This article analyzes the impact of global financial technologies—specifically Blockchain, decentralized finance systems (DeFi), and Central Bank Digital Currencies (CBDC)—on the banking system within the IMRAD framework. The paper examines the transformational influence of modern FinTech innovations on traditional banking services, their role in expanding financial inclusion, and the associated issues of security and regulatory challenges. The study also highlights the prospects of implementing such technologies in developing countries like Uzbekistan.
Марат Рашитович Сафиуллин, Leonid Alekseevich Elshin, Yaroslav Kuznetsov
Objective: This study seeks to substantiate the prospects for using blockchain technologies as a mechanism to attract Islamic finance to the Russian regions, with the dual aim of mitigating sanctions-related restrictions and fostering integration into global Islamic financial ecosystems. Methodology/Approach: The research employs econometric and systems analysis to assess the macroeconomic externalities of blockchain-driven Islamic finance inflows. A methodological toolkit was developed and tested to estimate potential market capacity, using data from four Russian regions (Tatarstan, Bashkortostan, Chechnya, Dagestan) through 2030. The approach incorporates substitution modeling of lost Western capital, scenario analysis, and the application of blockchain-based financial gateways. Originality/Relevance: The originality of this work lies in linking two underexplored areas—Islamic finance and blockchain technologies—in the context of Russia’s geoeconomic reorientation toward Asia and the Global South. The study provides an innovative framework for replacing Western capital flows with investments from Islamic finance markets through decentralized fintech solutions. Main Conclusion: Findings demonstrate that the use of blockchain-based financial mechanisms can significantly expand the capacity of Russian regions to attract Islamic finance. Tatarstan and Bashkortostan show the highest potential, while Chechnya and Dagestan present smaller but strategically relevant capacities. Blockchain solutions are positioned as a breakthrough tool for overcoming international financial isolation and enabling long-term convergence with Islamic digital ecosystems. Theoretical/Methodological Contribution: The study advances the methodological basis for assessing fintech’s role in regional investment attraction by introducing a quantitative model that integrates substitution coefficients, market capitalization ratios, and penetration indices. It enriches the theoretical discourse on blockchain’s economic externalities and provides policymakers and practitioners with actionable instruments for embedding Islamic finance within regional development strategies.
The poor economic status particularly in the developing countries has resulted in limited income, scarcity of investment funds, while at the same time regulations governing project financing remain a challenge for the electricity sector. This study investigates the economic sustainability of different sources of energy to provide critical information to planners and policy makers seeking to develop an energy mix that guarantees clean and affordable electricity. Clean, efficient and affordable electricity directly and indirectly supports almost all the sustainable development goals as a vital physical input and enabler. Decentralized energy (DE), and distributed energy systems constitute power generation and storage close to the point of power need or consumption, and may or may not be connected to the distributed network. This reduces the transmission and distribution costs but leads to growth in use of local energy resources, which is an important strategy in the global sustainable energy transition. In terms of investment in clean energy, the financing for clean energy is a major concern for developing countries who play host for the close to 80 % of the global population targeting in SDP 7 targets. Therefore, economic sustainability of the energy transition is of critical importance. Decentralized generation provide numerous economic opportunities besides increasing access to clean energy for remote and off grid communities. This paper aims to develop the understanding of the relative economic value of the various energy options available for decentralized generation. The study compares the economic impacts of energy sources to help in identifying energy sources that will leave the highest positive economic impacts and limited financial cost. The findings of this study are valuable to energy and generation planners and policy makers in policy formulation and development a cost effective energy mixes. Clean, renewable, and affordable energy is a requirement for improved social, economic, and environmental health , which leads to sustainable modern energy and electricity services. The global concerns over greenhouse gas emissions and climate change as well as the need to electrify close to 750 million people with no access to reliable electricity are the main drivers of the current interest in decentralized generation. This generation offers multiple benefits like wider exploitation of local energy resources, reduced transmission and distribution costs as well as losses, higher power system resilience, higher efficiency, and democratisation of the electricity sector. However, high upfront costs and electricity costs can make decentralise generation financially unattractive to consumers and investors. The assimilation of low-cost and highly available low carbon energy sources will contribute to the attainment of the sustainable development goals particularly goal number 1 (SDG1) on poverty alleviation and goal number 7 on access to modern clean energy resources (SDG 7). The economic considerations for different decentralized energy sources was undertaken based on job creation potential, price of energy resources, levelized coat of power, demonstrate the relative economic competitiveness of energy options for decentralized power systems. The study showed that the noncombustible renewables are freely supplied by nature and hence have the lowest operation costs. By having the lowest levelized cost of power compared with fossil fuels , the renewable are more cost competitive on lifecycle basis, additionally renewables led by solar energy have the highest job creation potential. The fossil fuel sources have higher flexibility indicators like lowest ramp time and minimum run time making them ideal source of stabilizing power together with hydropower in the energy mix. Truly sustainable plans in decentralized generation should be based on real local based conditions where credible and site-specific data and information is available as opposed to the use of globalised data adopted in this study. Therefore, the findings of this study ought to be subjected to further review based on local data and realities of specific locations and countries for more reliable and accurate planning. This study demonstrated that distributed and decentralized generation is a power tool for the realisation of all the sustainable development especially in developing countries.
The article examines topical aspects of financial support for sustainable development of local communities in decentralization, martial law, and institutional transformation of the public administration system. The concept of internal and external sources of financing that constitute the resource base for local economic development is revealed, and the need for their balanced use to ensure social stability, infrastructure modernization, and economic autonomy of territorial communities is justified. The primary forms of internal resources are structured revenues to local budgets, income from communal property, own services, and the potential of external sources — interbudgetary transfers, grant programs, investments, loan instruments, and public-private partnerships — outlined. Emphasis is placed on the importance of developing human, social, and institutional capital as key intangible resources of local self-government bodies that ensure the effective implementation of strategic initiatives. Particular attention is paid to modern mechanisms for attracting financing, including municipal bonds, crowdfunding, voucher mechanisms, preferential lending, and corporate social responsibility. It was emphasized that increasing the financial capacity of local communities requires local self-government bodies to have high managerial competence, openness to partnerships, strategic thinking, and the ability to mobilize both internal and external resources. The article substantiates the feasibility of applying a comprehensive approach to forming a resource base for local development, combining financial, organizational, managerial, and communication aspects. The study results are of theoretical importance for deepening the scientific foundations of regional development and practical value for the formation of strategies to increase the financial self-sufficiency and investment attractiveness of communities in conditions of crisis transformations. Keywords: territorial communities; local economic development; financial security; internal resources; external sources of financing; budget autonomy; investments; grants; municipal finances; credit mechanisms; social capital; management capacity; decentralization; public administration; sustainable development.
Selvi Amanda, Arif Laksono, Natania Nurafni, Osberth Sinaga
This study examines the digital transformation of the creative arts industry, focusing on how technologies such as Augmented Reality (AR), Virtual Reality (VR), and Non-Fungible Tokens (NFT) have altered the creation and marketing of artworks. Digital platforms have expanded market access for artists, opened new opportunities for more efficient business models with lower costs, and created greater possibilities for cross-disciplinary collaboration. In this context, digital technologies allow artists to reach a global audience and sell their works in more innovative and interactive formats, increasing audience participation in the creative process. However, these developments also face significant challenges, such as increasingly intense competition, rapidly shifting trends, and limitations in resources to optimally implement these technologies. Furthermore, while there are significant opportunities in the global market, some artists in Indonesia still face difficulties in accessing and utilizing the latest technologies. With the creative economy contributing 7.16% to Indonesia's GDP in 2018, this study aims to provide an overview of the dynamics of the arts industry in the digital era and explore potential strategies to support the development of a more adaptable creative ecosystem. These strategies include digital training, strengthening cross-sector collaboration, and enhancing digital infrastructure to facilitate the future growth of the creative arts industry.
This article examines the application of blockchain technology for creating and circulating new investment assets in the creative industry. The study analyzes the impact of decentralized technologies, particularly blockchain, on the formation of new types of investment assets in the creative sector of the economy and assesses their potential for industry development. The research employs a systematic approach, methods of analysis and synthesis, comparative and statistical analysis, and generalization of expert assessments. The current state and trends in the use of blockchain technologies in the creative industry have been investigated, with a focus on NFTs, intellectual property tokenization, and decentralized autonomous organizations (DAOs). The study concludes that blockchain technologies create fundamentally new opportunities for monetization and investment in creative assets, while also highlighting challenges such as regulatory uncertainty and technological limitations. Recommendations for maximizing the positive impact of blockchain on the creative economy are provided, along with suggestions for further research.
This study explores the transformative potential of blockchain technology in green finance, aiming to assess how it enhances transparency, efficiency, and trust within the sector. Employing a systematic literature review and content analysis, the research scrutinizes peer-reviewed journals, industry reports, and case studies to elucidate blockchain's impact on sustainable financial practices. The methodology focuses on identifying the benefits, challenges, and strategic implications of blockchain applications in green finance, guided by specific inclusion and exclusion criteria to ensure the relevance and quality of the literature analyzed. Key findings reveal that blockchain technology significantly contributes to the transparency and efficiency of green finance mechanisms, such as green bonds and sustainability-linked loans, by providing immutable, transparent, and secure transaction records. This technological integration fosters trust among stakeholders, including investors, regulators, and beneficiaries, and addresses traditional challenges faced by green finance, such as lack of transparency and high transaction costs. The study underscores blockchain's role as a catalyst for change in the future of green finance, advocating for the development of supportive regulatory frameworks and international collaboration to fully harness its potential. Finally, the research offers strategic recommendations for enhancing transparency and trust in green finance through blockchain technology and identifies areas for future research, including the exploration of emerging technologies and the socio-economic implications of blockchain in sustainable finance. This study contributes to the ongoing discourse on leveraging blockchain technology to advance environmental sustainability goals within the financial sector. Keywords: Blockchain Technology, Green Finance, Transparency and Trust, Sustainable Financial Practices.
Philip Olaseni Shoetan, Babajide Tolulope Familoni
Blockchain technology, originally developed for digital currencies, has evolved to offer transformative prospects for enhancing financial security and efficiency beyond its initial application. This review paper explores the expansive utility of blockchain technology across various domains, with a special focus on its implications for green logistics innovations within the oil industry, drawing a comparative analysis between Nigeria and the USA. Through a comprehensive review of existing literature, this study aims to uncover the multifaceted impact of blockchain on streamlining operations, ensuring transparency, and fostering sustainability in the oil sector's supply chain management. The methodology hinges on synthesizing findings from peer-reviewed articles, industry reports, and case studies to construct a holistic view of blockchain's role in mitigating traditional challenges faced by the oil industry, such as fraud, inefficiencies, and environmental concerns. By comparing the progress and setbacks in Nigeria and the USA, the paper delineates the influence of regulatory frameworks, technological infrastructure, and stakeholder engagement on the adoption and effectiveness of blockchain solutions. Key findings reveal that blockchain technology can significantly elevate financial security and operational efficiency, offering a robust framework for transparent, immutable transactions and supply chain oversight. However, the comparative analysis highlights a notable divergence in adoption levels and outcomes, attributed to varying degrees of technological readiness, regulatory environments, and commitment to sustainability goals between the two countries. Conclusively, the paper emphasizes that the broader application of blockchain in enhancing green logistics and sustainability within the oil industry requires a concerted effort among policymakers, industry leaders, and technology providers. It advocates for targeted investments in technology infrastructure, clearer regulatory guidelines, and stronger collaborations to harness blockchain's full potential, suggesting a pathway towards more secure, efficient, and sustainable industry practices. Keywords: Blockchain Technology, Financial Services, Smart Contracts, Decentralized Finance (Defi), Regulatory Landscape, Ethical Considerations, Privacy Concerns, Data Protection, User Anonymity, Operational Efficiency, Financial Security, Scalability Issues, Energy Consumption, Consensus Mechanisms, International Regulations, Jurisdiction-Specific Challenges, Technology Adoption, Integration Strategies, Innovation, Collaboration, Financial Ecosystem.
This paper explores the transformative potential of blockchain technology in addressing inefficiencies, opaque processes, and fraud susceptibility in the traditional supply chain ecosystem. Blockchain technology, with its distributed ledger technology (DLT), provides secure, transparent, and tamper-proof record-keeping capabilities throughout the supply chain. Its applications include traceability and transparency, inventory and logistics optimization, smart contracts for automated payments, and counterfeit prevention and brand protection. Blockchain's decentralized and immutable ledger facilitates traceability, offering an unalterable record of the journey of goods. Real-time visibility into inventory levels and locations empowers better forecasting, demand planning, and logistics management, leading to cost reductions and improved efficiency in warehousing, delivery routes, and resource utilization. Smart contracts enable automated, secure, and transparent execution of predefined contractual conditions, resulting in efficiency gains, cost savings, and contractual compliance. Blockchain also creates a secure digital fingerprint for products, combating counterfeiting and ensuring product authenticity throughout the supply chain. The case study of Everledger in the diamond industry exemplifies how blockchain technology contributes to ethical sourcing and reduces the risk of conflict diamonds. However, blockchain faces challenges such as scalability, regulatory uncertainties, cost, and privacy concerns. Future directions involve integrating blockchain with artificial intelligence and the Internet of Things, developing industry-specific blockchain solutions, and exploring hybrid blockchain models. By addressing these challenges through collaborative research, development, and policy initiatives, stakeholders can unlock the full potential of blockchain in supply chain management, creating a resilient and robust supply chain ecosystem. Keywords: Blockchain, Supply Chain Management, Traceability, Efficiency, Trust, Case Studies, Best Practices, Agriculture, Pharmaceuticals, Manufacturing, Challenges, Future Directions
Advances in artificial intelligence, robotics, neural networks, artificial limbs and systems, automation, virtual and augmented reality, machine learning, and other fields hold great promise for improving efficiency and knowledge acquisition. Decentralization is one of the trends in the modern global finance market. The growth and active development of the Islamic finance and banking industry, the growth in the number of Muslims in the world and other factors determine the interest of researchers in digitalization issues. This paper is devoted to the study of the possibilities, approaches and views on the use of digital currencies from the point of view of Islamic finance. Methods of analysis and synthesis, comparative analysis are used. The approaches of various countries of the Muslim world to the introduction of digital currencies are analyzed, ongoing projects are considered. In the Islamic world, there has not yet been a consensus on the permissibility and scope of the possible use of digital currencies. The authors conclude that, in general, digital currencies can be harmoniously used within the concept of Islamic finance. This is facilitated by such factors as the transparency of decentralized finance and digital currencies, the contribution to the protection of the wealth of society, the focus on social benefits, which is in line with the good goals of Islamic finance and its social value.
This article aims to explore the use of digital finance and fintech in financing sustainable projects and explain trends in the development of sustainable digital finance. Sustainable digital finance is the targeted application of digital finance to finance and support appropriate institutional and market mechanisms that contribute to the achievement of sustainable development. It is determined that the decentralization of the financial sphere opens up new opportunities for «green» investments and achievement of sustainable development goals. Transparency, trust, and efficiency are becoming essential components of a sustainable financial ecosystem that conserves natural resources and supports environmentally friendly initiatives. The use of digital technologies such as artificial intelligence (AI), blockchain and the Internet of Things (IoT) in the financial sector to support sustainable development and green finance is considered. By providing financial risk forecasting and analysis, these technologies help create sustainable and effective strategies for issuers and investors, which contributes to the development of a sustainable financial sector. The taxonomy of «green» digital finance, which combines sustainable development goals with digital financial technologies, is considered. The characteristics and examples of different types of sustainable digital financial solutions are provided. The importance of continuing research in the field of sustainable digital finance to promote «green» initiatives and effectively address modern global challenges is emphasized. The practical value of this article is that it provides an overview of modern technological and financial innovations in green finance and sustainable development. The results of the study can be useful for researchers interested in the integration of finance and technology in the context of sustainable development, providing them with a basic understanding of key concepts and trends in this direction.
Bukola A. Odulaja, Kelechi Chidiebere Ihemereze, Ololade Gilbert Fakeyede, Adekunle Abiola Abdul · 6 authors
The integration of blockchain technology into sustainable procurement processes has garnered significant attention in recent years, promising a transformative shift in ensuring transparency, traceability, and adherence to sustainability standards. This study embarked on a comprehensive exploration of the potential, effectiveness, challenges, and future implications of blockchain in the realm of sustainable procurement. Utilizing a rigorous methodology, the research delved into decentralized ledgers, smart contracts, and the inherent transparency offered by blockchain. Key findings highlighted the unparalleled potential of blockchain in enhancing trust and accountability among stakeholders, while also emphasizing the barriers to its widespread adoption, such as high implementation costs and the need for a paradigm shift in organizational culture. The study concludes with a forward-looking perspective, emphasizing the profound benefits organizations stand to gain by proactively embracing blockchain in their procurement processes. Recommendations underscore the importance of stakeholder education, pilot projects, and collaboration with regulatory bodies. As the landscape of sustainable procurement evolves, blockchain emerges as a pivotal tool in shaping its future. Keywords: Blockchain, Sustainable Procurement, Decentralized Ledgers, Smart Contracts, Transparency.
The development of crypto has resulted in NFT (non-fungible token) derivation. Artists began to explore the NFT market with its potential. NFT artists have different ways to get engagement and establish themselves in the world of NFT, whether in terms of artwork substance or in the social field. This study aims to deconstruct the actors behind NFT artists to elucidate the visual style and the social engagement of artists in the world of NFT. The method used in this study is a qualitative approach with data validation from interviews and NFT artwork samples. The data was subsequently processed using actor-network theory (ANT) to analyze and trace the actors behind the NFT artists. Two Indonesian artists, namely Angga Tantama and Mufti Prianka, became the study cases in this research. The result of this study shows heterogeneous actors who support the artists in their work's substance and social engagement. In the case of Mufti Prianka, NFTs influenced him to explore the possibilities of creating digital artworks, whereas for Angga, NFT platforms became one of his well-established channels to publish artworks. Based on their networks, the two Indonesian artists studied have different approaches and motivations in creating and engaging with NFTs.Proses kreatif dua seniman NFT Indonesia dalam perspektif teori jaringan aktorPerkembangan kripto telah menghasilkan derivasi NFT (non-fungible token). Para seniman mulai menjajaki pasar NFT dengan potensinya. Seniman NFT memiliki cara yang berbeda untuk mendapatkan keterlibatan dan memantapkan diri di dunia NFT baik dari segi substansi karya seni maupun dalam bidang sosial. Gaya visual dalam kategori ini bervariasi dengan seniman yang berbeda yang merupakan pencipta di belakangnya. Penelitian ini bertujuan untuk mendekonstruksi aktor di balik seniman NFT untuk menjelaskan gaya visual dan keterlibatan sosial seorang seniman di dunia NFT. Metode yang digunakan dalam penelitian ini adalah pendekatan kualitatif dengan validasi data dari wawancara dan sampel karya seni NFT. Data tersebut selanjutnya diolah menggunakan teori jaringan aktor (ANT) untuk menganalisis dan menelusuri aktor di balik seniman NFT. Dua seniman Indonesia menjadi studi kasus dalam penelitian ini, yaitu Angga Tantama dan Mufti Prianka. Hasil penelitian ini menunjukkan aktor heterogen yang mendukung seniman dalam substansi karya dan keterlibatan sosialnya. Dalam kasus Mufti Prianka, NFT memengaruhinya untuk mengeksplorasi kemungkinan dalam menciptakan karya seni digital, sedangkan pada Angga, platform NFT menjadi salah satu salurannya yang mapan untuk mempublikasikan karya seni. Berdasarkan jaringan mereka, dua seniman Indonesia yang diteliti memiliki pendekatan dan motivasi yang berbeda dalam menciptakan dan terlibat dengan NFT.
Farouq Ahmad Faleh Alazzam, Ali Jabbar Salih, Maher Ali Mohd Amoush, Fadiah Sami Al. Khasawneh
Purpose: This study aimed to assess the extent of the use and the safety of dealing withBitcoin through blockchain technology. Method/approach: Bitcoin model applied for electronic contracts. The method of functional-cost analysis for technical and economic analysis of system development for NFT creation is used in work. Theoretical framework: Bitcoin is a currency that depends on modern technological techniques with many advantages because they are used to send and receive money over the Internet and can be used in legitimate and illegal businesses. Therefore, quick international measures must be taken to regulate them legally through unified international conventions that regulate the ways of legal dealing with them. Results and Conclusions: International laws must govern and regulate the use of Bitcoin, as it is a currency traded over the Internet and can be used in legitimate and illegal businesses. And that the smart contract, which is executable code that runs on top of the blockchain to facilitate, execute and enforce an agreement between untrusted parties without the involvement of a trusted third party, can be used, especially since the International legislation lacks a legal regulation of virtual currencies. Research implications: The findings indicated the importance of stipulating special laws that regulate the use of Bitcoin. Originality/value: This work can provide possible solutions to reduce the risks of using Bitcoin, such as stipulating laws and regulations to regulate their use internationally.
This article describes the role and importance of the investment climate in the economic development of the country, the content of the Investment Program for 2021-2023, sources of centralized financing of investments in fixed assets in the Republic of Uzbekistan, decentralized sources of financing. issues such as reforms in attraction, investments made by international financial institutions were considered and recommendations were made.
Due to the significant expansion of the use of cryptocurrencies in the world, there is a need to understand the perspectives and risks associated with their use. Today, the relevance of cryptocurrency has risen sharply again. The cryptocurrency market has increased and is in no hurry to fall. However, this topic is still ambiguous and surrounded by many myths. Before becoming a stable means of payment, the cryptocurrency began to resemble financial instruments. Cryptocurrencies have an impact on the economy, financial system, society, and ecology, so it is necessary to analyze their impact and consider possible ways to solve the problems associated with their use. In recent times, cryptocurrencies, particularly Bitcoin, have been actively used in the traditional financial system. Today, cryptocurrencies can help open up new markets and increase the volume of international trade, as they are not dependent on financial institutions or national currencies. The problem lies in the fact that cryptocurrencies are still relatively new and not fully understood by many people, and their impact on the global economy and financial system can be significant. Therefore, it is necessary to investigate the issue of the prospects and risks of cryptocurrencies in the modern world to understand their impact and make necessary decisions regarding their use. The economic characteristics of the crypto market are essential since blockchain and digital currencies significantly impact the economic sphere. Cryptocurrencies allow people to invest and store their assets without being tied to the traditional financial system. The purpose of this article is to analyze the perspectives and risks of cryptocurrencies. The article covers the impact of cryptocurrencies on the economy, financial system, society, and ecology. Additionally, it analyzes the fluctuations and growth rates of the most well-known cryptocurrencies. Cryptocurrencies can have significance for the economy and the environment if they are used properly and take into account certain factors such as social responsibility, energy conservation, and efficient use of resources. However, it is also important to remember the potential risks associated with cryptocurrencies, which can harm the economy, society, and the environment.
Salah satu pelaku ekonomi yang terdampak akibat fenomena global pandemic Covid-19 adalah pelaku seni. Hal ini berdampak secara fisik maupun psikis bagi kehidupan mereka. Banyak pelaku seni bekerja dan berkreasi di rumah karena adanya larangan kegiatan berskala besar. Bali sebagai daerah terdampak dengan segudang pelaku seni, kini berusaha memulihkan perekonomian di berbagai sisi. Kehadiran perdagangan digital saat ini menjadi pilihan utama meneruskan usaha dan bisnis di tengah pandemic Covid-19. Penelitian ini berangkat dari fenomena hadirnya perdagangan digital yang disebut Non Fungible Tokens pada Crypto Art. Baliola menjadi satu-satunya marketplace di Bali yang menyediakan jasa perdagangan digital bagi para pelaku kreator seni. Banyak pelaku seni Bali mulai berbondong memonetisasi kreasi melalui perdagangan digital ini. Tujuan dari penelitian ini adalah untuk mengidentifikasi transformasi ekonomi yang dilakukan oleh pelaku seni Bali melalui marketplace virtual Baliola. Penelitian ini menggunakan jenis penelitian kualitatif dengan teknik pengumpulan data melalui observasi, in depth interview dan studi dokumentasi. Hasil penelitian menunjukkan pelaku seni yang telah berinovasi dan bertransformasi adalah pelaku seni ukir, seni tari, seni lukis, digital ilustrasi, seniman layanan, seni perfilman, seni pegiat heritage, dan komunitas seni. Wujud transformasi dipetakan berdasarkan pemasaran, jaringan sosial, ide kreatif dan legalitas. Dalam hal ini juga telah menghasilkan preferensi pelaku seni terhadap Baliola Marketplace yaitu dari individu berupa sistem yang mudah dijangkau atau lokasi Baliola berada di wilayah Bali, berfokus pada seni bali, serta penggunaan token berbasis kearifan lokal (uang kepeng) dan sosial berupa religiusitas yang berarti terverfikasi aman dan halal, diawasi dan didukung pemerintah Bali serta validasi rekanan atau teman yang telah menggunakan sebelumnya
Open access
SMEs Development and Digital Marketing
Sustainability and Innovation in Business
Community-based Tourism Development and Sustainability
Muslehuddin Musab Mohammed, Nida Tabassum Khan, Tabrez Ahmad
Abstract: The climate change is one of the biggest problems that humanity is facing and there is a dearth of solutions in tackling this grave impediment to the long-term sustainability of our planet. Accountability, greenwashing, traceability, impact assessment and trading of carbon credits are unresolved issues in the ESG sector. The paper aims at identifying the opportunity for Islamic finance by reviewing the novel business model of DCarbonX, a Decentralized Application (DApp) that solves the enumerated problems using NFTs on the blockchain platform through smart contracts. The paper combined the inductive method and descriptive approach to describe the functional architecture of DCarbonX, while elaborating on its salient features and highlighting opportunity in sustainable finance for Islamic finance players. The paper encompasses a study on the applications of DApps in DeFi, Web 3.0 and ESG, among other areas and gives a comparative analysis of blockchain platforms for DApp development. The paper concluded that there is a harmony in the SDGs and the primary goals of Maqasid al-Shariah. The blockchain platforms can be utilized to develop DApps for solving the issues related ESG and climate change. The Islamic finance can seize the untapped opportunity in blockchain based solutions for climate change by launching the DApps in the domains of Capital Market (like green Sukuk), Embedded Finance, Takaful, NFTs, RegTech, and SupTech. Keywords: Blockchain, DApp, DCarbonX, Climate Change, Carbon Market, NFT, Islamic Finance.
Banking & financial sector in India is reshaping rigourously as the technological disruptions are spreading<br> through Fintech, RegTech, SupTech, Robo-advice & so on. Adoption of Machine learning, Artificial<br> Intelligence, Distributed Ledger Technologies are bringing paradigm shift in banking sector. RegTech is a<br> technology to be used for regulatory functions by financial authority say RBI whereas SupTech represents<br> technology for supporting regulatory supervision functions. Robo-advice is machine-based programme that<br> helps corporates to predict risk of project in advance & design pro-active & protective measures
The rapid development of China's local e-commerce and the continuous improvement of its business model have not only pushed the country to the forefront of the globe but also opened up the unprecedented potential for China's cross-border e-commerce. Therefore, it is imperative to build a balanced and sustainable cross-border e-commerce system, and cross-border e-commerce on the Silk Road has become a new highlight of China's e-commerce development. This study proposes a cross-border supply chain model based on the complex computer blockchain for international cooperation scenarios, contrasts and analyzes decision making in two cross-border supply chain scenarios with and without blockchain implementation, and investigates the sufficient conditions for blockchain implementation in the cross-border supply chain from the perspective of various value objectives. The analysis reveals that the cross-border supply chain has sufficient incentive to implement blockchain when the value gain generated by implementing blockchain is high or the value gain is low but the potential market size weakening factor of cross-border products is greater than a certain degree. It demonstrates that the link between cross-border product price elasticity, manufacturer cross-border effort cost, and customer cross-border preference degree would impact the circumstances for adopting blockchain in cross-border supply chains. The model also lays out a plan for the government to improve cross-border e-commerce logistics, strengthen oversight, and create a regional financial service network system to reduce credit risk.4.
This article examines the impact of blockchain technology in the financial sector and international trade. The aim of the article is to measure the effect of blockchain technology on international trade and financial business. The paper uses methods of analysis and synthesis of information from researched academic articles, government programs, reports, and statistical data. The averages and regression analysis (in particular, the calculation of the Pearson coefficient) are used for getting analytical results. Graphic methods are used to summarize the information and to present the understudy materials. According to the results of the study, it can be concluded that blockchain technology has great potential for the development of international trade and financial business. It is possible by improving the settlement of international trade, applying smart contracts in the formation of the transaction, improving logistics chains, and reducing the speed of information and delivery processing, increasing the economic turnover. Blockchain has a positive impact on reducing costs for merchants and the banking sector, predicted by 2030 to decrease costs by 11% using this technology. The technology will have a very significant impact on the development of intellectual property, which could be particularly activated by the possibility of reducing the impact of pirated copying. It is possible to reduce corruption and fraud by applying blockchain technology in public procurement, which currently accounts for the bulk of international trade. Blockchain technology will add $3 trillion in additional business value by 2030 and $866 bln in international trade, including financial business.
Few epidemiological studies have discussed the gender-specific prevalence of ischemic heart disease (IHD). We aimed to investigate the gender-specific prevalence of IHD among Saudi patients visiting the emergency department and if it is affected by diabetes mellitus and/or hypertension. Three hundred patients were recruited from Prince Sultan Cardiac Center in Al Ahsa, KSA. Hypertension was identified as systolic pressure equal to or more than 140 mmHg and/or diastolic pressure equal to or more than 90 mmHg or by the patient currently being on antihypertensive medication, and coronary artery disease (CAD) was diagnosed by electrocardiogram, cardiac markers, cardiac exercise testing or coronary angiography. Hypertension was found in 80% of males and 72% of females. A significantly higher rate of diabetes was noted in females (62%) compared to males (48%) (p<0.012). Co-existing diabetes and hypertension was found in 70% of females as compared to 38% of males. The occurrence of IHD in males was significantly higher than that in females (p<0.001). However, the incidence of myocardial infarction was greater in females (52%) compared to males (38%) (p<0.035). Co-existing hypertension and diabetes may affect the gender prevalence of myocardial infarction among emergency department patients, with more infarctions being noted among females. This finding helps to guide the treatment strategy for both genders.
Ukraine has a high navigable potential of rivers. At the same time, in Ukraine only about 0.5 % of goods are transported by river transport. The current situation of research in the scientific field in most cases is based on the study of the statistical basis for the use of ports in transportation, transshipment volumes, but scientists do not pay attention to the place of ports as a center of river transport infrastructure and transport development in general. An important step for Ukraine for the development of river ports should be the entry into force of the Law of Ukraine "On Inland Water Transport". This law will address a significant number of issues that have accumulated in the field of river transport and encourages the industry to actively develop soon. In our opinion, the state's efforts to obtain direct revenues from water transport operations, rather than indirect revenues through savings from reducing the load on road infrastructure, accelerating the flow of funds from businesses, payment of wages to river workers, indicates an underestimation of economic industry potential. In the context of decentralization, the transfer of the method of generating revenues to the indirect ones allowed to significantly support the united territorial communities in their search for opportunities to attract investors in their territory and the development of existing ports. International experience in port management shows that among the many sources of financing, modernization and renovation of port infrastructure, the concession is the most attractive tool for raising funds. There is another negative point of distorted statistics: the lack of accurate data contributes to the development of the shadow business on the river. The most striking example here is illegal sand mining, which significantly reduces tax payments, and not only state but also local budgets suffer from this. Shadow "developers", in particular, do not pay rent, VAT, income tax, single social contribution. They also "manage" without paying land rent and the cost of environmental measures, including not compensating for losses to fisheries. If in Ukraine the accounting and control of cargo handling in river terminals was carried out, it would always be possible to stop such activity. However, the adopted law is a lesson for our Ukrainian realities. Only equal relations between business and the state will stimulate both the growth of transshipment in ports, the development of new areas of logistics, and, in general, the development of the country's economy.
Elena Kirillova, Богдан Варвара Владимировна, Petr Filippov, Valentin Tkachev · 5 authors
This article discusses the main features of the classifications of blockchain technologies. Ten years after the first blockchain appeared, this technology is still largely experimental. It is difficult to predict the future of the blockchain industry and the technology itself with confidence, but its certain outlines are already emerging. The purpose of the study is to consider the classification of blockchain technologies and analyze the problems that arise when using these technologies. When writing the article, the authors used methods of collecting and studying individual facts, generalization, scientific abstraction, cognition of laws, as well as the methods of objectivity, concreteness, and pluralism. It has been proved that the legal regulation of blockchain technologies should be carried out through the development of uniform world standards and that prohibitions and restrictions on certain types of activities should be systematized and regulated at the international level. The study has concluded that three types of blockchain are used: public blockchains with open access (public blockchains), private blockchains with open access (consortium blockchains), and private blockchains with closed access (fully private blockchains). Following this typology, the authors have highlighted the main features of each blockchain category.