Akkaraju Sailesh Chandra, Lakshmi Iyer, Helen Josephine V.L, Nisha Shankar
This research investigates the integration of machine learning algorithms within blockchain-based Decentralized Autonomous Organizations (DAOs) to enhance operational efficiency, resource allocation, decision-making, and governance. While DAOs provide a transparent and trustless mechanism for digital collaboration, they face challenges related to scalability, bias, data privacy, and coordination. We propose a novel framework that leverages supervises learning models for predictive analytics, reinforcement learning for autonomous decision-making, and unsupervised learning for anomaly detection in DAO voting and resource usage patterns. The study also addresses security and privacy risks by incorporating federated learning and homomorphic encryption. Our proposed model demonstrates improved throughput, decision accuracy, and fairness, as evidenced by performance benchmarks against traditional DAO implementations. The findings suggest that machine learning can significantly optimize DAO architecture and contribute to a more scalable, democratic, and intelligent decentralized ecosystem.
This study explores the automation of smart contract generation in construction, leveraging Large Language Models (LLMs) like OpenAIâs ChatGPT. Traditional construction contracts often suffer from delays and disputes, particularly in payment processes. The paper investigates automating the transformation of these traditional contracts into smart contracts, which promise enhanced efficiency and transparency. By conducting an extensive literature review and analyzing various contract types, the study identifies critical elements that are translatable into smart contracts. The experimental phase demonstrates the effective use of the ChatGPT API in extracting necessary contract information for conversion. This approach aims to streamline contract management, reduce disputes, and improve overall project execution. The potential of LLMs in this context is significant, indicating a shift towards more automated, reliable, and transparent contract management in the construction industry.
Blockchain Technology Applications and Security
Artificial Intelligence in Healthcare and Education
Tanim Hasan Ovi, Ifftekher Hossain Mrida, Fatema Tuj Tarannom Esty, Safayet Ahmed · 5 authors
Regular crowdfunding platforms are excited by the mystery, centralization, and abnormally high rates, and, in turn, the search for less traditional ways for this purpose. In this paper, we present the work of designing and evaluating a donation system to leverage the Ethereum-supported blockchain along with emerging web tools. The objective is a transparent, auditable system. Users can launch fundraisers, donate Ethereum, and monitor their progress. Actors are struggling to keep up. The core mechanical pieces are driven by smart contracts written in Ethereumâs Solidity. These contracts define the driving terms of the agreement, including funding amounts, degree of wet service access, and agreed-upon payment plan, cash call, and payback. The front end is integrated with React.js, and Ethers.js is an easy-to-use client library that uses blockchain to communicate with MetaMask. Functionality was tested with starting drives, donations, and withdrawals using development environments of Hardhat, Ganache, and Remix IDE. Avg. Transaction processing costs were in the ballpark of 200,000 Gas units, which was acceptable for Layer-1 Ethereum networks. The system is designed with security features, implementing access control, timestamp verification, and reentrancy protection as a step toward addressing common smart contract vulnerabilities. We will soon integrate DAO governance, the ability to convert fiat to crypto, phone support, and enhanced Layer- 2 scaling.
Blockchain is a revolutionary technology now a days. It has opened various platforms for research too. Blockchain is decentralized distributed network system with no central authorization. Because of its inherent features it has been used in various applications. Features are immutability, anonymity, transparency, decentralized etc. This study gives the basic idea about blockchain technology. The study also investigates consensus mechanisms to add transactions in the network. This study gives an idea about what the various frameworks are and how consensus protocols work under various frameworks. Bitcoin, Ethereum are the common frameworks used in blockchain technology. Proof of Work (PoF) and Proof of Stake (PoS) are the commonly used consensus types in blockchain. The analysis includes considerations about blockchain process, types of blockchain, layered architecture of blockchain, consensus protocols, blockchain framework, applications of blockchain. This study emphasizes the need for better scalability, security and integrity options. In future, Blockchain technology has the potential to integrate with many technologies like Artificial Intelligence (AI), Cloud Computing, Internet of Things (IoT) etc.
Ankenbrand, Thomas, Bieri, Denis, Ferrazzini, Stefano, Hoehener, Johannes
Tokenised money encompasses a broad range of digital monetary instruments issued on distributed ledger technology, including Central Bank Digital Currencys (CBDCs), deposit tokens, stablecoins, and decentralised protocol-based designs. Despite their shared monetary function, these instruments differ markedly in issuer structure, collateralisation, stability mechanisms, governance, and technological embedding, creating conceptual ambiguity. This paper proposes a concise taxonomy spanning twelve key design dimensions, offering a systematic framework for comparing heterogeneous forms of tokenised money. The taxonomy clarifies how different design choices shape monetary properties, risks, and policy implications, supporting clearer analysis and dialogue across academia, industry, and regulation.
Abstract Decentralized finance (DeFi) is rapidly transforming financial systems, yet its environmental, social, and economic sustainability implications remain underexplored. To address this gap, we conducted a structured review of peer-reviewed literature published between 2022 and 2025, drawing on 239 records retrieved from Scopus and Web of Science and screened through the PRISMA 2020 protocol in Covidence. The review combined bibliometric analysis, thematic mapping, and a systematic review to synthesize patterns, clusters, and critical insights. Bibliometric results show a sharp post-2023 rise in outputs, with China leading in publication volume and Switzerland achieving the highest citation impact, although collaboration networks remain fragmented and weakly connected. Thematic analysis reveals three dominant clusters: blockchain-driven financial innovation, AI and fintech applications for sustainability, and green economy transitions, highlighting DeFiâs dual role as a driver of transparency and inclusion but also a source of energy inefficiency and systemic risk. The systematic review further identifies regulatory gaps, particularly around Maximal Extractable Value (MEV), and emphasizes the need for energy-efficient consensus mechanisms, standardized ESG metrics for tokenized assets, and inclusive platform designs to bridge digital divides. By aligning DeFiâs disruptive potential with sustainability objectives, the study proposes hybrid governance models and interdisciplinary collaboration to foster a resilient, equitable, and low-carbon financial ecosystem, underscoring the urgency of balancing technological innovation with planetary boundaries to realize DeFiâs promise as a catalyst for sustainable development.
The growing use of digital payments still depends on centralized intermediaries which raises issues of trust, transaction costs, delays, and vulnerability of the system as a whole. This paper describes the development of a mobile app to implement decentralized payments through blockchain. The proposed system uses a permissioned distributed ledger and smart contracts to facilitate secure, peer-to-peer, and highly independent transactions. This work explain the system's architecture and design reasoning as well as assess the focus on security and performance with respect to transaction latency, scalability, and costs. Data from prototype implementation demonstrates mobile app payments with the proposed solution and a considerable reduction in costs in comparison to traditional payments. This mobile payment solution demonstrated the system to meet transaction latency of mobile payments within the targeted range. This paper identifies issues and obstacles within the domain of decentralized mobile payments such as scalability, regulation, and user acceptance and proposes possible refinements and research opportunities in DeFi. This work enhances the set of blockchain-powered mobile payment systems, adding to the knowledge on the possible use of decentralized systems in the finances of the economy.
Mohammad Sharif Karimi, Omar Esqueda, Naveen Mahasen Weerasinghe
This study employs a quantile-on-quantile connectedness approach to analyze the asymmetric, distribution-dependent, and time-varying spillovers between FinTech indices and traditional financial markets. The results show that spillovers are concentrated in the distribution tails, with FinTech indices exhibiting strong co-movements with equities and Bitcoin under extreme conditions, while linkages with U.S. Treasury bonds are weaker and often inverse. Net connectedness analysis reveals that the S&P 500 and Bitcoin act as the primary transmitters of shocks into FinTech indices, whereas Treasuries generally serve as receivers, except during stress episodes when safe-haven flows or heightened credit risk reverse the direction of spillovers. The dynamic âTCI (Difference between the total direct connectedness and the reverse total connectedness) further demonstrates that FinTech indices serve as net transmitters in stable markets but become receivers during crises such as the COVID-19 pandemic, the Federal Reserveâs tightening cycle of 2022â2023, and the FTX-driven crypto collapse. Segmental heterogeneity is also evident: distributed ledger firms are highly sensitive to cryptocurrency dynamics, alternative finance providers respond strongly to both equity and bond markets, and digital payments firms are primarily influenced by equity spillovers. Overall, the findings underscore FinTechâs dual roleâtransmitting shocks during tranquil periods but amplifying systemic vulnerabilities during crises. For investors, diversification benefits are state-dependent and largely disappear under adverse conditions. For regulators and policymakers, the results highlight the systemic importance of FinTechâequity and cryptoâledger linkages and the need to integrate FinTech exposures into macroprudential surveillance to contain volatility spillovers and safeguard financial stability.
Traditional financial lending systems face ongoing issues. These include too much involvement from middlemen, limited financial inclusion, a lack of transparency, and centralized decision-making. Such problems push unbanked and underbanked populations to the margins. This paper presents a blockchain-based decentralized peer-to-peer (P2P) credit system built on the Ethereum network. It uses smart contracts and Decentralized Autonomous Organization (DAO) frameworks that are transparent, secure, and accessible worldwide. Traditional financial institutions still rely heavily on centralized models. These models involve many intermediaries, slow processes, and high operational costs. As a result, many people have restricted access to financial services. According to the World Bank's Global Findex Database, around 1.7 billion adults are unbanked and shut out from essential financial systems. This exclusion often stems from strict eligibility requirements, lack of credit history, and absence of collateral. It not only hampers individual financial growth but also limits broader economic inclusion in developing nations. The proposed model eliminates the need for centralized institutions. It speeds up transactions, increases transparency, and allows for borderless digital lending. The system architecture uses Solidity for smart contract development, Web3.js for blockchain interaction, and a React-based user interface to create a robust full-stack decentralized application (DApp). The framework features automated asset collateralization, AI-driven interest rate modeling, trust-score-based borrower assessment, and community governance mechanisms. Performance comparisons show marked improvements in transaction speed, efficiency, and financial access compared to traditional lending models. The prototype achieves a 65% reduction in infrastructure costs and an 80% faster loan settlement time across different regions.
Financial innovations have emerged as one of the most influential forces shaping contemporary commerce, redefining the mechanisms through which businesses operate, transact, and compete. As global markets become increasingly interconnected and digitalized, the demand for more efficient, secure, inclusive, and scalable financial systems continues to grow. This research article investigates the multi-dimensional role of financial innovationsâspanning digital payments, block chain technologies, neobanking, artificial intelligence in finance, and alternative lending modelsâand examines how these advancements are reshaping commercial practices, market structures, and customer experiences. The study draws from established literature, recent empirical findings, and theoretical frameworks to provide a comprehensive understanding of how financial innovations contribute to transactional efficiency, risk management, cost reduction, and value creation within commerce. The article further explores how financial innovations facilitate business expansion, enhance consumer accessibility, and support regulatory compliance through technologies such as RegTech and Insur Tech. Special emphasis is placed on the convergence of financial services with digital commerce platforms, leading to embedded finance models and the democratization of financial access for micro, small, and medium enterprises (MSMEs). Additionally, the study highlights emerging trends including decentralized finance (DeFi), tokenization of assets, real-time data analytics, and the growth of digital currenciesâeach of which represents a new frontier in commercial transformation. The findings suggest that while financial innovations bring unprecedented opportunities for growth, they also introduce challenges related to cyber security, regulatory uncertainty, data privacy, and operational risks. The paper concludes by identifying key future prospects and research directions, emphasizing the need for stronger governance models, global regulatory harmonization, and interdisciplinary research to unlock the full potential of financial innovations in commerce. The study contributes to ongoing scholarly discourse by offering a holistic and forward-looking perspective that can guide policymakers, businesses, researchers, and financial institutions.
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.
Purpose The evolution of the cryptocurrency landscape has been innovative, dynamic and adaptable. Using performance analysis and science mapping techniques, the study aims to conduct a bibliometric analysis to examine the landscape of the cryptocurrency domain, focusing on the forecasting aspect. Design/methodology/approach The study uses metadata from the Scopus database, ranging from 2015 to 2024, comprising 849 articles. They identified significant research constituents and five major thematic clusters. Findings The findings suggest that the research in the domain has yet to reach its full potential. The clusters involve structural shifts or turbulence in cryptocurrency markets, machine learning-based cryptocurrency price prediction, forecasting Bitcoin price and volatility, Bitcoin returns analysis, and cryptocurrency: A hedge and safe haven alternative. Further empirical analysis revealed that the artificial neural network and deep neural network outperformed the traditional statistical model, the autoregressive integrated moving average (ARIMA). Originality/value The study supplement these findings with significant future research directions, which will be beneficial for upcoming studies as the field has immense potential and countless areas worth exploring.
K. C. Yang, W. P. Chao, Cm Shih, C.C. Kao · 5 authors
With the rapid advancement of technology in the financial sector, financial technology (FinTech) has become a major focus of industry development. Among its various branches, insurance technology (InsurTech) has emerged as a particularly prominent and widely discussed topic in recent years. By leveraging innovative technologies such as artificial intelligence (AI) and blockchain, insurance processes can be automated to enhance service efficiency while maintaining data integrity. This study proposes a business model based on blockchain technology and implements an insurance system using Ethereum smart contracts to support the purchase of flight delay insurance and automate the claims process. The system ensures the integrity of both policy information and transaction records. To determine flight delays, it utilizes the Open API provided by the Transportation Data eXchange (TDX) of Taiwanâs Ministry of Transportation. This integration aligns with the core principles of insurtech, particularly in promoting data sharing and interoperability in system development.
The study is grounded on the significant shifts, central values, and increased influence of Blockchain Technology on the industries. It addresses Blockchain Technology starting theoretically as a cryptographic concept of the beginning through to its contribution as a primarycomponent of decentralized computing (Web3). The discussion begins as the key issues are examined, namely, decentralized agreement, cryptographic hashing, and immutability. Such subjects enable the Blockchain Technology to gain trust in cases where mediators were being used in the past. Moreover, the research considers the impacts of Blockchain Technology on such critical industries as Decentralized Finance (DeFi), supply chain management, and decentralized governance (DAOs).
Purpose: To investigate Bitcoinâs cyclic price behavior around scheduled halving events, develop a technicalâanalysisâbased active investment strategy tailored to these cycles, and rigorously assess its performance relative to a passive buyâandâhold benchmark. Design/Methodology/Approach: This research employs historical daily BTC /USD price series (June 2012âMay 2025), applies a suite of technical indicators to define systematic, halvingâanchored entry and exit rules, and then conducts rigorous statistical evaluations to test whether Bitcoinâs protocolâdriven supply cycles yield reproducible, actionable investment signals. Findings: Over thirteen overlapping sample windows, the active strategy outperforms passive BTC holding in ten, with positive âalphaâ coefficients that are statistically significant at the conventional 5% level in each of those windows (and, in most cases, with p-values below 2.5%). It captures outsized gains in post-halving bull runs (e.g. 2013, 2017, 2021) and meaningfully limits drawdowns in bear phases (e.g. 2014, 2018, 2022). Equity curve simulations demonstrate compounded account growth that markedly surpasses passive returns. Practical Implications: Crypto asset managers and individual investors can implement the halvingâcentric strategy using readily available charting tools and APIâaccessible price feeds to automate buy/sell signals, thereby enhancing return potential and mitigating drawdowns without requiring deep onâchain analytics expertise. This framework also provides a transparent riskâmanagement overlayâleveraging predefined exit rulesâthat can be calibrated to varying risk tolerances and seamlessly integrated into broader multiâasset portfolios. Originality/Value: This study is among the first to integrate Bitcoinâs protocolâdriven halving schedule with a multiâindicator technical framework and to validate its efficacy through extensive statistical tests over four market cycles (including the 2024 halving). It offers practitioners a replicable, dataâdriven strategy for navigating cryptoâs unique cyclical dynamics.
Non-fungible tokens (NFTs) are blockchain-based digital assets that enable verifiable ownership of unique items, ranging from digital art to virtual real estate. This paper explores the emerging role of NFTs within an innovative vision of the Metaverse, analyzing the potential to reshape asset representation, economic structures, decentralized technologies and the challenges arising from their intersection. In this paper, we analyze the foundational concepts and current research, understand their interconnectedness by going through real-world applications and deployments, and study various case studies in the domain to elucidate the subject. The discussion offers key insights into better digital asset representation, user-driven economies, and new monetization models. Additionally, we examine the critical challenges of scalability, interoperability, and sustainability introduced by these innovations. Notably, this study contributes significantly to explaining the future trajectory of NFT adoption and understanding its implications for digital innovation, social interactions, and economic structures in the Metaverse.
Richard Wiputra, Davis Kelvin, Theo Justin Amantha, Sonya Nadira Gularso
This paper introduces FOMOCheck, an artificial intelligence (AI) agent designed for the early detection of pump-and-dump (P&D) activities in the Solana blockchain ecosystem. The agent integrates CoinGecko market indicators with on-chain token-control features obtained via the Solana API to generate interpretable risk scores and explanations. In a backtesting evaluation involving 30 tokens identified as P&D schemes, FOMOCheck utilized only pre-dump information, achieving a recall of 70.0% and an F1-score of 82.4 % at a risk threshold of 6/10 or higher. A pilot deployment on 20 new token listings demonstrated end-to-end response times under 4.2 seconds (95th percentile), validating its feasibility for real-time triage and monitoring. A qualitative assessment revealed that the system generated transparent, metric-referenced explanations, although it demonstrated sensitivity to âgreen-flagâ cues, such as price-volume alignment. The primary limitations include incomplete data on holder distribution and liquidity locks, as well as the lack of a balanced evaluation set containing non-P&D tokens. Future work will focus on expanding the dataset to include legitimate tokens, integrating streaming data connectors, and deploying a production-ready anomaly scoring API.
This study offers an in-depth examination of the transformative influence of cryptocurrencies on global economic and financial systems, emphasizing their interplay with financial inclusion, regulatory evolution, and decentralized economic frameworks. Employing a mixed methods design that combines quantitative regression modeling with qualitative analysis, the research uncovers new insights into cryptocurrency adoption, particularly within emerging economies and financially marginalized populations. Unlike previous studies that focus primarily on technological or speculative dimensions, this paper critically investigates cryptocurrencies as both catalysts for financial democratization and potential sources of systemic risk. It develops a balanced framework for understanding how decentralized finance (DeFi) can coexist with regulatory oversight, proposing evidence-based policy recommendations that promote innovation while safeguarding market integrity and consumer protection. Empirical findings demonstrate that cryptocurrencies facilitate broader access to financial services due to their decentralized structure and cost-efficient transactions. However, they also expose users to challenges such as extreme price volatility, cybersecurity risks, and inconsistent regulatory environments. Moreover, socio-economic analysis reveals that individuals with prior exposure to cryptocurrencies exhibit more favorable perceptions of their societal and economic impact. The research concludes that sustainable cryptocurrency integration requires adaptive regulatory models, cross-border collaboration, and continuous monitoring of technological evolution. Future studies should expand on longitudinal and comparative analyses to evaluate how evolving governance and education strategies influence adoption and trust. By situating cryptocurrencies within the broader discourse of digital transformation and economic sustainability, this paper contributes to shaping policy and industry practices that support an inclusive, resilient, and transparent financial ecosystem.
The decentralized finance (DeFi) ecosystem is an ecosystem where financial services are provided using decentralized technologies such as blockchain and smart contracts instead of traditional financial intermediaries. While the absence of any intermediary institution, organization, or authority in this ecosystem provides many advantages, it also has significant disadvantages. The most important of these disadvantages is security issues. Since the decentralized finance ecosystem is a digital ecosystem, it faces problems such as hacking attacks and smart contract errors. As a result of these problems, trust in the ecosystem can be undermined. Our study focuses on the topic of insurance activities, which is one of the steps taken to make the ecosystem safer, based on the foundation of trust. Pioneering insurance platforms operating in the decentralized finance ecosystem were examined, and a financial asset insurance transaction was carried out through the selected insurance platform. Some proposals were made regarding the problems, deficiencies, and developments needed in the ecosystem, particularly in terms of insurance, based on the issues encountered during the examination and implementation phases.
Public companies and institutional investors that hold Bitcoin face increasing pressure to show solvency, manage risk, and satisfy regulatory expectations without exposing internal wallet structures or trading strategies. This paper introduces the Treasury Proof Ledger (TPL), a Bitcoin-anchored logging framework for multi-domain Bitcoin treasuries that treats on-chain and off-chain exposures as a conserved state machine with an explicit fee sink. A TPL instance records proof-of-reserves snapshots, proof-of-transit receipts for movements between domains, and policy metadata, and it supports restricted views based on stakeholder permissions. We define an idealised TPL model, represent Bitcoin treasuries as multi-domain exposure vectors, and give deployment-level security notions including exposure soundness, policy completeness, non-equivocation, and privacy-compatible policy views. We then outline how practical, restricted forms of these guarantees can be achieved by combining standard proof-of-reserves and proof-of-transit techniques with hash-based commitments anchored on Bitcoin. The results are existence-type statements: they show which guarantees are achievable once economic and governance assumptions are set, without claiming that any current system already provides them. A stylised corporate-treasury example illustrates how TPL could support responsible transparency policies and future cross-institution checks consistent with Bitcoin's fixed monetary supply.
In Indonesian higher education institutions, traditional methods of managing physical assets, like the semi-digital system, may lead to problems with efficiency, data integrity, and transparency. This study addresses these issues by designing, developing, and evaluating a Proof-of-Concept (PoC) for a decentralized asset management system that uses a private blockchain and a Proof-of-Authority (PoA) consensus mechanism. Using the Design Science Research Methodology (DSRM), a prototype was developed to improve the processes of documenting, monitoring, maintaining, and disposing of assets using smart contracts. Functional testing and User Acceptance Testing (UAT) confirmed the system successfully manages asset administration in an integrated manner that meets user needs. A critical performance test showed that the PoA consensus reached transaction finality faster (8.588 seconds) and at a far lower cost (<$0.01) than a Proof-of-Stake (PoS) testnet (13.548 seconds and ~$1.11, respectively). The findings conclude that the PoA-based blockchain is a more secure, transparent, and efficient solution, making it highly optimal for permissioned systems of higher education asset administration and confirming its adaptability for the digitalization needs of educational institutions.
In a world where economic turbulence and financial inequities are increasingly driven by the shortcomings of fiat currency systems, this paper advances a bold and timely proposition: the integration of gold-backed cryptocurrencies into global net settlement systems through blockchain technology. Bridging the philosophical depth of Islamic economic principles with the technical power of decentralized digital infrastructure, this study outlines a visionary framework that addresses the core weaknesses of inflation, centralization, and systemic risk. Grounded in qualitative research, including expert interviews and content analysis, the paper proposes a decentralized, ethically anchored, and technologically secure model that restores intrinsic value to money. Malaysia is identified as a strategic pioneer in this transformation, leveraging its leadership in Islamic finance and fintech to initiate a paradigm shift in global monetary governance. This work not only challenges existing financial orthodoxy but also provides a blueprint for a more stable, just, and transparent future of international finance.