It is well known that the introduction of Blockchain in the agri-food sector represents a digital innovation aimed at increasing business income through the reduction of production inputs (and therefore of production costs expressed at constant prices) and/or the increase of output (increase in the quantity produced and therefore in revenues expressed at constant prices). According to Schumpeter, innovation and entrepreneurship mainly depend on innovative people, their skills and knowledge. In fact, digital innovation is always aimed at increasing the competitiveness of the company and can concern an improvement in technical and economic efficiency. On an existing company structure, efficiency concerns an optimization of the variable production factors to be used in the production process (reduction of variable costs: example quantity of water used; quantity of fertilizers to be used according to seasonal trends; quantity of pesticides to be used) which have repercussions on the structure of the cost of production and therefore positive effects on the net income of the entrepreneur. In the present study after examining the economic theory of innovation, through the theory of value examined why agri-food companies should adopt innovations such as the Blockchain. The study highlights that digital innovations can be implemented by entrepreneurs according to company size and with a view to increasing the value of production and that the affirmation of innovation requires long periods of time.
Pedro Henrique F. S. Oliveira, Daniel Muller Rezende, Heder S. Bernardino, Saulo Moraes Villela · 6 authors
Um dos principais eventos que envolve a economia mundial em 2022 ÃĐ o conflito entre RÚssia e UcrÃĒnia. Esse evento oferece uma oportunidade Ãmpar para analisar como acontecimentos dessa magnitude podem refletir no uso de criptomoedas. Este trabalho busca investigar o comportamento de contas e suas transaçÃĩes na rede de criptoativos Ethereum durante esse evento. Para tal fim, coletamos todas as transaçÃĩes realizadas duas semanas antes e duas semanas apÃģs o inÃcio do conflito, organizadas em dois grupos: o conjunto das contas envolvidas nessas transaçÃĩes e o subconjunto dessas contas que interagiram com um serviço dentro do Ethereum, chamado Flashbots Auction. EntÃĢo, modelamos grafos temporais em que cada vÃĐrtice representa uma conta e cada aresta representa uma transaçÃĢo realizada entre duas contas. Analisamos o comportamento dessas contas via mÃĐtricas de grafos para ambos os grupos durante cada semana observada. Os resultados mostram mudanças no comportamento e atividade de contas, bem como variaçÃĩes no volume diÃĄrio de transaçÃĩes.
Currency dominance has been the symbol of national power, influence, and dominance. After the Second World War, the Dollar has maintained its unrivaled influence as a currency reserve by central banks and as a global transaction currency. Recently, cryptocurrency and the distributed ledger system were seen as a challenge. However, due to the challenge it poses to the sovereignty of nation-states, central banks have resorted to developing the central bank digital currencies (CBDCs). China is the only major economy to have tested a CBDC, a symbol of its increasing economic power and innovation. Contrary to Mearsheimerâs theory of offensive realism, developments show that China can use its offensive economic capabilities to build a regional order through the belt and road initiative (BRI). With the recent release of its Central Bank Electronic Payment and the Blockchain-based Network System, China can seek to regionalize the use of its renminbi (RMB) and rival the power of the Dollar.
Purpose â the main aim of this article is to identify cryptocurrencies suitable for investment and portfolio diversification. Research methodology â the methodology of empirical research includes methods of scientific literature analysis, statistical data analysis, multicriteria evaluation, correlation analysis. Findings â Bitcoin is the leading cryptocurrency, but this result could have been due to an exceptionally high market capitalization. Based on the results of the analysis, the inclusion of Bitcoin, Etherium and Dogecoin in the investment portfolio of S&P500, Euro Stoxx 50, DAX and CAC 40 indexes could be considered. Terra could be an interesting investment when considering the benefits of diversification. Research limitations â based on the results of the study, the inclusion of all studied cryptocurrencies in the investment portfolio could be considered in order to diversify the portfolio, taking into account their investment attractiveness. Practical implications â Cryptocurrencies attract investors not only because of the returns they receive, but also because of the absence of intermediaries, which allows them to reduce transaction costs. High returns are associated with high risks, so it is necessary to conduct as much research as possible to identify the benefits of cryptocurrencies and to find risk management strategies. One such benefit of cryptocurrencies highlighted in research is diversification. Originality/Value â the novelty of the study lies in evaluation of 10 selected cryptocurrencies according to different criteria using a multi-criteria valuation method to identify cryptocurrencies that are non-correlated or weakly correlated with traditional assets and the most suitable for investment and for portfolio diversification.
YaÅanur KayÄąkÃ§Äą, NazlÄącan GÃķzaçan, Abderahman Rejeb, K. Mathiyazhagan
Abstract The growing importance of the circular economy has emphasised optimal utilisation of resources within the constraints of economic development and protection of the environment. Digital technologies associated with Industry 4.0, such as blockchain, facilitate the implementation of circular economy principles throughout the supply chain. However, because blockchain implementation in the supply chain is still in the early stages, realâworld examples of the blockchainâbased circular supply chains (CSCs) are limited. The principal purpose of the paper is to examine the critical success factors (CSFs) for implementing blockchainâbased CSCs. Following that, 10 CSFs are identified through a short systematic literature review, and then, the integrated fuzzy cognitive mapping and fuzzy bestâworst method (FCMâFBWM) is implemented to examine CSFs for the blockchainâbased CSC. The study's main findings demonstrate that network collaboration is the best CSF, while the shared circular economy toolbox is counted worst of all. This research enriches the literature by identifying the CSFs for implementing blockchainâenabled CSCs to address the lack of a suitable decisionâmaking framework that assists managers in comprehending how blockchain technology can be adopted in the circular economy context. Implications for theory and practice are also discussed, offering new insights into the measures necessary to ensure successful blockchain implementations in CSCs.
Blockchain technology has been around for more than ten years, nevertheless, the knowledge about its economic and business implications is still fragmented and heterogeneous. The present article intends to tackle this issue with a twofold contribution. The first is an analysis of the shift from economics to tokenomics highlighting the central role played by tokens within blockchain-based ecosystems. The second is a framework for tokens design leveraging a morphological analysis deeply grounded in the literature. As blockchain becomes a mainstream phenomenon, the value of the work proposed lies in lowering the cognitive barriers and in clarifying the space of available options for private and public actors willing to leverage tokenization in their daily operations.
The promise of TradeTech â the set of technologies that enables global trade to become more efficient, inclusive and sustainable â is multifaceted, from trade facilitation to efficiency gains and reduced costs, to greater transparency and resilience of supply chains. Of particular interest for this publication is the potential of artificial intelligence (AI), blockchain and distributed ledger technology (DLT) and the internet of things (IoT) to shape the global trade ecosystem.
In the past few years, along with the crypto assets market, a new term has appeared: stablecoins. Unlike cryptocurrencies, however, not so much research has been devoted to this topic. The emergence of global stablecoin projects, a significant increase in the volume of investment initiatives, and growth in the number of transactions have forced central banks to seriously pay attention to these in order to ensure financial stability as one of their functions. This topic is undoubtedly relevant due to the novelty of the concept which has appeared. The purpose of this article is to study the economic essence of stablecoins, their types, and the current state of this market. The methods of comparative analysis as well as critical and systematic approach to the study of information are used in the work. Existing ways to define the concept of stablecoins are investigated. The classifications of stablecoins and the main types of the most reliable coins on the market are examined. The current state of the stablecoin market is analyzed. As a result of the study, a number of conclusions have been made. Despite the lack of a legally fixed and generally accepted definition of stablecoins, in general, stablecoins are tokens secured by different types of assets. The economic essence of stablecoins is revealed through the goals of their creation, types of security and stabilization mechanisms, as well as the nature of the relationship between the issuer and the owner of the stablecoin. Over the past three years, the stablecoin market has grown almost fivefold. Such growth means significant penetration into the payment system, and then into the global financial system, which requires the development of international regulatory standards to minimize possible risks and preserve financial stability. The prospects for the development of stablecoins are associated with the creation and promotion of digital currencies of central banks (central securities) and cross-border payments in one or more central securities.
Alberto Partida, Saki Gerassis, Regino Criado, Miguel Romance · 6 authors
In this article, we model the two most market-capitalised public, open and permissionless blockchain implementations, Bitcoin (BTC) and Ethereum (ETH), as a System of Systems (SoS) of public blockchains. We study the concepts of blockchain, BTC, ETH, complex networks, SoS Engineering and intentional risk. We analyse BTC and ETH from an open SoS perspective through the main properties that seminal System of Systems Engineering (SoSE) references propose. This article demonstrates that these public blockchain implementations create networks that grow in complexity and connect with each other. We propose a methodology based on a complexity management lever such as SoSE to better understand public blockchains such as BTC and ETH and manage their evolution. Our ultimate objective is to improve the resilience of public blockchains against intentional risk: a key requirement for their mass adoption. We conclude with specific measures, based on this novel systems engineering approach, to effectively improve the resilience against intentional risk of the open SoS of public blockchains, composed of a non-inflationary money system, âsound moneyâ, such as BTC, and of a world financial computer system, âa financial conduitâ, such as ETH. The goal of this paper is to formulate a SoS that transfers digital value and aspires to position itself as a distributed alternative to the fiat currency-based financial system.
The supply network becomes more fragile as it becomes more complex, affecting the core firmâs performance. While previous research on supply network complexity existence paradox. Therefore, to study the nature of supply network complexity, this paper divides the supply chain complexity utility into positive and negative valences based on the valence framework and divides supply chain complexity into supply base complexity, customer base complexity, and logistics base complexity. Based on the trustworthiness and transparency characteristics of blockchain technology, this paper investigates how to use blockchain technology to reduce the negative valence of supply chain complexity while adapting to or improving the positive valence to improve enterprise competitiveness and supply chain sustainability. As a result, the focus of this paper is on how to better manage supply chain complexity using blockchain technologies to increase supply chain sustainability and viability.
Financial innovation has given great importance to sustainability. The Sustainable Finance Strategy represents one of the central points of the European agenda, and Fintech offers important opportunities in this field. However, some âvaluableâ Fintech instruments seem to not have been adequately considered. The reference is to Bitcoin and to the âcrypto-industryâ. The most common public belief about Bitcoin and sustainability is that Bitcoin is polluting the ecosystem. Immediately, the concept is extended to Distributed Ledger Technologies (DLTs), to blockchain and to all related innovations. Notwithstanding this, some research shows that there is still some uncertainty on the precise amount of energy used by Bitcoin-related activities and on how to calculate it. The scope of this paper is to make give some clarity on this uncertainly in order to show, on the one hand that DLT is not âpollutingâ, but that pollutions come from the way each miner decides to conduct their businesses. On the other hand, a DLT system can be considered sustainable thanks to its capacity to solve a various number of environmental problems ârelatedâ to how businesses are conducted.
Digital transformation is emerging as a cornerstone of strategies aimed at addressing pressing global sustainability challenges, from climate change to resource scarcity and social inequality. By leveraging technologies such as artificial intelligence (AI), blockchain, the Internet of Things (IoT), and cloud computing, societies are beginning to unlock new pathways for decarbonization, efficiency, and inclusive growth. AI and advanced analytics provide predictive insights for optimizing energy use, climate modeling, and resource management, while blockchain ensures supply-chain transparency and facilitates the verification of carbon credits. IoT-enabled systems and smart infrastructure enhance efficiency in energy distribution, agriculture, transportation, and manufacturing, contributing to circular economy practices and reduced environmental footprints. At the same time, cloud platforms and digital finance solutions democratize access to green technologies and sustainable investment opportunities. The transformative potential of these technologies extends across multiple sectors. In the energy domain, smart grids and decentralized renewables supported by digital integration are reshaping power systems. In agriculture, precision farming and digital supply chains reduce waste and improve productivity. Financial innovations, such as fintech-enabled green finance, are mobilizing capital toward sustainable projects, while e-governance platforms enhance transparency and data-driven policymaking for climate action. However, significant challenges remain. The digital divide threatens equitable access, while the energy demands of data centers and blockchain raise concerns about the carbon footprint of digital infrastructures. Cybersecurity, privacy, and governance gaps also pose risks that could undermine trust and resilience. Addressing these issues requires robust policy frameworks, publicâprivate partnerships, and capacity building to ensure responsible, inclusive, and ethical innovation. Ultimately, digital transformation represents not only a technological shift but also a socio-economic opportunity to build resilient, net-zero, and equitable futures. Unlocking its full potential requires aligning digital innovation with global sustainability imperatives.
Francisco JareÃąo, MarÃa de la O GonzÃĄlez, Pascual Belmonte
<abstract><p>Using NARDL methodology, this research investigates some asymmetric and non-linear interconnections between leading cryptocurrency and commodity returns. Thus, this study explores potential interconnections between these cryptocurrencies and commodity markets in the period between March 07, 2018, and March 26, 2021. This paper splits the entire sample period into two independent sub-periods in order to enhance robustness: pre-COVID and COVID, to examine the impact of the pandemic on these markets. Our results confirm that the most relevant interconnection (in terms of cointegration, short- and long- asymmetry, and the persistence of the lags) between cryptos and commodities is focused on COVID-19, the pandemic sub-period, in line with previous literature. Finally, the study reveals that some cryptocurrencies such as Tether could serve as a diversifying asset or even a safe haven, in certain scenarios, in investment strategies.</p></abstract>
There is a lot of hope that blockchain technology may be used to standardize money transactions and increase access to banking. It is believed that regulators and industry professionals have looked into the possibility of using blockchain technology to modernize and even replace the infrastructure that currently supports international payments and remittances, such as correspondent banking, in order to ensure that transactions can be verified and recorded using blockchain technology in a distributed ledger. The purpose of this study was to analyze how blockchain technology has helped to include previously underserved populations in the mainstream financial system, and to remark on the best practices and lessons learned from sustainable development. Using a systematic literature review, the study discovered the many ways in which blockchain technology can facilitate digital financial inclusion, including its application in financial transactions, its utility as a tool for increasing financial savings, its use in the provision of credit, and its application in the provision of insurance. According to the findings, even though the global goals do not specifically target financial inclusion, providing access to financial services for the majority of the population is a critical enabler for several of the global goals. Therefore, the study concluded that sustainable development can be ensured on many fronts if the technology behind blockchains can be successfully used to improve financial inclusion. If governments, especially in developing countries, are serious about increasing citizensâ access to financial services, they must prioritize blockchain investment.
Sarah Ashok Sonje, Rohan Sanjay Pawar, Shekhar Shukla
Education forms the basic fabric of human life, and nations invest heavily in providing free basic education. However, these programs face serious issues, including financial mismanagement, fraudulent teaching practices, lack of actionable feedback mechanisms, and diversion of benefits. Thus, there is an urgent need for these programs to innovate with respect to their requirements through better alternatives or solutions. We propose a cognitive analytics management (CAM) framework-based assessment for blockchain-based technological innovation in the government-aided free basic education system in India. Value-focused thinking, a multicriteria decision analysis aid for the creation of optimal decision alternatives, is used here as a cognitive tool of the CAM process for interacting with key stakeholders. Fuzzy cognitive maps are used as an analytics tool for scenario planning to assess blockchain innovation. On the basis of the convergence of the cognitive and analytics phases, we present management-based actionable insights. The practical contributions of this article are 1) an approach that models the cognitive premises of stakeholders into quantified actionable insights for blockchain innovation, 2) a clarification of the importance of phasewise and selective adoption of blockchain innovation in facilitating optimal success scenarios, and 3) a demonstration that the CAM framework is a valuable tool for assessing innovation systems in varied contexts.
This paper presents the main issues on competencies and knowledge, risks and challenges in performing internal audit when adopting blockchains. The main purpose is to propose a framework for stages, procedures and elements for an internal audit plan in organizations that implement blockchains in smart crop production. It is analyzed basic elements of blockchain technology, characteristics and functions of internal audit and internal control, the impacts of blockchains implementation on organization and focus areas affecting human, financial and technical resources, risk identification, blockchain control procedures, risk management and mitigation. It is presented example of suggested framework for internal audit plan.
During the 1990s Morocco implemented a series of major institutional and economic reforms that made the country politically stable and helped it to withstand the destabilizing effects of the Arab Spring. Political reforms resulted in the adoption of a new constitution in 2011, was followed by initiatives to improve justice, public administration, the fight against corruption, and to strengthen governance, transparency, and ethics in public life. The country also embarked on a regionalization of public policies and decentralization of administration to ensure an integrated and durable regional development. This reform momentum was further emphasized by the King of Morocco when in his 2019 throne speech he stressed that &ldquo;&hellip; the stake is thus to rebuild a strong and competitive economy, by encouraging the private initiative, while launching new productive investment plans and by creating new job opportunities&hellip;&rdquo; During two last decades Morocco recorded relatively solid economic and social results due to significant public investments and structural reforms aiming to: (i) stabilize the macroeconomic framework by reducing domestic and external vulnerabilities, in particular through the gradual suppression of subsidies for energy products and some foodstuffs; (ii) improve the framework of management of public finance through the adoption of a new Organic Law of Finance in 2015; and (iii) support the diversification and the competitiveness of the national economy. Morocco also reinforced its sectorial policies through plans for sector development aiming at enhancing the economic growth potential and the creation of jobs, including in the manufacturing sectors with significant added value in sectors such as the automotive, aeronautics and pharmaceutical products. The Moroccan economy has demonstrated an appreciable resilience in the face of an international context characterized by a succession of crises. The rate of growth of real GDP improved on average annually from 3.1% during the 1990s to nearly 4.2% on average annually between 2007 and 2018, sustained by the tertiary sector&rsquo;s dynamism which posted an increase in its value added of 4.2%, contributing of 2.1 points in the GDP (Figure 1). The secondary sector also showed a similar tendency with a 3.3% increase in added value, carrying with it 0.9 percentage points contribution in economic growth, while the primary sector added value grew by 4.4% for a contribution to the growth of the GDP of 0.6 point (DEPF, 2019).