The purpose of this research is to analyze the long-term and short-term impacts of the use of cryptocurrency and electronic money on the money supply (M2) in Indonesia, as well as to analyze the long-term and short-term impacts of the use of cryptocurrency and electronic money on monetary stability (exchange rates) in Indonesia. The research method used is quantitative descriptive analysis with the Vector Error Correction Model (VECM) using the Eviews application and secondary data in the form of monthly data from 2011 to 2023 obtained from the official websites of Bank Indonesia and Finance. This study utilizes data on cryptocurrency transaction values and electronic money transaction values in Indonesia by analyzing the VECM model, which can observe the long-term and short-term impacts of the use of digital money on the money supply and monetary stability, in this case, viewed through the Indonesian exchange rate. The research results indicate that there is a one-way causality between electronic money and cryptocurrency, but not the other way around, and there is a one-way causality between the money supply and cryptocurrency, with the money supply as the dependent variable influencing cryptocurrency. The results of the VECM estimation indicate that in the long term, electronic money has a negative and sifnificant impact on the money supply. Meanwhile, the short-term estimation shows that both cryptocurrency and electronic money significantly influence the money supply, but their effects are dynamic and vary based on different lags. The long-term estimation with the exchange rate as the dependent variable shows that cryptocurrency does not have a significant impact on the exchange rate, while in the short term, both cryptocurrency and electronic money have a negative and significant effect on the exchange rate.
The exponential growth in digital healthcare infrastructure has resulted in an overwhelming increase in sensitive medical data generation. However, traditional centralized Electronic Medical Records (EMR) systems continue to face critical security and privacy challenges. These include single points of failure, limited interoperability, data tampering, and unauthorized access. This paper introduces a robust and scalable blockchain-based framework for secure EMR management. Leveraging Ethereum blockchain, IPFS decentralized storage, and smart contracts, the framework ensures tamper-proof data logging and fine-grained access control. The system stores encrypted patient health records on IPFS and logs the corresponding content identifier (CID) on the Ethereum blockchain, eliminating the risk of data exposure. The architecture is designed for future compatibility with Mobile Edge Computing (MEC), allowing for faster data processing closer to the point of care. By offering immutable audit trails, decentralized access governance, and high availability, the proposed framework ensures transparency, security, and data ownership for all healthcare stakeholders.
A decentralized crowdfunding system using Ethereum blockchain technology is proposed to resolve problems within traditional crowdfunding portals, such as a lack of transparency, high dependence on intermediaries, and poor supervision from donors. The proposed system is capable of automating refund mechanisms as well as milestone-based fund disbursements while maintaining transparent transaction logs through the use Solidity-based smart contract. Unlike the traditional models where funds are kept and controlled by custodians and managed by third parties, this system enables participants to control the release of funds based on completion of predefined project stages. The system was implemented using Solidity, React.js, Node.js, and deployed on Sepolia Ethereum Testnet. Etherscan was used for transaction validation, and MetaMask for user wallet interactions, enabling successful campaign creation, secure contribution submission, and decentralized fund flow. Limitations include logic flaws in post-deadline countdown timers and a focus on a single tokens type. Potential enhancements include automated refunds for failed campaigns, fiat currency on-ramps, and fund control via DAO voting. The proposed framework focuses on solving practicality, security, and efficiency issues in existing crowdfunding models using blockchain technology.
This study explores the sustainability-enhancin g financial effects of blockchain on carbon-linked digital markets. Drawing on a panel dataset of daily transactions from leading tokenized carbon platforms between 2020 and 2023, the study applies a fixed-effects Difference-in-Differences (DiD) framework to assess how the introduction of blockchain-based infrastructure influences carbon asset prices and trading volumes. Our findings reveal that higher transaction costs, often viewed negatively, may actually signal trusted infrastructure in illiquid sustainability markets, boosting investor confidence. The results confirm that blockchain adoption improves pricing efficiency under specific liquidity conditions, while exhibiting limited short-term effects on volume. It offers new evidence on how blockchain can strengthen carbon markets; reduce transactional inefficiencies, and advance climate action and sustainable development goals (SDGs). These insights inform policymakers, regulators, and investors aiming to design resilient, efficient, and scalable digital carbon markets.
Sure Mamatha, Laxmiprasanna Ambati, P. Vishala, Mamatha Gadde
Blockfund leverages blockchain technology to make philanthropy more accountable and transparent in a world where people’s faith in it is called into question. Trust, integrity, and data security are the three main concerns for this generation of service providers. We see blockchain technology being used to secure gifts and inventions in the future. Prior to the introduction of blockchain, the financial system faced numerous difficulties. There are concerns over their impact because they are sometimes imperceptible and unseen. Security issues have also been brought up because cryptocurrencies alter numerous financial institutions, and data transfer techniques in blockchain deployments are subject to fraud and abuse. For safe financial transactions, it makes use of an interface and a cryptocurrency wallet similar to MetaMask. All transactions become straightforward, safe, and transparent as a result. Through astute communication, transparency is increased by automating the distribution of money according to predetermined standards. Donors will be able to trace their contributions and observe the results of their kindness thanks to BlockFund’s comprehensive donation reporting. The establishment of this Intelligent Alliance is an example of global philanthropy for successful change and societal advancement. Major Findings: BlockFund transforms crowdfunding through blockchain, ensuring transparency and security via Ethereum smart contracts that automate payments and remove intermediaries. By integrating MetaMask and leveraging AI/IoT, it enables global, tamper-proof donations while reducing costs and enhancing donor trust through real-time tracking and decentralized governance.
Francisco von Hafe, Yash Wagle, Federico Guede-Fernández, Ana Paula Giordano · 6 authors
Introduction The decentralised nature of blockchain technology challenges traditional legal frameworks, creating regulatory gaps in asset classification, taxation, and consumer protection. In Europe, divergent approaches, from specialised blockchain laws to adaptations of general financial legislation, hinder cross-border deployment and limit blockchain’s potential. These disparities make compliance difficult for firms and increase the risks for consumers. This study compares blockchain regulations across six European geographies: Switzerland, Liechtenstein, and Malta (blockchain-specialised regulators) versus the European Union (EU), Estonia, and Portugal (generalist regulators) to map key divergences in legal maturity, asset classification, taxation, anti-money laundering/know-your-customer enforcement, and supervisory structures. A secondary objective is to evaluate how these differences impact the scalability of innovation. Methods This study compares blockchain regulations across six European jurisdictions through a three-phase analysis. The scoping phase identified five regulatory themes and selected geographies based on maturity, innovation, and economic specialisation. Primary legal texts and policy data (2020–2025) were analysed to map convergences and divergences between blockchain-specialised and generalist regulators. Results The comparison reveals differences: blockchain-specialised geographies have dedicated Distributed Ledger Technology laws, centralised oversight, and crypto-friendly tax regimes; for example, Switzerland exempts private capital gains, and Malta offers Value Added Tax exemptions. In contrast, generalist regulators, such as the EU’s Markets in Crypto-Assets Regulation (MiCA), which theoretically harmonise rules, face inconsistent enforcement across member states. Meanwhile, Portugal’s tax exemptions and Estonia’s rigid capital requirements create opposing market incentives. Only Liechtenstein’s Blockchain Act comprehensively regulates Decentralised Finance, whereas other geographies either adapt existing financial regulations or do not regulate it. NFTs face fragmented treatment, are excluded under MiCA, classified as securities in Estonia, and left to case-by-case analysis in Switzerland, which contributes to market uncertainty. Discussion This study reveals a tension in blockchain governance: specialised geographies demonstrate that comprehensive, tailored frameworks foster mature ecosystems. Conversely, generalist approaches struggle with fragmentation, as seen in MiCA’s uneven enforcement and Estonia’s restrictive licensing. Yet, regulatory ambiguity carries paradoxical benefits; Portugal’s minimal rules and the EU’s transitional gaps have also fueled competitive innovation. For policymakers, these results underscore the importance of striking a balance between oversight and flexibility to foster and scale up innovation.
<ns3:p>The emergence of Web 3.0 and the Metaverse marks a transformative shift in the evolution of the internet and digital ecosystems. This paper explores the foundational principles of decentralization, user autonomy, and data transparency that underpin Web 3.0 technologies, including blockchain, smart contracts, and digital wallets. We analyze how these innovations are reshaping business models, enabling new forms of value creation, and redefining digital ownership and governance. In parallel, we examine the Metaverse as a virtual, immersive environment integrating Web 3.0 infrastructure, and its potential to revolutionize sectors such as logistics, education, finance, and data management. The study also highlights the critical role of a holistic framework encompassing technological, economic, and legal pillars. A special focus is given to data provenance, privacy-preserving computation, and the need for coherent regulatory strategies in light of GDPR, the AI Act, and the Data Act (European Parliament, 2016; European Parliament, 2023; European Parliament, 2024). Finally, we identify emerging challenges related to NFT authenticity, system sustainability, and user experience, proposing a multidisciplinary and lean governance approach to guide future developments.</ns3:p>
This paper presents a systematic literature review on Decentralized Finance (DeFi), examining its key components, implementation challenges, and benefits to the financial sector. Using Kitchenham’s guidelines and the PRISMA framework, relevant studies from 2021 to 2025 were analyzed. Findings show that DeFi systems are built on smart contracts, decentralized exchanges, lending platforms, and stablecoin mechanisms. These enable open, programmable, and intermediary-free financial services. However, DeFi adoption faces issues such as security risks, scalability, high cost, market quality, centralization, uncertainty regulation, and complexity. Despite these challenges, DeFi offers potential advantages including greater transparency, improve efficiency and services and enhanced financial inclusion. Overall, this comprehensive review serves as a valuable resource for researchers, practitioners, and organizations seeking to understand the evolving DeFi landscape, address existing limitations, and make informed decisions regarding its adoption and development.
Decentralized Autonomous Organizations (DAOs) represent a new form of economic organization, leveraging smart contracts and blockchain technology to manage financial operations, governance, and decision-making. This structure eliminates the need for centralized intermediaries. From an accounting and economic perspective, this article investigates DAOs, offering a comprehensive examination of their architecture, voting methods, governance procedures, smart contract vulnerabilities, and the legal environment. The article proposes a five-tiered DAO structure, demonstrating how each layer contributes to operational efficiency, transparency, and decentralized responsibility. The study emphasizes the importance of smart contract auditing tools in ensuring reliable financial transactions. According to the data presented in the study, applying traditional accounting principles to token-based transactions, decentralized decision systems, and DAO treasuries poses significant challenges such as token valuation, revenue recognition, and the absence of standardized reporting formats. The study explains how DAOs act as economic coordinators, using real-world case studies such as MakerDAO, Gitcoin DAO, and Uniswap DAO. Additionally, the research highlights the issues DAOs face regarding valuation and compliance. This article concludes with a policy-focused examination of regulatory gaps and offers suggestions for future research directions in the areas of financial integration, legal categorization, and the sustainability of DAOs. Through the integration of institutional and economic theory with the technical structure of DAOs, this research advances our understanding of DAOs as novel forms of finance and governance.
Mandeep Kaur, Usharani J Vandana Rastogi, Alim Al Ayub Ahmed Divya N
Blockchain is gradually finding its way into the financial industry and seems to be a potential solution to traditional banking problems. Specifically, through real-time transactions, increasing the level of openness and reducing the costs of work, blockchain can revolutionize the financial market worldwide. This empirical study aims at exploring the disruptive nature of blockchain with reference to cross border payments, smart contracts and fraud. This research employs secondary research techniques together with critical models like Distributed Ledger Analysis and Cost-Benefit Analysis to establish the efficiency and possibilities of the blockchain than the conventional systems. The results reveal that even though blockchain has certain benefits in terms of efficiency and decentralisation, such issues as the system’s capacity, its power consumption, and legal ambiguity exist. For future research, the current study’s limitations should be considered while future studies should also look at the effects of the technology beyond the current advanced economies and emerging economies.
Decentralized digital transactions, such as those occurring via blockchain-enabled platforms and AI-driven systems, are rapidly transforming financial and commercial ecosystems. However, user participation is often constrained by concerns over fraud and a lack of trust. This study develops and empirically tests a structural equation modeling (SEM) framework that investigates how perceived blockchain transparency and perceived AI competence and transparency shape trust in platforms, perceived fraud risk, and users' transaction intentions. Grounded in trust-risk theory, socio-technical systems theory, and technology acceptance models, the framework incorporates five core constructs. Data collected from 412 active users of decentralized platforms were analyzed using SEM to validate the hypothesized relationships. Findings reveal that perceived blockchain transparency and AI competence significantly enhance trust while simultaneously reducing perceived fraud risk. Moreover, trust in the platform positively influences transaction intention, whereas perceived fraud risk has a negative impact on both trust and intention. The study contributes to the literature on digital trust and decentralized finance by integrating socio-technical factors. Practical implications are offered for platform designers and policymakers seeking to build trustworthy and fraud-resilient systems using blockchain and AI technologies.
Abstract The advent of blockchain technology has achieved notable progress regarding security, particularly within the realm of e-commerce. The existing Web 2.0 framework, which employs inadequate security measures, exhibits vulnerabilities when compared to the robust security features of blockchain technology. The utilization of monitors, computers, and data storage exemplifies the functionality of blockchain technology, which upholds encrypted and distributed transaction records across multiple computers, consequently improving the reliability of the digital ledger. In a nation such as Bangladesh, where transaction data is susceptible to cyber threats and online fraud is prevalent within the e-commerce sector, this type of decentralized system has the potential to alter the landscape significantly. This requires the implementation of a more comprehensive security protocol. This research advocates for the adoption of smart contracts to enhance supply chain transparency and offers digital identification solutions aimed at preventing fraud, including issues related to non-delivery and counterfeit goods. This research utilizes Next.js for front-end development and facilitates backend integration through Solidity and Hardhat.js, specifically for the Solana Blockchain, deployed on an Amazon EC2 instance. This research commenced with an examination of the current e-commerce ecosystem, physical identification infrastructure, and consumer attitudes, ultimately presenting a strategic implementation plan for the adoption of blockchain technology to enhance trust and assurance within the e-commerce landscape of Bangladesh. It further delineates particular obstacles to adoption: technological limitations, regulatory challenges, socio-economic factors, and the expanding digital payments landscape, particularly concerning mobile financial services. This research enhances the current understanding of blockchain as a transformative force in emerging e-commerce markets and provides valuable insights into technology policies relevant to the developing economy of Bangladesh for policymakers, businesses, and technologists. Graphical abstract
This paper explores the evolution of financial technology (fintech) from early digital banking to today’s AI-driven, blockchain-enabled financial ecosystems. It examines how fintech has disrupted traditional banking models by enhancing efficiency, inclusion, and transparency. Through global case studies and emerging market insights, the research highlights innovations in mobile payments, robo-advisors, decentralized finance (DeFi), and regulatory responses like sandboxes and open banking. It also discusses cybersecurity, ethical risks, and the role of AI and quantum computing in shaping fintech’s future. The study argues for a balanced approach combining innovation, regulation, and ethics to ensure sustainable financial transformation.
Stablecoins have become a foundational component of the digital asset ecosystem, with their market capitalization exceeding 230 billion USD as of May 2025. As fiat-referenced and programmable assets, stablecoins provide low-latency, globally interoperable infrastructure for payments, decentralized finance, DeFi, and tokenized commerce. Their accelerated adoption has prompted extensive regulatory engagement, exemplified by the European Union's Markets in Crypto-assets Regulation, MiCA, the US Guiding and Establishing National Innovation for US Stablecoins Act, GENIUS Act, and Hong Kong's Stablecoins Bill. Despite this momentum, academic research remains fragmented across economics, law, and computer science, lacking a unified framework for design, evaluation, and application. This study addresses that gap through a multi-method research design. First, it synthesizes cross-disciplinary literature to construct a taxonomy of stablecoin systems based on custodial structure, stabilization mechanism, and governance. Second, it develops a performance evaluation framework tailored to diverse stakeholder needs, supported by an open-source benchmarking pipeline to ensure transparency and reproducibility. Third, a case study on Real World Asset tokenization illustrates how stablecoins operate as programmable monetary infrastructure in cross-border digital systems. By integrating conceptual theory with empirical tools, the paper contributes: a unified taxonomy for stablecoin design; a stakeholder-oriented performance evaluation framework; an empirical case linking stablecoins to sectoral transformation; and reproducible methods and datasets to inform future research. These contributions support the development of trusted, inclusive, and transparent digital monetary infrastructure.
Annes Maria Pangidoan, Putu Wira Buana, Fajar Purnama
Data, including digital and physical documents, is a valuable asset often vulnerable to forgery, theft, and reliance on centralized servers, which are costly and prone to failure. This study develops a prototype of a decentralized document storage application by combining blockchain and the InterPlanetary File System (IPFS). The system is designed as a web-based decentralized application (DApp), integrating Ethereum smart contracts to immutably record document metadata and access history, while the actual files are stored in IPFS and identified using unique Content Identifiers (CIDs). User interactions are facilitated through MetaMask for authentication and transaction approval. The system is developed using the Waterfall methodology. Functional testing is conducted through unit tests using Ganache as a local Ethereum blockchain, and the smart contract is also deployed to the Sepolia Ethereum testnet. The results show that the system successfully stores documents via IPFS and records metadata and access activities transparently on the blockchain. Access and download tracking features enhance document accountability. This solution provides a secure, efficient, and transparent alternative to centralized document storage and contributes to the advancement of distributed digital archiving systems.
Anak Agung Lingga Pratyaksa Nugraha, Ni Wayan Emmy Rosiana Dewi, Fajar Purnama
The development of the entertainment industry, especially music concerts, has driven the transformation of ticket sales systems from conventional to digital methods. Although online concert ticket sales offer greater convenience and reach, they still face the risks of fraud, counterfeit tickets, and unfair distribution. This study, Blockchain Smart Contract Implementation for NFT-Based Online Music Concert Ticket Transactions, aims to develop a ticket sales system using blockchain technology by integrating smart contracts and Non-Fungible Tokens (NFTs). The main objectives are to design and implement smart contracts on the Ethereum network, implement ERC-721-based digital tickets, ensure transparency in transaction history, and verify ticket authenticity through unique identifiers. This study adopts the Agile method, with implementation on the Ethereum Sepolia Testnet and testing using the meta mask digital wallet. The results show that the developed system can automatically hold funds through an escrow mechanism until the ticket is downloaded, generate unique and tamper-proof NFT tickets, display transaction details transparently, and facilitate ticket verification effectively. In conclusion, the use of smart contracts and NFTs significantly improves the security, transparency, and trustworthiness of online music concert ticket transactions.
In an increasingly globalized financial ecosystem, cross-border payment systems continue to face persistent challenges, including high transaction costs, settlement delays, regulatory fragmentation, and exposure to counterparty risk. Traditional banking infrastructures, reliant on correspondent banking networks, are often opaque, inefficient, and vulnerable to compliance breaches and fraud. This study investigates the application of blockchain-based smart contracts as a transformative solution to these longstanding inefficiencies in international finance. From a macro perspective, blockchain’s distributed ledger architecture offers enhanced transparency, immutability, and consensus-driven validation, presenting a robust framework for automating and securing cross-border settlements. The research evaluates the operational mechanisms of smart contracts self-executing code embedded within blockchain protocols that facilitate real-time, trustless transaction execution and regulatory rule enforcement across jurisdictions. A key focus is the integration of Know Your Customer (KYC), Anti-Money Laundering (AML), and Central Bank Digital Currency (CBDC) compliance checks within programmable contracts to ensure legal adherence while reducing operational bottlenecks. The study also explores case applications by global fintech firms and intergovernmental consortia experimenting with blockchain for real-time gross settlement (RTGS), payment-versus-payment (PvP), and delivery-versus-payment (DvP) models. Findings indicate that blockchain-based smart contracts significantly lower cross-border transaction costs, reduce settlement times from days to minutes, and enhance auditability for regulators. However, interoperability, legal recognition, and jurisdictional variance in digital asset treatment remain unresolved obstacles. The paper concludes by proposing a hybrid governance framework combining decentralized architecture with regulatory oversight, enabling secure, compliant, and frictionless global payment infrastructure.
This paper explores the transformative impact of blockchain technology and smart contracts on the dynamics of trust within the financial sector. Trust is a cornerstone of financial transactions, traditionally established through centralized intermediaries and legal frameworks. However, the advent of blockchain technology introduces a decentralized, transparent, and tamper-resistant trust mechanism. This study aims to analyze how blockchain and smart contracts redefine financial trust by eliminating reliance on third-party intermediaries and automating trust through programmable agreements. Utilizing a mixed-methods approach, including case studies such as JP Morgan’s Quorum blockchain platform, we examine the practical applications of these technologies and their effects on transactional efficiency, data privacy, and trust realization. Key findings reveal that blockchain significantly reduces transaction costs, enhances transparency, and increases security, paving the way for innovative financial products and services. The paper contributes to the understanding of how decentralized technologies are reshaping the future of financial trust and offers insights for regulators and financial institutions navigating this technological shift.
With the growing demand for blockchain technology, the deployment of various applications has highlighted the critical chal- lenge of balancing scalability, security, and decentralization—termed the blockchain trilemma. To ensure blockchain’s effectiveness in real-world scenarios, resolving this trilemma with minimal trade-offs is crucial. Despite recent advancements, existing solutions, including Filecoin’s decentralized storage, have not fully addressed these challenges. While Filecoin reduces on-chain data re- dundancy through cryptographic proofs (PoRep/PoSt), its throughput remains insufficient (< 50 TPS) and vulnerable to adversarial attacks like selfish mining. In this study, we propose a novel Filecoin-based architecture that tackles the trilemma by reducing trans- action size to 50.6 bytes via Data Identification Numbers (DINs), achieving 145 TPS (a 20 × improvement over baseline Filecoin) with 1 MB blocks while maintaining 80% chain quality under 45% adversarial influence. Our approach enhances decentralization by minimizing storage requirements (292 bytes per reference block) and lowering hardware demands for mining nodes ($500/n- ode). Cost-efficiency analysis demonstrates a 99.9% reduction in energy consumption (0.001 kWh/Tx) compared to Bitcoin’s PoW (1,200 kWh/Tx) and a 3,448 × improvement in storage efficiency over baseline Filecoin. Security is preserved through PoRep/PoSt optimizations, resisting double-spending and Sybil attacks. Theoretical and empirical evaluations, including adversarial simulations and comparisons with Bitcoin, Ethereum, and Filecoin, validate unprecedented scalability-security-decentralization trade-offs. This work sets a new benchmark for blockchain systems, enabling decentralized applications to rival centralized systems in throughput, cost, and robustness.
This research investigates the effect of social media sentiment on the cryptocurrency market, particularly focusing on Bitcoin and Ethereum. Using TensorFlow as a machine learning tool, we developed a sentiment index from 66,582 Reddit posts about Bitcoin and 23,231 about Ethereum, collected in 2022. The sentiment scores, ranging from -1 (negative) to 1 (positive), were categorized into positive, neutral, and negative classes and analyzed alongside daily return and volatility metrics for both cryptocurrencies using a Vector Autoregression (VAR) model. Our study identifies significant impacts of social media sentiment on cryptocurrency markets. Specifically, Bitcoin’s returns show a heightened sensitivity to negative sentiment, whereas Ethereum’s returns remain unaffected by any sentiment type. However, the volatility of both cryptocurrencies is affected by neutral sentiment. These findings highlight distinct behavioral patterns across cryptocurrencies and uncover a bidirectional relationship between market dynamics and social media sentiment. This study offers novel insights into how public perception influences digital asset markets, thereby contributing to the behavioral finance literature and providing practical implications for investors and policymakers.
Tokenization of real-world assets (RWA) is reshaping capital-markets infrastructure by embedding traditionally illiquid instruments—ranging from private-equity stakes to commercial real estate—within programmable digital tokens on distributed-ledger networks. This paper investigates three interlocking dimensions of this transformation. First, it dissects the legal and operational challenges that arise as asset rights migrate from paper certificates to cryptographically secured ledgers, highlighting jurisdictional uncertainty, fragmented custody rules, and the need for harmonized disclosure standards. Second, it evaluates emerging smart-contract governance models—including multi-signature escrow, on-chain compliance oracles, and upgradeable proxy contracts—and assesses their effectiveness in enforcing regulatory constraints, mitigating counter-party risk, and sustaining asset-life-cycle events such as corporate actions or rental-income distributions. Third, it analyzes the democratizing potential of tokenization, demonstrating how fractional ownership and 24/7 secondary liquidity can lower minimum investment thresholds, widen geographic reach, and broaden participation beyond accredited investors, while also outlining the attendant risks of market fragmentation and algorithmic discrimination. Using a mixed-methods approach that couples comparative legal analysis with event-study evidence from pilot tokenized-asset offerings, the paper offers a governance framework that balances innovation incentives with systemic-risk safeguards. The findings contribute to policy debates on digital-asset regulation, inform institutional-design choices for custodians and exchanges, and chart a research agenda for measuring tokenization’s long-run impact on market efficiency, financial inclusion, and asset-pricing dynamics.
Blockchain technology has become an essential tool for enhancing reliability and security across several industries, including the healthcare sector. In this work, we propose and implement an Ethereum-based blockchain framework to decentralize electronic health records (EHRs) at Tumakuru Siddaganga Hospital. The system establishes an append-only chain of transaction blocks that guarantees the confidentiality, auditability, and integrity of patient health records. By design, only authorized healthcare professionals can access patient data, and even then, only with the patient’s explicit consent—ensuring a privacy-preserving access model. Our approach demonstrated a 40% reduction in data access delays and eliminated unauthorized access attempts through smart contract-based access control. The decentralized nature of the framework reduces reliance on centralized databases, significantly lowering the risk of data tampering and breaches. Additionally, the implemented consensus protocol ensures that only verified transactions are recorded, maintaining consistency across distributed nodes. Compared to traditional systems, our blockchain-based solution improved the traceability of health data access events by 100%, ensuring transparency and accountability. These findings validate that blockchain technology can substantially enhance data sharing, integrity, and patient control in modern healthcare systems.
Blockchain technology has become a major focus in data security and reliability. A foundation for innovations such as non-fungible token (NFT), which opens up new opportunities in managing ownership of digital assets. We investigate NFTs in the form of voice, which is digital audio communication. During the COVID-19 pandemic, podcasts have been rampant, creating new business opportunities in digital media such as NFTs, which have explored and evolved in various markets; voice content has gained significant space in sales, promotion, and dissemination/innovation. This research presents a comprehensive analysis of NFTs from 2019 to 2022, focusing on the variable association consisting of the NFT category, the price of each of those NFT categories, NFT editions, and NFT marketplace. We used structural equation modeling (SEM) to clarify the relationship in partial least squares structural equation modeling (PLS-SEM). This study’s findings suggest that music enthusiasts seek NFTs based on the NFT category. Therefore, it is crucial for NFT creators, who are musicians too, to exercise caution when choosing the NFT category that is most popular among music enthusiasts. We suggest that the musicians creating NFTs should consider establishing appealing NFT categories to attract music fans and other collectors.