With the degradation of the environment due to increasing ecological destruction and pollution, sustainable development has become the paramount objective of social progress. As a result, the concept of green development has garnered considerable attention, which is an important starting point for China to achieve stable economic development and sustainable ecological development. To achieve high-quality economic progress while advancing environmentally friendly practices, it is imperative to formulate and uphold a sound green credit system. However, the phenomenon of greenwashing by enterprises still exists, which compromises the efficacy of green credit and hinders the long-term sustainable and well-organized progress of green finance. Building on the background of green credit, considering the existence of blockchain and government subsidies and adopting the method of tripartite evolutionary game, this paper examines the strategic decisions made by the government, financial institutions, and small and medium-sized enterprises in the context of greenwashing. An emphasis is placed on the impact of blockchain technology on the three parties involved in the green credit market. The findings demonstrate that blockchain technology can diminish the likelihood of greenwashing by businesses and enhance the impact of government subsidies. However, it cannot replace the regulatory authority of the government in sustainable development. Moreover, excessive subsidies can stimulate more greenwashing practices, but eliminating subsidies does not eradicate the root of greenwashing. To encourage sustainable economic development and minimize corporate defaults, the government ought to reinforce supervision and establish a robust social surveillance and publicity mechanism. This paper broadens the research perspective on the effectiveness of green credit and provides some empirical and theoretical references for further promoting the green transformation of SMEs and the sustainable development of the ecological environment.
Nidal Zaqeeba, Hamza Alqudah, Badi Salem Rawashdeh, Abdalwali Lutfi · 6 authors
The objective of the present study is to measure the impact of blockchain technology on financial reports. The study utilizes a time series analysis covering eleven commercial banks listed on the Amman Stock Exchange from 2009 to 2019. Two key measures, namely other operating expenses and customer deposits are employed in the Return on Assets (ROA). The findings indicate that blockchain technology can be quantified by 0.038 of other operating expenses. However, there are no discernible indications of measuring blockchain technology through customer deposits. The study suggests that blockchain technology is a double-edged sword; when not utilized as required, it leads to increased expenses, and conversely, its effective exploitation can have cost-reducing effects. In other words, operational inefficiencies or heterogeneity are associated with elevated costs associated with implementing blockchain technology. Doi: 10.28991/HIJ-2024-05-02-014 Full Text: PDF
‘Sustainable Finance’ refers to the process of taking environmental, social, and ‘Blockchain Technology (BCT) is a decentralized and distributed ledger system that enables secure and transparent recording of transactions across a network of computers. It has immense potential to revolutionize sustainable finance reporting. By leveraging BCT’s inherent transparency, immutability, and decentralized nature, organizations can enhance trust and accountability in reporting practices related to sustainability initiatives. The ever growing importance of ‘Sustainable Finance’ and the need for transparent reporting in this field need not be exaggerated. Of late, BCT has emerged as a disruptive force in improving transparency and accountability. Traditional Reporting practices face several challenges in today's dynamic business environment. Addressing these challenges requires organizations to embrace innovation and adopt modern reporting practices that prioritize timeliness, transparency, relevance, and stakeholder engagement. This may involve leveraging advanced analytics, automation technologies, integrated reporting frameworks, and interactive data visualization tools to enhance the quality, accessibility, and usability of reporting processes and outputs. Sustainable Finance Reporting (SFR) plays a crucial role in promoting transparency, accountability, and responsible investment practices within the financial sector. It is essential for promoting responsible investment, managing risks, enhancing transparency, and driving long-term value creation in the financial sector. By integrating sustainability into their reporting practices, financial institutions can contribute to a more sustainable and resilient global economy. Adopting BT offers numerous benefits and opportunities across various industries. BCT Framework provides a robust and innovative platform for building decentralized applications, facilitating secure and transparent transactions, and transforming various industries and sectors. This comprehensive Concept Paper provides an overview of BTS’s Framework, challenges involved in traditional reporting systems and SFR, the potential and promise of BCT, its benefits and opportunities, and practical applications.
Takayuki Suzuki, Ken Naganuma, K. Fukuchi, Takatoshi Ohara
As transactions of monetary value on the public blockchain become more widespread, there is a growing demand that the transactions be verified as legitimate. As a result, it has become mandatory for crypto asset exchanges to perform identity verification. On the other hand, Bitcoin and other public blockchains are easy to start transactions with, and the anonymity of the transactions is a significant value for users. To achieve these conflicting requirements at a certain level, we developed a method to manage information generated from a user’s biometric information with smart contract and link transactions on the blockchain to real people. This mechanism makes it relatively easy for the user to claim their identity while the operator can control the degree of identity verification.
The advent of smart cities has paved the way for transformative advancements in healthcare, particularly in the domain of disease diagnosis. In the wake of the COVID-19 pandemic, accurate and timely identification of Pandemic diseases has become paramount. This paper explores the challenges and opportunities in synergizing Artificial Intelligence (AI), Internet of Things (IoT), and Blockchain technologies for diagnosis of Pandemic diseases in smart cities. This study provides an overview of each technology and its relevance to sustainable healthcare in smart cities, emphasizing its potential for analyzing medical data and making informed decisions. We also explore how IoT devices can contribute to disease surveillance, enabling real-time data collection and remote healthcare. Additionally, we discuss the potential of Blockchain in ensuring secure and transparent healthcare systems. Following, the paper study the synergistic potential of integrating AI, IoT, and blockchain, emphasizing how their combined strengths can enhance the accuracy, efficiency, and security of COVID-19 diagnosis systems in smart cities Moreover, the paper highlights the challenges in integrating these technologies and the opportunities for research and implementation, underlining the significance of synergizing AI, IoT, and Blockchain in disease diagnosis in smart cities. The findings demonstrate that the convergence of AI, IoT, and blockchain can enhance the speed and accuracy of diagnosing Pandemic diseases, leading to more effective containment and management strategies.
In the modern environment of information and communication technologies, the basic mechanisms of business and exchange of goods are based on electronic business and electronic business transactions. It is precisely with the development of new technologies that a new modern form of business opens as an alternative to traditional transactions: contracts in electronic form and smart contracts. Small and medium-sized companies in Croatia have found themselves at a turning point in the modern business environment and the transition from traditional contracts to electronic and smart contracts. Special attention is paid to the analysis of the relationship between smart contracts and existing legal standards, as well as to the question of which law is applicable to this type of contract. Therefore, in this paper, an analysis of the perception of managers of small and medium-sized Croatian companies about electronic and smart contracts, as well as their application in contractual business relations, was made through empirical research.
Shrushti S. Zade, Sakshi S. Atrik, Aarti P. Pimpalkar
The metaverse is a rapidly evolving digital frontier that is redefining the way we interact, work, and play in the digital realm. This abstract provides a concise overview of the concept, its significance, and the key elements that shape its existence. The metaverse is a collective virtual shared space, merging physical and digital realities, where individuals can interact, create, and transact in immersive and interconnected digital environments. It is not confined to a single platform or technology but represents a constellation of interconnected virtual worlds, augmented reality, virtual reality, and 3D spaces. Blockchain technology has emerged as a revolutionary innovation that fundamentally transforms the way we establish trust, share data, and conduct transactions in a digital world. This abstract provides a concise overview of blockchain, highlighting its core principles and its profound impact across various industries. Blockchain is a distributed ledger system that enables secure, transparent, and tamper-resistant record-keeping through a decentralized network of nodes. This technology underpins cryptocurrencies like Bitcoin but extends far beyond digital currencies, offering solutions for supply chain management, voting systems, healthcare, and more. Non-fungible tokens (NFTs) have emerged as a groundbreaking application of blockchain technology, transforming the way we perceive and trade digital assets within the metaverse. NFTs are unique digital tokens that represent ownership or proof of authenticity of digital assets, often encompassing digital art, virtual real estate, collectibles, and more. Leveraging blockchain technology, NFTs offer a secure and transparent method for creators and collectors to trade and interact with digital content in the metaverse
Currently, Artificial Intelligence (AI) model trading has gained increasing attention from academia and industry. Although of great appeal, it poses a series of challenges when applied in decentralized collaborative trading scenarios. On the one hand, model owners should constantly fine-tune AI models to meet customized needs, which causes heavy updating overhead. On the other hand, collaborative AI model training results in copyright sharing between multiple owners, which necessitates differential AI model royalties to adapt to the development of trading market. To address these challenges, we design a smart contract aided dynamic multi-owner copyright scheme with hierarchical differential royalties for collaborative AI model trading. First, to meet the frequent updating requirements, we propose a Non-Fungible Token (NFT) driven dynamic AI model copyright protection structure, integrating InterPlanetary File System (IPFS) and NFT to realize low-cost AI model updating. Second, a batch AI model trading smart contract is designed to further reduce the trading cost in high-frequency trading scenarios. Third, we establish a hierarchical differential royalties collection and allocation mechanism for multi-owner AI models, where the AI model royalties are adaptively adjusted over time, utilization frequency, and the number of customers, and are allocated differentially based on training contributions. Last but not least, we conduct comprehensive evaluation and analysis of our scheme, demonstrating its efficiency, availability and flexibility.
In modern private international law (PIL), property and situs apparently go hand in hand in an established PIL monogamy to which there tends to be a collective commitment for all PIL aspects of a cross-border dispute for all PIL subcategories of property objects. This article argues that mechanistic deference to such apparent property-situs monogamy as an overarching rule in the PIL of property is not only misconceived; but is positively impeding progress in the modern PIL debates surrounding property rights in modern decentralised objects such as bitcoin. It therefore examines the discrete justifications for the situs rules to show that the apparent property-situs monogamy is actually the cumulative effect of a wide variety of situation-specific considerations in what is really a property-situs situationship. Hence, from an analysis of the situs rules, and the principles underpinning international jurisdiction and applicable law more generally, it suggests alternative property PIL solutions to the intractable problems posed by decentralised phenomena based on policy considerations rather than continued focus on the property object itself as the “natural seat” of a property relationship.
Innovation has profoundly transformed the finance industry, improving efficiency, transparency, and accessibility through technologies like electronic banking, blockchain, and Artificial Intelligence (AI). This research explores the future of finance, emphasizing the pivotal role of AI and other emerging technologies in redefining financial practices, creating new opportunities, and addressing challenges. The study synthesizes findings from academic journals, industry reports, and case studies, employing a mixed-methods approach that includes quantitative analysis of adoption rates and qualitative interviews with industry experts. Key advancements, such as the rise of algorithmic trading and the introduction of Decentralized Finance (DeFi) platforms, highlight the deep intertwining of finance and technology. The anticipated outcomes include identifying key innovations, the potential for AI to enhance efficiency and personalize services, and the strategies needed to address emerging challenges like regulatory hurdles and ethical concerns. The findings are designed to provide valuable insights for policymakers, industry leaders, and academics to facilitate informed decision-making and foster innovation while ensuring ethical and regulatory compliance
Grayscale Inc. v. SEC 판결에 따라 2024. 1. 10. 미국 SEC는 비트코인 현물 ETF를 승인하기에 이르렀다. 한편 우리 금융위원회는 2024. 1. 11. 및 1. 14. 비트코인 현물 ETF를 발행하거나 해외상장된 비트코인 현물 ETF를 중개하는 것은 가상자산에 대한 기존의 정부입장 및 자본시장법에 위배될 소지가 있다는 이유로 그 승인을 거부하였다. 이러한 거부처분은 가상화폐라는 새로운 매체를 이용한 여러 형태의 금융상품의 개발을 원천 봉쇄할 수 있다는 점에서 그 타당성을 검토하여 볼 필요가 있다.Grayscale Inc. v. SEC 사건의 법원은 비트코인 현물 ETF와 선물 ETF는 ① 모두 비트코인 시장가를 추종한다는 점과 CME와 동일한 감시공유계약을 체결하는 등 동일한 투자자 보호수단을 확보하였다는 점에서 구조상 동일하고, ② 시세조종을 위하여는 시장 내에서 실제로 거래를 하여야 한다는 점과 그러한 시장 내에서의 단일 거래만으로 시장가에 중대한 영향을 미칠 수 없다는 점에서 동일하여 시장 중요성 테스트 기준을 같은 수준으로 만족시키는바, 양자는 같게 취급하여야 할 “같은 것”으로 판단하였다.Grayscale 사건의 법리에 비추어 판단할 때에 비트코인 현물 ETF와 비트코인 선물 ETF, 특히 해외에서 발행된 비트코인 현물 ETF와 선물 ETF는 시장 중요성 테스트 기준을 동일한 수준에서 충족한다. 이를 고려하면 국내 또는 해외 등 발행지를 막론하고 비트코인 현물 ETF를 전면 불허한 반면 비트코인 선물 ETF의 거래를 허용한 2024. 1. 14. 금융위원회의 입장은 “동일한 것을 다르게” 취급한 것에 관한 오류가 존재하는 것으로 판단된다.또한 적어도 발행이 아닌 중개 및 유통은 허용하는 등 제한적으로나마 수용적으로 해석하는 과정에서 비트코인 및 가상화폐 중 특정한 조건을 충족시키는 일부에 관하여는 자본시장법상 기초자산으로 인정할 여지도 존재하였다는 점에서 비트코인 등 가상자산이 자본시장법상 기초자산에 포함되지 않아 이에 기하는 ETF를 승인함은 자본시장법에 반한다는 취지의 주장은 일률적·임의적·전면적이라는 비판을 피할 수 없을 것으로 보인다.
This paper presents an innovative application of blockchain technology utilizing smart contracts to offer crop recommendations tailored to the agricultural community.Leveraging Ethereum's solidity language, we developed a decentralized system enabling farmers to access real-time data on crop selections made by their peers.The system aggregates information on crop preferences and land allocations, facilitating informed decision-making for individual farmers.Our implementation ensures data integrity and transparency, crucial for fostering trust among users.Through empirical evaluation, we demonstrate the efficacy of our approach in providing accurate and timely crop recommendations, thereby enhancing agricultural productivity and sustainability.Our findings highlight the potential of blockchain technology to revolutionize traditional agricultural practices by fostering collaboration and data-driven decision-making.We conclude by discussing future avenues for research and adoption, emphasizing the scalability and accessibility of our proposed solution in addressing broader agricultural challenges.
This study aims to investigate the influence of blockchain and artificial intelligence on the audit quality of firms from Turkey. Primary data from 300 respondents are collected through random sampling to attain the study's objectives. PLS-SEM is used to investigate the relationship between exogenous and endogenous variables. Our findings show that blockchain technologies and artificial intelligence (AI) utilization in their financial system positively impact audit quality by assisting in the audit process and the detection of fraud, which also improves financial reporting. Blockchain and Artificial Intelligence in the financial system create confidence for investors, stakeholders, and legislators. Moreover, this study advocated significant implications for investors, government, firms, and policymakers. Investors can make investment decisions based on the accuracy of the financial accounts; the government and policymakers can improve the governance mechanism by using the study's findings.
M Govindaraj, Neethu Tressa, Muhammad Suraquatu, Likith Gowda M · 6 authors
Nowadays web 3.0 can be placed in several domain, such as supply chain management and crypto kitties, which are programs that run on decentralized network and rises vulnerabilities on the system. This paper provides a comprehensive analysis of smart contract vulnerability detection tools and the extent to which they address the spectrum of security threats inherent to Web 3.0. Our findings reveal that integrated tools exhibit superior performance in terms of vulnerability. The paper identifies critical challenges and propose future outlook that emphasizes the importance of collaborative research and the integration of machine learning approaches. We will then compare the existing tools based on their weaknesses coverage and efficiency of discovery. Finally, a case study of the CoGMIN project will be presented for determining and anticipating future research trends. Finally, this report provides recommendations for further research directions regarding the lack of cooperation between current smart contracts on security investigations.
Volodymyr Nakonechnyi, Serhiі Tolіupa, Volodymyr Saiko, В. И. Луценко · 6 authors
Background: The fast digital revolution and expansion of the Internet have influenced banking, leading to blockchain technology and cryptocurrencies. This technique may solve online banking security and transparency challenges. This paper examines the obstacles faced when incorporating blockchain technology into financial systems, explicitly emphasising crucial concerns, including scalability, interoperability, and adherence to shifting regulatory frameworks. These problems are crucial for comprehending the intricacies and viability of using blockchain technologies in the ever-changing environment of online banking operations. Objective: This article aims to examine the impact of blockchain implementation in the banking system, focusing on its ability to enhance the protection of online banking operations. It aims to elucidate the advantages and disadvantages of this platform in the banking industry, with a particular emphasis on its technical functionalities and consensus algorithms. Methods: Wo models and block architecture, the study analyses the technical functionalities of blockchain technology, drawing comparisons with traditional banking systems. The research also explores the application of security, verification, and decentralisation features to prevent fraudulent activities and ensure transaction integrity, mainly focusing on the banking landscape in India. Results: Initial findings indicate that blockchain technology holds promising prospects for improving banking efficiency, with its structures efficiently tracking transactions and preventing unauthorised alterations. The technology’s characteristics, such as security and decentralisation, make it a potential game-changer in the financial industry, with increasing acceptance and application by banks and financial institutions worldwide. Conclusion: Blockchain technology is poised to play a pivotal role in reshaping the future of the banking industry by addressing issues of security, transparency, and efficiency in online banking operations. Its increasing adoption by banks worldwide signifies a shift in traditional banking paradigms, highlighting the technology’s potential to revolutionise financial systems and create a more secure and transparent banking environment.
Syed Ali Asif, Emma Cao, Hang Chen, Chien-Chung Shen · 5 authors
The Metaverse, an immersive virtual world, has emerged as a shared space where people engage in various activities ranging from social interactions to commerce. Cryptocurrencies [3] and Non-Fungible Tokens (NFTs) [6] play pivotal roles within this virtual realm, reshaping interactions and transactions. Cryptocurrencies, utilizing cryptographic techniques for security, enable decentralized and secure transactions, and NFTs represent ownership or proof of authenticity of unique digital assets through the blockchain technology. While NFTs and cryptocurrencies offer innovative opportunities for ownership, trading, and monetization within the metaverse, their use also introduces potential risks and negative consequences, such as financial scams and fraud, highlighting the need for users to exercise caution and diligence in their virtual transactions.
Unlabelled: The convergence of artificial intelligence (AI), blockchain technology, and health care represents one of the most transformative yet technically challenging frontiers in computational medicine. As health care systems adopt data-driven paradigms for precision medicine and clinical decision support, the need for secure, privacy-preserving, and collaborative learning frameworks has become critical. This tutorial introduces a comprehensive, clinically oriented, and compliance-aware framework integrating federated learning (FL) and blockchain for secure and privacy-preserving health care analytics. FL enables collaborative training across distributed institutions without raw data sharing, in alignment with privacy regulations such as the Health Insurance Portability and Accountability Act (HIPAA) and the General Data Protection Regulation (GDPR). However, FL remains vulnerable to model poisoning and gradient leakage. To address these risks, we introduce blockchain-based FL (BCFL), which leverages blockchain's immutable ledger and decentralized consensus to enhance trust, verifiability, and auditability. The tutorial's main contributions include (1) a taxonomy of diverse medical data types and their FL requirements; (2) three integration architectures (fully coupled, semicoupled, and loosely coupled) analyzed for security, scalability, and regulatory compliance; (3) a security analysis of health care-specific vulnerabilities and mitigation strategies using advanced cryptography, such as zero-knowledge proofs, homomorphic encryption, and differential privacy; and (4) a regulatory compliance framework addressing HIPAA, GDPR, and United States Food and Drug Administration guidelines for AI-enabled medical devices. We demonstrate BCFL's relevance across major health care applications, including disease prediction, medical imaging, patient monitoring, and drug discovery, and highlight emerging research directions such as quantum-resilient cryptography, scalable interoperability, and automated compliance. This tutorial serves as a foundational resource for advancing secure, compliant, and collaborative AI in health care; fostering privacy-preserving analytics; and improving patient outcomes.
Purpose: This article clarifies the factors influencing individual investors' Bitcoin investments in the Vietnamese stock market. Design/methodology/approach: We employed the Theory of Planned Behavior (TPB) and Technology Acceptance Model (TAM), a comprehensive survey with 300 responses, and quantitative analysis using SmartPLS from December 2022 to March 2023. Findings: The findings reveal that the perceived usefulness of the Bitcoin market, subjective norms, self-efficacy, and herd behavior positively impact the Bitcoin investment decisions of individual investors in Vietnam. Research, Practical & Social Implications: This study provides regulators and relevant agencies with more practical evidence regarding the Bitcoin market, facilitating the formulation of appropriate management policies in an emerging economy. Originality/value: There is a shortage of research on the Bitcoin cryptocurrency investment market from the perspective of individual investors in emerging countries like Vietnam. Therefore, this study tries to shed light on individual investors with a comprehensive and objective overview to consider before making investment decisions. Additionally, the results can offer managers and relevant agencies empirical evidence to promulgate future regulations on the Bitcoin market.
Abstract This research focuses on investigating the impact of cryptocurrency accounting reports on company value (measured by financial performance) before and during the COVID 19 epidemic. Analyzing publicly listed companies’ data in firms’ 10-K filings, we find that there is no significant relation with the company’s profits while a company holds cryptocurrency positions. Although the issue of cryptocurrency accounting is an emerging topic, prior literature is mostly focused on cryptocurrency investment and is a rare investigation coping with the accounting treatment of crypto-assets. This paper seeks to contribute to the knowledge of fresh issues surrounding the accounting practices and standards tied to cryptocurrency for the company’s holding of crypto-assets. Taken together, the observed findings obtained from the test of the second hypothesis show that there is no significant relationship with the company’s stock returns while a company holds cryptocurrency positions. This result can be interpreted to determine whether the general investors take a more positive or negative attitude towards companies involved in cryptocurrency holding. Crucially, research findings unveil that cryptocurrency holdings have a significant impact on a company's liabilities. Our empirical evidence could be beneficial to public authorities and firms in decision- making situations related to cryptocurrency holdings of companies. JEL classification numbers: G10, G18, M14, M41. Keywords: Cryptocurrency accounting reports, Crypto-asset holdings, Firm value.
People are starting to see the cryptocurrency market as a viable source of income and investment, similar to the stock market, as the concept of cryptocurrencies continues to gain popularity. Predicting Bitcoin returns is related to financial machine learning, which uses time series to forecast price variance. This study starts with the daily close price of Bitcoin for its initial dataset. The price is transformed into percentages and binary classes, which categorize into “Up” and “Down”, after which a time series is applied to produce two datasets: a categorical dataset for classification and a numerical dataset for regression. For classification that represents a Binary classification in asset-price forecasting, k-fold cross-validation is applied to ensure that the best classifiers are selected for testing and analysis. Most of the regression analysis was based on visualization, which displayed the predicted prices by each regressor in front of the original values and helped analyse the models’ results more accurately. The outcomes of this study were achieved by anticipating bitcoin returns using classification and regression machine learning models, despite the approaches’ low accuracy and significant precision rate to the “Up” class. At this stage, with a significant limitation regarding the dataset and a lack of other indicators, a model capable of predicting future variations is considered a beneficial addition for many trading tools or even for crypto market analysts.
Ahmad AL-Hawamleh, Marwan Altarawneh, Heba Mousa Mousa Hikal, Alya Elfedawy
This research focuses on the metaverse's evolving trend and the potential application of blockchain technology in the accounting of virtual assets in this digital domain.The metaverse introduces a new economy in which users may earn real-world revenue through virtual activities, necessitating the need for efficient and dependable virtual asset accounting.Blockchain technology, with its decentralized and immutable record, appears to be a viable answer to these problems.This paper discusses the present status of blockchain technology for accounting for virtual assets in the metaverse as well as its potential role for businesses and the economy.It also determines the technology's issues and limits and makes recommendations for further development.The approach of this study is based on a comprehensive review of the existing literature on the interactions between blockchain technology, virtual asset accounting, and the metaverse.The findings indicate that blockchain technology has the potential to transform virtual asset accounting in the metaverse by improving security, transparency, and consistency.However, scalability and legal/regulatory issues must be overcome before it can completely achieve its promise.Accounting experts, developers, and stakeholders interested in the convergence of blockchain technology and the metaverse economy will find this paper useful.
Cryptocurrency trading has become a prominent financial domain, with a market capitalization exceeding one trillion USD. As the influence of social media on crypto markets grows, leveraging sentiment analysis (SA) becomes crucial for enhancing trading models. This work showcases the comparative study of advanced sentiment analysis tools, specifically Crypto-BERT, FinBERT, VADER, and SenticNet, and their effectiveness in confirming that Bitcoin is the best cryptocurrency. Also, the correlation between sentiment and prices using a pre-trained transformer DistilBERT is fine-tuned to understand how cryptocurrency prices fluctuate in the market. The study results in a correlation coefficient of 0.88.