Blockchain Papers

Swaminathan Balasubramaniam

No abstract is available for this record.

Adaobi Ndukaji

Web3 startups introduce a novel paradigm of organizational design in which token-based incentive mechanisms replace or complement traditional equity-based governance structures. This paper examines how tokenomics can align or misalign the incentives of founders, investors, and users in decentralized entrepreneurial ventures. Drawing on agency theory, mechanism design, and behavioral economics, we develop a conceptual framework that explains how token distribution, vesting schedules, governance rights, and utility structures influence startup performance and sustainability. Using illustrative case analyses and synthetic data modeling, the study identifies key failure modes such as speculative overhang, governance centralization, and misaligned temporal incentives. The findings contribute to entrepreneurship literature by proposing a new theory of “programmable incentives” and offer actionable guidance for founders designing token economies. Keywords: Web3, Tokenomics, Incentive Design, Entrepreneurship, DAOs, Blockchain Governance, ICOs

Alessia Pedrazzoli, Paola Bongini, Monica Rossolini, Silvio Vismara

Abstract The rise of Decentralized Finance (DeFi) has introduced new fundraising mechanisms for startups. This study examines the interplay between Initial Coin Offerings (ICOs) and traditional entrepreneurial finance investors. Our findings document that while ICO funding amounts do not predict future funding success, prior business angel investment significantly increases the likelihood of securing follow-on funding. Co-investment by crypto funds during the ICO enhances follow-on funding opportunities, particularly for firms backed by hedge-style crypto investors. This research contributes to the entrepreneurial finance literature by examining how blockchain-based financing mechanisms integrate into the broader venture funding ecosystem.

Saiful Ruchiyat Cosahan, Ahmad Yunani, Asrid Juniar, Muzdalifah Muzdalifah

This Systematic Literature Review (SLR) analyzes 38 empirical studies published between 2015 and 2025 (sourced from Scopus and Sci-‎ScienceDirect) to map blockchain-based funding mechanisms in the context of venture capital (VC) and entrepreneurial finance. The review ‎addresses four research questions concerning the evolution of these mechanisms, their impact on startup performance, and associated risks ‎and regulatory challenges. The findings establish a robust taxonomy of mechanisms, including Initial Coin Offerings (ICOs), Security Token Offerings (STOs), and Decentralized Autonomous Organizations (DAOs), each presenting unique features and regulatory profiles. ‎Crucially, the review highlights significant gaps in long-term performance data, revealing challenges related to investor protection, fraud risk, ‎and regulatory uncertainty. By integrating Signaling Theory and Governance Theory, the study discusses how tokenomics and team credibility function as signals instead of traditional VC due diligence, presenting a critical comparison between token-based funding and traditional-‎al venture capital financing. This paper offers valuable insights for academics, policymakers, and industry practitioners by providing a com-‎comprehensive map of the field, suggesting avenues for future empirical research, and offering focused policy implications regarding regulation ‎and investor safety in emerging markets‎.

Radhika Singh Niranjan, Shyam Sunder Agrawal, Divya Mahajan, Nidhi Sharma · 5 authors

This study examines Initial Coin Offerings (ICOs) and Decentralized Finance (DeFi) as emerging tools in entrepreneurial finance, leveraging blockchain technology and smart contracts to enhance transparency and accessibility for investors, and also examines stablecoin trends that reveal investor preferences and risk dynamics in the crypto market. The research analyzes global ICO market trends, highlighting leading countries in ICO quantity, success rates, and funds raised, with a special focus on Singapore, the USA, Estonia, and India. The study identifies regulatory frameworks, technological readiness, and investor education as critical factors influencing ICO success. In the Indian context, while ICO adoption is growing, regulatory ambiguity and limited awareness present challenges. The research also explores DeFi's transformative role in disrupting traditional funding mechanisms by enabling decentralized, transparent financing without intermediaries. The study underscores the need for comprehensive legal frameworks and technological advancements to foster ICO growth and investor protection. Future directions emphasize integrating cross-disciplinary approaches to address scalability, regulation, and behavioral aspects, ensuring ICOs and DeFi sustainably support entrepreneurial ventures globally.

Ulf Axelson, Igor Makarov

Entrepreneurs typically seek financing in decentralized markets, where they approach investors sequentially. We develop a model of sequential capital markets with privately informed investors. The sequential market creates a dynamic adverse selection externality that leads to overinvestment and excessive rents to intermediaries, even as the number of competing investors becomes arbitrary large. The resulting rents lead to excessive entry of investors and insufficient entry of entrepreneurs. Moving to a centralized market structure or reducing transparency restores competitiveness but may harm efficiency. The model also explains how even a small skill advantage for an investor can lead to preferential deal flow and outsized returns.

Markus Jungnickel, Ferda Özdemir Sönmez, Catherine Mulligan, William J. Knottenbelt

Decentralized autonomous organizations (DAOs) have emerged as a novel organizational structure, attracting growing interest due to their decentralized, transparent governance, which replaces traditional hierarchies with stakeholder-managed rules codified as smart contracts. Although various governance models exist, comparative research across dimensions remains limited, leaving the literature fragmented and offering little practical guidance for selecting suitable models. This article critically analyses existing governance mechanisms and their implementation to support the development of more effective DAO models. To address current gaps, we review prior quantitative studies and conduct exploratory data analysis on centralization, participation, and decision controversy. The findings show that reputation and share-based models can mitigate the centralization seen in token-based systems, though all models suffer from low member engagement, suggesting an over reliance on direct democracy. Our analysis can be replicated across platforms and time frames to refine and validate these insights.

Krithika Rao, Shakil Khan, Bruce Singh, Nagulapati Kiran · 5 authors

Regulatory sandboxes—controlled environments where firms test innovations under regulatory supervision—have been adopted globally to manage fintech and crypto experimentation. This paper compares sandbox approaches and policy effectiveness for decentralized finance (DeFi) across the European Union, the United States, and the Asia-Pacific. Using a mixed-methods design (document analysis, stakeholder reports, and an illustrative quantitative model), we assess objectives, design choices, risk controls, and outcomes (market access, investor protection, and innovation diffusion). Findings show the EU’s pan-European coordination aims to harmonize testing and legal clarity; the US displays fragmented, agency-led pilot initiatives with stronger enforcement posture; Asia-Pacific exhibits rapid, varied adoption with jurisdictional leaders (Singapore, Hong Kong, Australia) using sandboxes as precursors to more formal rulebooks. Policy effectiveness depends on clarity of legal scope, cross-agency coordination, and well-designed exit and scaling rules. We conclude with policy recommendations and a research agenda for empirically measuring sandbox effectiveness for DeFi.

Jinghan Sun, H. L. Wang, Yusuf Shakhpaz, Junyu Zhang · 6 authors

Amid the rapid expansion of the Non-Fungible Token (NFT) market, X (formerly Twitter) has emerged as a crucial channel for communication between project creators and their communities. This study investigates the short-term effects of NFT project tweets on trading behaviors and price dynamics. Guided by Media Richness Theory (MRT), we con-ducted a quantitative analysis of tweets from nine leading NFT projects, categorizing them into three distinct clusters. Our findings reveal heterogeneous correlations between tweet content, NFT categories, and price fluctuations. The differing roles and functions of NFTs across categories shape both the distribution of tweets and their short-term pricing impacts. Furthermore, we employed three machine learning models using media richness as a predictive feature, achieving approximately 60 % accuracy in forecasting NFT price movements. Overall, this research highlights the predictive potential of social media for NFT price trends and its contribution to the NFT ecosystems sustainability.

Alexandru Ursu, Petru Lucian Curșeu, Sabina Trif, Alina Maria Fleştea

Cryptocurrencies are rapidly transforming digital finance and entrepreneurship, yet their adoption by entrepreneurs remains rather poorly understood. Drawing on the Threat-Rigidity Model (TRM) and the opportunity recognition literature, this study examines how entrepreneurial experience, financial literacy, perceived opportunities, and perceived threats influence entrepreneurial intention to use cryptocurrencies. We tested a moderated mediation model in which the association between financial literacy and experience, on the one hand, and intention to use cryptocurrencies, on the other, was mediated by perceived opportunities. In this model, perceived threats served as a moderator on the relationship between financial literacy and intention, as well as between perceived opportunities and adoption intention. Data were collected from a sample of 133 Romanian entrepreneurs across diverse industries. The results supported the mediating role of perceived opportunities in the relationship between financial literacy and intention to use cryptocurrencies in business and showed that the positive association between financial literacy and intention was attenuated by perceived threats. Entrepreneurial experience did not significantly influence perceived opportunities, while women entrepreneurs reported lower intention to adopt cryptocurrencies in business. This study is among the first to use the TRM to explore how the interplay of perceived opportunities and threats shapes cryptocurrency adoption in entrepreneurship. Other implications, limitations, and directions for future research are also discussed.

Mateo Spaho, Iris Beleraj

This paper investigates the dual impact of Decentralized Finance (DeFi) and smart contracts on European Union (EU) market stability, with a focus on the role of regulation. The research problem centers on understanding how the rapid growth of DeFi interacts with emerging regulatory frameworks to shape financial stability. The purpose is to provide an integrated analysis that combines quantitative data with qualitative legal insights to inform policy. The methodology employs a fixed-effects panel data model to analyze the effect of DeFi market capitalization, smart contract deployments, and transaction volumes on a market stability index across EU member states, while also incorporating a qualitative review of the EU’s regulatory landscape, including the Markets in Crypto-Assets (MiCA) Regulation [1]. Key findings indicate that while DeFi’s growth correlates with increased market volatility, regulatory interventions like MiCA appear to have a stabilizing effect. The paper concludes that a clear and harmonized regulatory framework is crucial for mitigating the risks associated with DeFi while fostering responsible innovation. The relevance of this study lies in its timely contribution to the ongoing policy debate on DeFi regulation and its implications for financial stability in the EU [2].

Allan M. Lavell

Purpose This synthesis paper consolidates expert analyses on the persistent challenges and emerging opportunities in disaster risk reduction (DRR) financing and governance, with a focus on Latin America and the Caribbean (LAC). It critiques current paradigms and proposes pathways to align DRR with sustainable development goals. Design/methodology/approach Drawing on contributions from nine DRR specialists, the study evaluates four thematic areas: (1) conceptual and governance barriers, (2) data gaps and analytical limitations, (3) financing mechanisms and (4) DRR-climate adaptation synergies. Findings Key challenges include sectoral silos that isolate DRR from development planning, perpetuating reactive over proactive risk management; data disparities, with hazard-focused metrics overshadowing vulnerability analysis and local-scale risk drivers; financing imbalances, where dedicated DRR funds and risk-transfer instruments (e.g. insurance) often neglect root-cause vulnerability reduction and missed synergies between DRR and climate adaptation, exacerbated by institutional fragmentation and “additionality” constraints in climate finance. Notable progress includes increased Ministry of Finance engagement and decentralized resilience models (e.g. social protection schemes). Originality/value This paper uniquely synthesizes multidisciplinary critiques to advocate for integrated governance that embeds DRR in sectoral development agendas; holistic financing combining corrective, prospective and compensatory measures and systemic risk analytics bridging climate adaptation and DRR.

Allan Lavell, Margaret Arnold, Stephen Bender, Charlotte Benson · 10 authors

Purpose This article aims to synthesize expert analyses on progress, challenges and innovations in disaster risk reduction (DRR) financing and investment since the Hyogo Framework (HF) (2005–2015). It highlights systemic barriers, emerging strategies and lessons for policymakers. Design/methodology/approach Contributions from nine DRR experts are analysed, focusing on historical trends, case studies (e.g. Kenya’s FLLoCA Program) and empirical data from regional initiatives like the InterAmerican Development Bank- IDB- Disaster Risk Management Index. Findings Key issues include persistent underfunding of corrective DRR, over-reliance on risk transfer mechanisms and siloed governance. Successful examples include decentralized climate finance models and parametric insurance innovations. The study underscores the need for intersectoral collaboration and political commitment to equity. Originality/value This work provides a multidisciplinary critique of DRR financing, integrating perspectives from economics, governance and climate adaptation. It offers actionable recommendations to align DRR with sustainable development agendas in Latin America and the Caribbean- LAC.

Vabuk Pahari, Andrea Canidio

We analyze 15,097 blocks proposed for inclusion in Ethereum's blockchain over an eight-minute window on December 3, 2024, during which 38 blocks were added to the chain. We classify transactions as exclusive -- appearing only in blocks from a single builder -- or private -- absent from the public mempool but included in blocks from multiple builders. We find that, depending on the methodology, exclusive transactions account for between 77.2% and 84% of the total fees paid by transactions in winning blocks. Moreover, we show that exclusivity cannot be fully attributed to persistent relationships between senders and builders: only between 7% and 8.4% of all on-chain exclusive transaction value originates from senders who route exclusively to one builder. Finally, we observe that transaction exclusivity is dynamic. Some transactions are exclusive at the start of a bidding cycle but later appear in blocks from multiple builders. Other transactions remain exclusive to a losing builder for two or three cycles before appearing in the public mempool. These transactions are therefore delayed and then exposed to potential attacks.

Olivier Jutel

Abstract This article focuses on the Network State movement as embodying the venture capital (VC) logic of exit. Exit constitutes both a strategy for lucrative returns and an ideology seeking out new territories for financial and technological speculation. This movement has emerged around Balaji Srinivasan and the technologies of Web3 that encode the imperatives of exit. In the construction of liberated zones for the Network State, VC operates through a territorial logic, under the leadership of the founder‐philosopher and with the affordances of the American state. These logics evince the discursive power at the heart of the political economy of VC. The desires of the VC class shape “future social necessity” (Howard 2024; Finance and Society 10) and are “imprinted” (Cooiman 2024; Environment and Planning A 56) upon the social and technological networks of the Network State. The valorisation through exit seeks to produce “hyperstitious” (Lynch and Muñoz‐Viso 2023; Progress in Human Geography 48) value creation in which VC is the fount of civilisation.

Harsh Kumar, Aijaz Ahmad Chopan, Makinder Kour, Zubair Fayaz

This paper explores the integration of Decentralized Finance (DeFi) into the Metaverse and its transformative impact on virtual economies. By examining platforms like Decentraland and Sandbox, the study highlights how DeFi protocols—such as lending, staking, and token swapping—enhance financial accessibility, user engagement, and asset liquidity. The paper also identifies key challenges including scalability, security vulnerabilities, regulatory uncertainty, and user adoption barriers. Opportunities such as decentralized ownership, financial inclusion, and cross-platform interoperability are discussed. Through a synthesis of academic and industry literature, this research underscores the potential of DeFi to reshape digital finance and virtual interactions. The study concludes by calling for further exploration of governance, behavioral trends, and regulatory frameworks to ensure a secure, inclusive, and sustainable decentralized Metaverse.

LOULID Adil -, GADMI Mariam -, LOTFI Siham, BEN DARKAWI Zakaria -

This paper explores the evolving landscape of SME financing in a context marked by the progressive tightening of traditional bank credit and the emergence of innovative funding alternatives. Small and medium-sized enterprises (SMEs), widely recognized as key drivers of innovation and employment, face increasing difficulties in accessing conventional financial resources due to heightened risk aversion among banks, stricter regulatory requirements, and macroeconomic instability. In response, SMEs are progressively turning to alternative financing solutions, such as crowdfunding, venture capital, peer-to-peer lending, and blockchain-based mechanisms, including smart contracts. The study highlights the dual dynamics shaping the current financing environment: while traditional sources like bank credit and government grants remain essential, they are no longer sufficient on their own. New technologies and decentralized platforms are redefining the financial ecosystem, offering greater flexibility, transparency, and inclusion. However, these alternatives also come with challenges, such as regulatory uncertainty, market saturation, and the need for strategic adaptation. Through a comparative and analytical approach, the paper underscores the importance of fostering a diversified, resilient, and innovation-oriented financial framework. It calls for coordinated efforts between public policy, financial institutions, and technological actors to support the sustainable development and competitiveness of SMEs in an increasingly complex economic environment.

Hoon-Young Koo, Heejung Lee, Geun-Cheol Lee

This study empirically analyzes the determinants of NFT (Non-Fungible Token) value in the collectible NFT market, focusing on investor types. Using structural equation modeling (SEM) and multi-group analysis, we examine the effects of rarity, number of attributes, and trading volume on NFT value, comparing differences between large-scale (whale) and small-scale (ant) investors. Analyzing over 88 thousand transaction data points for 10,000 NFTs from the Bored Ape Yacht Club (BAYC) collection, results show that NFT rarity positively influences value but negatively affects trading volume. Both the number of attributes and trading volume negatively impact on NFT value. Multi-group analysis reveals statistically significant differences in NFT value assessment between whale and ant investors. Whale investors showed a stronger preference for NFTs with higher rarity, particularly valuing the rarity of 'eyes', 'mouth', and 'earring' attributes. Conversely, ant investors showed more interest in NFTs with higher trading frequency and a greater number of attributes. This research contributes to improving the accuracy of NFT value assessment by modeling rarity as a latent variable and clarifying the impact of market dynamics and investor behavior on the structure of the NFT market. These findings provide practical implications for NFT creators, investors, and marketplace operators, and are expected to contribute to strategy formulation for the sustainable development of the NFT market in the future.

Ashok Sharma, Dr. Ajay Kumar, T. Sathiya Priya

In a time of growing environmental issues and climate change, the drive toward sustainability is more important than ever. Startups and small businesses are expected to be more instrumental in forming a sustainable future as world economies move toward greener paradigms. For many of these businesses, though, the financial load related to sustainable infrastructure, eco-innovation, and clean technology still be a major obstacle. For sustainable businesses trying to bring environmentally friendly ideas to market without sacrificing financial viability, green financing options including grants, subsidies, and green loans provide essential lifelines. Emphasizing the need of access to specific funding resources that support environmentally friendly practices, this abstract investigates the several green financing options open to startups. Examining both public and private sector projects emphasizes how green finance closes the innovation gap with implementation, especially for early-stage businesses trying to scale their green solutions. Grants and subsidies represent among the most well-known sources of green money. Usually governments, international organizations, and environmental NGOs supply these financial support to inspire creativity in fields including waste management, green manufacturing, sustainable agriculture, and renewable energy. Grants are a great choice for startups with limited cash flow since they unlike loans do not demand repayment. Many environmental grantinitiatives to support clean tech development have been started in areas including the European Union, North America, and portions of Asia. As part of the EU's larger goal to reach net-zero emissions by 2050, the European Green Deal, for instance, provides billions in support to sustainable businesses. To lower the initial costs of green investments, numerous local and national governments also provide direct subsidies and tax breaks. These could include financing for research and development of low-carbon technologies, subsidies for fleets of electric vehicles, or rebates for solar panel installations. In addition to fostering the growth of green startups, these policies hasten the market uptake of sustainable goods and services. Green loans have become a powerful instrument for sustainable finance in addition to grants. These are loans specifically designated for environmentally beneficial projects, and they frequently have favorable conditions like reduced interest rates, extended payback periods, or repayment plans that are based on performance. To assist with climate-resilient projects, organizations such as the World Bank, the Green Climate Fund, and several green investment banks provide specialized green loan programs. In order to specifically serve small and medium-sized businesses (SMEs) with environmental missions, some commercial banks have also entered this market by introducing green loan portfolios. Accessing green loans or grants for startups in need of these funds necessitates both a strong business plan and an unambiguous proof of environmental impact. The majority of funding organizations assess applications using standards like energy efficiency, circularity, social sustainability, and carbon footprint reduction. Thus, it is essential to have solid environmental metrics and data to support assertions. Furthermore, obtaining certifications such as B-Corp status or compliance with ESG (Environmental, Social, and Governance) standards can boost one's credibility and chances of getting funding. Additionally, startups now have more opportunities to interact with mission-driven investors who value sustainability in addition to financial returns thanks to the growth of impact investing. Green-minded venture capital firms and angel investors frequently offer seed money to eco-innovative companies, seeking high-growth prospects in line with long-term environmental objectives. Additionally, by reaching out to eco-aware communities, crowdfunding websites such as Kickstarter and Indiegogo are being used to fund green startups. Notwithstanding these encouraging advancements, obstacles still exist. Many startups are not equipped with the knowledge, skills, or resources necessary to successfully negotiate the intricate world of green finance. Grant and loan application procedures may be extremely competitive and cumbersome. Additionally, global scalability is hampered by the uneven distribution of green funding across various regions. Governments, financial institutions, and the private sector must work together more closely to close these gaps in addition to implementing policy changes and raising entrepreneur financial literacy. To address these challenges, startup incubators, accelerators, and advisory organizations are increasingly offering green finance consulting services, helping early-stage companies identify suitable funding options, prepare compelling applications, and build investor-ready sustainability strategies. Digital tools and platforms are also emerging to match green startups with appropriate funding sources, thereby streamlining the connection between innovative ideas and capital. In conclusion, green financing is not merely a niche category of economic support; it is an essential enabler of the global transition toward a more sustainable economy. By making green finance more accessible, equitable, and aligned with the realities of early-stage startups, stakeholders can unlock a wave of innovation that tackles some of the world’ s most pressing environmental issues. Whether through grants, subsidies, green loans, or impact investing, the opportunities for sustainable entrepreneurship have never been more abundant, but seizing them requires a well-informed, strategic, and purpose-driven approach.

Bixiao Luo

This paper investigates the unresolved intellectual property challenges posed by non-fungible tokens (NFTs), a rapidly growing class of digital assets that blend decentralized technologies with creative content distribution. Despite widespread adoption across art, entertainment, and gaming sectors, the legal infrastructure surrounding NFTs remains fragmented, creating uncertainty for creators, buyers, and platforms alike. The objective of this study is to critically evaluate existing theoretical models—including property-based, contract-based, and provenance-centered approaches—and assess their adequacy in governing NFT-related rights and obligations. Methodologically, the paper employs a comparative legal analysis of current NFT licensing practices, supported by interdisciplinary review of blockchain architecture, smart contract functionalities, and relevant international IP frameworks. Based on legal theory, technical standards, and case studies, the paper identifies critical gaps in enforceability, rights attribution, and jurisdictional clarity. In response, the study proposes a hybrid legal-technical framework comprising seven interconnected components: Smart Licensing Infrastructure (SLI), an On-Chain Provenance and Rights Registry, Embedded Royalty Clauses with Legal Backing, Token-Linked Legal Contracts (TLCs), along with dispute resolution and jurisdictional compatibility. These elements collectively aim to bridge decentralized code execution with enforceable legal standards, facilitating clearer licensing arrangements, more reliable royalty enforcement, and scalable dispute resolution mechanisms. It presents a novel blueprint for technical capabilities of NFTs with the foundational requirements of intellectual property law. By incorporating legal metadata, verifiable authorship records, and jurisdictional parameters directly into NFT structures, the framework strengthens legal predictability without restricting innovation. This research contributes to academic discourse by advancing a multidimensional governance approach for digital assets, offering actionable pathways toward regulatory coherence and sustainable development within the NFT ecosystem moving forward.

Atique Ul Hassan, Ergun Gide, Ghulam Mustafa Chaudhry

The transition to renewable energy is imperative for sustainable development, particularly in rural and remote regions where conventional grid connections may be unreliable or absent. Small and Medium Enterprises (SMEs) in rural and remote Australia encounter considerable challenges in embracing renewable energy, such as high initial costs, inadequate infrastructure, and technical knowledge gap. Emerging technologies such as artificial intelligence, Internet of Things, blockchain, machine learning and decentralized energy solutions present promising opportunities to overcome such challenges. This review paper discusses how emerging technologies can assist SMEs in adopting renewable energy by optimizing energy consumption, enhancing grid resilience, and facilitating peer-to-peer energy trading. Furthermore, advancements in battery storage, smart microgrids, and financing models like tokenized green credits can improve accessibility and affordability. By using emerging technologies, SMEs can decrease energy expenses, meet sustainability objectives, and contribute to Australia’s transition to clean energy. This paper examines how modern technologies can be leveraged to promote renewable energy adoption by SMEs in rural and remote regions of Australia, improve operational resilience, and foster sustainable economic growth.

Mutahyoba Baisi

https://docs.google.com/document/d/1vq2OkfFOATNXMRHZZxcIdvJuTnl1eAXm/edit?usp=drive_link&ouid=112593880643485527105&rtpof=true&sd=true

Rabab Asif, Farah Naz, Misal Ijaz

Purpose This study aims to critically examine and clarify the interconnections between green finance and distributed ledger technologies (DLTs), focusing on their contribution to climate actand sustainability enhancement. Grounded in Innovation Diffusion Theory, the study analyzes how DLTs are being adopted, disseminated and integrated into green finance and sustainability initiatives across different countries and research domains, thereby uncovering patterns of technological diffusion and institutional uptake in support of environmental objectives. Design/methodology/approach The research uses a bibliometric analysis to analyze the evolving landscape of DLT’s impact on climate change, green finance and sustainability. Drawing on data from the Scopus database and analyzed through VOSviewer, the study aims to provide a comprehensive overview of the field’s evolution, highlighting successes and challenges in integrating DLT with sustainable finance practices. Findings The study highlights blockchain and DLTs as pivotal in tackling global sustainability and climate change challenges, emphasizing their role in fostering sustainable development. Through an analysis of two decades of research, including key contributors and trends, and leveraging the Innovation Diffusion Theory, it offers valuable insights into the adoption and diffusion of these technologies in green finance and climate action, suggesting a pathway toward a more sustainable and technologically harmonized future. Research limitations/implications This study underscores the urgent need for policymakers, industry stakeholders and academia to embrace blockchain and DLTs for tackling climate change and enhancing sustainability. It advocates for cross-sector collaboration, increased R&D investment, supportive regulatory environments and educational initiatives to expedite the adoption and effective application of these technologies, aiming to achieve global sustainability goals more efficiently. Originality/value This research contributes uniquely to the existing body of knowledge by providing a comprehensive analysis of blockchain and DLTs in the context of global sustainability and climate change. It bridges the gap between technological innovation and environmental action, offering a novel perspective on the application of these technologies in green finance and climate initiatives.

A.M.M. Mubassher Shah

The traditional content monetization system is plagued by lack of transparency, delays, and inefficiencies in royalty payments. The creators struggle to receive timely and fair compensation for their work, particularly when their content is distributed across various platforms like Spotify, YouTube, and Instagram. This research proposes a novel framework utilizing blockchain technology and smart contracts to simplify and standardize royalty distributions, ensuring they are transparent, efficient, and fair for creators across multiple platforms. We examine the technical structure of the smart contract platform, analyze its financial characteristics, and demonstrate its ability to revolutionize content monetization