Tarek Galal, Valeria Tisch, Katja Assaf, Andreas Polze
Railways provide a critical service and operate under strict regulatory frameworks for implementing changes or upgrades. Despite their impact on the public, these frameworks do not define means or mechanisms for transparency towards the public, leading to reduced trust and complex tracking processes. We analyse the German guideline for railway-infrastructural modifications from proposal to approval, using the guideline as a motivating example for modelling decisions in processes using digital signatures and zero-knowledge proofs. Therein, a verifier can verify that a process was executed correctly by the involved parties and according to specification without learning confidential information such as trade secrets or identities of the participants. We validate our system by applying it to the railway process, demonstrating how it realises various rules, and we evaluate its scalability with increased process complexities. Our solution is not railway-specific but also applicable to other contexts, helping leverage zero-knowledge proofs for public transparency and trust.
This study explores the transformative potential of Iskargul, an innovative platform that revolutionizes agricultural trade through blockchain integration. It provides a comprehensive analysis of Iskargul, including user interface design principles, the detailed implementation of blockchain technology, transparency, smart contracts, user feedback, and a comparison with traditional systems. The user-centric design principles of Iskargul ensure an inclusive and functional interface for both farmers and consumers. The integration of blockchain technology is systematic, focusing on security, scalability, and efficiency. The findings show that Iskargul effectively addresses transparency and traceability issues by recording and tracking the entire journey of products, thereby fostering trust in the supply chain. Smart contracts automate transactions, resulting in high user satisfaction. Despite positive feedback, the study identifies adoption challenges, particularly related to the blockchain learning curve. In comparison with traditional systems, Iskargul excels in efficiency, cost-effectiveness, and user satisfaction, highlighting the transformative potential of blockchain in optimizing the agricultural supply chain. This study offers valuable insights into agricultural trade and blockchain technology, emphasizing the feasibility of blockchain-powered platforms in reshaping traditional practices. While adoption challenges exist, the positive outcomes suggest that blockchain can revolutionize agricultural trade, creating a more efficient, transparent, and secure ecosystem.
Decentralized Finance (DeFi), powered by blockchain technology and smart contracts, has revolutionized the financial sector by enabling open, permissionless, and transparent financial services. This study conducts a comprehensive bibliometric analysis of DeFi research, exploring key trends, significant contributions, and thematic advancements. By examining research documents from the Scopus and Web of Science databases spanning 2000 to 2024, this study traces the evolution of DeFi, identifying influential scholarly works and shifting research paradigms. In addition to mapping the intellectual landscape of DeFi, this research provides critical insights into emerging directions and industry applications, contributing to a deeper understanding of its growth, challenges, and future potential within the blockchain-driven financial ecosystem.
Blockchain and smart contracts have emerged as revolutionary technologies transforming distributed computing. While platform evolution and smart contracts' inherent immutability necessitate migrations both across and within chains, migrating the vast amounts of critical data in these contracts while maintaining data integrity and minimizing operational disruption presents a significant challenge. To address these challenges, we present SmartShift, a framework that enables secure and efficient smart contract migrations through intelligent state partitioning and progressive function activation, preserving operational continuity during transitions. Our comprehensive evaluation demonstrates that SmartShift significantly reduces migration downtime while ensuring robust security, establishing a foundation for efficient and secure smart contract migration systems.
Traditional crowdfunding platforms often face challenges like lack of trust, transparency, security, and risks of fraud. To address these limitations, there is a need for a decentralized and secure system. In this paper, we propose a blockchain-based crowdfunding framework aimed to improve trust, security, and efficiency in fundraising for businesses. The framework uses smart contract written in Solidity to automate processes of campaign creation, contribution and fund allocation. The architecture is designed in multiple layers that uses tools like MetaMask for secure user interaction, and Ganache for local testing, back-end layer for API management, and security layer with multi-signature wallets, and smart contract protection to safeguard user funds. We followed a phased approach, starting with front-end design, blockchain integration, and testing before deploying to the Ethereum MainNet. This framework has decentralized fund management and enhanced security measures to address the limitations of traditional crowdfunding systems. It provides a platform where project creator can directly interact with investors. This system has a built-in mechanism for approving funding request through a voting system. This study presents a detailed technical architecture and implementation strategy. It also explores the potential of blockchain technology in strengthening trust, increasing accountability and decentralizing financial system.
In this paper, we examine the discourses and ideologies that underpin trust in Bitcoin (BTC) as an algorithm-driven socio-technical system, raising critical questions about how trust is established and sustained in complex socio-technical assemblages. Through a Critical Discourse Analysis (CDA) of three significant events in the cryptocurrency, we identify two interconnected, yet sometimes contradictory, ideologies enacted through four discourses that construct specific subject positions to produce and maintain trust in Bitcoin. The first, technical sovereignty , reflects adherence to notions of technical utopianism. The second, which we term peer-to-peer neoliberalism , frames BTC as a political experiment rooted in the individualization of responsibility and risk. Our paper contributes to the existing literature by arguing that algorithm-driven technologies like BTC neither establish trust solely through their apparent technical neutrality and security nor simply replace traditional institutional mechanisms of governance, control, and interaction. Instead, they are enacted through discourses and material arrangements that require continuous maintenance. This maintenance relies on power relations enabled by these ideologies yet remains contingent upon the ongoing reinforcement of the ideologies themselves—rendering trust inherently precarious and always at risk. This insight shifts the analytical focus from the dominant emphasis in the literature on technical features, social arrangements, and user perceptions to the underlying ideological frameworks that shape these elements, as such. • We propose an alternative ideological perspective on trust in algorithms. • The methodology is based on critical discourse analysis. • There cannot be trust without the productive force of ideology shaping and maintaining trust. • We identify two ideologies of technical sovereignty and peer-to-peer neoliberalism.
Anuj J. Ghom, Atharv N. Phuse, Harish S. Chopade, Mahesh A. Ghongade · 5 authors
Crowdfunding has emerged as a vital mechanism for raising funds, enabling startups, social causes, and creative projects to receive financial support from a broad audience.However, traditional crowdfunding platforms face challenges such as high transaction fees, lack of transparency, centralized control, and risks of fraud or fund mismanagement.To address these issues, we propose a Blockchain-Based Decentralized Crowdfunding Platform that leverages blockchain technology and smart contracts to enhance security, transparency, and trust in fundraising.By eliminating intermediaries, the system facilitates direct peer-to-peer transactions, ensuring immutability and automated fund distribution based on predefined conditions.This implementation utilizes the Ethereum blockchain to create an environment where fundraisers and backers can interact securely.The paper details the system architecture, smart contract design, security considerations, and a comparative analysis with traditional crowdfunding models.The results demonstrate improved transparency, reduced operational costs, and enhanced trust in the crowdfunding ecosystem.
This paper explores the emerging virtual economy with a specific focus on virtual goods and non-fungible tokens (NFTs), examining their unique market dynamics, social relevance, and factors influencing their valuation. The work delves into the role of social dynamics, user engagement, and speculative investments in determining the prices of virtual goods, while also addressing the speculative risks inherent in this digital marketplace. Through case studies like the Bored Ape Yacht Club (BAYC), stakeholders highlight how exclusivity, celebrity endorsements, and active community participation shape the perceived value of NFTs. This research aims to provide a comprehensive understanding of the value drivers in the NFT market and offer strategies for stakeholders to navigate volatility and achieve long-term success in the digital asset ecosystem.
In digital freelancing, businesses and organizations employ potential staff members under contract to complete certain tasks. Most current systems for freelancing are centralized. They are put into practice using client-server centralized systems. High fees for freelancers and their clients, unfair treatment of user accounts, inequity between clients and freelancers, payment delays, and weakened trust between clients and freelancers as a result of third-party platforms are some of the problems that arise from the use of centralized freelancing structures. In this project, we suggest a decentralized freelance system built on the blockchain. A decentralized freelance system is one in which the communication between independent contractors and their clients is not managed by a single platform. Our decentralized system is an Ethereum-based internet marketplace. Through smart contracts, it provides an innovative means for clients and independent contractors to communicate and collaborate. This study outlines the developed freelance system and illustrates its features, including job posting, bidding, employing freelancers, work completion, and project submission to clients. Since smart contracts provide money to freelancers as soon as the project is completed, there won't be any delays in payment distribution. Since no third-party platforms are involved that hamper any interactions between clients and freelancers, our method guarantees fairness and affordable transaction fees.
ABSTRACT Blockchain technology, when combined with smart contracts, enables buyers to distinguish between greenwashed and genuinely eco‐friendly products. The presence of counterfeit items can severely impact supply chains by diminishing brand value, eroding consumer confidence, and undermining market trust. This article explores how smart contracts can help mitigate the circulation of counterfeit goods and safeguard brands by establishing institutional trust through tamper‐proof data, enhanced transparency, and improved traceability. Information asymmetry on digital marketing platforms significantly contributes to the proliferation of greenwashed counterfeit goods. We introduce an infection‐leakage model based on anecdotal case evidence to explain the interactions between different market types. The transition from relying solely on traditional written contracts, certifications, and brands to incorporating blockchain and smart contract technology is analyzed for its potential to strengthen supply chains and curtail the spread of counterfeit greenwashed products. Blockchain technology provides consumers with detailed product information, empowering them to choose authentic green products over counterfeit “lemons.” Our theoretical framework suggests that this shift to blockchain smart contracts can reduce the transaction costs associated with counterfeit infiltration, thereby protecting brands and the intellectual property rights of authentic sustainable products.
In the context of the deep integration of rural revitalization strategy and digital technology, the digital transformation of rural tourism faces threefold dilemmas of efficiency, trust, and cultural preservation. This paper, taking blockchain technology as a starting point, systematically explores the internal logic and practical paths of its empowerment in rural tourism, aiming to construct a "technology-scenario-governance" collaborative framework to resolve structural contradictions in industrial development. The study is based on the Social-Technical Systems Theory (SST), adopting interdisciplinary research methods, and uses typical cases to demonstrate how blockchain technology drives high-quality development in rural tourism by reconstructing production relations. The study finds that blockchain technology, through mechanisms of "trusted data flow" and "autonomous smart contracts," reshapes the power structure, value transfer, and governance models in rural tourism. Its distributed ledger feature solves issues such as data islands and the loss of trust in stakeholders, while its DAO governance and Token economic models activate villagers' participation. The paper also proposes four-dimensional application scenarios covering trusted service chains, value co-creation chains, green governance chains, and inclusive finance chains, achieving the reconstruction of consumption scenarios, cultural IP development, ecological supervision optimization, and investment and financing innovation through technological integration. Furthermore, the paper warns of three major challenges for the technology’s implementation: the gap between computing power and rural infrastructure, the institutional coupling difficulties between on-chain and off-chain systems, and the conflict between technological rationality and rural ethics. It proposes a "lightweight blockchain + edge computing" technical solution and designs a "multi-party chain governance committee" system to balance the rights and responsibilities of government, enterprises, and villagers, incorporating "ethical coding" into the design of technology to embed rural culture. Future research should focus on the integration of the metaverse, AI, and blockchain technologies, enhancing service personalization while preventing cultural alienation risks, thus providing solutions for rural common prosperity that combine technological innovation with the protection of cultural roots.
R.P. Kumudini Devi, M. Martina Jose Mary, P. Kanimozhi, R. Dharniga · 5 authors
The ever-expanding problem of electronic waste recycling necessitates a robust approach involving blockchain technology to ensure transparency and accountability in the lifecycle management of e-waste. Existing centralized systems fall short in terms of providing essential attributes such as transparent data, immutability, and security, hindering the effective monitoring and control of electronic devices throughout their supply chain. These systems also struggle with challenges like managing the entire lifespan of electronic products, securing data access, selecting reputable stakeholders, and handling the substantial data volumes generated during various supply chain stages. The E-Waste Tracking System integrates blockchain into the existing e-waste management framework, ensuring the traceability, accountability, and transparency of e-waste throughout its lifecycle. By employing smart contracts and cryptographic techniques, the system enables secure and immutable recording of e-waste transactions, including collection, transportation, recycling, and disposal. The decentralized nature of the blockchain ensures that all stakeholders, including consumers, recyclers, regulatory authorities, and manufacturers, can access on real-time, trustworthy information about e-waste movements and treatments. The E-waste tracking prototype is developed as a user-friendly web application, ensuring accessibility across various devices and platforms. The system's architecture is built upon permissioned block chain, enhancing security by restricting access to authorized participants only.
Michael Lustenberger, Florian Spychiger, Lukas Küng, Jens Martignoni
Abstract The development of Bitcoin and its underlying technology blockchain has enabled a new phenomenon called decentralized autonomous organizations (DAOs). DAOs can be perceived as self-governing organizations whose management is based on programmed and encoded rules on a decentralized and distributed peer-to-peer network. These DAOs typically manage and allocate funds, often in the form of cryptocurrencies. However, in recent years, a variety of DAOs have been established to provide services (e.g., currency exchange, project financing), curate collections (e.g., art collections), or own and manage real assets (e.g., land). Currently, DAO literature focuses mainly on online communities managing digital assets; however, DAOs owning physical properties differ from them in localized communities, asset indivisibility, and additional complexity in collective acquisition, ownership, limited physical capacity, and decentralized governance . Such property-owning DAOs are interesting, because they fuel the transition from purely online organizations into organizations integrating with the physical world. From an organizational system theory perspective this article explores how a DAO owning properties could be designed by exploring three DAO projects that own properties. Applying a conceptual research design , we first identify DAO Design Principles obtained by traditional organizational system theory, followed by examining and describing the core organizational principles for property-owning DAOs. Based on a comprehensive discussion of the conceptual findings, we present a research agenda for further studies on DAOs owning properties.
ABSTRACT Blockchain technologies have catalyzed the rise of decentralized autonomous organizations (DAOs), which operate in an incentive network fueled by crypto tokens. In essence, these tokens are imbued with either payment rights (i.e., transactional tokens) or ownership rights (i.e., governance tokens). The decentralized organizational paradigm dismantles the traditional management structure and bring new research opportunities to Operations Management (OM). While the performance of DAOs has been largely examined in current OM literature, the effectiveness of their internal incentive mechanisms—specifically the one that uses ownership as rewards to promote user contributions—remains unclear. Focusing on DAO‐enabled virtual communities, we seek to examine whether decentralized ownership provides stronger incentives for user behaviors, such as creation and curation, in comparison to traditional monetary rewards through the lens of psychological ownership theory. We obtained data from Steemit that captures the reward, creation, curation and transaction behaviors of 98,000 users from May 2017 to April 2019. By leveraging the “power‐up” action as a shock that increases user ownership shares, we established a quasi‐experimental setting. Employing the PSM‐DID model, we found that the use of governance tokens is associated with enhanced creation and curation efforts but declined creation novelty, compared to the use of transactional tokens. Our additional analyses further reveal that the incentive effects of governance tokens diminish over time. However, upon the recurrence of the intended choice, these effects become reinforced. Notably, we find that governance token ownership is more strongly associated with curation efforts for users with weaker social ties. Conversely, for users with high reputation scores, their content creation behaviors are less strongly associated with governance token ownership. This study contributes to the burgeoning discourse on blockchain and cryptocurrency from an operational perspective, providing valuable insights for the design of incentive mechanisms in DAOs and advancing our understanding of operational efficiencies and stakeholder engagement in decentralized structures within Operations Management.
Purpose This study systematically reviews the role of decentralized finance (DeFi) in enhancing the quality, affordability, access and usage of financial services, specifically targeting underserved populations. The aim is to investigate DeFi’s potential in addressing financial exclusion and promoting global financial inclusion. Design/methodology/approach A systematic literature review was conducted, analyzing 67 peer-reviewed articles. The review focused on extracting actionable insights and recommendations regarding DeFi’s impact on financial inclusion. Findings The study reveals that DeFi, through the utilization of blockchain technology, can significantly improve accessibility, affordability and usability of financial services. By eliminating intermediaries and reducing entry barriers, DeFi platforms democratize finance and support financial inclusion on a global scale. The research identifies specific mechanisms through which DeFi can enhance financial services for marginalized communities, including decentralized lending, digital wallets and blockchain-based remittances. Research limitations/implications The study is constrained by the current literature and data availability on DeFi’s impact on financial inclusion. Future research should explore the scalability, sustainability and long-term effects of DeFi solutions in diverse contexts. Originality/value This research uniquely contributes to the literature by examining the intersection of DeFi and financial inclusion, providing innovative approaches to overcoming financial exclusion. The study highlights DeFi’s potential to transform financial services and empower underserved populations economically.
Abstract The integration of Artificial Intelligence (AI) and decentralized economies is redefining wealth distribution by enabling autonomous financial systems, AI-powered smart contracts, and decentralized governance models. AI enhances decentralized finance (DeFi) by optimizing liquidity management, predictive analytics, and risk assessment, making financial services more accessible and inclusive. Through AI-driven tokenized economies, self-sovereign identities (SSIs), and automated economic decision-making, individuals—especially unbanked populations—can participate in global wealth creation without traditional financial barriers. AI-powered Decentralized Autonomous Organizations (DAOs) are further revolutionizing financial governance by ensuring transparent, algorithmic decision-making and equitable wealth allocation. However, challenges such as AI bias, cybersecurity risks, regulatory uncertainties, and scalability limitations must be addressed to build sustainable AI-driven decentralized financial ecosystems. This chapter explores the intersection of AI, blockchain, and decentralized finance, offering insights into how AI is transforming digital trade, financial inclusion, and economic autonomy while shaping a more equitable, decentralized global economy. Keywords AI-driven economies, decentralized finance, DeFi, AI-powered smart contracts, wealth distribution, DAOs, blockchain governance, tokenized economies, financial inclusion, AI in economic decision-making, self-sovereign identities, decentralized marketplaces, economic autonomy, AI-driven wealth redistribution, predictive analytics in finance, AI in decentralized governance.
Decentralized Autonomous Organizations (DAOs) signify a groundbreaking approach to Internet-based management, enabled by blockchain technology and cryptocurrencies, and are viewed as fundamental elements of the Web3 ecosystem. In this study, we delve into the concept of DAOs by thoroughly investigating their underlying structure, ideology, and operational principles. Furthermore, we present a novel DAO framework derived from a technical and organizational assessment and provide an overview of cutting-edge DAO tools currently available. This research enables the swift implementation of DAO creation or transformation customized to an organization’s specific stage. Additionally, we recognize current challenges and shortcomings in existing DAOs and propose areas for future exploration.
This study explores the global patterns of non-fungible token (NFT) equity funding, focusing on NFTs’ role as a sustainable financial technology (fintech) in promoting the United Nations’ sustainable development goals (SDGs) as well as entrepreneurship and in balancing business growth with social impact. Utilizing descriptive tools and the Wilcoxon rank-sum (Mann–Whitney) test, we analyze global and regional data from 2015 to 2021 to examine NFT funding flows. The results show that funding flows from 2015 to 2021 exhibit notable differences and that funding flows in the United States (US) and Europe differ significantly from those in Latin America and the rest of the world (regions other than the US, Asia, Europe, Latin America, and Canada). Furthermore, using a narrative literature review, we determine that NFT-funded projects support achieving the SDGs (including decent work and economic growth; climate action; peace, justice, and strong institutions; quality education; partnerships for the goals; and industry, innovation, and infrastructure), fighting against hunger and poverty, promoting human well-being, facilitating financial inclusion, and reducing gender gaps, thereby ensuring business growth aligning with social benefits. However, technological barriers, negative environmental impacts, insufficient regulations, unequal benefit distribution, and social distrust may obstruct NFT innovation.
As blockchain technology continues to evolve, its inherent decentralization, transparency, and immutability offer increasingly viable applications for smart contracts in the financial sector. Smart contracts autonomously execute and enforce transaction terms without the need for third-party intermediaries, thus enhancing both transaction efficiency and security. However, the creation of smart contracts generally requires advanced programming expertise, limiting their accessibility to non-technical users. To address this challenge, this paper introduces VortexDraft, an automated smart contract generation system leveraging Named Entity Recognition (NER). The system employs a user-configurable NER dataset to train a BERT (Bidirectional Encoder Representations from Transformers) model, facilitating the accurate extraction of key information from natural language inputs, which is then automatically translated into Solidity-compliant smart contract code. Experimental evaluations demonstrate that VortexDraft achieves over 99% accuracy in NER tasks, with the generated Solidity code aligning closely with the specifications outlined in natural language descriptions. This significantly enhances the efficiency and precision of smart contract generation, offering a robust solution for decentralized finance and other application areas.
Radu Miron, Mihai Hulea, Vlad Mureşan, Iulia Clitan · 5 authors
As cities evolve into smarter and more connected environments, there is a growing need for innovative solutions to improve urban mobility. This study examines the potential of integrating blockchain technology into passenger transportation systems within smart cities, with a particular emphasis on a blockchain-enabled Mobility-as-a-Service (MaaS) solution. In contrast to traditional technologies, blockchain’s decentralized structure improves data security and guarantees transaction transparency, thus reducing the risk of fraud and errors. The proposed MaaS framework enables seamless collaboration between key transportation stakeholders, promoting more efficient utilization of services like buses, trains, bike-sharing, and ride-hailing. By improving integrated payment and ticketing systems, the solution aims to create a smoother user experience while advancing the urban goals of efficiency, environmental sustainability, and secure data handling. This research evaluates the feasibility of a Hyperledger Fabric-based solution, demonstrating its performance under various load conditions and proposing scalability adjustments based on pilot results. The conclusions indicate that blockchain-enabled MaaS systems have the potential to transform urban mobility. Further exploration into pilot projects and the expansion to freight transportation are needed for an integrated approach to city-wide transport solutions.