Bitcoin is the most common cryptocurrency involved in cyber scams. Cybercriminals often utilize pseudonymity and privacy protection mechanism associated with Bitcoin transactions to make their scams virtually untraceable. The Ponzi scheme has attracted particularly significant attention among the Bitcoin fraudulent activities. This paper considers a multi-class classification problem to determine whether a transaction is involved in Ponzi schemes or other cyber scams, or is a non-scam transaction. We design a specifically designed crawler to collect data and propose a novel Attention-based Long Short-Term Memory (A-LSTM) method for the classification problem. The experimental results show that the proposed model has better efficiency and accuracy than existing approaches, including Random Forest, Extra Trees, Gradient Boosting, and classical LSTM. With correctly identified scam features, our proposed A-LSTM achieves an F1-score over 82% for the original data and outperforms the existing approaches.
Oguzhan Akcin, Robert P. Streit, Benjamin Oommen, Sriram Vishwanath · 5 authors
There are a multitude of Blockchain-based physical infrastructure systems, operating on a crypto-currency enabled token economy, where infrastructure suppliers are rewarded with tokens for enabling, validating, managing and/or securing the system. However, today's token economies are largely designed without infrastructure systems in mind, and often operate with a fixed token supply (e.g., Bitcoin). This paper argues that token economies for infrastructure networks should be structured differently - they should continually incentivize new suppliers to join the network to provide services and support to the ecosystem. As such, the associated token rewards should gracefully scale with the size of the decentralized system, but should be carefully balanced with consumer demand to manage inflation and be designed to ultimately reach an equilibrium. To achieve such an equilibrium, the decentralized token economy should be adaptable and controllable so that it maximizes the total utility of all users, such as achieving stable (overall non-inflationary) token economies. Our main contribution is to model infrastructure token economies as dynamical systems - the circulating token supply, price, and consumer demand change as a function of the payment to nodes and costs to consumers for infrastructure services. Crucially, this dynamical systems view enables us to leverage tools from mathematical control theory to optimize the overall decentralized network's performance. Moreover, our model extends easily to a Stackelberg game between the controller and the nodes, which we use for robust, strategic pricing. In short, we develop predictive, optimization-based controllers that outperform traditional algorithmic stablecoin heuristics by up to $2.4 \times$ in simulations based on real demand data from existing decentralized wireless networks.
Šarūnas Barauskas, Roberto Ripamonti, Emanuele Ragnoli
The crypto ecosystem has evolved into a formidable channel for raising venture capital. Each new wave of capital inflows has been epitomized by a new type of investment vehicle, may it be ICOs, DAOs, or NFTs. Regrettably, none of these paradigms tried to address the issue of investor protection, a pillar of efficient capital markets. Moreover, very few projects tried to generate economic revenue, focusing instead on marketing alone to attract new investors. Without revenues, price discovery was impossible, while investors were left without any protection against rug pulls. This has forced regulators to take a hard-line approach to the ecosystem, and rule that certain tokens are securities when they are not intended to be. Regulators have left the door open to cryptocurrencies with truly decentralised activity like Ethereum, most notably the SEC in its interpretation of the Howey test for digital assets. We believe that a great number of decentralised projects could benefit from this regulatory exception. A system where project revenue is automatically directed to a treasury pool, and the price of tokens is computed following a predetermined bonding curve, would allow to efficiently raise capital, while investors would have automatic guarantees of fair participation in the success of the project. Such a framework would incentivise founders to design decentralised projects that create value instead of hype, while making the application of securities laws less stringent or even needed. NFT royalties in particular are an example of decentralised economic activity that generates cash flows, used to back the value of associated tokens. We propose a cryptographic system that ties the price of tokens to the success of a decentralised activity, guarantees the fair distribution of tokens, and rewards founders and participants in the system in line with the amount of risk they are taking.
There is a growing interest in understanding the energy and environmental footprint of digital currencies, specifically in cryptocurrencies such as Bitcoin and Ethereum. These cryptocurrencies are operated by a geographically distributed network of computing nodes, making it hard to accurately estimate their energy consumption. Existing studies, both in academia and industry, attempt to model the cryptocurrencies energy consumption often based on a number of assumptions for instance about the hardware in use or geographic distribution of the computing nodes. A number of these studies has already been widely criticized for their design choices and subsequent over or under-estimation of the energy use. In this study, we evaluate the reliability of prior models and estimates by leveraging existing scientific literature from fields cognizant of blockchain such as social energy sciences and information systems. We first design a quality assessment framework based on existing research, we then conduct a systematic literature review examining scientific and non-academic literature demonstrating common issues and potential avenues of addressing these issues. Our goal with this article is to to advance the field by promoting scientific rigor in studies focusing on Blockchain's energy footprint. To that end, we provide a novel set of codes of conduct for the five most widely used research methodologies: quantitative energy modeling, literature reviews, data analysis \& statistics, case studies, and experiments. We envision that these codes of conduct would assist in standardizing the design and assessment of studies focusing on blockchain-based systems' energy and environmental footprint.
Cryptocurrencies, arguably the most prominent application of blockchains, have been on the rise with a wide mainstream acceptance. A central concept in cryptocurrencies is "mining pools", groups of cooperating cryptocurrency miners who agree to share block rewards in proportion to their contributed mining power. Despite many promised benefits of cryptocurrencies, they are equally utilized for malicious activities; e.g., ransomware payments, stealthy command, control, etc. Thus, understanding the interplay between cryptocurrencies, particularly the mining pools, and other essential infrastructure for profiling and modeling is important. In this paper, we study the interplay between mining pools and public clouds by analyzing their communication association through passive domain name system (pDNS) traces. We observe that 24 cloud providers have some association with mining pools as observed from the pDNS query traces, where popular public cloud providers, namely Amazon and Google, have almost 48% of such an association. Moreover, we found that the cloud provider presence and cloud provider-to-mining pool association both exhibit a heavy-tailed distribution, emphasizing an intrinsic preferential attachment model with both mining pools and cloud providers. We measure the security risk and exposure of the cloud providers, as that might aid in understanding the intent of the mining: among the top two cloud providers, we found almost 35% and 30% of their associated endpoints are positively detected to be associated with malicious activities, per the virustotal.com scan. Finally, we found that the mining pools presented in our dataset are predominantly used for mining Metaverse currencies, highlighting a shift in cryptocurrency use, and demonstrating the prevalence of mining using public clouds.
Keerthana Dasari, Sai Preetham Dongari, Adharsh Reddy Chirra, Sai Swetha Devireddy · 6 authors
The application of blockchain technology can be beneficial in the field of healthcare as well as in the fight against the COVID-19 epidemic. In this work, the importance of blockchain is analyzed and it is observed that blockchain technology and the processes associated with it will be utilised in the healthcare systems of the future for data acquisition from sensors, automatic patient monitoring, and secure data storage. This technology substantially simplifies the process of carrying out operations because it can store a substantial quantity of data in a dispersed and secure manner, as well as enable access whenever and wherever it is required to do so. With the assistance of quantum blockchain, the benefits of quantum computing, such as the capability to acquire thermal imaging based on quantum computing and the speed with which patients may be located and monitored, can all be exploited to their full potential. Quantum blockchain is another tool that can be utilised to maintain the confidentiality, authenticity, and accessibility of data records. The processing of medical records could potentially benefit from greater speed and privacy if it combines quantum computing and blockchain technology. The authors of this paper investigate the possible benefits and applications of blockchain and quantum technologies in the field of medicine, pharmacy and healthcare systems. In this context, this work explored and compared quantum technologies and blockchain-based technologies in conjunction with other cutting-edge information and communications technologies such as ratification intelligence, machine learning, drones, and so on.
The European Union is on course to introduce a European Digital Identity that will be available to all EU citizens and businesses. This will have a huge impact on how citizens and businesses interact online. Big Tech companies currently dictate how digital identities are used. As a result, they have amassed vast amounts of private user data. Movements like Self-Sovereign Identity aim to give users control over their online identity. TrustVault is the first data wallet that gives users back control of their identity and all their data. TrustVault allows users to store all their data on their smartphones and control with whom they share it. The user has fine-grained access control based on verifiable user attributes. EBSI connects TrustVault to the European Self-Sovereign Identity Framework allowing users to use Verifiable Credentials from public and private institutions in their access control policies. The system is serverless and has no Trusted Third Parties. TrustVault replaces the for-profit infrastructure of Big Tech with a public and transparent platform for innovation.
The web of today whether you prefer to call it web 2.0, web 3.0, web 5.0 or even the metaverse is at a critical stage of evolution and challenge, largely centered around its crisis of identity. Like teenagers who cannot assess properly their reason for being and do not seem ready to take responsibility for their actions, we are constantly blaming the very system we are trying to get away from. To truly realize the benefits from innovation and technology, this crisis has to be resolved, not just through tactical solutions but through developments that enhance the sustainability of the web and its benefits. Significant strides are being made in the evolution of digital services enabled by technology, regulation, and the sheer pace of societal change. The journey to the decentralized web is mirroring the convergence of the physical and digital worlds across all economies and is increasingly embracing the digital native world. Technology has provided the foundational platform for individuals and entities to create and manage wealth, potentially without the need for big institutions. Ironically, despite all of the advancements, we are still facing an unprecedented and increasing wealth gap. Clearly, the system is broken, not just around the edges but at the very core of the democratic underpinning of our society. In this whitepaper, we propose how artificial intelligence on blockchain can be used to generate a new class of identity through direct human computer interaction. We demonstrate how this, combined with new perspectives for sustaining community and governance embedded within the use of blockchain technology, will underpin a sustainable solution to protect identity, authorship and privacy at the same time while contributing to restore trust amongst members of a future decentralized nation and hence contribute to solving the web most significant identity crisis.
Non-Fungible Tokens (NFTs), digital certificates of ownership for virtual art, have until recently been traded on a highly lucrative and speculative market. Yet, an emergence of misconceptions, along with a sustained market downtime, are calling the value of NFTs into question. This project (1) describes three properties that any valuable NFT should possess (permanence, immutability and uniqueness), (2) creates a quantitative summary of permanence as an initial criteria, and (3) tests our measures on 6 months of NFTs on the Ethereum blockchain, finding 45% of ERC721 tokens in our corpus do not satisfy this initial criteria. Our work could help buyers and marketplaces identify and warn users against purchasing NFTs that may be overvalued.
Inna Sosunova, Jari Porras, Ekaterina Makarova, Andrei Rybin
This paper describes the International Disruptive Information Solutions hackathon and one the winning solutions. The purpose of the hackathon was to promote the use of disruptive ICT technologies (e.g. IoT, Big data, AI, blockchain) in urban infrastructures to create innovative waste management solutions in a smart city context. 29 students enrolled into this hackathon and in the end 4 teams submitted their solutions to the challenges. The winning proposal EcoQ, an approach for plogging collecting trashes while jogging, answered more than well to the presented challenge on waste management and engagement. The original idea was extended and partly refocused during an internship. As the outcome of the internship a mobile application for organizing and holding waste collection events was developed. This mobile application was shortly tested in a real environment and it provides a working citizen-centric platform, which enables anyone to arrange waste management events, and motivates other residents to participate in these activities.
Frequent occurrences of extreme weather events substantially impact the lives of the less privileged in our societies, particularly in agriculture-inclined economies. The unpredictability of extreme fires, floods, drought, cyclones, and others endangers sustainable production and life on land (SDG goal 15), which translates into food insecurity and poorer populations. Fortunately, modern technologies such as Artificial Intelligent (AI), the Internet of Things (IoT), blockchain, 3D printing, and virtual and augmented reality (VR and AR) are promising to reduce the risk and impact of extreme weather in our societies. However, research directions on how these technologies could help reduce the impact of extreme weather are unclear. This makes it challenging to emploring digital technologies within the spheres of extreme weather. In this paper, we employed the Delphi Best Worst method and Machine learning approaches to identify and assess the push factors of technology. The BWM evaluation revealed that predictive nature was AI's most important criterion and role, while the mass-market potential was the less important criterion. Based on this outcome, we tested the predictive ability of machine elarning on a publilcly available dataset to affrm the predictive rols of AI. We presented the managerial and methodological implications of the study, which are crucial for research and practice. The methodology utilized in this study could aid decision-makers in devising strategies and interventions to safeguard sustainable production. This will also facilitate allocating scarce resources and investment in improving AI techniques to reduce the adverse impacts of extreme events. Correspondingly, we put forward the limitations of this, which necessitate future research.
Abdul Khalique Shaikh A. K. Al-Alawi, L. R., Al-Busaidi, R. · 5 authors
The cybersecurity of modern systems has dramatically increased attention from both industrial and academia perspectives. In the recent era, the popularity of the blockchain-based system has traditionally been emergent among various industrials sectors especially in supply chain management due to its streamlined nature. This reveals the importance of the quality aspects from a supply chain management perspective. Many industries realized the importance of having quality systems for supply chain management and logistics. The emergence of blockchain technology has created several potential innovations in handling and tracking business activities over the supply chain processes as specific. This paper shed the light on the blockchain and specifically on a smart contract technology which been used to handle the process of creation, verification and checking data over the supply chain management process. Then, touch upon the area of blockchain cybersecurity in the supply chain context. More and more, since the smart contract handles the transfer of data over different locations, then the security protection should be strong enough to secure the data and the assets from any attacks. Finally, the paper examines the main security attacks that affect the data on the blockchain and propose a solution
Sep 11, 2022·15th International Baltic Conference on Digital Business and Intelligent Systems (DB&IS), July 03-06, 2022, University of Latvia, Riga, Latvia
Web 3.0 is considered as future of Internet where decentralization, user personalization and privacy protection would be the main aspects of Internet. Aim of this research work is to elucidate the adoption behavior of Web 3.0through a multi-analytical approach based on Partial Least Squares Structural Equation Modelling (PLS-SEM) and Twitter sentiment analysis. A theoretical framework centered on Performance Expectancy (PE), Electronic Word-of-Mouth (eWOM) and Digital Dexterity (DD), was hypothesized towards Behavioral Intention (INT) of the Web 3.0 adoption. Surveyed data were collected through online questionnaires and 167 responses were analyzed through PLS-SEM. While 3,989 tweets of Web3 were analyzed by VADER sentiment analysis tool in RapidMiner. PLS-SEM results showed that DD and eWOM had significant impact while PE had no effect on INT. Moreover, these results were also validated by PLS-Predict method. While sentiment analysis explored that 56% tweets on Web 3.0 were positive in sense and 7% depicted negative sentiment while remaining were neutral. Such inferences are novel in nature and an innovative addition to web informatics and could support the stakeholders towards web technology integration
Marin Jovanovic, Nikola Kostić, Ina M. Sebastian, Tomaz Sedej
The proliferation of blockchain-based platform ecosystems in recent years has prompted scholars across various disciplines to explore the conditions leading to their successful deployment. However, developing a blockchain-based platform ecosystem creates various challenges for the platform sponsor that may influence industry-wide adoption and, ultimately, the platform's success. This study follows the development of TradeLens, a leading global shipping platform ecosystem underpinned by blockchain technology. We examine the factors affecting industry-wide adoption among global supply chain actors by unpacking platform value drivers and platform governance mechanisms identified at TradeLens. While the platform value hinges on the digitalization of workflows and the ecosystem leverage, the platform governance includes strategic (off-chain), technology (on-chain), and interoperability (on- and off-chain) governance – as mechanisms for effectively managing a blockchain-based platform ecosystem. This paper contributes to the literature on blockchain-based platform ecosystems and the platform literature.
Dan Sheridan, James S. Harris, Frank Wear, Jerry Cowell · 6 authors
The inability of a computer to think has been a limiter in its usefulness and a point of reassurance for humanity since the first computers were created. The semantic web is the first step toward removing that barrier, enabling computers to operate based on conceptual understanding, and AI and ML are the second. Both semantic knowledge and the ability to learn are fundamental to web3, as are blockchain, decentralization, transactional transparency, and ownership. Web3 is the next generational step in the information age, where the web evolves into a more digestible medium for users and machines to browse knowledge. The slow introduction of Web3 across the global software ecosystem will impact the people who enable the current iteration. This evolution of the internet space will expand the way knowledge is shared, consumed, and owned, which will lessen the requirement for a global standard and allow data to interact efficiently, no matter the construction of the knowledge. The heart of this paper understands the: 1) Enablement of Web3 across the digital ecosystem. 2) What a Web3 developer will look like. 3) How this alteration will evolve the market around software and knowledge in general.
Blockchain games introduce unique gameplay and incentive mechanisms by allowing players to be rewarded with in-game assets or tokens through financial activities. However, most blockchain games are not comparable to traditional games in terms of lifespan and player engagement. In this paper, we try to see the big picture in a small way to explore and determine the impact of gameplay and financial factors on player behavior in blockchain games. Taking Aavegotchi as an example, we collect one year of operation data to build player profiles. We perform an in-depth analysis of player behavior from the macroscopic data and apply an unsupervised clustering method to distinguish the attraction of the gameplay and incentives. Our results reveal that the whole game is held up by a small number of players with high-frequent interaction or vast amounts of funds invested. Financial incentives are indispensable for blockchain games for they provide attraction and optional ways for players to engage with the game. However, financial services are tightly linked to the free market. The game will face an irreversible loss of players when the market experiences depression. For blockchain games, well-designed gameplay should be the fundamental basis for the long-lasting retention of players.
Mario Scrocca, Marco Comerio, Alessio Carenini, Irene Celino
The blockchain technology provides integrity and reliability of the information, thus offering a suitable solution to guarantee trustability in a multi-stakeholder scenario that involves actors defining business agreements. The Ride2Rail project investigated the use of the blockchain to record as smart contracts the agreements between different stakeholders defined in a multimodal transportation domain. Modelling an ontology to represent the smart contracts enables the possibility of having a machine-readable and interoperable representation of the agreements. On one hand, the underlying blockchain ensures trust in the execution of the contracts, on the other hand, their ontological representation facilitates the retrieval of information within the ecosystem. The paper describes the development of the Ride2Rail Ontology for Agreements to showcase how the concept of an ontological smart contract, defined in the OASIS ontology, can be applied to a specific domain. The usage of the designed ontology is discussed by describing the modelling as ontological smart contracts of business agreements defined in a ride-sharing scenario.
Eduard Hartwich, Philipp Ollig, Gilbert Fridgen, Alexander Rieger
Purpose This paper aims to establish a fundamental and comprehensive understanding of non-fungible tokens (NFTs) by identifying and structuring common characteristics within a taxonomy. NFTs are hyped and increasingly marketed as essential building blocks of the Metaverse. However, the dynamic evolution of the NFT space has posed challenges for those seeking to develop a deep and comprehensive understanding of NFTs, their features and their capabilities. Design/methodology/approach Utilizing common guidelines for the creation of taxonomies, the authors developed (over 3 iterations), a multi-layer taxonomy based on workshops and interviews with 11 academic and 15 industry experts. Through an evaluation of 25 NFTs, the authors demonstrate the usefulness of the taxonomy. Findings The taxonomy has 4 layers, 14 dimensions and 42 characteristics, which describe NFTs in terms of reference object, token properties, token distribution and realizable value. Originality/value The authors' framework is the first to systematically cover the emerging NFT phenomenon. This framework is concise yet extendible and presents many avenues for future research in a plethora of disciplines. The characteristics identified in the authors' taxonomy are useful for NFT- and Metaverse-related research in finance, marketing, law and information systems. Additionally, the taxonomy can serve as an information source for policymakers as they consider NFT regulation.
With technological advances and the establishment of e-commerce models, business challenges have shifted to online platforms. The promise of embedding self-executing and autonomous programs into blockchain technologies has attracted increased interest and its use in niche solutions. Using qualitative interviews, this paper sought the opinions of the eleven industry leaders regarding smart contracts. Findings reveal that the technology is gaining momentum in e-commerce, particularly in financial transfer, record-keeping, real estate, and property management, insurance, mortgage, supply chain management, data storage, authorization of credit, denaturalized intelligence, aviation sector, shipping of products, invoice financing and other domains. The significant benefits of widespread adoption and deployment of smart contracts include their capability to deliver decentralization, efficacy, cost-effectiveness, transparency, speed, autonomy, transparency, privacy, and security, encouraging the emergence of novel business models. Albeit these benefits that revolutionize online transactions, the technology faced multifaceted challenges. Smart technologies are only a decade old and are not advanced in security, transparency, cost-effectiveness, and regulatory framework. Furthermore, organizational, and technical challenges limit their deployment: incompatibility with legacy systems, scalability, bugs, speed, and lack of talent and understanding regarding smart contracts. Consequently, policymakers, developers, researchers, practitioners, and other stakeholders need to invest effort and time to foster the technologies and address pertinent issues to enable the global adoption of smart contracts by small and big businesses.
Moritz Platt, Stephen Ojeka, Andreea-Elena Drăgnoiu, Oserere Ejemen Ibelegbu · 7 authors
Abstract Decentralized cryptocurrency networks, notably those with high energy demand, have faced significant criticism and subsequent regulatory scrutiny. Despite these concerns, policy interventions targeting cryptocurrency operations in the pursuit of sustainability have largely been ineffective. Some were abandoned for fear of jeopardizing innovation, whereas others failed due to the highly globalized nature of blockchain systems. In search of a more effective angle for energy policy measures, this study adopts a consumer-centric perspective, examining the sentiments of Nigerian cryptocurrency users ($n=158$) toward Bitcoin’s sustainability, a representative cryptocurrency known for its high electricity demand. Three main findings emerged: 1) Even among those self-identifying as highly knowledgeable, most considerably underestimated Bitcoin’s electricity consumption. 2) Participants with a more accurate understanding of Bitcoin’s energy demand were more inclined to support sustainability measures. 3) Most of this supportive cohort viewed private entities as the primary stakeholders for implementing such measures. Given these findings, we suggest that consumer education should be at the forefront of policy initiatives aimed at cryptocurrency sustainability.
Gabriele Di Bona, Alberto Bracci, Nicola Perra, Vito Latora · 5 authors
Decentralization is a pervasive concept found across disciplines, including Economics, Political Science, and Computer Science, where it is used in distinct yet interrelated ways. Here, we develop and publicly release a general pipeline to investigate the scholarly history of the term, analysing 425,144 academic publications that refer to (de)centralization. We find that the fraction of papers on the topic has been exponentially increasing since the 1950s. In 2021, 1 author in 154 mentioned (de)centralization in the title or abstract of an article. Using both semantic information and citation patterns, we cluster papers in fields and characterize the knowledge flows between them. Our analysis reveals that the topic has independently emerged in the different fields, with small cross-disciplinary contamination. Moreover, we show how Blockchain has become the most influential field about 10 years ago, while Governance dominated before the 1990s. In summary, our findings provide a quantitative assessment of the evolution of a key yet elusive concept, which has undergone cycles of rise and fall within different fields. Our pipeline offers a powerful tool to analyze the evolution of any scholarly term in the academic literature, providing insights into the interplay between collective and independent discoveries in science.
Hypoglycemia is an unpleasant phenomenon caused by low blood glucose. The disease can lead a person to death or a high level of body damage. To avoid significant damage, patients need sugar. The research aims at implementing an automatic system to detect hypoglycemia and perform automatic sugar injections to save a life. Receiving the benefits of the internet of things (IoT), the sensor data was transferred using the hypertext transfer protocol (HTTP) protocol. To ensure the safety of health-related data, blockchain technology was utilized. The glucose sensor and smartwatch data were processed via Fog and sent to the cloud. A Random Forest algorithm was proposed and utilized to decide hypoglycemic events. When the hypoglycemic event was detected, the system sent a notification to the mobile application and auto-injection device to push the condensed sugar into the victims body. XGBoost, k-nearest neighbors (KNN), support vector machine (SVM), and decision tree were implemented to compare the proposed models performance. The random forest performed 0.942 testing accuracy, better than other models in detecting hypoglycemic events. The systems performance was measured in several conditions, and satisfactory results were achieved. The system can benefit hypoglycemia patients to survive this disease.
While vaccinations continue to be rolled out to curb the ongoing COVID-19 pandemic, their verification is becoming a requirement for the re-incorporation of individuals into many social activities or travel. Blockchain technology has been widely proposed to manage vaccination records and their verification in many politically-bound regions. However, the high contagiousness of COVID-19 calls for a global vaccination campaign. Therefore, a blockchain for vaccination management must scale up to support such a campaign and be adaptable to the requirements of different countries. While there have been many proposals of blockchain frameworks that balance the access and immutability of vaccination records, their scalability, a critical feature, has not yet been addressed. In this paper, we propose a scalable and cooperative Global Immunization Information Blockchain-based System (GEOS) that leverages the global interoperability of immunization information systems. We model GEOS and describe its requirements, features, and operation. We analyze the communications and the delays incurred by the national and international consensus processes and blockchain interoperability in GEOS. Such communications are pivotal in enabling global-scale interoperability and access to electronic vaccination records for verification. We show that GEOS ably keeps up with the global vaccination rates of COVID-19 as an example of its scalability.
Spurred by the emerging blockchain technology and increased interest in tokenization, this forecasting research built on extensive literature and aggregated expertise to explore the potential implementation of blockchain-enabled tokenization in infrastructure investment and development. The Delphi-based scenario analysis approach was applied to gather long-term forecasts and assessments of a research panel consisting of 39 experts in blockchain tokenization and infrastructure development on how tokenization will influence the future of infrastructure finance and identify scenarios of potential applications and impact. International experts were segregated into two groups salient to this topical area based on both experience ad self-identification: infrastructure development and blockchain tokenization. Twenty-three projections for 2035, developed from a literature review, case study analysis, and expert interviews, concerning perspectives of both the supply and demand side for the adoption of blockchain tokenization, were assessed in a two-round Delphi analysis. Regulatory, economic, social, and technological perspectives of tokenization were taken into consideration. Assessments were based on both probability and impact of occurrence. Three groups of scenarios resulted from quantitative and qualitative analysis, reflecting agreement and differentiation between both expert groups. The results of this study clearly underlined the potential of tokenization in infrastructure. Uncertainties and barriers confronting the technologies' diffusion were discussed. This study contributes to the transfer of general technical-driven blockchain-enabled tokenization knowledge to infrastructure-specific tokenization knowledge. Long-term strategic planning is supported by this study with the scenario data acting as a starting point for blockchain-related efforts in infrastructure development.