M Y Khan, Shaik Rehan, Mohammed Abdullah, Marwan Ali
In the rapidly evolving world of digital finance,there remains a growing need to bridge the gapbetween decentralized crypto assets and traditionalfiat currency systems. RupXpay is a robust andsecure payment application designed to meet thisdemand by enabling users to convert their cryptocurrency into Indian Rupees (INR) and alsoperform direct INR transfers through their bankaccounts. The app begins by allowing users toconnect any Web3 wallet of their choice (such asMeta Mask, Trust Wallet, etc.). Upon successfulconnection, RupXpay displays the user’s real-timewallet balance, providing full visibility andtransparency. When a user wants to convert theircrypto holdings into INR, they simply enter thedesired amount, select the block chain network,choose the crypto currency, and the preferredpayment method. To initiate the transaction, theuser must provide a digital wallet signature, whichnot only authorizes the transaction but alsotriggers a temporary wallet lock for five minutes.This lock mechanism ensures the transaction dataremains secure and unaltered during theverification process, significantly reducing the riskof fraud. The system calculates applicable gas feesbased on the selected network and applies a fixed1% fee for network processing and a 2% service feecharged by RupXpay for conversion services. Onceverified, the INR amount is credited to the user’slinked bank account. In addition to crypto-basedconversions, RupXpay supports traditional bankto-bank INR transfers. By linking their bankaccount within the app, users can send moneydirectly to other users without involving cryptocurrency, making RupXpay a complete, dual-modepayment solution. By combiningblock chain technology with traditional financialinfrastructure, RupXpay provides users with areliable, efficient, and secure platform to makecrypto spendable in everyday life. It is a futurereadyfinancial tool that redefines how digitalassets are used in the real economy.
Abstract: Decentralized Media: Ensuring Secure Content Sharing and NFT Minting Through Blockchain and User Validation. is a decentralized Web3 platform designed to transform how communities engage with media, culture, and entertainment. It fosters an inclusive digital environment where creators, fans, and curators can share and celebrate content without platform-imposed restrictions. By leveraging NFT-based memberships, users gain access to curated experiences, exclusive drops, and content governance, enabling community-led decision- making in media discovery. The platform is developed using the MERN stack (MongoDB, Express, React, Node.js) to ensure seamless performance and interactivity. Smart contracts on Ethereum manage content rights, ownership verification, and creator royalties, while IPFS is utilized for distributed media hosting, ensuring tamper-proof access to visual and audio content. NFTs act as both identity tokens and engagement keys, rewarding active users and creators within the ecosystem. Decentralized Media: Ensuring Secure Content Sharing and NFT Minting Through Blockchain and User Validation. offers a scalable, creator- first framework for decentralized content ecosystems. Its mission is to empower cultural expression, foster fan-driven storytelling, and decentralize the media landscape through transparency, ownership, and collective curation. With Decentralized Media: Ensuring Secure Content Sharing and NFT Minting Through Blockchain and User Validation., communities reclaim control over digital narratives and shape the future of entertainment. Keywords: Decentralized Media, Web3 Entertainment, NFT Memberships, Creator Economy, Community Governance, IPFS Media Hosting, MERN Stack, Smart Contracts, Tokenized Access.
The purpose of this article is to develop a smooth digital payment environment by combining cryptocurrency with the Unified Payments Interface (UPI). Utilizing the decentralized nature of cryptocurrency and UPI's real-time payment capabilities, the suggested method tackles issues including security, interoperability, and regulatory compliance. In order to facilitate fiat-crypto interactions, the framework assesses the roles of centralized and decentralized exchanges and uses smart contracts based on block chains for safe transactions. Enhancing financial inclusion, expediting access to digital assets, and encouraging innovation in payment methods are the goals of this integration. By offering insights into technological and regulatory factors, the study opens the door to a cohesive financial ecosystem that is prepared for the future.
Title: Systemic Risk Analysis of Synthetic Asset Issuance Protocols in Decentralized Finance (DeFi) Networks Based on Network Analysis and On-Chain Data DBA Candidate, University of Tehran Abstract: This study aims to analyze the systemic risk of synthetic asset issuance protocols within Iranian Decentralized Finance (DeFi) networks. To this end, a network analysis and on-chain data approach was employed to investigate financial interdependencies among key domestic cryptocurrency platforms, including Ramzinex, Nobitex, Bit24, Phintra, and IranExChain. Real-world data from 382,747 transactions spanning from March to December 2024 (Farvardin to Azar 1403 SH) were extracted and modeled as a cross-platform transaction matrix. Network analysis results indicate that the structure of Iran’s decentralized financial ecosystem is scale-free and heterogeneous, and liquidity concentration in two primary nodes (Ramzinex = 0.62, Nobitex = 0.51) significantly increases the probability of financial contagion among protocols. The network propagation model, with transmission coefficients β=0.16\beta = 0.16β=0.16 and γ=0.09\gamma = 0.09γ=0.09, demonstrates that under a scenario of a 30% drop in collateral value, the ratio of infected nodes to the entire network increases. The composite Network Stability Index (NSI), valued at 0.74 under normal conditions and 0.46 under severe shocks, confirms the transition of the system into a fragility phase. Sensitivity and bootstrap analyses recorded an error of 0.038, validating the robustness of the model. Furthermore, results show that the introduction of the digital Rial (Rial Digital Currency) in June 2024 led to a 12% reduction in average systemic risk and enhanced cross-platform stability. Based on the findings, three strategies are proposed to mitigate systemic risk in Iran’s DeFi ecosystem: improving on-chain data transparency, regulating Rial-based collateralization policies, and designing an early warning system based on the SIR model. By combining local on-chain data with international network metrics, this study presents the first comprehensive analytical framework for assessing financial resilience in Iranian synthetic asset protocols. Keywords: Systemic Risk, Synthetic Assets, Decentralized Finance (DeFi), Network Analysis, On-Chain Data, Stability Index, Rial Digital Currency, SIR Model.
The advent of cryptocurrency has unleashed a tsunami in the global financial system, and the impact on traditional banking systems, particularly in India, has been nothing short of revolutionary. Effect of cryptocurrency on traditional banking in relation to India(04) Cryptocurrency comprises of non-regulated digital or virtual currency systems that use cryptography as a security process to verify and secure transactions along with the creation of additional units of the currency. Cryptocurrencies are based on the blockchain and are decentralized, serving as an alternative to traditional banking systems due to how it allows for faster, cheaper, and borderless transactions. This threatens traditional banking services, such as remittances, payments and lending. Speculation Points to Continued Growth in the Indian cryptocurrency industry floundered in the face of regulatory uncertainty, but it has still grown exponentially, as tech-savvy people and businesses adopt cryptocurrencies. Within this context, the study analyzes responses of traditional banks, which range from adopting blockchain technology and enhancing digital offerings to address competition from fintech companies. It also examines any regulatory policies implemented by the Reserve Bank of India (RBI) and the repercussions those policies have on the peaceful coexistence of cryptocurrency and traditional banking. The paper seeks to delve into potential collaboration and integrate between cryptos and conventional banking in India via a combination of qualitative and quantitative research methods while underlining the necessity of balanced regulation that encourages innovation, all while upholding financial stability. And the research ends with policy recommendations that would allow India’s banking sector adapt to digital currency as it evolves. Keywords: Cryptocurrency, Traditional Banking, Financial Innovation
Charitable donations play a vital role in supporting humanitarian causes across the globe. However, traditional donation systems frequently encounter significant dispute like insufficient transparency, operational inefficiencies, and vulnerability to fraud or mismanagement. These issues often erode donor trust and create barriers to effective and timely distribution of funds. To overcome these limitations, this paper presents a decentralized donation platform Constructed on the Ethereum blockchain, leveraging smart contracts to enable secure transparent, and tamper-proof transactions. The proposed system enables donors to track their contributions in real time and Guarantees that funds are released solely when specified conditions are fulfilled, thus removing the requirement for third-party intermediaries. A functional prototype was created utilizing the Solidity programming language. and deployed on Ethereum test network. Experimental results show successful automation of donation tracking, verification, and conditional fund release with minimal transaction overhead. The proposed approach significantly enhances transparency, trust, accountability, and operational efficiency, offering a scalable and reliable alternative to traditional donation mechanisms.
Purpose: The paper discusses the intersection of financial literacy and digital asset education as an inherent determinant of the emergence of a new wave of self-made millionaires in America. As conventional means to wealth creation become ever more tenuous, especially for Millennials and Gen Z, advances in digital technology, including cryptocurrency, decentralized finance (DeFi), non-fungible tokens (NFTs), and e-business present unparalleled opportunities. The article investigates the key role played by financial literacy in empowering individuals to access these new avenues. Materials and Methods: A mixed-method research design was employed in this study. The paper employs current data published by Pew Research, Chainalysis, Fidelity, and the Global Financial Literacy Excellence Center. The research also employs qualitative interviews and public case profiles of investors and digital entrepreneurs. Findings: The most successful lasting success factor among the new digital millionaires is not inherited wealth or high income, but rather high financial and digital literacy levels. Case studies of individuals who have utilized cryptocurrency investing, digital enterprises, and online learning to attain prosperity prove the trend. Furthermore, this paper presents a comparative review of traditional and digital wealth creation models. Implications to Theory, Practice, and Policy: The study proposes a redefinition of financial literacy to include blockchain, tokenomics, and platform-based earnings. Practically, it summons schools, governments, and financial institutions to incorporate digital financial literacy into education and advisory services. Policy implications are public funding for Web3 education, support for digital entrepreneurship, and the decentralization of access to wealth-building.
The digital transformation of traditional finance is enabled through intelligent automation and cloud platforms. With these technologies, traditional banks and financial institutions can digitalize their products and services, transforming the banking and finance value chain along the way. Digital transformation goes beyond mere product digitization. As traditional financial institutions journey through the transformation process, they start to share their data and enable integration of back-end processes with other players in the finance ecosystem. Digital transformation leads to opening of traditional financial products through partnerships with fintech enabling easier access to financial services by suppliers, with embedded finance options. Traditional financial services such as lending and insurance underwriting become easier for customers to access through any supplier's front-end interface with integration to bank backends. Data sharing on transaction-based open finance and creditworthiness on decentralized identity with digital wallets, backed by blockchain privacy models enhances financial access for the unbanked and under-banked customers. Products are tailored to the needs of end-users through data analytics techniques and fintech partnerships.
The security testing of Ethereum smart contracts has become increasingly important with the rise of decentralized applications (DApps) and blockchain technology. This systematic literature review (SLR) aims to provide a comprehensive overview of the state-of-the-art techniques, methodologies, tools, and challenges in the security testing of Ethereum smart contracts. By synthesizing and analyzing existing research articles, conference papers, and other relevant sources, this SLR identifies common trends, gaps, and areas for future research in this domain. The review covers various aspects of security testing, including vulnerability detection, testing frameworks, automated analysis tools, and best practices. In addition, it explores the impact of security vulnerabilities on smart contract ecosystems and proposes recommendations to improve the effectiveness and efficiency of security testing processes. This SLR serves as a valuable resource for researchers, practitioners, and developers interested in improving the security and reliability of Ethereum smart contracts.
Alternative financial services (AFS) have been studied in recent years in terms of how these financialmarkets are utilized. The products and services include check cashing, pawnshop loans, payday advanceloans, electronic cash transmissions, tax refund anticipation arrangements, rent-to-own contracts, prepaiddebit cards, gift cards, and loans collateralized by automobile titles. Cryptocurrency has become part ofthis AFS ecology. The 2023 Survey of Household Economics and Decisionmaking collected informationon AFS use, including the use of cryptocurrency as an AFS. This research answered the questions: a) Dousers of cryptocurrencies for AFS also tend to use them for investments; b) do users of cryptocurrencies tomake payments tend to use them for other AFS purposes, and c) do users of cryptocurrencies to sendmoney to friends and family tend to use them for other AFS purposes?
The explosive growth of Non-Fungible Tokens (NFTs) has revolutionized digital ownership by enabling the creation, exchange, and monetization of unique assets on blockchain networks. However, this surge in popularity has also given rise to a disturbing trend: the emergence of rug pulls - fraudulent schemes where developers exploit trust and smart contract privileges to drain user funds or invalidate asset ownership. Central to many of these scams are hidden backdoors embedded within NFT smart contracts. Unlike unintentional bugs, these backdoors are deliberately coded and often obfuscated to bypass traditional audits and exploit investor confidence. In this paper, we present a large-scale static analysis of 49,940 verified NFT smart contracts using Slither, a static analysis framework, to uncover latent vulnerabilities commonly linked to rug pulls. We introduce a custom risk scoring model that classifies contracts into high, medium, or low risk tiers based on the presence and severity of rug pull indicators. Our dataset was derived from verified contracts on the Ethereum mainnet, and we generate multiple visualizations to highlight red flag clusters, issue prevalence, and co-occurrence of critical vulnerabilities. While we do not perform live exploits, our results reveal how malicious patterns often missed by simple reviews can be surfaced through static analysis at scale. We conclude by offering mitigation strategies for developers, marketplaces, and auditors to enhance smart contract security. By exposing how hidden backdoors manifest in real-world smart contracts, this work contributes a practical foundation for detecting and mitigating NFT rug pulls through scalable automated analysis.
The emergence of Non-Fungible Tokens (NFTs) – unique, blockchain-based tokens – has introduced a new dimension to the concept of property rights in the digital domain. Recent legal developments in the UK and the proposal of the Property (Digital Assets etc) Bill fuelled the discussion on how to legally conceptualise digital assets, including Non-Fungible Tokens (NFTs). This paper explores the evolving legal landscape surrounding property rights over NFTs, examining the challenges and ambiguities that arise from their intersection with existing property law frameworks. It analyses how property is defined and transferred in the context of NFTs, the implications for creators and acquires, and the best way to protect the latter. By critically assessing these issues, this paper aims to provide some insights regarding the legal principles that should guide the recognition and enforcement of property rights over NFTs, while suggesting new legal paths to accommodate this rapidly evolving technology.
Smart contracts are self-executing programs that facilitate trustless transactions between multiple parties, most commonly deployed on the Ethereum blockchain. They have become integral to decentralized applications in areas such as voting, digital agreements, and financial systems. However, the immutable and transparent nature of smart contracts makes security vulnerabilities especially critical, as deployed contracts cannot be modified. Security flaws have led to substantial financial losses, underscoring the need for robust verification before deployment. This survey presents a comprehensive review of the state of the art in smart contract security verification, with a focus on Ethereum. We analyze a wide range of verification methods, including static and dynamic analysis, formal verification, and machine learning, and evaluate 62 open-source tools across their detection accuracy, efficiency, and usability. In addition, we highlight emerging trends, challenges, and the need for cross-methodological integration and benchmarking. Our findings aim to guide researchers, developers, and security auditors in selecting and advancing effective verification approaches for building secure and reliable smart contracts.
This project represents a comprehensive digital transformation initiative designed to revolutionize traditional procurement practices through the development of an advanced Smart Tender Management System that enables vendors to seamlessly access complete tender documentation and specifications through a centralized online platform while facilitating efficient electronic bid submission processes. The system fundamentally addresses the inherent inefficiencies and cost burdens associated with conventional tendering methodologies by significantly minimizing additional operational expenses that traditionally encompass extensive advertising campaigns, physical document printing and distribution, manual handling procedures, and administrative overhead costs that often inflate the overall procurement budget. Through its sophisticated digital architecture, the application establishes stringent timeline management protocols that ensure the evaluation process adheres strictly to predetermined schedules and deadlines, thereby eliminating delays that frequently plague traditional tendering systems and compromise project timelines. The platform accommodates multiple vendor participation by providing a robust infrastructure that supports simultaneous bid submissions from diverse suppliers, contractors, and service providers, each presenting unique proposals with varying technical specifications, pricing structures, and implementation methodologies, from which procurement committees can systematically evaluate and select the most suitable proposals based on predetermined criteria including cost-effectiveness, technical merit, vendor credentials, and alignment with organizational objectives. This systematic approach to vendor selection and proposal evaluation has demonstrated significant potential for enhancing organizational profitability through optimized resource allocation, reduced procurement costs, improved vendor competition, and the selection of high-quality solutions that deliver superior value propositions. Furthermore, the implementation of this digital tendering system contributes substantially to improving the overall operational quality and efficiency of organizations by streamlining bureaucratic processes, reducing human error, enhancing transparency and accountability, facilitating better vendor relationships, and providing comprehensive audit trails that support compliance requirements and regulatory standards. The Smart Tender Management System's integration of advanced technologies, including secure document management, automated workflow processes, real-time communication capabilities, and comprehensive reporting mechanisms, positions it as a transformative solution that fundamentally reshapes how organizations approach procurement activities. In essence, this Smart Tender Management System represents a paradigmatic shift from traditional, paper-based, time-consuming procurement practices toward a modern, efficient, technology-driven approach that provides organizations with a powerful, comprehensive tool to systematically streamline their entire tendering ecosystem, significantly reduce operational and financial risks associated with procurement activities, enhance their competitive positioning in increasingly dynamic market environments, and establish sustainable procurement practices that support long-term organizational growth and success while maintaining the highest standards of transparency, efficiency, and stakeholder satisfaction throughout the entire tender lifecycle management process.
The integration of Artificial Intelligence (AI) into decentralized finance (DeFi) has triggered a paradigm shift in the automation and optimization of financial contracts, particularly within the domain of financial derivatives. Derivatives, including options, futures, swaps, and forwards, are among the most complex financial instruments, requiring accurate pricing, efficient settlement, and continuous risk monitoring. Smart contracts—self-executing agreements coded onto blockchain networks—have emerged as a transformative mechanism to automate these processes. However, conventional smart contracts in DeFi are constrained by inefficiencies in execution logic, gas costs, vulnerability to adversarial trading strategies, and limitations in adapting to real-time market fluctuations. This manuscript investigates AI-driven optimization frameworks for smart contracts in derivatives markets, where machine learning algorithms, reinforcement learning agents, and predictive analytics are employed to dynamically enhance pricing mechanisms, counterparty risk management, and execution efficiency. The study builds on an extensive literature review of DeFi, AI-finance integration, and blockchain automation, proposing an AI-augmented smart contract architecture that enables adaptive fee structures, risk-adjusted margin calls, automated dispute resolution, and latency-sensitive derivatives clearing. A simulation-based methodology was employed, where deep reinforcement learning models interacted with synthetic market data to optimize contract logic in futures and options markets deployed on Ethereum Virtual Machine (EVM)-compatible blockchains. Statistical evaluation revealed that AI-enhanced smart contracts demonstrated 25–40% improvement in transaction throughput, 18–25% reduction in gas costs, 30–35% enhancement in derivative pricing accuracy, and 50% reduction in settlement disputes compared to baseline blockchain contracts. The results highlight that AI-driven optimization is not only feasible but essential for scaling derivatives trading in DeFi to institutional-grade levels. The paper concludes by discussing regulatory implications, computational limitations, adversarial AI threats, and the future trajectory of autonomous financial engineering.
AI-, ML-, and blockchain-based supply chain innovations are aimed at maximizing system efficiency. The technologies dispense inefficiencies by decentralizing digital identity management via self-sovereign identities and P2P lending to make vendor-financed systems secure, flexible, and scalable financial operations. The proposed framework features predictive forecasting along with cognitive-driven capabilities, P2P financing for support of financing, and self-sovereign digital identities for authentication independent of central control. It maximizes vendor-managed inventory (VMI) through optimal transparency on the blockchain and embracing self-directed digital identities in networks. Platform trials demonstrate that it works, with 92% prediction rate, 91% success with performing operations, and 93% recall of useful data. Such performance demonstrates that the system maximally enhances supply chain efficiency, maximizes data security, and enables dynamic financial operations. The convergence of cognitive technologies, self-sovereign digital identities, and P2P lending is a scalable solution to establish secure and efficient supply chain systems for vendor-controlled ecosystems.
Web3 technology echoes the paradigm of a secure, transparent, and privacy-preserving decentralized internet. Unfortunately, this digital transformation has opened up new opportunities for cybercriminals, for example online gambling bookies can utilize the Blockchain Domain Name System (BDNS) running on Web3 as a way to avoid tracking and blocking. This analysis aims to map the potential threats from misuse of BDNS technology through a two-dimensional scenario matrix approach using two main types of variables: (1) Native Web3 integration into popular browsers, and (2) Level of BDNS adoption by online gambling sites. The four scenarios produced will describe various levels of risk that require different mitigation strategies, in certain combination conditions will create the highest threat conditions where the conventional domain name blocking system is no longer effective in blocking online gambling sites. The results of this study are expected to identify weak signals from the evolution of online gambling threats, as well as become a basis for government agencies or policy makers in preparing anticipatory steps in dealing with the dynamics of digital threats in the Web3 era.
Jun 6, 2025·Artificial Intelligence and Financial Transformation: Unlocking the Power of Fintech, Predictive Analytics, and Public Governance in the Next Era of Economic Intelligence
In a bank-centered financial system, digital payments basically mean how customers access their bank deposits to settle payments. Retail payments are mostly settled through government and commercial banks, but at RTGS level, payments occur through settlement controls of the central banks. In contrast, digital payments in a decentralized currency-based financial system involve no banks or financial institutions. In brief, it is the entire banking system and not just its accounts that do not participate in digital payments. Digital payments are the electric wiring that connects everyone at the ‘exchange’ and ‘conversion’ levels of the macroeconomic circuit, including consumers, businesses, banks, and central bank. In addition to money transfers, digital payments also provide complementary services needed in consumption and Ecommerce, such as invoicing, matching buyers and sellers, clearing, and settlement. Unlike most circuit activities, digital payments do not have a multiplier effect because of digital payments’ one-for-one service charge. Digital payments also have a major role in the rapid and invisible collection of indirect taxes. Digital payment systems, whether wallet-based or interbank-based, extricate the economy from the “cash flow and multiply” mechanism that has characterized the world economy ever since barter systems were replaced by elaborate currencies. Paper currencies also have become obsolete and are headed for complete replacement by digital payments (Gai et al., 2018; Chen et al., 2019; Arner et al., 2020).
Purpose Non-fungible tokens (NFTs) are the most promising phenomenon representing ownership of virtual goods or digital assets. This study aims to empirically examine the factors influencing NFT adoption among customers in the “National Capital Region,” India. Design/methodology/approach The researchers collected data for this quantitative study through a “self-administered questionnaire” from 303 NFT customers in India. The research applied “partial least squares-structural equation modeling (PLS-SEM)” to investigate and validate the hypotheses. Findings The outcomes exhibited that trust, perceived playfulness and customer innovativeness significantly influence attitude and purchase intention toward NFTs. However, perceived risk insignificantly affects both attitude and purchase intention toward NFTs. Besides, attitude and purchase intention significantly influence actual purchase behavior toward NFTs. Practical implications The finding facilitates stakeholders (such as customers, practitioners and service providers) to advance the academic understanding of NFT services, including refining pricing strategies and customer preferences and aligning marketing approaches with identified trends in the NFT market. This study also sheds light on NFT services that can help attain the “Digital India mission” of the Indian government. Originality/value To the authors’ knowledge, no prior efforts have been made to formulate a conceptual model to recognize the factors influencing the actual purchase behavior of customers toward NFT services in India. This paper significantly contributes to the existing literature by addressing this research gap, offering valuable insights, broadening the understanding of NFT adoption and providing a strategic framework for future market development.
The development of digital technology has encouraged the use of smart contracts as an instrument for automating agreements in Blockchain-based electronic transactions. In the context of Indonesian law, the validity of a smart contract must meet the legal requirements for an agreement, as regulated in Article 1320 of the Civil Code, which includes the agreement between the parties, legal capacity, a transparent object of the agreement, and lawful causes. Additionally, data verification in smart contracts is a key element in guaranteeing the security, authenticity, and transparency of e-commerce transactions, which is related to the provisions in the ITE Law and the PDP Law. This verification aims to prevent data manipulation, reduce the risk of fraud, and increase trust in transactions by using encryption technology, digital signatures, and Blockchain-based identity. Smart contracts can be considered valid if they fulfill the terms of the agreement and data security principles, making their use in e-commerce more effective and reliable.
Nuwan. A. N, H.G.K.N Bandara, Duminda S. Ranasinghe, Shirantha Heenkenda · 7 authors
Cutting-edge technology has transformed virtually every area of global operations, prompting individuals to abandon traditional corporate practices in favor of a modern platform. Payment methods have evolved further towards virtual payment ways than ever before, and the global acceptance of cryptocurrencies is astounding. The purpose of this study was to examine the factors that contribute and degree of readiness of SMEs to accept bitcoin as a form of payment, with a special emphasis on SMEs in Sri Lanka. The study used a quantitative survey approach and collected 240 responses from SMEs registered with the Chamber of Commerce and the Ministry of Industry in Sri Lanka. Primary data were collected using a self-administered questionnaire approach, and descriptive and inferential statistics were utilized to evaluate them. The data indicate that respondents were excited about utilizing bitcoins as a payment mechanism. The study revealed that the SME sector in Sri Lanka is breeding ground for new payment technologies, particularly among male-owned SMEs in the service sector. Financial stability plays a greater role as a moderator which enables institutions to continuously enhance and reinvent their services, resulting in a more seamless and intuitive transaction experience. This study further revealed that social influence and trust go hand in hand, and trust has a big impact on the adoption of cryptocurrencies in particular where distrust in SMEs are greater challenge where perceptions of the rule of law is strongest. The findings implied that the transaction openness and more accessible information on the opaque legal issues around cryptocurrencies, particularly the distinct roles of the many regulatory authorities, platform security should be reinforced. Regular security audits, disclosing vulnerabilities and solutions, and responding to users’ complaints and inquiries must all be managed in a well-organized manner among the unorganized sector.
The stock market is crucial in modern economic systems, facilitating capital allocation and wealth generation. Swap contracts are a fundamental financial tool allowing two parties to exchange cash flows, such as stocks, according to predefined rules over a specified period. These contracts are widely used to manage financial exposure, reduce borrowing costs, speculate on market movements, and optimize financial strategies. Blockchain technology, a decentralized and distributed ledger system, has gained significant traction in recent years. Increasingly, blockchain users are seeking to invest in traditional stocks through blockchain-based mechanisms. In this paper, we propose a protocol for implementing swap contracts on a blockchain, enabling the synthetic representation of real-world stocks. To the best of our knowledge, this work is the first to implement blockchain-based swap contracts. Implementing swap contracts has the potential to facilitate the development of more advanced financial tools that currently do not exist on blockchain networks, such as blockchain-based index funds and Exchange-Traded Funds (ETFs).