This study explores the transformative potential of Blockchain technology within the tourism sector, with a primary focus on its role in promoting sustainability and enhancing stakeholder engagement. Employing a qualitative methodology, this study incorporates interviews with ten industry experts and key stakeholders in tourism. The findings underscore Blockchainâs capacity to bolster sustainability efforts by fostering transparency, traceability, and accountability. This, in turn, enables effective monitoring of supply chains, validates eco-friendly certifications, and verifies adherence to sustainable practices. In addition, Blockchain empowers local communities by offering a decentralized platform for participation and decision-making. This study also identified critical challenges, including the necessity for scalable and energy-efficient Blockchain solutions, along with the imperative to address legal and regulatory impediments. The outcomes not only enrich our understanding of Blockchainâs potential in the tourism sector but also provide valuable recommendations for future research and implementation. Blockchain technology is poised to revolutionize tourism, champion sustainability, and cultivate collaborative stakeholder relationships.
Traditional cab booking applications suffer from many issues, including centralized control, data vulnerabilities, and high operational costs paid to companies. These limitations necessitate a transition towards decentralized alternatives to address the growing need for more efficient, cost-effective, and secure transportation services. This paper presents an idea that uses blockchain technology to improve the cab booking system. In the proposed system, the aim is to eliminate central authorities, offering an array of benefits such as enhanced security, reduced costs, and increased transparency throughout the booking process. To achieve this, smart contracts are employed to automate and secure transactions. The client-side page is deployed to the InterPlanetary File System (IPFS) for improved accessibility and redundancy. Additionally, the creation and utilization of oracle networks for real-time, trustworthy location data are suggested. The approach represents a paradigm shift in the transportation industry, ensuring data privacy, cost-efficiency, and transparency while eliminating the need for centralized intermediaries. Through the integration of smart contracts, IPFS, and oracle networks, a promising path towards a decentralized and secure cab booking ecosystem is offered.
Equity crowdfunding via the Internet is a new channel of raising fund for startups. It features low walls to entry, low cost, and high speed, and therefore encourages invention. In recent times, equity crowdfunding in India has endured some developments. still, some problems remain unsolved in practice. Blockchain is a decentralized and distributed tally technology to ensure data security, transparency, and integrity. Because it cannot be tampered, the technology is supposed to have great eventuality in the finance assiduity. This study examines current problems in the practice of equity crowdfunding in India. Grounded on the analysis of the characteristics of blockchain technology, this study further explores its practical operations in crowdfunding. Blockchain technology is a secure, effective, low- cost result for the enrolment of stocks and shares of a establishment financed by crowdfunding. First, a vendor initiates a request for ensuring a product, then the interested lenders participate in a project Key Words: Blockchain, crowdfunding, Fundraising, Project Registration and Transaction, Voting of Shareholders, Ethereum, Smart Contracts
Sampson Anomah, Boadu Ayeboafo, Maurice Aduamoah, Owusu Agyabeng
In an era marked by a profound digital transformation of economies worldwide, Ghana stands as a vivid example of a nation at the crossroads of taxation evolution. The country's tax policies are undergoing a significant shift to adapt to the burgeoning digital economy, with a keen focus on capturing and regulating the ever-expanding revenue streams generated through online enterprises. This research explored the potential of integrating blockchain technology with tax policy. Unstructured and semi-structured interview questions were designed to obtain insight into the problem. A survey was conducted to obtain views on the variables that explained the potential of integrating blockchain technology with tax policy to enhance the effectiveness of taxing online enterprises in Ghana. The study used correlation analysis to confirm propositions derived from preliminary interview and the review of literature. It was found that while blockchain offers significant advantages in bridging the gap for effective online taxation in Ghana, there are challenges which include institutional and regulatory conformity issues, technical integration and alignment incompatibility, and inadequate stakeholder engagement. This result may be useful in the design of tax online tax policy in Ghana and other jurisdictions with similar socio-economic environment.
This study compares conventional crowdfunding sites with those that make use of blockchain technology. The paper begins by outlining the history of crowdfunding and the difficulties faced by investors, including fraud and a lack of transparency. The use of blockchain technology and its potential advantages for crowdfunding platforms, including improved security, transparency, and efficiency, are then explained. The next section of the paper describes the design and implementation process for a crowdfunding platform that uses blockchain technology. Data is then gathered to evaluate the platform's effectiveness. The analysis's findings demonstrate that blockchain-based crowdfunding platforms have a number of advantages over conventional platforms, including improved security, transparency, and affordability. The paperalso compares the platform to conventional crowdfunding platforms and assesses the platform's performance using a number of parameters. According to the study, crowdfunding platforms built on blockchain have many advantages over conventional platforms, including a quicker transaction processing time and lower transaction fees. The paper concludes by outlining the study's limitations, discussing the implications of the research findings, and offering suggestions for further research. In conclusion, this study offers insightful information about the potential of blockchain technology for crowdfunding platforms and provides a solid foundation for future research in this area.
Recent interest rate rises and economic unrest have caused a significant contraction in the decentralized financial industry. The large-scale decline compared to the traditional institutionalized financial industry shows that the right level of financial regulation can help to revitalize the market. As such, the need for regulation in the decentralized financial industry is increasingly recognized, but the discussion is limited to the characteristics of the underlying virtual assets, and there is a lack of discussion on the technologies that form the basis of the decentralized financial industry, such as smart contract. There is much debate about the definition of a smart contract, but basically, a smart contract can be defined as computer code, implemented on blockchain technology, that, upon the occurrence of a specified condition or conditions, is capable of running automatically according to pre-specified functions. The origin of smart contract technology does not necessarily require blockchain technology, but the current usage and practical implementation of the term usually involves blockchain technology. These smart contracts are associated with various legal issues due to the important characteristics of (1) anonymity, (2) inconsistency between intent and code content(Similar to the issue âder Unstimmigkeiten von Willen und ErklĂ€rungâ), (3) circumvention, and (4) decentralized autonomous organization. The existing regulatory discourse is excellent at achieving its objectives, but it has limitations in terms of (1) specificity and (2) voluntariness. A new regulatory approach needs to consider the specific characteristics of smart contract, the main transaction method of Decentralized finance, while encouraging voluntary responses from individuals. The Smart Contract Self-Review Board, Private Key Custodian Organization, and Entrusted Certification System are solutions based on these requirements, but it is difficult to judge that they completely solve the legal problems of smart contracts, and further discussion is needed on a regulatory method with an incentive structure that can attract voluntarism.
The research paper examines how blockchain technology has profoundly changed a number of businesses, especially when it comes to the use of smart contracts.It explores the particular use of smart contracts in the context of crowdfunding with the goal of clarifying how they might improve and streamline the decisionmaking procedures that are a part of crowdfunding campaigns.The study illuminates how smart contracts might tackle typical problems encountered in traditional crowdfunding models, such as trust, transparency, and contract enforcement, by examining the core workings of these contracts.Based on a thorough literature review and empirical analysis, the study article highlights the significant influence that smart contracts have on crowdfunding decision-making processes.Smart contracts ensure increased transparency, security, and efficiency in the deployment of funds in addition to lowering transaction costs by doing away with the need for middlemen and creating a trustless environment.Additionally, the research explores the critical function of self-executing code in automating the distribution of cash according to predetermined criteria.This reduces the possibility of misallocation and makes it possible to evaluate project ideas in a more thorough, meritocratic manner.The application of smart contracts in crowdfunding scenarios may present certain obstacles, including scalability concerns, legal considerations, and the requirement for user-friendly interfaces.These challenges are also covered in the article.Through the integration of theoretical understanding with real-world case studies, the study offers a thorough framework that enables crowdfunding ecosystem participants to take full use of smart contract advantages while skillfully mitigating related dangers.
Crowd-funding, also known as crowd financing or crowd-sourcing of funds, has emerged as a popular alternative method for raising capital in recent years. In the dynamic realm of cryptocurrencies, this paper introduces a groundbreaking transaction system tailored to give users the autonomy to establish and maintain personalized price conditions for Ethereum (ETH) transactions. In response to the inherent volatility of cryptocurrency markets, the core objective of this system is to ensure the legitimacy of funds conveyed to campaign fundraisers. Users are endowed with the authority to stipulate the quantity of ETH they intend to transmit, define the initial USD valuation of ETH at the transaction's inception, and set a predetermined timeframe within which the transaction is slated for execution. This comprehensive approach yields a transparent and secure mechanism, ensuring the precision of transaction processing even amidst the market's capricious fluctuations. In scenarios where market conditions deviate from the user's predefined price, the system adeptly redirects funds to the campaign raiser, integrating the value of ETH at the user-designated moment, thereby fostering heightened reliability in cryptocurrency transactions.
In recent years, the increasing need for crowdfunding has become a prominent phenomenon, driven by a variety of factors shaping the contemporary economic landscape. One of the primary catalysts is the surge in entrepreneurial ventures and innovative projects seeking funding outside traditional financing channels. Entrepreneurs and creators, often facing challenges in securing loans or traditional investments, turn to crowdfunding platforms as an alternative avenue to access capital. This study presents a comprehensive methodology for developing a decentralized platform, employing a sophisticated technology stack. The backend is crafted using Solidity for smart contract development, ensuring secure and transparent financial transactions. React and Vite form the frontend to deliver a responsive user interface, complemented by the integration of the MetaMask wallet for a secure user experience. The platform's scalability and cost-effectiveness are enhanced through the incorporation of the Polygon chain. Smart contracts, fundamental to the decentralized architecture, enable trustless execution of financial operations. Alchemy serves as a middleware, optimizing data flows between the frontend and blockchain. This approach has the power to completely transform the crowdfunding process. The incorporation of these technologies benefits the crowdfunding platform by enhancing security, scalability, transparency and user interface, while users experience increased trust, efficiency, and a streamlined process when participating in crowdfunding campaigns. This study is quite promising and helps people overcome the increasing difficulties they experience in the contemporary existing platform and ultimately fosters a more robust and user-centric crowdfunding ecosystem.
The digital landscape is poised for a transformative shift with the advent of Web3. This dynamic and ever-evolving realm provides a comprehensive overview of the chapter, offering insights into the trends shaping the internet's future. Web3 represents a paradigm shift in how society interacts with the digital world, characterized by decentralization, blockchain technology, and user empowerment. This chapter explores the emerging trends that are set to define the Web3 ecosystem in the coming years. The future of Web3 is crucial to understanding the trends and predictions that will shape our digital world. This chapter equips individuals and organizations with valuable insights to anticipate and harness the unfolding transformations in our digital future.
The final summary of the book captures the key conclusions from the analysis: much of existing UK financial services regulation is already fit for the purpose of being applied to centralised providers of DLT-based financial services. Equally, existing home and host-state regulations are capable of solving questions of jurisdiction and applicable law. However, four aspects of DLT-based financial services do give rise to unique regulatory considerations: stablecoins that create digital versions of fiat currency; utility tokens that do not fall under financial services regulation; fully decentralised models of finance that have completely decentralised governance structures; and the settlement, custody and reporting mechanisms that are an inherent characteristic of utilising distributed rather than centralised databases.
Amina Syarfina Abu Bakar, Mohamed Razeef Abd Razak, Rusmadiah Anwar
Evolution in digital platform for gig economy has transformed rapidly since the global pandemic. The evolution spikes, especially on digital platform jobs, are referred to as âfreelancersâ, âgiggersâ, or âwork on demandâ depending on their industry. Hence, this study examines the evolution of digital platform for gig economy, specifically for design industry from various field such as advertising, graphic design, brand design management, photography, fashion, architecture and the latest in the digital era Non- Fungible-Token (NFT). Systematic literature review was applied to identify the objective of evolution in digital platform for the business market in design industry which leads to digital business. Client relationships and management were also included as the impact factors of the evolution. The current research synthesis is obtained to develop a fundamental conceptual framework for the purpose of delivering the summary of the available primary resources. The current study produced preliminary results in reflection amongst the designers on the forced evolution on the new digital platform, challenges in transformation of business plan, marketing Metaverse, and artificial intelligence (AI), the gig economy attitude toward work as well as reduced professional efficacy if lack of management. This study hopes to support the business for gig economy practitioner performance to shed light on the new normal of work in design industry. Keywords: design industry, digital platform, design Management, GIG economy
Fulya Açikgöz, Nikolaos Stylos, Sophie Lythreatis
Purpose The purpose of this study synthesises the body of research revolving around blockchain technology (BCT) whilst drawing on the technology-organization-environment framework, resource-based theory and theory of constraints, to conceptualize capabilities (enablers) and constraints (barriers) of BCT in the hospitality and tourism (H&T) industry. Design/methodology/approach A systematic literature review of BCT in the hotel and tourism industry has been achieved through two databases, i.e. Scopus and Web of Science. From 544 articles selected between the years 2008 and 2023 (first quarter), a sample of 49 articles was used to structure existing research on this subject. Findings The findings of this systematic literature review of BCT in the H&T literature establish a solid groundwork for assessing the evolution of this research area over time. Findings are classified into two groups: capabilities (enablers) and constraints (barriers) of BCT based on publication year, different research methods, theoretical underpinnings and applicable contexts. Originality/value To the best of the authorsâ knowledge, this is one of the first attempts to synthesize studies related to BCT in H&T research by combining three theoretical approaches. It serves as a foundation to evaluate the development of BCT studies in this field.
In the contemporary landscape of financial systems and digital innovations, the convergence of blockchain technology and crowdfunding models has unveiled a promising avenue for revolutionizing traditional fundraising platforms. This research paper delves into the intricate fabric of designing and implementing a robust crowdfunding platform underpinned by the decentralized principles of blockchain technology integrated with Artificial Intelligence. The research embarks on an in-depth exploration of the underlying mechanics of blockchain, elucidating its distributed consensus, immutability, and transparency features. A comprehensive survey of existing literature pertaining to crowdfunding and blockchain integration is presented, establishing a solid foundation for the proposed platform's development. The conceptual framework delineates the architectural blueprint of the decentralized crowdfunding platform, intricately woven with smart contracts, artificial intelligence, cryptographic protocols, and a personalized recommendation system. The amalgamation of these components engenders an environment that ensures trust, security, and automation throughout the crowdfunding lifecycle. Moreover, this paper delves into the pivotal aspect of tokenization within the blockchain-based crowdfunding ecosystem. By implementing these cases against theoretical frameworks, the paper elucidates a comprehensive set of best practices and potential pitfalls that can guide the development and deployment of a successful blockchain-based crowdfunding platform.
Consumersâ growing interest in the environmental and social impacts of products has increased demand for sustainable fashion items, particularly denim. Emerging technologies such as blockchain technology and labeling certifications have been developed to address sustainability issues by improving supply chain transparency and efficiency. This research investigates the trade-offs consumers make when purchasing sustainable denim jeans and the impact of sociodemographic factors on their decision-making process. Employing a conjoint analysis approach, four attributes were examined: price, brand name, types of materials, and eco-labeling. The results indicated that price is still the most influential factor, followed by material, brand name, and eco-label. Although eco-labeling is of little importance to consumers, it offers valuable insights for effective communication of sustainable practices. Consumers prefer denim with a blockchain eco-label, followed by a fair-trade certificate. This research enhances the understanding of consumer behavior toward sustainable consumption and offers strategic insights for denim producers and marketers.
J. R. Arunkumar, M Aswathy, Rohit Mathew Samuel, Sai Shibu N B
The issue of traffic congestion and air pollution has emerged as a significant concern in contemporary metropolitan regions, demanding the implementation of inventive measures to mitigate these problems. Ride-sharing or Carpooling has emerged as a promising strategy to mitigate excessive traffic congestion while decreasing the per capita carbon footprint. Nevertheless, traditional carpooling systems have notable security and privacy concerns, such as susceptibility to cyber threats and the potential for car owners or carpooling platforms to exploit data. This paper presents a novel approach by incorporating blockchain technology into the carpooling network. Blockchain technology presents a resilient alternative for augmenting security and ensuring data integrity within ridesharing networks since it operates as a decentralised and tamperproof ledger. Additionally, it facilitates the optimisation of ride-sharing operations and the implementation of cost-sharing mechanisms via Smart Contracts. The paper outlines the smart contracts developed to enrol clients and drivers on the platform, facilitate ride-sharing, manage payments, and collect feedback. Additionally, a performance assessment was conducted on the efficacy of the aforementioned smart contract, and a thorough analysis of the outcomes was undertaken.
Purpose Presently, existing electric car sharing platforms are based on a centralized architecture which are faced with inadequate trust and pricing issues as these platforms requires an intermediary to maintain usersâ data and handle transactions between participants. Therefore, this article aims to develop a decentralized peer-to-peer electric car sharing prototype framework that offers trustable and cost transparency. Design/methodology/approach This study employs a systematic review and data were collected from the literature and existing technical report documents after which content analysis is carried out to identify current problems and state-of-the-art electric car sharing. A use case scenario was then presented to preliminarily validate and show how the developed prototype framework addresses the trust-lessness in electric car sharing via distributed ledger technologies (DLTs). Findings Findings from this study present a use case scenario that depicts how businesses can design and implement a distributed peer-to-peer electric car sharing platforms based on IOTA technology, smart contracts and IOTA eWallet. Main findings from this study unlock the tremendous potential of DLT to foster sustainable road transportation. By employing a token-based approach this study enables electric car sharing that promotes sustainable road transportation. Practical implications Practically the developed decentralized prototype framework provides improved cost transparency and fairness guarantees as it is not based on a centralized price management system. The DLT based decentralized prototype framework aids to orchestrate the incentivize monetization and rewarding mechanisms among participants that share their electric cars enabling them to collaborate towards lessening CO 2 emissions. Social implications The findings advocate that electric vehicle sharing has become an essential component of sustainable road transportation by increasing electric car utilization and decreasing the number of vehicles on the road. Originality/value The key novelty of the article is introducing a decentralized prototype framework to be employed to develop an electric car sharing solution without a central control or governance, which improves cost transparency. As compared to prior centralized platforms, the prototype framework employs IOTA technology smart contracts and IOTA eWallet to improve mobility related services.
Chaoyue Gao, Bin Gu, Alvin Chung Man Leung, Xianwei Liu · 5 authors
The swift advancement of social technologies has created unprecedented opportunities for companies to embrace new business models or bolster their existing ones. However, the adoption of controversial technologies with social characteristics can also expose firms to risks, as these technologies may not be entirely under their operational control. In this study, our objective is to analyze the impact of the adoption of a controversial technology (i.e., cryptocurrency payment) on usersâ perception of a firm and firm performance and examine how social media influences this impact. We leverage a unique research context where an online travel agency cooperates with Travala.com for cryptocurrency payment. Using conventional and synthetic difference-in-differences and randomized experiments, we compare the general perceptions of customers towards the online travel agency before and after the cooperation and gain three main findings. First, the adoption of cryptocurrency payment generally leads to a significant decrease in revenue because of the negative associations concerning cryptocurrency. Second, the popularity of cryptocurrency payment on social media mitigates this negative effect. Third, when cryptocurrency prices rise and public opinions on cryptocurrency turn positive, the mitigation effect is more salient. Further analysis reveals that our results are robust after controlling for the seasonality effect and the nature of the collaboration and using different lags for the outcome variable. This study is among the first to empirically examine how cryptocurrency payment adoption affects firm performance, and provide important theoretical and practical implications regarding the adoption of controversial technologies and the externalities of social media.
Christopher GroĂmann, Katrin Merfeld, Jan F. Klein, Franziska Föller · 5 authors
While the sharing economy has promised to solve a range of problems associated with traditional consumption, the reality is more akin to its inability or even exacerbation of economic and societal issues. We propose that blockchain technology could address these issues. To this end, we explain its potential by elaborating on how blockchain-based sharing services can help solve exploitation, data abuse, financial and legal risks, and the limited accessibility of current sharing practices. Moreover, we conduct a meansâend chain analysis to provide a customerâs perspective on the motivations and fears related to blockchain-based sharing solutions. We find four motives (trust, self-determination, quality of life, and security) and two fears (mistrust and economic interest) related to blockchain-based sharing. By juxtaposing the potential benefits of blockchain-based shared services with customer insights, we provide an outline of research avenues for promoting blockchain-based sharing to overcome the current dark side of sharing practices.
Abstract Technologies of self-sovereign identity (SSI) and Web3 tools that strongly protect individual autonomy, combined with the ethics of Asian altruism, can effectively guide the governance of the emerging cyber civilization. In contrast, governance in Western industrial civilization stresses the pursuit of individual self-interest and struggles to balance the benefits of big tech with the protection of individual dignity and the preservation of the common good. We demonstrate, with reference to a local community in Japan, that SSI is successful in encouraging communal collaboration and well-being while providing individuals with greater control over their personal data. We also show that Web3 tools provide incentives for altruistic behaviors while safeguarding SSI. Integration of SSI and social protection demonstrates the potential for building an information society grounded in altruistic values, honoring individual dignity, and recognizing the governmentâs role in protecting social welfare. Ultimately, this research unveils how altruistic values can be fostered through SSI and Web3.
Anjar Sri Ciptorukmi Nugraheni, Adalia Safira Rahma
Purpose: The development of digital finance is leading to the increasing use of Smart Contracts because of their simple and self-executing characteristics. However, there exists the potential for legal loopholes, including protection of the included parties aside from the simplicity and convenience. Methods: A normative method using primary, secondary, and non-legal materials was adopted. Meanwhile, legal materials were collected through literature review and analytical methods based on deductive syllogism. Results and Conclusion: The results showed that the synchronization of regulations supported the development, certainty, and stability of the Indonesian economy. The application of contracts law, technological neutrality, and privacy principles in Indonesian regulations related to the proliferation of technology-based contracts was adequate. Research implications: Therefore, this research analyzed the extent to which the Indonesian legal system afforded adequate protection to parties and identified the improvements necessary for the future development of Smart Contracts. Originality/value: It analyzes the importance of existing regulations with the social demands of the community to ensure the prompt establishment of economic certainty and stability.
Distributed ledger technologies (DLT) are increasingly considered to enhance payment systemsâ and market infrastructuresâ functionalities like their accessibility and interoperability. We explore DLT architecture options to enable a new tiered access in the RTGS system of Chile for new payment service providers (PSP). We find that by introducing decentralized apps (DApps) the RTGS system would become more accessible and interoperable by enabling a tiered access to new participants. Our work also suggests that central banks exploring design alternatives for retail Central Bank Digital Currencies (CBDC) could find relevant our approach as a pivot to build a far-reaching PSP network.