Saad Alateef, Amjad Aldweesh, Ahmad Al–Qerem, Mohammad Alauthman · 5 authors
Blockchain technology has emerged as a disruptive force across various industries, promising decentralization, transparency, and enhanced efficiency. In the energy sector, blockchain holds the potential to transform traditional financing and investment models by lowering transaction costs, democratizing access to capital, and streamlining project management. This chapter explores how blockchain-based solutions revolutionize energy financing and investment, particularly focusing on peer-to-peer marketplaces, tokenization, crowdfunding, and smart contracts. Through real-world case studies and academic analysis, we illuminate the path toward more sustainable and inclusive energy markets.
Blockchain technology is being increasingly deployed to store and process transactions and information in the global financial sector. Blockchain underpins cryptocurrencies such as Bitcoin and facilitates decentralized finance (DeFi), representing a paradigm shift in the global financial landscape, offering alternative solutions to traditional banking, and fostering financial inclusion. In developing economies such as Morocco, where a significant portion of the population remains unbanked, these digital financial innovations present both opportunities and challenges. This study examines the potential role of cryptocurrencies and DeFi in enhancing financial inclusion in Morocco, where cryptocurrencies have been banned since 2017. However, the public continues to use cryptocurrencies, circumventing restrictions, and the Moroccan Central Bank is now preparing to introduce new regulations to legalize their use within the country. In this context, this article analyses the potential of cryptocurrencies to mitigate barriers such as high transaction costs, restricted access to financial services in rural areas, and limited financial literacy in the country. The study pursues a mixed-methods approach, which combines a quantitative survey with qualitative expert interviews and adapts the Unified Theory of Acceptance and Use of Technology (UTAUT) model to the Moroccan context. The findings reveal that while cryptocurrencies offer cost-efficient financial transactions and improved accessibility, their adoption may be constrained by regulatory uncertainty, security risks, and technological limitations. The novelty of the article thus lies in its focus on the key mechanisms that influence the adoption of cryptocurrencies and their potential impact in a specific national context. In so doing, the study highlights the need for a structured regulatory framework, investment in digital infrastructure, and targeted financial literacy initiatives to optimize the potential role of cryptocurrencies in progressing financial inclusion in Morocco. This underscores the need for integrated models and guidelines for policymakers, financial institutions, and technology providers to ensure the responsible introduction of cryptocurrencies in developing world environments.
Fintech 4.0 integrates Artificial Intelligence (AI) with Blockchain technology to enhance smart accounting systems in Industry 4.0, ensuring transparency, automation, and security. Traditional accounting methods face challenges such as data manipulation, lack of real-time verification, and inefficiencies in auditing processes. To address these issues, the proposed Blockchain-assisted Decentralized Ledger System (BC-DLS) leverages AI-powered smart contracts and distributed ledgers for automated auditing, ensuring real-time validation and fraud detection. This method enhances accuracy, reduces human intervention, and streamlines financial transactions with enhanced security and compliance. The proposed approach ensures secure, immutable, and transparent financial records, minimizing discrepancies and improving trust in financial systems. Experimental results demonstrate that BC-DLS significantly enhances efficiency, reduces operational costs, and strengthens fraud prevention mechanisms, making it a robust solution for modern financial ecosystems.
With the rapid expansion of blockchain applications, smart contracts are becoming increasingly complex, making the automated detection of contract vulnerabilities more critical than ever. Large language models, due to their advanced code comprehensive ability, are considered to have the potential to undertake the task of automated software vulnerability discovery. Although there have been empirical studies on ChatGPT's automated discovery of contract vulnerabilities, the current empirical research has not addressed how well ChatGPT can detect logical vulnerabilities in smart contracts or whether ChatGPT's detection performance for logical vulnerabilities can be improved. To fill this gap, this study collected and organized seven types of logical vulnerability source codes from 6165 real smart contract audit reports and three datasets, such as Web3Bugs, and used this database to validate ChatGPT's detection capability for logical vulnerabilities. To improve ChatGPT's accuracy in detecting logical vulnerabilities, we fine-tuned ChatGPT with a dataset marked with a specific method, achieving an average accuracy rate of 95% for single vulnerability detection per training session. We improved the original marking method to increase further the number of vulnerabilities that a single model can detect. We used a specific completion marking format, ultimately enabling ChatGPT to detect various logical vulnerabilities. In terms of enhancing model scalability, we found a special training set marking method that allows for the addition of detectable vulnerability types through secondary training.
ABSTRACT This study employed both bibliometric analysis and a comprehensive review of the existing literature to examine 3844 publications in cryptocurrency research, which were collected from the Web of Science Core Collection Database. The study has utilized bibliometric methods to analyze the most productive countries and regions, research institutions, and authors in cryptocurrency research. Cluster analysis of co‐citation articles indicates three main themes in cryptocurrency research over the past decade: the efficiency of the cryptocurrency market, innovation, application, and governance of blockchain technology as well as risk management of cryptocurrencies. Keyword co‐occurrence analysis reveals three major future research directions regarding cryptocurrency: (1) using machine learning methods to forecast price returns of cryptocurrencies; (2) how to enhance the security, legitimacy, and environmental sustainability of cryptocurrencies; (3) further exploration of the impact of various unexpected events on the risks of cryptocurrencies under global instability. In the section of literature review, two to three representative papers from the five most‐cited authors in cryptocurrency research are summarized. Additionally, 28 of the most noteworthy papers, selected based on three different criteria, are presented. These papers cover different periods and research topics, and a brief yet comprehensive overview of these 28 influential papers is provided.
Purpose This study aims to analyse the academic literature on cryptocurrency regulation using a combined bibliometric and systematic literature review approach, focusing on research trends, influential contributions and thematic clusters from 2018 to 2024. Design/methodology/approach This study reviews 62 journal articles published between 2018 and 2024. A combined bibliometric and systematic literature review approach is used to analyse key articles, journals, authors and countries contributing to the field. Thematic clusters such as crowdfunding, FinTech, blockchain vulnerabilities, Central Bank Digital Currencies (CBDCs) and economic forecasting in developing countries are identified. Findings The analysis reveals emerging trends and significant advancements in cryptocurrency regulation, highlighting key contributors in the field. Thematic clusters show a focus on blockchain vulnerabilities, the rise of CBDCs, and regulatory challenges in developing economies. These themes represent the most pressing areas in cryptocurrency market regulation. Practical implications The findings offer insights for policymakers, researchers and industry practitioners to shape effective regulatory frameworks, addressing critical issues such as blockchain security and central bank digital currencies. Social implications This research contributes to the development of robust regulatory frameworks, promoting market stability and transparency, which will ultimately benefit global financial markets and stakeholders in the cryptocurrency ecosystem. Originality/value To the best of the authors’ knowledge, this study is the first to integrate bibliometric and systematic literature review methods to examine cryptocurrency regulation, providing a comprehensive overview of the research landscape.
The integration of Artificial Intelligence (AI) in finance is transforming digital economics by enhancing decision-making, automating processes, and optimizing financial strategies. This book chapter explores AI-driven learning techniques, including machine learning, deep learning, and reinforcement learning, and their applications in financial markets, risk management, fraud detection, and algorithmic trading. We analyze the impact of AI on financial institutions, digital banking, and decentralized finance (DeFi), highlighting how AI enhances predictive analytics, customer experience, and regulatory compliance. Additionally, the chapter discusses the ethical and regulatory challenges of AI adoption in finance, emphasizing the need for transparency and fairness in AI-driven financial systems. By examining real-world case studies and emerging trends, this chapter provides a comprehensive overview of AI's role in shaping the future of digital economics.
Decentralized Finance (DeFi) has revolutionized financial transactions (peer-to-peer fund transfer) through blockchain-based smart contracts. However, vulnerabilities in smart contracts have caused financial losses exceeding billions of dollars, underscoring the need for robust security measures. This paper addresses the critical research questions about smart contract vulnerabilities, their real-world exploitation, and the effectiveness of vulnerability detection tools. We comprehensively analyze the four most critical smart contract vulnerabilities using Solidity code examples, real-world attack analyses, and audit findings. We then present mitigation strategies to help developers build secure decentralized applications (DApps). We also benchmark two widely used smart contract analysis tools, Slither, and 4naly3er, for accuracy and coverage. Our study reveals that Slither is more accurate, but no single tool provides complete coverage. This highlights the need for a multi-tool approach and manual audits for robust security.
Ângela Filipa Oliveira Gonçalves, Shafik Faruc Norali, Clemens Bechter
The paper investigates current and future pricing models in the European healthcare sector. European countries follow a universal healthcare system, whereas the United States rely on a mix of private insurers, government programmes, and private payments. It is becoming obvious that the European “free” healthcare systems are not sustainable in the long run. The authors propose a private Buy-Now-Pay-Later (BNPL) alternative. BNPL is common practice in retailing but highly unusual in healthcare. The authors suggest to enhancing BNPL further by adding AI and blockchain/crypto technology. However, there are three hurdles to overcome, namely, cryptocurrency volatility, regulatory uncertainty, and adoption barriers. Our field research investigated the acceptance barriers especially whether European medical service providers would accept cryptocurrency payments and the BNPL model in general. Our survey is based on 366 European medical service providers, mainly medical doctors. The results show that there is willingness to accept cryptocurrencies. As recommendation we outline how a fully integrated AI-powered BNPL model with cryptocurrency payments and smart contracts including BNPL Tokenisation in a decentralised financial market could work to the benefit of all stakeholders.
Abstract-Non-Fungible Tokens (NFTs) have emerged as a transformative force in the digital economy, offering creators a novel and decentralized way to monetize their work. Powered by blockchain technology, NFTs ensure transparency, traceability, and ownership of digital assets—ranging from art and music to virtual real estate. By eliminating the dependency on traditional intermediaries such as galleries and auction houses, NFTs empower artists to connect directly with global audiences through dedicated marketplaces. This project explores the core concepts of NFTs, their evolution, and their underlying architecture, including blockchain, smart contracts, token standards, and NFT marketplaces. The work process involves the detailed study of how NFTs are minted by uploading digital assets onto a blockchain-supported marketplace, registered through smart contracts, and then traded securely between users. The project also outlines key components such as tokenization, metadata storage, and transaction validation through cryptographic proofs. Through a comprehensive timeline, technical breakdown, and real-world use cases, the paper emphasizes the growing significance of NFTs in redefining digital ownership, while also evaluating their future impact on the Indian market and beyond. Keywords – NFT, Token, Blockchain, Market, Asset, Ethereum, Fungible.
In the music industry, established players and new entrants are exploring blockchain blockchain for innovative intermediation solutions between artists and consumers. Blockchain, smart contract smart contract s, and non-fungible tokens (NFTs) are expected to reduce transaction costs and complexities arising from multiple rights and contracts, while enabling the emergence of a token economy. Relying on intermediation theories intermediation theory , this chapter aims to analyze blockchain’s impact on the music industry’s structure, organizations, and value distribution, highlighting the roles of strategies, technological capabilities, and governance frameworks. An extensive empirical study identified three scenarios: radical disintermediation, traditional intermediaries optimizing workflows with blockchain, and new entrants widely adopting blockchain.
In a business network, blockchain is an agreed on, unchangeable ledger that makes it easier to monitor resources and keep track of events. From the trading of digital currencies like Bitcoin and Ethereum to a variety of uses in the private as well as public sectors, Blockchain technology has advanced. In a distributed setting, it facilitates confidence between untrusted organizations without requiring regulatory intervention. Blockchain provides a number of benefits, such as a shared register of records, which enhance company values. One of the most crucial components of blockchain application that enable safe operations without the involvement of outside parties is the smart contract. Over the past few decades, the usage of smart contracts has increased dramatically. The emergence of additional technologies, such as the distributed ledger, decentralized autonomous organizations, distributed finance, Internet of Things and AI is linked to this technology. The use of sophisticated smart contracts is applicable in every aspect of our everyday lives, from the logistics sector, the arts, economics and the Internet of Things. Smart contract is enforceable and self-executing computer program designed to carry out provisions of an agreement independently without involvement of third party. Since blockchain technology has developed rapidly, smart contracts have also exposed to number of security vulnerabilities, and some attacks resulting from these defects have caused significant losses. Any mistake in development of smart contracts might result in significant financial loss. The smart contracts are also susceptible to theft from even a little code mistake. Because of this, businesses recognize the need of smart contract security audits to reduce the risk of frauds and to boost transparency and security. Smart contracts audit is essential to build trust between parties involved in blockchain enabled business processes. This article present an in depth overview of smart contract, blockchain systems, smart contract vulnerabilities and smart contract audit process
The Engineering, Procurement, and Construction (EPC) industry faces significant financial management challenges due to the complexity of project financing, milestone-based payments, and multi-stakeholder collaboration. Traditional on-premise ERP financial systems are often inefficient, leading to delays in financial reporting, security vulnerabilities, and regulatory compliance difficulties. This study explores the development of cloud-based financial solutions tailored to the EPC industry, examining the benefits, challenges, and applicability of existing models such as Software as a Service (SaaS), Platform as a Service (PaaS), and Blockchain-based decentralized finance (DeFi). A Hybrid Cloud-Based Financial Framework is proposed, integrating SaaS for accounting, PaaS for customization, and Blockchain for secure transactions. Experimental validation demonstrates that cloud adoption reduces financial processing time by 87.5%, enhances cash flow visibility, improves security, and increases regulatory compliance efficiency by 40%. This paper highlights the importance of AI-driven predictive analytics, automated compliance, and hybrid cloud models in modern EPC finance and proposes strategies for overcoming integration challenges, cybersecurity risks, and workforce adoption barriers. Future research should focus on scaling hybrid cloud solutions globally and integrating AI-powered risk assessment tools.
Blockchain technology, the bedrock innovation in the digital economy, is steadily reengineering the operational logic of the traditional financial system. Harnessing its core attributes of decentralization, immutability, and transparency, it is making profound inroads. This paper undertakes an all-encompassing and systematic review of relevant literature from both domestic and international sources. It particularly focuses on the empowerment routes by which blockchain technology can fuel the reform of the traditional financial setup, thus furnishing theoretical support and practical blueprints for financial systemic revamp. Blockchain technology yields numerous advantages. It significantly boosts payment efficiency, slashes costs, and vigorously promotes financial inclusion. Moreover, it augments regulatory transparency and alleviates information asymmetry. However, several hurdles remain, such as scalability glitches, security threats, and regulatory compatibility issues. This research not only enriches the FinTech knowledge pool but also steers financial institutions in their digital transformation endeavors, enabling them to render more efficient and inclusive services. Going forward, future work should concentrate on technological innovation and regulatory adaptation to fully realize the potential of blockchain in the financial sector.
KDV Prasad, Shyamsunder Chitta, Hariprasad Soni, Ved Srinivas
The influence of Indian investors’ ambitions to utilize cryptocurrencies in Hyderabad Metro was examined by the authors. Eight reflective constructs were measured with the help of a structured questionnaire: pricing value, adoption intentions, perceived risks, regulatory frameworks, social influence, investment behaviours, effect expectancy and fear of missing out (FOMO). This study evaluated how Indian investors’ intentions to adopt cryptocurrencies were influenced by perceived risk, the legal environment, social influence, expected effort and price value. The constructs of investment behaviour, regulatory framework and perceived risk are statistically significant and impact the cryptocurrency adoption intentions of Indian investors. The impact of FOMO is positive and statistically significant and mediates the nexus between adoption intentions and investment behaviour. FOMO moderates the nexus between cryptocurrency adoption intention and investment behaviour. FOMO reinforces the favourable correlation between investing behaviour and adoption intention, according to the simple slope analysis.
This article takes Company A as an example to focus on the optimization path of a decentralized financial sharing platform that integrates blockchain technology and big data. By analyzing the hierarchical architecture and core technologies of blockchain and combining them with the capabilities of big data in data integration, analysis, and risk prediction, the author proposes a smart contract design scheme for a financial sharing platform based on "blockchain + big data." The author studied and designed a solution including architecture reconstruction, security optimization, and process automation to address the centralized data security risks, information asymmetry, business process redundancy, and talent shortage issues of Company A's existing platform. Empirical results indicate that this solution effectively addresses the pain points of data silos, high trust costs, and inefficient processes in traditional financial sharing platforms, providing a balanced, secure, and intelligent technological path for the digital transformation of large enterprise finance. The blockchain technology itself has unique advantages: decentralization, trustlessness, and a unique distributed ledger form. These advantages can be used to optimize the architecture of financial sharing platforms, promote and apply them, thereby improving financial work efficiency and expanding enterprise economic benefits.
In the modern financial landscape, cryptocurrency investments have gained substantial traction among both seasoned and novice investors. However, given the complexity, volatility, and risk associated with digital currencies, financial literacy plays a fundamental role in shaping an individual’s investment decisions. This study explores the intricate relationship between financial literacy and cryptocurrency investment behavior, analyzing how knowledge of financial principles influences an investor’s ability to assess risk, formulate strategies, and make informed decisions in the highly speculative crypto market. This research adopts a mixed-methods approach, combining both qualitative and quantitative data collection techniques. Surveys and structured interviews were conducted among cryptocurrency investors of various demographics, ranging from experienced market participants to first-time investors, to assess their understanding of financial concepts and their influence on investment strategies. Additionally, secondary data was sourced from financial reports, academic journals, and regulatory analyses to contextualize the findings within broader financial literacy frameworks. The results of the study indicate that individuals with a higher level of financial literacy are more likely to engage in thorough research before investing, effectively utilize risk management techniques, and demonstrate a more disciplined approach to cryptocurrency trading. Conversely, a subset of investors, despite having adequate financial knowledge, continues to engage in speculative trading driven by social trends, herd mentality, and market hype, often leading to irrational financial decisions. This suggests that while financial literacy is crucial, external factors such as psychological influences, peer recommendations, and media narratives can significantly impact investment behavior. The study further highlights the role of financial education in mitigating impulsive investment decisions. It emphasizes the need for targeted educational programs that equip investors with the analytical skills required to navigate the complexities of digital asset investments. By understanding key financial concepts such as market volatility, asset diversification, and risk assessment, investors can make more informed decisions and minimize exposure to financial losses. In conclusion, this study provides valuable insights into the role of financial literacy in shaping investment behaviors in the cryptocurrency space. The findings contribute to the ongoing discussion on financial education and its implications for emerging markets, digital assets, and investment decision-making processes. The study also serves as a foundation for further research on how investor psychology, regulatory frameworks, and technological advancements intersect with financial literacy in the evolving cryptocurrency ecosystem.
The migration of E-commerce applications to Blockchain offers a resilient solution to the vulnerabilities inherent in centralized servers. By dispersing data across multiple nodes, Blockchain ensures continuous service availability, even in the event of server failure or cyber attacks. Moreover, its inherent encryption and immutability features guarantee the security and integrity of customer and product data. Blockchain revolutionizes the E-commerce landscape by providing decentralized platforms that address critical challenges such as security, transparency, efficiency, and trust. This technology presents numerous opportunities for enhancing various aspects of E-commerce, including payment systems, supply chain management, and the implementation of smart contracts for automated workflows. With its robust capabilities, Blockchain emerges as a pivotal development poised to transform the E- commerce industry, paving the way for enhanced security, transparency, and efficiency in online transactions.
The rapid growth of cryptocurrency and blockchain technology has raised significant legal and ethical questions, particularly in Muslim-majority countries like Indonesia, where Islamic law (Shariah) plays a central role in financial regulation. This study examines the role of Islamic law in regulating cryptocurrency and blockchain technology, focusing on Indonesia’s regulatory framework. The research aims to assess the compatibility of these technologies with Shariah principles and identify gaps in the current regulatory approach. By doing so, it seeks to provide recommendations for developing a Shariah-compliant regulatory framework that balances innovation with ethical and legal considerations. Using a mixed-methods approach, this study combines legal analysis of Indonesia’s regulatory framework with qualitative interviews with Islamic scholars, regulators, and industry experts. Data were analyzed to evaluate the alignment of cryptocurrency and blockchain technology with Shariah principles, such as the prohibition of riba (interest) and gharar (uncertainty). The findings reveal that while blockchain technology has potential applications in Islamic finance, cryptocurrencies face significant challenges due to concerns over volatility, speculation, and lack of intrinsic value. The study concludes that Indonesia’s regulatory framework must be adapted to address the unique challenges posed by cryptocurrency and blockchain technology while ensuring compliance with Shariah principles.
Financial inclusion is crucial for economic growth and poverty alleviation. Fintech, combining technologies like blockchain, mobile banking, AI, machine learning, and decentralized finance, offers accessible, affordable, and customized financial solutions. These services enable quick, affordable transactions, peer-to-peer lending, and microfinance platforms. A cooperative strategy involving governments, fintech businesses, public-private partnerships, and conventional banks is needed to scale fintech services while maintaining regulatory compliance and transparency. Fintech solutions utilize advanced technologies like blockchain, mobile banking, AI, machine learning, and decentralized finance to offer scalable, affordable services. These include quick transactions, peer-to-peer lending, and microfinance platforms. A cooperative strategy involving governments, fintech businesses, and banks is needed to scale fintech services while maintaining regulatory compliance.
The term “Fintech” (Financial Technology) points out software and other spearheading technologies adopted by different organizations to automate and enhance financial services. It refers to the technology that improves the backend system at traditional financial institutions. In FY22, $8.53 billion was invested in India's Fintech industry. It has been anticipated that the FinTech industry will generate around $200 billion in revenue by the year 2030, and overall throughput will be $1 trillion. Fintech is expanding quickly, yet there are several problems in the current fintech market, including interacting with legacy systems like banks, data and payment security, compliance, lack of end-user awareness, retaining users, and user experience. Due to the development of fintech, more data is now accessible in digital formats, which facilitates analysis and the generation of insights but also increases the risk of security breaches. Blockchain is a disruptive technology using which one can securely move money from one account to another without using a bank or any financial organization. The term “distributed ledger technology” is often used interchangeably with “blockchain technology” in the financial services corporation. Each transaction has a trustworthy record, thus there is no chance of changing to earlier ones. In essence, blockchain technology can completely ensure the accuracy of every transaction. In this study, the problems facing India's fintech industry are described in detail, and possible solutions employing blockchain distributed ledger technology are suggested. Additionally, it finds blockchain technology has the ability to enhance the security and competence of financial operations in the Indian fintech sector; there are challenges such as regulatory uncertainty and scalability that require to be addressed. The paper concludes with recommendations for the upcoming development and adoption of blockchain technology in the Indian fintech sector.
Mohamed Sameer S, C Selvaganesan, Н. Г. Шаронов, Vijayaragavan Muralidharan · 6 authors
In the COVID-19 era, charity applications have become the need of the hour through which such opportunities have provided hassle-free and remote donation to the needed people. However, this growing adoption raises concerns about transparency, security, and the mismanagement of donated funds. While blockchain technology holds great promise, it also faces challenges such as high costs, energy consumption, and scalability limitations. These challenges highlight the need to identify the most suitable blockchain platform for charity applications and optimize their performance. Even though numerous platforms constructed their blockchain applications based on Ethereum as it was the first blockchain with smart contract capability, newer alternatives such as Solana, Tezos, Polygon, and Binance Smart Chain come with their own advantages and disadvantages. Some of the key points used in the evaluation are transaction cost, transaction speed, security & decentralization. Solana stands out particularly in terms of speed, costs, and scalability- with 65,000 transactions per second through the Proof of History mechanism. Polygon offers low costs with great scalability by using all the benefits of the Ethereum ecosystem as well as layer-2 solutions, other advantages from Tezos and Binance Smart Chain are decentralization and the system integrity, even though the whole system lags behind in speed and cost- effectiveness. Based on performance and development environment, Solana (with Rust) and Polygon (with Solidity) emerge as leading choices for building modern charity applications. This article provides insights for developers and organizations interested in building strong, transparent, and efficient systems that tackle global issues in philanthropy.
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.