Alparslan Sari, Mustafa Demircan, Murat E Unal, Adnan Özsoy
This study explores the transformative potential of smart contracts in addressing the challenges of progress payments in Turkey's construction sector, particularly focusing on issues such as delays and financial insecurity. We propose a system that leverages Ethereum-based smart contracts to automate and secure payment disbursements, ensuring prompt and reliable transactions. The system integrates on-chain mechanisms for hashing documents and an off-chain application for efficient document storage, thereby minimizing blockchain resource usage and reducing transaction costs. Preliminary testing on the Sepoli test network demonstrated the system's ability to significantly reduce payment latencies and operational costs. This research outlines the technical setup and economic benefits of the proposed system, emphasizing its potential to streamline construction payments through digitalization and legislative adaptability while acknowledging the development limitations of the off-chain application.
Blockchain technology has significant applications in medicine, particularly in ensuring the confidentiality of medical records and enhancing the transparency of healthcare data management. Rapid digitalization in healthcare presents challenges related to interoperability and privacy, which traditional centralized systems struggle to address. Blockchain, as immutable and distributed ledger technology initially designed for cryptocurrencies, offers a solution by securing and decentralizing healthcare data management. The NAIBHSC framework exemplifies this integration, utilizing blockchain alongside IoT, cloud computing, and AI to enhance the supply chain management of healthcare products and electronic health records. Additionally, its implementation in car insurance systems showcases automated damage identification and secure premium transactions. The study concludes that by combining blockchain with modern technologies, solutions can be developed that enhance security, transparency, and efficiency across various domains, ultimately fostering trust and innovation within critical industries.
Olanrewaju Oluwaseun Ajayi, Chisom Elizabeth Alozie, Olumese Anthony Abieba, Joshua Idowu Akerele · 5 authors
Blockchain technology has emerged as a transformative force within the financial technology (Fintech) sector, offering unprecedented opportunities for efficiency, transparency, and security. However, its adoption also brings forth new challenges and vulnerabilities, particularly in the realm of cybersecurity. This review explores the dynamic landscape of Blockchain Technology and Cybersecurity in Fintech, highlighting both the opportunities it presents and the vulnerabilities it introduces. Blockchain technology, most notably recognized as the underlying framework for cryptocurrencies like Bitcoin and Ethereum, operates on a decentralized ledger system, enabling secure and immutable transactions. In Fintech, this technology promises enhanced transactional speed, reduced costs, and increased transparency, revolutionizing traditional banking and payment systems. Nevertheless, the decentralized nature of blockchain networks, while offering resilience against single points of failure, also poses unique cybersecurity risks. Smart contracts, self-executing contracts with the terms of the agreement directly written into code, introduce vulnerabilities such as code bugs and exploits. Moreover, the anonymity associated with blockchain transactions has raised concerns regarding illicit activities, money laundering, and terrorist financing. In response to these challenges, the intersection of Blockchain Technology and Cybersecurity in Fintech offers opportunities for innovation. Advanced cryptographic techniques, such as multi-signature authentication and zero-knowledge proofs, are being leveraged to enhance security and privacy in blockchain-based systems. Additionally, regulatory frameworks are evolving to address the emerging risks associated with Fintech innovations, ensuring compliance and consumer protection. While Blockchain Technology presents promising opportunities for revolutionizing Fintech, its integration must be accompanied by robust cybersecurity measures to mitigate vulnerabilities and safeguard against potential threats. Collaborative efforts between industry stakeholders, regulators, and cybersecurity experts are imperative to foster a secure and resilient ecosystem for blockchain-based financial services.
Purpose India’s construction sector faces substantial challenges with project delays and cost overruns. According to the Ministry of Statistics and Programme Implementation, an astounding 431 out of 1,820 projects reported cost overruns, whereas 848 projects experienced delays in 2023. These delays and overruns often push costs 30%–40% beyond initial estimates. Blockchain technology (BCT) offers a promising solution by enhancing transparency, streamlining processes through automation and optimising supply chains in the construction industry. This study aims to explore the adoption landscape of BCT within the construction sector, the drivers behind its acceptance and future directions for its implementation. Design/methodology/approach This study uses a mixed-methods’ research design that combines both quantitative and qualitative data collection and analysis techniques to investigate the current use of blockchain, the perceived rationale and the future direction of blockchain in construction. A survey of construction professionals with substantial blockchain experience was conducted. In addition, an exhaustive literature review and content analysis were conducted using reputable electronic databases such as Scopus, Web of Science and IEEE Xplore, reinforcing the study’s empirical foundation. The survey data was analysed using descriptive and inferential statistics to determine relative importance items using MS-Excel and SPSS. Findings Despite regulatory challenges, blockchain adoption is on the rise, with 90% of respondents expressing strong interest. Stakeholders see improved transparency and accountability as key drivers for adoption, emphasising blockchain’s capacity to support veracity and trust in construction projects. Notable benefits include enhanced communication, cost reduction, supply chain management and precise execution and monitoring. Overcoming regulatory constraints and bridging knowledge gaps will be essential to fully realising blockchain’s benefits for all players in the construction industry. Originality/value The study’s findings provide valuable insights for construction professionals, researchers and policymakers interested in adopting BCT. By clarifying the transformative potential of blockchain within the construction sector, this research study emphasises the imperatives of further study, innovation and collaborative endeavours aimed at addressing construction industry challenges and facilitating digital integration.
Blockchain technology (BCT) has emerged as a promising solution for ensuring supply chain traceability. However, not all consumers have a comprehensive understanding of the benefits associated with BCT-enabled traceability. In this article, we investigate the impacts of consumer awareness on the adoption of BCT within a supply chain comprising a manufacturer and a retailer. We develop two distinct scenarios: Scenario B, where the supply chain traceability is managed via traditional digital systems, and Scenario E, where the supply chain traceability is managed via BCT-enabled systems. We introduce the concept of consumer traceability awareness level, representing the proportion of the consumer population that is knowledgeable about the advantages of these traceability technologies. The findings reveal that the adoption of BCT enhances the overall performance of the supply chain and makes it more sensitive to the consumer traceability awareness level. Nonetheless, the manufacturer consistently experiences advantages from BCT adoption, whereas the retailer's situation may deteriorate. In both scenarios, a low traceability awareness level prompts the retailer to target all consumers, whereas a high-traceability awareness level shifts its focus solely to the knowledgeable consumers. Intriguingly, the adoption of BCT shifts the retailer's inclination toward targeting the knowledgeable consumers rather than all consumers.
N. El Inani, Faouzia Benabbou, Khadija Sabiri, Amal Zaouch
With the advancement of blockchain technology, Solidity-based smart contracts have become essential for automating and securing digital transactions across various sectors, from finance to supply chain management. These contracts enable decentralized exchanges without intermediaries, enhancing transparency. However, their immutable nature poses security challenges: any flaw in the code becomes permanent, exposing contracts to attacks and leading to financial and reputational losses. This paper provides a comparative analysis of recent machine learning (ML) and deep learning (DL) techniques developed for detecting vulnerabilities in Solidity based smart contracts. By evaluating various approaches, we assess their effectiveness in identifying common threats such as reentrancy attacks and integer overflows. Finally, we highlight the importance of scalable, AI driven security solutions to address the growing complexity of vulnerabilities.
J. Thimmia Raja, Ashish Ashish, Sindhu Boianapalli, Soma Sabitha M · 6 authors
Blockchain technology, as a growing innovation, offers a viable solution to enhance transparency, traceability, and efficiency in global supply chains. While blockchain has great potential, several challenges remain, including scalability, integration with legacy systems, standardization, energy consumption, privacy concerns, and regulatory uncertainty. This enrollment of data is hoped to tackle these problems of dilemmas, whislt subsequent improved effective equates being more reasonable in terms of deploying blockchain applications. With the goal of offering a bridge to most projects still unsure whether to adopt Blockchain technology or to continue under what we call "Blockchain in the cloud" approach, this study introduces effective solutions on how to integrate Blockchain with current systems through innovative hybrid systems, standardized user protocols, and new consensus protocols that optimize cost of implementation and environmental impact. The other aspect of the research undertakes to design clear regulatory frameworks and change management systems that can aid in the adoption of blockchain technology for traditional supply chain stakeholders. By utilizing real-world case studies and the simplification of smart contract deployment, this work illustrates the practical benefits blockchain can provide in enhancing supply chain operations. In conclusion, the goal of this study is to pioneer a sustainable, secure, and efficient blockchain ecosystem that promotes trust, transparency, and collaboration among supply chain partners, ensuring the future viability of the technology.
The rapid evolution of financial technology (FinTech) has significantly transformed the structure and function of financial intermediation, reshaping how financial services are delivered, accessed, and regulated. This systematic review examines the FinTech revolution and its implications for the future of financial intermediation by synthesizing findings from recent scholarly literature, industry reports, and policy analyses. The study explores key dimensions of FinTech innovation, including digital lending platforms, peer-to-peer (P2P) lending, blockchain-based financial services, robo-advisory systems, mobile payments, and decentralized finance (DeFi). Findings indicate that FinTech has enhanced efficiency, reduced transaction costs, improved financial inclusion, and increased competition within the financial sector by disintermediating traditional financial institutions in several service areas. However, the review also identifies persistent challenges, including regulatory uncertainty, cybersecurity risks, data privacy concerns, and systemic vulnerabilities associated with digital financial ecosystems. The analysis further highlights a gradual shift from traditional bank-centered intermediation toward hybrid financial ecosystems characterized by collaboration between banks, FinTech firms, and BigTech companies. The study concludes that while FinTech is redefining the role of financial intermediaries, it is unlikely to eliminate them entirely; rather, it is driving their transformation into more technology-enabled, platform-based entities. The review contributes to ongoing debates on financial innovation by providing an integrated understanding of emerging trends and their implications for policy, regulation, and financial stability.
Atish Peshattiwar, A. P. Mohanraj, Anand Gerald A, Dharmalingam S · 6 authors
Blockchain Technology in Supply Chain Management Blockchain can help scale to preparedness and enhance scalability, transparency, interoperability, security, and cost-efficiency. Existing implementations are facing significant challenges, such as considerable computational expense, scalability constraints, issues with interoperability, energy waste, and regulatory compliance. In response, this research presents a next-gen blockchain framework leveraging hybrid blockchain architectures, AI-integrated smart contracts, green consensus algorithms, and cross-platform interoperability strategies to bridge the gaps of the existing systems. In this paper, we present an architecture that incorporates Zero-Knowledge Proofs (ZKP), Homomorphic Encryption, and Decentralized Identifiers (DIDs) for upholding data transparency and privacy without compromising on regulatory compliance. Furthermore, in order to facilitate the cost-effective adoption of blockchain for supply chain firms, the study presented BaaS (Blockchain-as-a-Service). AI-powered adaptive smart contracts to automate logistics operations in real-time are also included in the framework. This research proves that the proposed blockchain framework helps to increase the supply chain security level, decrease operational costs, improve transaction efficiency, and conformity with the regulations of global trade through the case study analysis and simulation testing approaches. The outcome indicates the comparative analysis demonstrating the improvement– a 40% reduction in latency, a 30% decrease in computational costs, and a 50% higher transaction processing speed compared to the existing blockchain technologies with respect to hybrid blockchain model. This research addresses major roadblocks to significant adoption of blockchain, and provides a robust, cost-efficient, and privacy-protective, scalable blockchain solution which can guarantee resilience and transparency of supply chain in current-day logistics networks.
Blockchain technology has emerged as a transformative innovation, redefining industries through its decentralized and secure framework. Smart contracts—self-executing code deployed on blockchain platforms like Ethereum—enable decentralized applications (dApps) to automate processes across finance, healthcare, and supply chain management. However, their programmability introduces significant security risks, making them susceptible to vulnerabilities that can be exploited by malicious actors. While different detection methods have been developed to address these security concerns, they often remain inadequate. Traditional approaches to smart contract vulnerability detection, such as static and dynamic analysis, are limited by their reliance on predefined rules, making them ineffective for addressing complex, domain-specific vulnerabilities in rapidly evolving decentralized ecosystems. This thesis addresses these challenges by leveraging Large Language Models (LLMs), which have demonstrated exceptional capabilities in contextual understanding and reasoning. Through parameter-efficient fine-tuning techniques, including Low-Rank Adaptation (LoRA) and Quantized LoRA (QLoRA), the research enhances the scalability and accessibility of LLMs for vulnerability detection. The study also examines Retrieval-Augmented Generation (RAG) frameworks to dynamically retrieve and process relevant information. The research develops and evaluates two distinct approaches: fine-tuning LLMs and RAG. The CodeGemma 7B model achieved exceptional results, attaining 94.78% accuracy on the DeFi Hacks & Top200 dataset and 92.52% on the TrustLLM dataset, surpassing previous benchmarks using larger and proprietary models. The best-performing RAG model, Gemma 2, achieved 79.1% accuracy, demonstrating the effectiveness of retrieval-based augmentation. These contributions lay the groundwork for more scalable, efficient, and democratized tools for securing blockchain ecosystems, addressing the limitations of traditional methods while offering cost-effective solutions for safer decentralized systems.
Blockchain technology is transforming accounting and finance by providing transparency, traceability, and reliability of financial information. This research examines its potential in Algeria, focusing on the role of smart contracts in supporting startups. The objectives are to explore blockchain’s theoretical contributions, identify adoption areas such as banking, taxation, accounting, and auditing, and analyze benefits including fraud reduction, data security, and improved accountability. Findings suggest that smart contracts could simplify financial transactions, reduce costs, and increase trust for startups operating in a challenging business environment. However, major barriers persist, including regulatory uncertainty, weak digital infrastructure, high implementation costs, and limited expertise. The study concludes that blockchain adoption in Algeria should start with pilot projects, combining institutional reforms with targeted support for startups.
Jamil Raja, D Hema Ruba, Sai Krishna, K Manasa · 6 authors
Blockchain technology has become a disruptive force that is quickly reshaping supply chain management by providing greater transparency, security, and efficiency. As promising as the Blockchain is, previous research fails to provide solutions for bringing Blockchain into real-world practice, for getting it up to mass scale, and for ensuring that it meets the regulators’ requirements and these factors limit a more widespread adoption of Blockchain. By offering a review of blockchain-based supply chain management initiatives, their pros and cons, and addressing under-researched topics related to optimized consensus mechanisms, interoperability solutions, and AI-driven solutions integration, this research fills the gaps to decrease inefficiencies in supply chains. As part of the latter, the study presents zero-knowledge proofs, decentralized identity verification and cross-chain protocols as potential solutions to address security concerns and enhance interoperability among multiple chains. Also, a deeper implementation roadmap is provided, enabling pragmatic applicability in real business operations across the global supply chain. By analyzing cases, the study emphasizes the practical contributions of blockchain in traceability, fraud prevention, inventory optimization, and automated contract execution. The results highlight blockchain as a scalable, secure, and legally compliant technology for solving modern supply chain problems, filling the gap between theory and practical adoption.
Hye Jin Lee, Duc Anh Luong, Jong Hwan Park, Hyoseung Kim
Performance appraisal is crucial in human resource management to identify areas within organizations. Ensuring anonymity and confidentiality is important to obtain honest feedback and prevent retaliation. Although blockchain-based anonymous reputation systems have been discussed, permissioned blockchains are susceptible to Sybil attack vulnerabilities, while permissionless private blockchains do not provide full anonymity. We present the Anonymous Reputation System for Performance Appraisal (ARSPA), which uses a permissionless public blockchain. This system is designed for upward feedback in performance appraisals, employing cryptographic techniques such as non-interactive zero-knowledge proofs, public key encryption, and Merkle trees to ensure security. Our protocol addresses the risks of Sybil attacks, ensures review limitation and unforgeability. We validate the security of ARSPA through analysis and demonstrate its feasibility through proof-of-concept on Ethereum test networks. ARSPA provides a secure and efficient approach to improve the reliability and fairness of performance appraisal.
Digital transformation is revolutionizing business agreement management by replacing traditional contract processes with blockchain-enabled smart contracts. Conventional contracts involve extensive paperwork, manual verification, lengthy negotiations, and multiple intermediaries, leading to increased costs and operational delays. Smart contracts automate contract execution based on predefined conditions, providing enhanced security, transparency, trust, and efficiency through decentralized blockchain technology. Smart contracts are widely adopted across industries such as banking, finance, healthcare, logistics, supply chain management, real estate, and international trade to automate payments, regulatory compliance, ownership transfers, and business transactions. The integration of Artificial Intelligence (AI), Internet of Things (IoT), cloud computing, and big data analytics further improves intelligent decision-making and automated compliance monitoring. This study proposes a comprehensive smart contract framework incorporating blockchain deployment, consensus validation, automated execution, secure transaction recording, continuous monitoring, and performance evaluation. Mathematical models are used to assess execution efficiency, transaction integrity, computational performance, and security reliability, while key performance indicators include execution accuracy, operational efficiency, transaction transparency, processing latency, cost optimization, and compliance effectiveness. The results demonstrate that smart contracts significantly reduce manual intervention, improve transparency and security, accelerate business transactions, and enhance organizational accountability. The proposed framework provides a secure, efficient, and scalable approach for modern business agreement management, supporting enterprise digital transformation and trustworthy blockchain-based ecosystems.
Bollampelly Chandana, Hasan Hussain S, Ravi Kishore Veluri, Rák K · 6 authors
It caters to a decentralized, trusted ecosystem via smart contract management development with blockchain technology and artificial intelligence that automatically execute and enforce agreements. Complex and dynamic interactions are dealt with effectively and efficiently through blockchain technology. In the proposed virtual environment, blockchain is integrated into smart contact management. It solves the existing problems by applying hybrid optimization techniques, such as stochastic gradient and mini-batch stochastic optimization, which enhance auto-decision-making and optimize the data coming from complex structures. This technique improves scalability, latency, and resources utilization, hence optimizing the applications within the virtual platform. Other performance metrics that may be improved include transaction processing speed, resource utilization, and execution time of contracts. It is designed in a way to enhance supply chain management, decentralized applications, and virtual asset exchanges by making use of blockchain technology. The system ensures the reliability and transparency of smart contract execution with prevention from possible frauds and unauthorized modifications. Further, the results will be analyzed by using a Matlab simulation platform and compared with existing systems to get optimal results.
This thesis examines the feasibility of implementing a retail Central Bank Digital Currency (CBDC) in Qatar using an Ethereum-based blockchain architecture. The research is motivated by Qatar's strategic objectives, including improving payment infrastructure, enforcing monetary policy, fintech innovation and infrastructure modernization. A literature review examined global CBDC initiatives, blockchain architectures, consensus mechanisms, and programmability features, focusing on governance models, privacy frameworks and interoperability.The findings of this literature review informed the design of a modular, four-layered system aligned with Qatar’s institutional structure and regulatory requirements. The proposed system leverages Hyperledger Besu with QBFT consensus for deterministic finality and Tessera for transaction-level privacy. A suite of smart contracts was developed to manage compliance (KYC/AML), role-based access, cash compatibility and cross-border transactions. Implementation and deployment were conducted using a private network of 4 validator nodes, configured via Docker, with supporting infrastructure built on a dedicated virtual machine.Functional and empirical testing confirmed the network's ability to maintain consensus under fault scenarios, enforce compliance through smart contracts and achieve limited confidentiality among privacy groups. Scalability testing revealed throughput of up to 127 transactions per second with up to 8 validators and block intervals of 1 second; however, performance degraded with 12 validators, identifying current limits in scalability and resource efficiency. Similarly, privacy enforcement via Tessera was effective in basic cases but encountered limitations with standard ERC-20 contract compatibility.In conclusion, the study confirms that an Ethereum-based blockchain is viable for controlled deployment in Qatar. This is primarily due to its programmability, which ensures regulatory compliance and fosters the development of innovative financial products. However, limitations in privacy and scalability necessitate further research into scaling techniques and alternative privacy solutions to meet the requirements of nationwide retail CBDC implementations. Alternatively, dedicated blockchain frameworks and ERC standards for CBDCs can offer a more sustainable option that natively supports the scalability and privacy requirements of central banking.
Modern demand for blockchain scaling demanded the developmentof sharding as a viable solution that facilitates parallel processingwhile supporting cross-shard communications. The implementation ofsharding provides excellent scalability to decentralized systems, but itentails enormous complexities in maintaining integrity of smart contracts across different shards. This study analyzes pivotal deploymentslike Ethereum 2.0, NEAR protocol, and Polkadot. This innovationidentifies vulnerabilities on atomicity, consistency, and validator security when executing decentralized applications (dApps). This researchreviews contemporary literature and emerging technologies to identifykey security risks such as replay attacks, shard takeover, and data unavailability events. Various methodologies for reducing vulnerabilities,including atomic commit protocols, dynamic validator assignment,zk-SNARKs, and SP-Chain architecture, are assessed in this report.This study evaluates the implementation of an Escrow smart contract that utilizes Practical Byzantine Fault Tolerance (PBFT) and Proofof-Stake (PoS) coordination protocols through evaluation tests. Thisresearch work analyzes code using both static and dynamic methods to detect security weaknesses in contracts and then recommendssolutions that enhance the robustness of these contracts.The intelligent contract is tested for performance in single-shardmode as well as cross-shard operations. It experiences quick responsetimes and effective data processing with single-shard execution butfaces latency, receipt verification issues, and synchronization difficulties with cross- shard operations. This study findings are that organizations require more effective systems for communication of databetween shards. This research suggests future improvement throughthe addition of zero-knowledge proofs, dynamic re-sharding procedures, and decentralized arbitration secure and scalable smart contractdeployment methods. The proposed solution is applicable to use casessuch as freelancing, crowdfunding, and supply chain processes, withdemonstrations using real-life examples.As a result of the comprehensive assessment, improved safe smartcontract frameworks for next generation blockchain systems are developed, making it easier to implement decentralized applications widelyin scale network contexts.
Luigi Pavarini de Lima, Liliam Sayuri Sakamoto, Jair Minoro Abe, Marcelo Borges Rocha · 11 authors
Considering the growing technological innovation with the use of the Metaverse as an environment for educational, corporate, and governmental interaction, in contrast to the risk of cyberattacks, there is an urgent need to strengthen its security, especially when there is the possibility of transacting assets with NFTs—Non-Fungible Tokens—which are high-value objects acquired and traded through blockchain technology. The objective of this article is to propose a research framework to optimize the security of these NFT assets using DLP—Data Loss Prevention—and Paraconsistent Logic to identify threats not only preventively but also by actively detecting loss, theft, misuse, and leakage of these types of assets during the use of the Metaverse. With a literature review on the Metaverse, DLP—Data Loss Prevention, Evidential Annotated Paraconsistent Logic Eτ, Artificial Intelligence techniques, NFTs—Non-Fungible Tokens, and data protection, the study will employ a Python program to conduct applied research using data from a transportation company, which shows a 37% data loss rate in its analysis. Through this Artificial Intelligence process and statistical concepts, compared to the minimization of data loss in the analysis using Evidential Annotated Paraconsistent Logic, Eτ resulted in 23%, indicating a significant difference of 15%, complemented as a tool to improve decision-making accuracy