspective, the analysis explores how blockchain infrastructures, token-based economies, and community-driven rule-making reconfigure established models of media control, participation, and authority. Methods Using a qualitative mixed-method approach that combines a structured review of prior research with expert interviews from the Web3 ecosystem, the study develops an integrative analytical framework that captures the evolving relationships between infrastructure, participation, and governance in decentralized platforms. Results By conceptualizing decentralization as a transformation in communicative power rather than a purely technical shift, the paper shows how user agency, trust, and visibility are negotiated through programmable infrastructures and collective governance mechanisms. While decentralized systems promise greater autonomy and transparency, the findings also highlight persistent tensions related to usability, equity, and regulatory ambiguity. Discussion By situating these tensions within broader debates on platform governance and digital communication, the study contributes to communication scholarship on emerging media systems and offers insights into the societal implications of decentralized digital infrastructures.
India’s aspiration to emerge as a developed nation by 2047 under the vision of Viksit Bharat necessitates the identification and scaling of localized innovations. Odisha, characterized by its socio-cultural diversity and rapid technological transition, presents a compelling case as a living laboratory for future-ready developmental models. This study positions Odisha at the intersection of three transformative domains: algorithmic welfare systems, governance challenges arising from silent urbanization, and the digitization of cultural heritage through Web3 technologies such as NFTs. By integrating quantitative modeling, qualitative fieldwork, and policy analysis, the study proposes a framework for culturally rooted, inclusive, and decentralized development. The findings suggest that Odisha’s experiments in adaptive welfare delivery, the recognition of hybrid urban spaces, and digital cultural economies not only address local challenges but also offer scalable insights for national policy. The state thus emerges as a microcosm of a technologically empowered, socially equitable, and culturally vibrant Viksit Bharat.
Trust underpins democracy and monetary systems, yet centralized intermediaries—election commissions and central banks—increasingly betray this trust. India's recent electoral crises (in 2025), including Bihar's removal of 6.5 million voters and documented irregularities across states, expose democracy's vulnerability to manipulation by single authorities. Simultaneously, inflation at 6.7% erodes savings as central banks devalue currency through unchecked money printing. This essay argues that blockchain technology offers a revolutionary solution by replacing corruptible human gatekeepers with mathematically verifiable, distributed ledger systems. Drawing parallels between electoral fraud and monetary devaluation, I demonstrate how decentralized technologies can restore trust through transparency and eliminate single points of failure. However, the critical choice remains: will societies adopt truly decentralized systems, or embrace government-controlled digital currencies that deepen surveillance and control? The future of democratic and economic freedom hangs in the balance.
The digital payments landscape is undergoing a fundamental transformation fueled by innovative technologies like blockchain. While often associated with cryptocurrencies, blockchain's potential extends far beyond mere transactional efficiency. This distributed ledger technology offers a unique blend of security, transparency, and immutability, making it a compelling avenue for reshaping the very nature of digital payments. Purpose: The research paper will offer insights into the theoretical foundations, practical use cases, and potential challenges of integrating blockchain technology with existing systems in India. Objective: This research paper aims to deliver a comprehensive conceptual understanding of blockchain technology, its potential applications in digital payments, and its relevance within the context of India Stack. Research outcome: The study concluded that rising internet users and adoption of technology by the financial institutions and banking sector transformed the India as fastest growing economy in terms of digital payment systems.
The informal economy of Sub-Saharan Africa accounts for roughly 85% of total employment in Kenya, Uganda, and Ghana, and most of the people working in it cannot get formal credit. This review is bounded to those three markets; Nigeria, the region's largest credit market, is excluded and identified below as the most consequential gap in market coverage. The decade of mobile-based digital lending that followed the launch of M-Shwari in 2012 was a partial correction. It widened access, but it also produced mass blacklisting, over-indebtedness, and outcomes that landed hardest on women and other underserved borrowers. It ran, moreover, on data-extraction practices (contact-list harvesting, device fingerprinting, behavioural telemetry) that are now prohibited across all three target markets. This review sets out the technical and theoretical groundwork for a successor architecture: a privacy-preserving, edge-native credit system built on consented data. The organising claim is that credit exclusion in low-information markets is, at bottom, an information asymmetry problem, and that the structure of peer transaction networks is a form of quantifiable social collateral that can partially close the gap without the extractive practices regulators have moved to stop. Against that frame, we work through four literatures: the empirical record of alternative credit scoring and its failure modes; the regulatory shift that has made extractive architectures legally untenable; the privacy-preserving machine learning stack (federated learning with differential privacy, fully homomorphic encryption, and zero-knowledge proofs) and the real cost each guarantee carries; and graph neural network architectures for financial risk, including their vulnerability to adversarial manipulation. We also ask whether sub-2B-parameter models, quantized to INT4, can run on the low-end Android hardware that target borrowers actually own. Two further problems sit underneath these four and are treated as first-order rather than incidental. The first is that consent in a relational setting is not the same object as consent in an individual one: scoring a borrower from the structure of their transaction graph implicates the counterparties in that graph, and the literature on consent has barely begun to model this. The second is that an architecture built to expand across domains, from finance into agriculture and eventually health, expands its governance surface at the same rate, and the contextual-integrity principle that justifies the credit model also constrains where that data may travel. The most consequential research frontier is not inside any one of these areas. It is at their meeting point: private training of graph-structured models is unsolved, benchmark results have never been tested against African mobile money networks, and the compounding accuracy costs of privacy, quantization, and fairness have not been characterised jointly. We identify the gaps S Labs Finance AI will address, while refusing throughout the comfortable assumption that a privacy-preserving credit model is automatically a welfare-improving one. This revision adds a consolidated execution-risk register and a prioritised contribution roadmap (Sections 5 and 6) synthesised from an internal review of the Phase 1 draft. Coverage is primarily peer-reviewed work from 2019 to 2025, with grey literature (regulatory instruments, industry benchmarks, arXiv pre-prints) included where peer-reviewed equivalents do not yet exist. Jurisdictional coverage is similarly bounded: this review treats Kenya, Uganda, and Ghana as the target markets and does not examine Nigeria's regulatory regime (CBN consumer-protection guidelines, the NDPA) or its competitive landscape (FairMoney, Carbon, Renmoney, Branch Nigeria, Kuda). Given Nigeria's scale, this is flagged as a priority extension rather than a settled exclusion
Financial exclusion remains acute in Sub-Saharan Africa, where more than 350 million adults lack access to formal financial services. A defining barrier is the absence of verifable identity: in countries such as Mozambique, Tanzania, and Niger, over half of adults without mobile money accounts cite missing documentation as the primary obstacle. Existing remedies either centralise sensitive personal data, creating systemic privacy and security risks, or demand document-issuing infrastructure that does not yet exist in many communities. This paper proposes ZKP-IDFS (Zero-Knowledge Proof Identity for Financial Services), a decentralised, privacy preserving digital identity framework that lets individuals prove identity-related predicates to financial institutions without disclosing the underlying personal attributes. ZKP-IDFS combines Groth16 zk-SNARKs for succinct on-chain proof verification, Pedersen commitments for attribute hiding, a W3C-compliant Verifi-able Credential layer, and a lightweight USSD/SMS proof-relay channel designed for feature-phone users in low-connectivity environments. We formalise the cryptographic model, specify the system architecture, and present a simulated performance evaluation across four representative network conditions. Results from a controlled simulation study show that end-to-end proof generation and relay complete in under 4.2 seconds on entry-level Android handsets at 3G speeds, with on-chain verication costs below 0.003 USD on an EVM-compatible layer-2 chain; these results require validation in eld deployments. We further demonstrate compliance with FATF risk-based KYC guidance and with emerging African data-protection legislation.
Addressing educational inequity in Sub-Saharan Africa, this research presents an autonomous agent-orchestrated framework for decentralized, culturally adaptive educational content generation on edge devices. The system leverages four specialized agents that work together to generate contextually appropriate educational content. Experimental validation on platforms including Raspberry Pi 4B and NVIDIA Jetson Nano demonstrates significant performance achievements. InkubaLM on Jetson Nano achieved a Time-To-First-Token (TTFT) of 129 ms, an average inter-token latency of 33 ms, and a throughput of 45.2 tokens per second while consuming 8.4 W. On Raspberry Pi 4B, InkubaLM also led with 326 ms TTFT and 15.9 tokens per second at 5.8 W power consumption. The framework consistently delivered high multilingual quality, averaging a BLEU score of 0.688, cultural relevance of 4.4/5, and fluency of 4.2/5 across tested African languages. Through potential partnerships with active community organizations including African Youth & Community Organization (AYCO) and Florida Africa Foundation, this research aims to establish a practical foundation for accessible, localized, and sustainable AI-driven education in resource-constrained environments. Keeping focus on long-term viability and cultural appropriateness, it contributes to United Nations SDGs 4, 9, and 10. Index Terms - Multi-Agent Systems, Edge AI Computing, Educational Technology, African Languages, Rural Education, Sustainable Development, UN SDG.
Urban-rural dichotomy is a poaching challenge to inclusive economic growth and sustainable development across the world. Such imbalance is commonly defined by unequal access to infrastructure, economic opportunities and good public services. This paper discusses how digital technologies, such as broadband, mobile applications, e-commerce, and precision farming tools, are transformative solutions that can be important tools in bridging this gap, economic opportunities, and sustainable livelihoods in rural society. The main hypothesis is that the traditional "urban bias" can be reversed by using specific digital interventions to reduce the transaction costs, widen the market reach, and decentralize the access to knowledge and finance.
Emerging digital economies are increasingly exploring decentralized infrastructures to expand citizen participation and reduce reliance on a small number of dominant service providers. Indonesia, one of the fastest-growing economies in the global south, has significant potential to integrate Web3 technologies into its national Digital Public Infrastructure. While previous DPI initiatives in countries such as India and Estonia have shown the value of open standards and low-cost digital services, there is limited research on how decentralized systems can support higher level digital functions. This paper examines how real-world asset tokenization can serve as an important DPI component for Indonesia. The study analyzes global initiatives in asset tokenization and decentralized identity systems and evaluates how similar approaches can be adapted to Indonesia's socioeconomic environment. The paper argues that open protocols, standardized APIs, and community operated nodes can create a transparent and interoperable infrastructure for tokenized assets. This approach would allow local communities to participate directly in validating asset information and supporting network operations.
David Olanrewaju Akisanmi, Olugbenga Itunu OGUNDERU
With Lagos facing significant challenges due to rapid urbanization, including inefficient food distribution systems and limited market access for farmers, this decentralized approach proposes an innovative solution. By leveraging blockchain technology, decentralized finance (defi), and smart contracts, the platforms aim to streamline transactions, reduce intermediaries, and ensure fair pricing. This paper explores the potential of utilizing Telegram decentralized web-3 mini-applications as e-commerce platforms to connect smallholder farmers with structured markets, enhancing the sustainability of food supply chains in Lagos, Nigeria. The paper examines the role of these technologies in improving transactional transparency, empowering smallholder farmers, and fostering equitable participation in the urban food supply system. It also proposes a comprehensive framework for platform implementation, assessing its potential economic, environmental, and social impacts. The study recommends a pilot project, policy advocacy, capacity building, and scalability plans to ensure the platform’s success and long-term sustainability. Ultimately, this decentralized e-commerce platform holds promise for revolutionizing food supply chains, empowering farmers, and promoting sustainable development in Lagos and other regions across Nigeria and Africa.
There is growing demand for innovation in social sector fundraising.The conventional model relies on emotions rather than evidence, brand recognition instead of outcomes and marketing over impact.In this paper, we sketch out a prototype for an online giving platform modelled on a Pay for Success mechanism where donors pay retroactively for tangible impact already achieved.It uses impact certificates, currently limited to the carbon credits industry, to fund verified past impact from three civic participation organizations in India.The demo shows how blockchain can ensure single sale per outcome and enforce a fundraising cap based on impact created.Drawing on the historical database of over 5000 impact reports of the three partner organizations, we minted 27 impact certificates on the Ethereum testnet.Over the course of creating the demo, we raised USD 4034 from 133 contributors through the donation matching platform Gitcoin for purchase of these certificates.
Open access
ICT in Developing Communities
E-Government and Public Services
Innovative Approaches in Technology and Social Development
Bruno Henrique Sanches, Marlei Pozzebon, Eduardo Henrique Diniz
Abstract Westernised paradigms dominate the information systems (IS) field, often overshadowing alternative epistemologies. This study challenges the prevailing hegemonic view and contributes to the decolonization of IS research and practice by proposing a Latin American and decolonial approach to technological development that emphasises community centrality and epistemic justice through recognition of local knowledges and Indigenous traditions. Using design ethnography, we follow the development of a solidarity cryptocurrency in a Brazilian favela. Our paper offers two key contributions. By introducing tecnologia social , an underrepresented perspective in IS, we highlight ecology of knowledges, centrality of the local and decolonial reconfiguration as principles that can enrich the understanding of IS projects from a decolonial perspective. In addition, we propose a new concept—epistemic dialogical tension—as a process wherein different epistemologies coexist and accommodate each other, encouraging a dynamic interplay of distinct human experiences and worldviews. It offers new paths to IS scholars and practitioners in navigating the complexities of epistemic plurality. We argue that tecnologia social and epistemic dialogical tension provide fertile ground for developing reimagined, decolonized approaches where multiple epistemologies can coexist, favouring the often‐silenced communities they are intended to benefit.
Aman Shekhar, Sagar Vashnav, Rishav Jha, Pallavi Pandey
Refugees seeking asylum in India often face numerous challenges, including a lack of legal documentation, limited access to essential services, and the risk of exploitation. In this paper, we propose a decentralized system that leverages smart contract technology to create digital identities for refugees, enabling them to access essential services such as employment and housing. Our system stores all their data, including biometrics, in a secure and decentralized manner on the Ethereum blockchain. Based on this data, we create a working permit and a temporary identification card in the form of non-fungible tokens (NFTs) that can be used to access essential services. Additionally, we create a crypto wallet linked to their digital identity, enabling them to perform regular transactions like purchasing rations, paying for their housing and electricity bills and other necessities. Furthermore, we would design a smart contract that tracks the refugees’ monthly income and provides government financial aid directly to their crypto wallet. The contract also automatically adjusts the amount of financial aid based on the refugee’s income, ensuring an even and non-corrupted distribution of government funds. Through our system, we aim to empower refugees with financial stability, enabling them to lead healthy and productive lives while contributing to India’s economy. Our solution is transparent, secure, and easily accessible, making it a viable option for addressing the challenges faced by refugees in India.
Faiqah Hafidzah Halim, Nor Aimuni Md Rashid, Nur Farahin Mohd Johari, Muhammad Amirul Hazim Abdul Rahman
In Malaysia, private healthcare providers keep computerized records of vaccination data, including personal information, diagnostic results, and vaccine prescriptions. However, such sensitive information is commonly stored using a centralized storage paradigm which subsequently brings about the issue of maintaining user privacy. Concerning this, unauthorized access to crucial information such as identity details and ailments that a patient is suffering from, as well as the misuse of patients' data and medical reports, are common threats to user's (patient) privacy. To overcome this problem, the researchers suggest leveraging IPFS (Interplanetary File System) and blockchain technology to create a decentralized children's immunization record management system. While respecting patient privacy, the proposed system also allows authorized entities, such as healthcare professionals, and provides easy access to medical data (e.g., doctors and nurses). The proposed decentralized system integrates IPFS, blockchain, and AES cryptography to ensure consistency, integrity, and accessibility. A permission Ethereum blockchain allows hospitals and patients within private healthcare providers to connect. We utilized a combination of symmetric and asymmetric key encryption to provide secure storage and selective records access. The proposed system was analyzed using Wireshark to evaluate the overall system's performance in terms of integrity and accessibility while sharing patient records. This project aims to provide automated system keeper using autonomous agents collaboratively with the role of blockchain for further enhancement.
This is a capstone project summary of an in-depth market analysis titled how DeFi transforms the Banking Industry. Decentralized finance (DeFi) is an open and global financial system built for the internet age. There are limitations on the existing banking system, and DeFi has potential to solve those pain points. Various fintech companies in Asia have leveraged permissioned blockchain for financial services solutions with enhanced security and efficiency. The future DeFi will continue to shape the banking system for better service, and for a wider population.
Developing Countries in Africa in general and Zambia in particular, have seen a rapid rise in use of mobile payment platforms. This has not only revolutionized access to finance for the poor but also allowed them access to other financial products such as savings or insurance. With a growing number of mobile money providers in Zambia, there is need for a solution that would enable integration of the mobile money provider’s systems using a central clearinghouse for purposes of clearing and settlement to achieve mobile money interoperability. In this study, we first reviewed the technical landscape and features of mobile payment systems in Zambia and then assessed the feasibility of using blockchain technology in proposing a settlement and clearing system that would facilitate mobile money interoperability. A prototype system was then designed in which amounts being interchanged between providers are managed as assets on a permissioned blockchain. The system runs a distributed shared ledger, which provides non-repudiation, data privacy and data origin authentication, by leveraging the consistency features of blockchain technology.
Chris Elsden, Kate Symons, Chris Speed, John Vines · 5 authors
Abstract The OxChain project is investigating the design of blockchain applications in partnership with a large and traditionally trusted institution, Oxfam. We outline some of the potential opportunities that distributed ledger technologies could offer the charity and development sector as a whole, but focus on the challenges of undertaking co-design work in the context of large institutions. We suggest the need to leverage existing trusted relationships and understand the unique value that such institutions offer.
Bettina Nissen, Larissa Pschetz, Dave Murray-Rust, Hadi Mehrpouya · 6 authors
Design and HCI researchers are increasingly working with complex digital infrastructures, such as cryptocurrencies, distributed ledgers and smart contracts. These technologies will have a profound impact on digital systems and their audiences. However, given their emergent nature and technical complexity, involving non-specialists in the design of applications that employ these technologies is challenging. In this paper, we discuss these challenges and present GeoCoin, a location-based platform for embodied learning and speculative ideating with smart contracts. In collaborative workshops with GeoCoin, participants engaged with location-based smart contracts, using the platform to explore digital 'debit' and 'credit' zones in the city. These exercises led to the design of diverse distributed-ledger applications, for time-limited financial unions, participatory budgeting, and humanitarian aid. These results contribute to the HCI community by demonstrating how an experiential prototype can support understanding of the complexities behind new digital infrastructures and facilitate participant engagement in ideation and design processes.
Digital currencies represent a new method for exchange -- a payment method with no physical form, made real by the Internet. This new type of currency was created to ease online transactions and to provide greater convenience in making payments. However, a critical component of a monetary system is the people who use it. Acknowledging this, we present results of our interview study (N=20) with two groups of participants (users and non-users) about how they perceive the most popular digital currency, Bitcoin. Our results reveal: non-users mistakenly believe they are incapable of using Bitcoin, users are not well-versed in how the protocol functions, they have misconceptions about the privacy of transactions, and that Bitcoin satisfies properties of ideal payment systems as defined by our participants. Our results illustrate Bitcoin's tradeoffs, its uses, and barriers to entry.
Are there differences between the sale of an unopened Super Mario Bros. computer game and of the digital collage of 5,000 images? Viewed from the perspective of the doctrine of exhaustion, we can easily conclude that the two transfers have significant differences. The auction of the tangible data carrier of the Super Mario’s 1986 edition (for $660,000) 1 fits well into the doctrine. The auction of the NFT (non-fungible token) representing Beeple’s “Everdays: the First 5000 Days” (for an equivalent of an astounding $69.3 million) 2 seems to be hype with a snowball effect rather than a modern encapsulation of digital exhaustion. Some commentators, 3 including the present author in collaboration with Alexandra Giannapoulou, João Pedro Quintais, and Balázs Bodó, 4 have thoroughly introduced the incompatibility of the NFT mania with the existing copyright status quo, and so – in connection with the present book’s topic – the sale of tokenized information, which is capable of representing information related to digital artworks, is practically excluded from the scope of the exhaustion of the right of distribution. At the same time, NFTs de facto offer a “code-based digital ecosystem that has practical consequences for the copyright-relevant fields of creativeness.” 5 The sale and resale of NFTs is possible; an exchange of information and title to “own” and “trade” information related to copyrightable subject matter is technologically guaranteed. In line with that, a quasi-exhaustion regime has also emerged. As such, the NFT mania can practically evidence the need for and modern technology’s capability of offering digital marketplaces for artworks as well.