Blockchain Papers

Sujata Swain, Vikas Chouhan

No abstract is available for this record.

Suseta Datta, Rituparna Mondal, Rajdeep Roy, Sourav Banerjee · 5 authors

In the capricious digital dominion, conventional online lottery systems come across consequential impediment regarding transparency, fairness, and security. This paper presents an inventive solution by merging Blockchain technology and smart contracts into online lotteries to take forward these challenges. The preferred disperse implementation capitalizes on Blockchain's decentralized category to covenant the translucency and immutability of lottery transactions, thereby undoing the requisite for trusted interceders. Smart contracts are immersed to automate the entire lottery process-from ticket provisioning to winner selection and payout-certifying agreement to preconceived rules and reinforcing contender trust. Through meticulous perusal and enactment, illustration of how Blockchain technology can transform online lottery systems, providing users with a secure, transparent, and fair platform have been performed. Furthermore, the suggested system's resistance to recurrent deceit and its prospective impression on the online gambling industry are talked about, foregrounding the welfares of a Blockchain-drove technique to online lotteries.

Pankaj Bhambri, Marta Starostka-Patyk

Among the most talked about new technological developments in global finance are cryptocurrencies, digital assets, FinTech (financial technology), RegTech (regulatory technology), and DeFi (decentralized finance). However, very little is actually known regarding its definition, ramifications for the law, and effects on policy. This chapter aims to present DeFi, situate it within the conventional financial industry, establish a connection between DeFi and open banking, and conclude with some policy recommendations. We suggest that decentralization may jeopardize the effectiveness of traditional forms of accountability as well as traditional financial regulation and enforcement. Simultaneously, we discover that reconcentration will occur in a different (perhaps less regulated, less accessible, and less transparent) segment of the value chain where portions of the banking and financial services value cycle are decentralized. In order to guarantee effective oversight and mitigation of risks, DeFi regulation ought to focus on this refocused portion of the supply chain. DeFi&s;s main objective of decentralization actually requires control, not the reverse. Additionally, DeFi might present a chance to create “embedded regulation,” a completely new approach to regulation design. Regulatory strategies may be integrated into the DeFi architecture in its final form, which would decentralize finance, including its regulation.

Julio Aguilar, Kacper Bąk, Michael Boyle, Valerian Callens · 5 authors

Smart contract families are similar smart contract applications that are built from a shared set of assets. In this work, we show how to express smart contract families in Solidity using existing tooling. Solidity is a popular language for smart contracts on the Ethereum blockchain, which is also in use on other Ethereum Virtual Machine (EVM) compatible blockchains and layer two solutions. We are motivated to explore this because EVM-compatible chains are becoming popular but they are also making subtle changes to opcode semantics. Users can reuse Solidity smart contracts from one EVM-compatible chain to another, but may find that those contracts do not have the same behaviour. Our approach provides a method for engineering for multiple chains simultaneously, but also allows functionality to be added or ignored based on desired features. This work allows developers to quickly build software product families which can be optimized for specific target blockchains and simplify smart contract audits.

Dion Curry

Purpose This paper examines to what extent blockchain creates legitimacy and trust in different modes of public governance. It posits that while blockchain aims for political legitimacy through decentralising, immutable and consensus-based mechanisms, the execution of these mechanisms is limited in legitimating governance, which has knock-on effects on trust. It provides an original contribution by recontextualising and reframing blockchain as a governance mechanism that should, and must, perform a legitimating function in order to engender trust. Design/methodology/approach The research adopts a comprehensive framework for understanding the legitimacy of blockchain governance, positioning it in terms of co-governance, self-governance and hierarchical governance modes. It systematically analyses blockchain whitepapers, legislation, government documents and other sources in three paradigmatic case studies where blockchain governance failed. These cases are then used to assess blockchain according to three key characteristics of decentralisation, immutability and consensus. Findings The research finds that blockchain’s use in governance settings still relies on legitimacy conferred from other sources – namely state – in order to generate trust. Significant limitations in its de facto political decentralisation, immutability and consensus protocols can create failures in co-governance, self-governance and hierarchical-governance applications, thus limiting the legitimation function of blockchain in facilitating political trust. Originality/value These findings are significant in highlighting blockchain’s limitations as a decentralised, immutable and consensus-driven legitimating tool, which has knock-on effects on trust in technology and governance more broadly. It also has broader implications in more clearly highlighting the interconnectedness of political trust and legitimacy in governance processes.

Minal Shukla, Biswaranjan Acharya, Asik Rahaman Jamader

The term “ledger development” might sound like an arcane subject, but it lies at the heart of blockchain innovation. Ledgers are no longer confined to a simple record of financial transactions; they have grown into a distributed, tamper-resistant, and transparent foundation for a wide array of applications. These applications are not only transforming the financial sector but also extending their reach into supply chains, healthcare, real estate, and beyond. In this exciting era, the future of ledger development takes center stage, offering a glimpse into a world where information is not just stored but secured, shared, and harnessed with unparalleled efficiency. At the heart of this transformation are smart contracts. These self-executing, code-based agreements have the potential to eliminate intermediaries, automate complex processes, and ensure trust without relying on centralized authorities. In the world of blockchain, smart contracts are the catalysts for change, empowering individuals and organizations to streamline their operations, reduce costs, and enhance security.

Di Martino, James

Non-Fungible Tokens (NFTs) are unique digital assets which operate in a decentralised system that facilitate true digital ownership and product authenticity, leading to significant consumer interest. Despite growing interest, a gap exists in understanding the consumer journey regarding NFT purchase and consumption. This study aims to enhance comprehension of the consumer motivations and ownership intentions in NFT markets through the theoretical framework of Consumer Culture Theory (CCT). By exploring the three stages of the consumption journey - pre-purchase, acquisition and possession and post-purchase evaluation and behaviour – this research contributes to a nuanced understanding of consumer behaviour. Employing a qualitative phenomenological methodology, the study involved in-depth, one-on-one interviews with twenty-five NFT consumers. These participants were selected through purposive sampling within a virtual community to understand consumers lived experiences of NFT purchasing and consumption. The findings revealed a comprehensive consumer journey of NFT consumption. This was categorised through three stages: risk and motivation of consumption, digital ownership and market processes, and value creation and consumer behaviour. Additionally, twelve distinct personas were identified, illustrating varied motivations and behaviours among NFT consumers. Theoretical contributions include a holistic expansion of CCT research to encompass decentralised digital asset consumption, addressing a critical gap in existing literature. Practically, the findings provide valuable insights for organisations and marketing teams, enhancing their understanding of consumer motivations, ownership intentions, and value attributed to NFTs. This knowledge empowers marketers to better interact with communities, customer journeys and experiences of both current and prospective consumers of Non-Fungible Tokens.

Younes Ait Hmadouch

Decentralized Finance (DeFi) has emerged as a transformative force in the financial landscape, challenging traditional systems and offering innovative solutions. As DeFi continues to evolve, it is essential to explore its implications for the future of finance, regulation, technology, and society. This research article outlines a comprehensive future research agenda that encompasses key dimensions of DeFi, including technological advancements, regulatory frameworks, economic impacts, and societal consequences. By identifying critical areas for inquiry, this paper aims to guide scholars, practitioners, and policymakers in navigating the complexities and opportunities presented by DeFi. The findings highlight the need for interdisciplinary collaboration to foster responsible innovation, enhance financial inclusion, and address the challenges that lie ahead.

Tian Wei, Han Wu, Michael Dowling

No abstract is available for this record.

Fatima Zahra Fakir, Erdem Baydeni̇z

Focusing on smart contracts, this chapter provides technical insights into their functionality and application within the travel industry. It discusses the regulatory and legal considerations necessary for deploying smart contracts in tourism, alongside the security challenges that must be addressed. This section highlights the potential of smart contracts to automate various travel-related processes, thereby increasing efficiency and reducing costs. Additionally, it emphasizes the importance of ensuring legal and regulatory compliance to maximize the benefits of smart contracts in the tourism sector. By exploring these aspects, the chapter prepares readers to understand how smart contracts can revolutionize the travel industry by streamlining operations and enhancing overall efficiency.

Katerina Inglezaki, Nikos Katsikis, Diego Sepulveda Carmona, Mariana Pestana · 5 authors

This paper speculates on using blockchain and Decentralized Autonomous Organizations (DAOs) in agroecological regeneration, focusing on the case of Spain’s Mar Menor. It highlights the ecological challenges of intensive agriculture, drawing on theories like Haraway’s cyborg metaphor and Latour’s actor-network theory to contextualize the crisis within the interplay of human and non-human actors. The study introduces a conceptual blockchain-based prototype to automate ecosystem resilience through DAOs that manage land and agricultural practices. It proposes strategic interventions such as reforestation with nitrogen-fixing trees, cultivating flood-resistant crops, and the creation of new agro-settlements. The paper argues that blockchain technologies can optimize these strategies by enabling precise monitoring and management, thus enhancing soil fertility, sustainable agriculture, and community sustainability. It presents a vision of agroecosystems as resilient, autonomous entities capable of addressing ecological and economic challenges.

Ido Kallir, Daniel Levinson

Small and medium-sized enterprises (SMEs) are the cornerstone of the European eDaconomy, representing 99.8% of all businesses and providing 66% of employment. Despite their critical role, SMEs face significant challenges in accessing traditional financing, particularly in the aftermath of the 2008 financial crisis, which led to a reduction in riskier lending by banks. Crowdfunding has emerged as a viable alternative, offering a decentralized and democratized avenue for raising capital, especially through platforms powered by blockchain technology.This paper explores the potential of blockchain technology (BCT) to revolutionize crowdfunding within the European Union (EU), addressing the critical financial needs of SMEs. BCT enhances transparency, trust, and efficiency in crowdfunding by enabling features such as tokenization, smart contracts, and decentralization. These innovations offer solutions to longstanding issues in traditional finance, such as fraud, information asymmetry, and the reliance on intermediaries.However, the paper also highlights the limitations and challenges of crowdfunding in Europe, particularly the disparities in crowdfunding trends between the UK, Nordic countries, and the rest of the EU. Financial data from 2018 and projections for 2023 reveal that while the number of crowdfunding campaigns in the EU is growing, the per-campaign value remains significantly lower compared to the UK, reflecting a continued focus on smaller-scale investments.The integration of BCT into crowdfunding practices presents both opportunities and obstacles. Although it offers a promising path to more efficient and secure funding mechanisms, the successful implementation of BCT will require coordinated efforts from governments, regulatory bodies, financial institutions, and technology developers to navigate the complex legal and technological landscape.In conclusion, while blockchain-based crowdfunding has the potential to reshape SME financing in Europe, realizing its full benefits will demand proactive engagement with emerging challenges and continuous adaptation to evolving regulatory frameworks.

Jinghan Sun, Hongbo Zhang, Abdulmotaleb El Saddik, Wei Cai

As a bridge connecting the Web3 financial ecosystem and digital games, smart contracts empowered blockchain games have attracted significant attention from the Web3 community in recent years. By providing players ownership over assets and interoperable Non-Fungible Tokens (NFTs), blockchain games enable the reuse of in-game assets beyond the original games, thereby overturning the “walled garden” among traditional games. Nonetheless, blockchain games diminish the monopolistic edge previously held by traditional game providers, forcing them to compete with players by token distribution. Therefore, this paper explores the duopoly competition within the blockchain game market, emphasizing the role of interoperable NFTs together with NFT wear and tear. Specifically, we propose a three-stage game to formulate the interactions between game providers and players. Besides, we revealed the relationship between game providers' code disclosure strategies for NFT interoperability and token retention strategies. Finally, the experimental results demonstrate how the token distribution, players' preferences, and the NFT wear level affect the profits of game providers.

Madhusudan Naik, Akhilendra Pratap Singh, Nihar Ranjan Pradhan

No abstract is available for this record.

Lennart Ante

We investigate the motivations behind non-fungible token (NFT) ownership. Utilizing survey data from NFT owners, we identify four distinct groups based on their primary motivations: (1) Utilizers, who emphasize functional uses; (2) Socializers, motivated by community and networking; (3) Speculators, focused on profit potential; and (4) Aesthetes, who appreciate artistic and cultural aspects. Our analysis indicates that individual traits such as risk-taking, impulsivity, and investment knowledge significantly influence group membership. These findings suggest that NFT users are a diverse cohort with varied motivations rather than a homogeneous group.

Areej Alhogail, Mona Alshahrani, Alanoud Alsheddi, Danah Almadi · 5 authors

The transportation industry has been recognized as one of the industries that can benefit from investment in blockchain-based systems and services that enable distributed data management and improve the effectiveness and efficiency of the transportation sector. However, the literature needs a guiding framework for integrating blockchain in issuing and preserving public transportation transactions in a technical environment that is secure, efficient, and transparent. This study proposes a blockchain-based transportation wallet (BTW) framework that facilitates the main digital transactions across diverse public transportation services. BTW embodies leveraging blockchain technology, which provides a decentralized and immutable ledger that records and verifies transactions, ensuring trust and reducing the risk of fraud. The framework has been validated by developing a blockchain-based public transportation smart wallet named “RideChain”. This serves as a single decentralized point for making public transportation transactions and payments, as well as identity authorizations and management. RideChain enhances passengers’ and service providers’ experience through a secure and authentic platform for offering several reliable public transportation transactions efficiently. In this study, we implemented a smart contract to establish a protocol between passengers and journey services. The testing methodologies used in this study comprise unit testing, integration testing, performance testing, and user acceptance testing. The findings suggest that BTW has been successfully verified to demonstrate its capability for secure transactions, authenticity of monetary transactions, automated smart contracts, decentralized identity authentication, and effortless payments.

Nandini Sharma, Medha Khenwar, Shobit Agrawal, Sonika

The purpose of this paper is to explore and illuminate the diverse applications of blockchain technology across various sectors, including banking, crowdsourcing, finance and insurance, healthcare, copyright management, e-government, the public sector, distribution systems, logistics and supply chain management, and education. By examining its uses, advantages, and disadvantages, this paper aims to provide a comprehensive overview of how blockchain is revolutionizing these fields. Known for its unparalleled integrity and security, blockchain offers a reliable and secure framework that operates without the need for third parties. This paper not only aims to enhance the understanding of blockchain's current applications but also to identify emerging trends and potential new uses, providing valuable insights for future researchers.

Zihan Yu

This case study explores the evolution and strategic trajectory of Xiaohongshu, a pioneering social commerce platform in China. Founded in 2013 by Miranda Qu and Charlwin Mao, Xiaohongshu has redefined consumer engagement by seamlessly integrating social media with e-commerce functionalities. Initially conceived as an online guide for Chinese shoppers abroad, the platform quickly developed into a vibrant community where users share product recommendations, reviews, and lifestyle insights. Xiaohongshu's strategic pivot on social commerce in 2014 marked a significant milestone, enabling direct product purchases within its app and fostering a dynamic ecosystem of user-generated content. The case examines Xiaohongshu's growth trajectory, challenges such as counterfeit goods, and strategic initiatives, including influencer marketing and blockchain integration. With a focus on expanding its user base, enhancing e-commerce capabilities, and exploring emerging technologies like Web3, Xiaohongshu continues to shape the future of digital commerce in China's competitive market landscape.

Behzad Maleki Vishkaei, Pietro De Giovanni

Abstract This study examines how smart food‐sharing platforms (SFSP) can help reduce food waste and suggests a method for using smart contracts to share extra food among different partners effectively. For smart contracts to work automatically and prevent food wastage, artificial intelligence systems can recognize how smart clauses should be executed. This will involve analyzing several factors like the selling price, expiration dates, offers from other partners, transport costs, wholesale price, shelf life, donation rates, and demand rates. The findings indicate that adopting an SFSP is an efficient solution for preemptively adopting redistribution strategies and improving social outcomes through donations as well as achieving positive environmental outcomes through reduced waste. However, we also identify cases in which reducing food waste to achieve social sustainability may negatively impact economic performance.

Roberto Cerchione

Abstract The purpose of this study is to design, develop and evaluate a blockchain platform in the field of circular economy (CE). To achieve this aim, the research demonstrates the feasibility of designing a decentralised architecture and prototyping a distributed system to increase customer engagement in the transition toward CE. Building on previous research and leveraging on the design science research approach, the paper identifies the technical and managerial issues that must be addressed to adopt blockchain as an enabling technology in the CE domain. More in details, starting with the identification of circular sharing economy (CSE) processes, a conceptual framework was designed to evaluate how blockchain implementation has the potential to enhance the role of customers involved in CSE processes. As for the practical implications, the suggested conceptual framework reduces the knowledge gap between blockchain developers and corporate social responsibility specialists. To bridge the gap, it identifies future directions and practical guidelines for designing and implementing blockchain to support the digital and sustainable innovation of more circular firms and supply chains.

William P. Rey, Kieth Wilhelm Jan D. Rey

This study explores the landscape of motorcycle loans in the Philippines, emphasizing their pivotal role in transportation and livelihoods. It introduces Motorsiklo Trade, a blockchain-powered platform designed to revolutionize motorcycle loan management. The objectives include developing an intuitive web platform, implementing smart contracts, and assessing system usability. Results indicate efficient loan processes, high user satisfaction, and enhanced transparency. The integration of blockchain and smart contracts holds promise for transforming motorcycle finance, promoting efficiency, and driving technological innovation.

Debanjalee Bose, Kathiravan Srinivasan

Blockchain technology has revolutionized gig finance payments by introducing decentralization, transparency, and security. The decentralized nature of blockchain enhances security by eliminating the need for a central authority. Tokenization, a significant aspect of blockchain in the gig economy, involves digitalizing gig work, skills, and rewards through cryptographic tokens, and creating standardized representations. Smart contracts in gig finance are computer programs operating on blockchain, automating payment processes and enhancing transparency. The integration of smart contracts in gig finance automates processes, enhances transparency, and reduces disputes, contributing to a more efficient and reliable financial ecosystem within the gig economy.

William P. Rey, Kristel Eunice R Defensor

This study explores the integration of blockchain technology and smart contracts into the loan management processes of Kaagapay Cooperative, a cooperative organization in the Philippines. The research aims to enhance transparency, security, and efficiency in cooperative finance by leveraging innovative technologies. Through a quantitative research approach and qualitative data-gathering methods, the study assesses the current loan management practices, designs a user-friendly web platform, and evaluates the effectiveness of smart contracts in automating loan-related tasks. Performance testing and usability evaluations demonstrate the platform's effectiveness, with high scores indicating excellent web performance and user satisfaction. The results highlight the transformative potential of blockchain-enabled loan management systems in cooperative finance, offering valuable insights for similar initiatives in other cooperative organizations. Ultimately, this research contributes to the advancement of cooperative finance and blockchain technology, fostering financial resilience and innovation in communities.

Alex Khang, Toshi Dave, Dattatray Katore, Babasaheb Jadhav · 5 authors

The gig economy has seen a significant change lately, reclassifying the idea of work and business connections. With the ascent of independent and gig-based open doors, the requirement for proficient and secure payment frameworks has become progressively obvious. This part fills in as a prologue to the advancing scene of the gig economy, revealing insight into the verifiable setting, the changing elements of work, and the rise of blockchain and shrewd agreements as groundbreaking advancements for gig payments.