Monetary technology (FinTech) represents the integration of era into financial services to enhance performance, accessibility, transparency, and purchaser revel in. over the last decade, FinTech has disrupted conventional banking structures, charge mechanisms, investment control, insurance, and lending practices. innovations along with blockchain, synthetic intelligence (AI), digital payments, peer-to-peer lending, and decentralized finance (DeFi) have reshaped the monetary panorama. This paper explores the evolution of FinTech, key technological improvements, economic and regulatory implications, dangers and challenges, and destiny potentialities. The study concludes that whilst FinTech fosters financial inclusion and operational efficiency, it also introduces regulatory, cybersecurity, and systemic dangers that require coordinated global governance frameworks.
Sika AGNONVI, Sèdjro Guillaume Nonkoudjè, Kpèdadon Louis Tèkpanzo, Yao Messah Kounetsron
Résumé Cette recherche analyse le rôle de la finance verte dans la promotion de l’entrepreneuriat durable au sein des petites et moyennes entreprises agricoles au Bénin. La méthodologie adoptée repose sur une approche qualitative fondée sur 46 entretiens semi-directifs réalisés auprès d’agripreneurs répartis dans cinq régions agricoles. L’analyse thématique des verbatims, conduite avec le logiciel NVivo 12, a permis de mettre en évidence une dynamique double. D’une part, la finance verte est perçue comme un levier stratégique pour accompagner la transition écologique et renforcer la résilience des exploitations face aux aléas climatiques, mais son accès reste limité par l’inadéquation des produits financiers existants, la rareté des subventions adaptées et l’absence de guichets verts décentralisés. D’autre part, l’entrepreneuriat durable se traduit par des pratiques telles que l’agriculture biologique, la conservation des sols, l’économie circulaire, la certification écologique et l’innovation verte, intégrant également des dimensions sociales comme l’implication des jeunes et des femmes. Les résultats révèlent une complémentarité forte dont l’accès à une finance verte adaptée facilite l’adoption des pratiques durables, tandis que ces dernières renforcent la crédibilité des PME agricoles auprès des institutions financières. Mots-clés : Finance verte, entrepreneuriat durable, PME agricoles, transition écologique. Abstract The objective of this research is to analyze the role of green finance in promoting sustainable entrepreneurship among small and medium-sized agricultural enterprises in Benin. The methodology adopted is based on a qualitative approach using 46 semi-structured interviews with agripreneurs in five agricultural regions. Thematic analysis of the transcripts, conducted using NVivo 12 software, revealed a dual dynamic. On the one hand, green finance is perceived as a strategic lever to support ecological transition and strengthen the resilience of farms in the face of climate hazards, but access to it remains limited by the inadequacy of existing financial products, the scarcity of appropriate subsidies, and the absence of decentralized green windows. On the other hand, sustainable entrepreneurship is reflected in practices such as organic farming, soil conservation, the circular economy, ecological certification, and green innovation, also incorporating social dimensions such as the involvement of young people and women. The results reveal a strong complementarity, with access to appropriate green finance facilitating the adoption of sustainable practices, while the latter reinforce the credibility of agricultural SMEs with financial institutions. Keywords: Green finance, sustainable entrepreneurship, agricultural SMEs, ecological transition.
Muhammad Irwan Ariffin, Noor Hazrin Hany Mohamad Hanif
The transition to decentralized renewable energy systems has gained significant attention, particularly through peer-to-peer (P2P) energy trading models that enable direct energy transactions between participants. While these systems offer technological and economic benefits, challenges persist in terms of social equity, technological accessibility, and ethical considerations. This chapter adopts a qualitative methodology based on a comprehensive literature review and meta-analysis and uniquely integrates Islamic finance principles, such as fairness, transparency, and risk-sharing, into the evaluation of P2P energy trading models. Through a review of pricing determination techniques and Islamic financial frameworks, a conceptual model is proposed to align decentralized energy markets with ethical financial practices. The findings offer policy insights for regulators and stakeholders, particularly in Muslim-majority regions, to develop inclusive and socially responsible energy trading systems that balance economic growth, environmental sustainability, and ethical values.
Abstract: The global payments landscape is undergoing a structural transformation driven by the convergence of Digital Finance (DF) technologies and Artificial Intelligence (AI). This integration marks a shift from isolated digital payment systems toward interconnected, intelligent, and highly automated financial infrastructures. AI functions as the core intelligence layer across digital rails - including Distributed Ledger Technology (DLT), Central Bank Digital Currencies (CBDCs), stable coins, and mobile networks - optimizing payment routing, enabling real - time fraud detection, and automating compliance obligations such as AML / KYC. The result is enhanced straight-through processing rates exceeding 99%, reduced cross - border transaction frictions, improved liquidity management, and democratized access to enterprise - grade payment capabilities through API - enabled FinTech platforms. However, rapid adoption introduces new systemic challenges, including algorithmic bias, data privacy vulnerabilities, explains ability concerns, and heightened third - party concentration risks. Emerging regulatory frameworks increasingly emphasize transparency, governance, and explainable AI (XAI), as evidenced in supervisory innovations such as the BIS Project Noor. While digital - AI convergence improves efficiency and fosters financial inclusion, uneven technological capacity risks widening the digital divide without deliberate inclusive design and shared digital infrastructure. This study synthesizes global trends, technological architectures, governance models, and strategic imperatives underpinning AI - enabled payment ecosystems. It highlights a future defined by programmable finance, real - time cross - border rails, intelligent automation, and collaborative regulatory innovation - establishing the foundations for secure, ethical, and scalable digital financial systems worldwide. Keywords: Digital Finance, Artificial Intelligence, Global Payment Systems, Block Chain, Distributed Ledger Technology, Cross - Border Payments, CBDCs, AI Governance, Explainable AI (XAI), Regtech, Straight - Through Processing, Financial Inclusion, Programmable Money, Fintech Infrastructure
This article reviews how blockchain-native finance is reshaping financial intermediation and how the next wave of digital finance is likely to be influenced by large language models (LLMs) and quantum finance research. Building on recent work on decentralized finance, blockchain implementation, supply chain finance, and emerging FinTech architectures, the study develops an integrated analytical framework that connects three layers of change: programmable settlement, intelligent decision support, and frontier computational finance. Rather than treating DeFi, blockchain-based supply chain finance, LLM applications, and quantum finance as isolated topics, the review shows that they form a continuous innovation trajectory with shared challenges in governance, interoperability, data quality, risk modeling, and institutional trust. The paper synthesizes prior findings, compares major technical and managerial mechanisms, and proposes a research agenda for resilient, explainable, and regulation-aware financial innovation. The results suggest that blockchain creates a credible record and execution layer, LLMs expand interpretive and operational intelligence, and quantum finance may eventually widen the solution space for complex risk-pricing and portfolio problems. The article concludes with practical implications for platform designers, regulators, and industry managers.
The amount of international capital invested in sustainability-focused investments and decentralized financial technologies has been growing fast. Thus, this research focuses on the transmission of volatility and optimal portfolio composition among decentralized finance (DeFi) assets, S&P renewable energy and technology market indices, and conventional energy commodities for the period from March 15, 2018, to August 30, 2024. The sample period was divided into three sub-periods to examine the impact of COVID-19, which increased in parallel with the adoption of DeFi and a focus on sustainability: pre-COVID, during-COVID, and post-COVID. This research utilizes the Diebold-Yilmaz and Baruník-Křehlík techniques for time-and frequency-domain analyses, and the Dynamic Conditional Correlation model for portfolio optimization. First, the findings reveal that DeFi tokens (sustainable markets) (brown investments) display moderate (high) (very low) internal connectedness. Second, DeFi tokens demonstrate very low volatility connectedness with both sustainable and brown markets, which suggests strong diversification effects. Third, volatility connectedness among sustainable markets and conventional energy commodities is equally low. Fourth, sustainable markets (conventional energy commodities) make the highest (lowest) contribution to total volatility connectedness, and they operate as net transmitters (receivers) of volatility. Moreover, the total volatility connectedness is 33.7%, which is relatively low, suggesting significant opportunities for diversification of investment portfolios. Furthermore, the outcomes for optimal portfolio weights present greater allocations to green markets compared to conventional energy commodities and DeFi assets, revealing an escalating global transition toward sustainability. Additionally, COVID-19 significantly influenced volatility transmissions and portfolio allocations.
Purpose The primary purpose of this research is to empirically analyze the co-movement, nonlinear dynamics, and spillover effects among non-fungible tokens (NFTs) and decentralized finance (DeFi) tokens, carbon exchange-traded funds (ETFs). The study aims to quantify these interactions, especially during major global crises, to derive practical implications for constructing sustainable and diversified investment portfolios. It seeks to provide a quantitative foundation for environmentally conscious investors to navigate the risks and opportunities at the intersection of digital finance and sustainability, addressing a significant gap in the existing literature. Design/methodology/approach This study employs a quantitative approach using advanced econometric models to analyze the daily returns of NFTs, DeFi tokens and Carbon ETFs. The methodology is centered on time-frequency analysis to capture dynamic relationships. Key methods include wavelet coherence (WTC) to identify co-movements across different time scales, partial wavelet coherence (PWC) to isolate direct linkages by controlling for systemic factors and wavelet correlation to examine how these relationships evolve over various investment horizons. This robust framework moves beyond traditional linear models to analyze complex, nonlinear market dynamics. Findings The relationship between digital assets and carbon ETFs is profoundly dynamic, event-driven and frequency-dependent. Co-movements, weak in the short term, intensify dramatically during global crises like the COVID-19 pandemic and geopolitical conflicts. The correlation strengthens progressively as the investment horizon lengthens, indicating carbon ETFs serve as a strong proxy for long-term systemic factors. PWC analysis confirms these are genuine, direct linkages, not merely spurious correlations, highlighting the true interconnectedness of these markets during periods of global instability. Research limitations/implications This study is limited by its focus on a specific set of assets and a defined time period (2020–2024); therefore, findings may not be generalizable to all market conditions or digital assets. The use of CRBN and SMOG as proxies for the carbon market may not capture all nuances of environmental finance. Future research could expand this framework by incorporating other financial markets, such as bonds and commodities, or by applying regime-switching models like SETAR to further explore nonlinear dynamics and enhance the robustness of the findings. Practical implications For environmentally conscious investors, this study provides a quantitative foundation for building climate-aligned portfolios. The findings demonstrate that integrating carbon ETFs into a digital asset portfolio is a sound risk management strategy that enhances diversification and hedges against both market volatility and potential regulatory risks tied to blockchain’s carbon footprint. The results suggest a strategic allocation approach: utilizing stablecoins as portfolio anchors, carefully managing exposure to central shock transmitters and incorporating carbon ETFs for long-term stability and hedging. Social implications This research provides a data-driven roadmap for aligning the burgeoning field of digital finance with pressing sustainability goals. By demonstrating how to construct portfolios that are both financially robust and environmentally responsible, it addresses the significant environmental concerns surrounding blockchain technology. This contributes to a more sustainable financial ecosystem, offering a pathway for investors to participate in innovative digital asset markets while actively managing and hedging against their carbon footprint, thereby promoting greater corporate and social responsibility in finance. Originality/value This paper’s originality lies in its comprehensive empirical analysis of the co-movement and nonlinear dynamics among the specific triad of NFTs, DeFi tokens and carbon ETFs – an intersection that remains largely unexplored. By applying advanced wavelet-based methodologies, the study provides novel, actionable insights into the event-driven and frequency-dependent nature of their interconnectedness. It successfully bridges the gap between digital finance and sustainability, offering a unique, data-driven framework for constructing resilient, next-generation portfolios that are both financially sound and environmentally conscious.
Abstract One of the key challenges of energy decentralization through DERs is financing. This chapter evaluates the potential role of Islamic finance as a tool to bridge the gap in the current financing of DER infrastructure. Focusing on the opportunities and challenges in African countries, the chapter explores innovative financing approaches, including Islamic financing instruments, microfinance solutions, co-operative models, and crowdfunding, to address the resource gap. The engagement of Islamic finance in the promotion of renewable energy offers substantial advantages in advancing global sustainability initiatives. However, maximizing its full potential of Islamic financing will require supportive legal and institutional frameworks that simplify and reinforce its application in the energy sector. Yet, as demonstrated in this chapter, such supportive frameworks are not easily forthcoming in many countries. The chapter analyses legal and institutional challenges to the financing of DER projects through Islamic financing and offers recommendations on addressing them.
In response to growing environmental, economic, and social demands for more accountable carbon markets, there is increasing recognition of the limitations inherent in traditional carbon credit management systems. These systems often rely on centralized authorities, making them prone to inefficiencies such as high administrative costs, slow verification processes, and limited accessibility for small-scale participants. Moreover, issues like double counting, lack of transparency, and data tampering continue to undermine stakeholder trust and market integrity. A decentralized approach powered by blockchain technology offers a transformative alternative by ensuring transparency, immutability, and automation through the use of smart contracts. On blockchain platforms such as Polygon, carbon credits can be tokenized using the ERC-721 standard, where each credit becomes a unique, verifiable non-fungible token (NFT). These tokens allow precise tracking of credit ownership, issuance, transfers, and retirement (burning), effectively eliminating the need for intermediaries and reducing verification costs. This decentralized model not only enhances operational efficiency but also democratizes participation in the carbon economy, enabling even smaller stakeholders to engage meaningfully. By combining environmental accountability with digital innovation and economic inclusivity, blockchain-based carbon credit platforms represent a significant advancement toward more sustainable, transparent, and equitable global climate and resource governance systems.
This study investigates the impact of sustainability-related uncertainty (SRU)—captured via the Sustainability-related Uncertainty Index in equal-weighted (ESGUI_EQ) and GDP-weighted (ESGUI_GDP) forms—on the volatility of green financial assets, focusing on decentralized finance (DeFi) protocols and Environmental, Social, and Governance (ESG)-focused Exchange-Traded Funds (ETFs). Employing a fuzzy logic framework, complemented by 3D surface visualization, Rule Viewer analysis, diagnostic validation, and Granger causality tests, the study uncovers non-linear, asymmetric, and time-varying responses of these assets to sustainability ambiguity. Empirical results reveal a structural divergence: DeFi protocols amplify volatility due to fragmented governance, speculative investor behavior, and sensitivity to policy-driven signals, often exhibiting bidirectional predictive feedback with SRU, whereas ESG ETFs maintain stability through diversification, regulatory oversight, and rigorous ESG screening, primarily absorbing sustainability shocks. These findings extend sustainable finance theory by integrating governance, technology, and policy dimensions, and illustrate the value of fuzzy logic combined with Granger causality in modeling complex, ambiguous markets. From a practical standpoint, the study provides actionable guidance for investors, fund managers, and policymakers, emphasizing the importance of technology-informed governance, standardized ESG disclosures, regulatory sandboxes, and continuous monitoring of SRU.
Stephen Bishibura Erick, Bonamax Mbasa, Kulwa Mang’ana
This study conducts a comprehensive bibliometric analysis of scholarly research on green economy and sustainable finance from 2014 to 2024. Drawing upon a dataset of 692 peer-reviewed publications indexed in Scopus and analysed using the Bibliometrix R package, the study maps the field’s intellectual landscape, thematic development, and collaborative networks. The findings reveal a consistent increase in scientific output, with a pronounced surge in publications after 2018. This growth trend aligns with global policy milestones such as the Paris Agreement, the European Union [EU] Sustainable Finance Action Plan, and the proliferation of Environmental, Social, and Governance [ESG] integration and green bonds. China emerges as the most productive country, while institutions such as Jiangsu University, the Southwestern University of Finance and Economics, and the Lebanese American University lead in publication volume and collaboration intensity. Keyword co-occurrence and thematic mapping identify dominant themes related to green finance, environmental sustainability, ESG frameworks, and renewable energy, alongside emerging topics like climate risk disclosure and transition finance. Conceptual and co-word network analyses further reveal the interdisciplinary integration of finance, economics, policy, and environmental science. The study also demonstrates the growing decentralization of institutional influence and the rise of both North–South and South–South collaborations. These findings offer valuable insights into the evolving structure of research in sustainable finance and inform future academic inquiry and policy development.
This study aims to examine the development and structure of global research on Sharia finance through a bibliometric analysis of publications indexed in the Scopus database from 2010 to 2024. Using bibliometric techniques and visualization tools such as VOSviewer, this study analyzes publication trends, collaboration networks among authors, institutions, and countries, as well as the thematic evolution of research topics in the field of Islamic finance. The results indicate that research on Sharia finance has grown significantly during the observed period, reflecting the increasing global importance of Islamic financial systems. The collaboration analysis shows that several key authors and institutions play central roles in connecting different research groups, while countries such as Indonesia, Malaysia, Saudi Arabia, the United Kingdom, and the United States emerge as important contributors to the global research network. Keyword co-occurrence analysis reveals that dominant themes include Islamic banking, Sharia compliance, financial institutions, and Islamic law. At the same time, emerging topics such as financial technology (fintech), blockchain, decentralized finance, and financial inclusion indicate a shift toward digital transformation and innovation in Islamic financial services. Furthermore, themes related to sustainable development, ESG, and waqf highlight the growing integration of Islamic finance with broader sustainability and ethical finance agendas. This study provides a comprehensive overview of the intellectual structure, collaboration patterns, and emerging research trends in Sharia finance, offering valuable insights for future academic research and policy development in the global Islamic financial industry.
This paper introduces CarbonLedgerProof (CLP), a novel cryptographic traceability algorithm designed to connect asset-level emissions data with financial statement estimates for enhanced Environmental, Social, and Governance (ESG) assurance and impairment testing. The proposed CLP algorithm bridges the gap between carbon emissions reporting and the financial implications of environmental risks, ensuring transparency and traceability across asset portfolios. By integrating blockchain technology and zero-knowledge proofs (ZKPs), CLP offers a secure and efficient way to validate emissions data against financial estimates, addressing challenges in ESG data integrity and providing an automated framework for impairment testing in the context of sustainability. In comparison to existing algorithms such as GreenLedger, CarbonProof, ESG-Chain, and a Traditional Audit (TradAudit) baseline. CLP demonstrates superior performance in terms of scalability, data integrity, and computational efficiency. Through an extensive experimental evaluation, we showcase CLP's ability to significantly reduce verification time and enhance the accuracy of ESG assurance processes. The results indicate that CLP outperforms traditional methods in integrating emissions data into financial systems, offering an innovative approach for real-time emissions monitoring and risk assessment. This paper concludes by proposing CLP as a transformative tool for corporate ESG reporting, with practical implications for financial institutions, auditors, and regulators seeking to streamline the integration of carbon data into decision-making frameworks.
Sustainable finance models are most often built for contexts characterized by institutional stability, effective governance, and functioning capital markets. In fragile states, such conditions are often absent. This paper revisits sustainable finance through the case of Lebanon, where the post-2019 financial collapse rendered conventional instruments, such as ESG frameworks, green bonds, and sustainability-linked loans, difficult to implement and contextually irrelevant. Drawing on literature regarding sustainable finance, degrowth and post-growth economics, and the political economy of fragility, the paper proposes a conceptual framework for Agile Sustainable Finance: a model that explains how financial practices oriented towards sustainability can persist despite institutional collapse with agility operating as the mediating capability. The model positions agility as the central capability enabling households, firms, and communities to reorganize financial life amid institutional erosion, liquidity shortages, and involuntary degrowth. It highlights how informal credit systems, remittances, community financing, and decentralized energy solutions become essential tools for resilience and ecological sufficiency in collapsed economies. By reframing finance as a mechanism for survival, redistribution, and basic sustainability rather than growth, this conceptual study offers a theoretical model that bridges domains that rarely intersect: sustainable finance and fragile-state dynamics.
This research demonstrates the environmental impacts of Digital Currencies (DC), particularly focusing on Bitcoin's (BTC) energy-intensive Proof-of-Work (PoW) process as well as a fundamental expectation for sustainable alternatives, which can be termed as Green Coins (GC) which are expected to be able to maintain the benefits of BTC, while generating little to no negative impacts on the environment. Bitcoin is estimated to consume about 150 TWh annually, a measure comparable to that of a mid-sized country, while also generating 60 to 90 million metric tons of$\text{CO}_{2}$emissions and about 30,000 metric tons of electronic waste (e-waste) through deliberate accelerated hardware obsolescence. On the other hand, GC tends to use more efficient proofs such as Proof of Stake (PoS) and Proof of Space-time (PoST) and examples include Ethereum following its 'Merge' estimated a reduction of over 99 % of energy use and Dogecoin has and even lower environmental impact compared to BTC. Using data sets from the Cambridge Bitcoin Electricity Consumption Index (CBECI) and Digiconomist, this study quantifies Bitcoin's carbon footprint and tracks the trends from 2017 to 2025, through more extensively investigating its sustainability profile relative to its GC counterparts. Findings reveal Bitcoin continues to have high energy use and e-waste, peaking in 2021, while both Ethereum (ETH) and Dogecoin (DG) had significant gains in sustainability improvements. Addressing scaling, security, and regulatory issues, the paper highlights the potential of sustainable financing within the digital financial markets to drive Green technologies, which is increasingly important for aligning cryptocurrency financing with Environmental, Social, and Governance (ESG) parameters, providing a way to continue to innovate while decarbonizing digital financing.
Amro Saleem Alamaren, Korhan K. Gökmenoğlu, Nigar Taşpınar
Abstract This study investigates the volatility spillover and connectedness networks among renewable energy sources (Biofuel, Fuel cell, Geothermal, Solar), green bonds, and cryptocurrencies (Bitcoin, Ethereum, Tether, and BNB coin) in the U.S. market. To accomplish this objective, we analyzed data from November 15, 2017, to May 31, 2024, via the methods introduced by Diebold and Yilmaz (Int J Forecast 28:57–66, 2012) and Baruník and Křehlík (J Financ Econometr 16:271 296, 2018). Our findings reveal that major global disruptions—including the COVID-19 pandemic, the Russia–Ukraine war, the collapse of Silicon Valley Bank, and the Credit Suisse crisis—have intensified volatility spillovers and financial contagion across markets, exacerbating their outcomes. The findings suggest that the effectiveness of green finance depends on its allocation across these sectors, highlighting the importance of examining each sector to understand the success of these financial initiatives. The influence of COVID-19 on the U.S. economy has increased transmission risk across markets. Renewable energy is less volatile than green bonds and cryptocurrencies are, with these indices reacting more quickly to short-term shocks. Investors should focus on short-term impacts to manage market risk effectively. By providing insights into how financial shocks propagate across sectors, emphasizing the need for a sector-specific approach to assessing financial sustainability, and underscoring the importance of short-term risk management strategies, this research offers valuable contributions to decision-makers and investors.
Multi-chain deployment has become a mainstream strategy for U.S.-based DAOs, yet treasury management faces three core bottlenecks: cross-chain liquidity fragmentation, inadequate compliance with U.S. regulations (including OFAC sanctions screening and SEC transparency requirements), and inefficient revenue distribution. Leveraging the incubation practices of over 12 U.S. DAOs (via daos.world) and expertise in multi-chain smart contract development, this study proposes a three-dimensional risk and compliance optimization framework (cross-chain risk hedging + real-time regulatory screening + hierarchical revenue distribution). Empirical testing on 8 U.S. DAOs (operating on Base/Ethereum/Solana, covering AI-focused, meme coin-focused, and investment-focused types) over a 6-month period (September 2025 - February 2026) demonstrates that the framework reduces cross-chain compliance risks by 82.3% (OFAC violation rate drops from 18.0% to 3.2%), increases the annualized treasury return rate by 17.6% (from 4.2% to 5.04%), lowers cross-chain transaction costs by 28.5% (average Gas fee decreases from $12.8 to $9.1), and shortens liquidity adjustment response time from 48 hours to 6 hours. Integrating U.S. regulatory requirements with cross-chain technical logic, this research addresses the theoretical gap in multi-chain DAO treasury management, provides a replicable paradigm for U.S. DAOs to balance compliance, security, and profitability, aligns with the standardization strategy of the U.S. Web3 ecosystem, and is expected to unlock $15-20 billion in potential investment value.
This article discusses the impact of Distributed Ledger Technologies (DLT) and digital assets in financial landscape, emphasizing the evolving role of Certified Management Accountants (CMAs) by 2026. It highlights the transition of blockchain from an experimental tool to a crucial component in finance, improving transparency and automation. The article highlights asset tokenization, illustrated by Pakistan's tokenization of sovereign bonds, and the use of smart contracts in treasury operations, which also pose risks. The emergence of the Pakistan Virtual Asset Regulatory Authority (PVARA) is noted for enhancing regulation and accountability in digital assets. The article also calls for CMAs to adapt traditional accounting principles, develop cybersecurity skills, and strategically manage digital assets, thus redefining Corporate Finance and presenting new challenges and opportunities for accurate financial representation.
Emergence of blockchain technology has disrupted a number of economic sectors, particularly financial institutions, with significant effects on their operations. This paper investigates the impact of asset tokenization on the issuance and trading process of financial assets, specifically bonds. It examines the effect of tokenizing the High Yield Bond on the Ethereum blockchain across two key dimensions: On costs, a comparative cost-benefit analysis is conducted before and after tokenization, and on green sustainability, through a comparative analysis on the carbon footprint of the bond before and after Ethereum's merge to proof of stake. The results show that Tokenization improves cost-savings, and it promotes a greener, more sustainable approach when using the Ethereum blockchain post-transition to proof of stake.
Sustainable Development Goal 7 (SDG-7) seeks universal access to affordable, reliable, and modern energy by 2030, yet progress remains uneven and structurally constrained. Despite declining renewable energy costs, around 685 million people lack electricity and more than 2 billion depend on traditional biomass for cooking. This review moves beyond descriptive assessments by providing a systematic, decision-oriented synthesis of SDG-7 pathways. Using a replicable PRISMA-informed protocol, it integrates peer-reviewed studies and authoritative international datasets published between 2015 and 2025. Centralized, decentralized, and hybrid energy systems are evaluated in terms of technical maturity, affordability, governance feasibility, and socio-environmental impacts. A structured barrier-to-intervention framework identifies context-specific challenges, including intermittency, financing risk, institutional capacity, infrastructure gaps, and climatic and geopolitical exposure, alongside viable technological and policy responses. Comparative case studies from India, Sub-Saharan Africa, Southeast Asia, and Latin America explain divergent outcomes of similar technologies across institutional and market contexts, and development pathways globally.