Digital Tokens Research Articles

Medi-Crypt: Patient Data Management System Using Blockchain

Abstract: In the era of digital healthcare, safeguarding patient data has become a challenge. MediCrypt leverages blockchain technology to revolutionize the management of medical records, offering a decentralized and tamper-proof system that prioritizes security, privacy, and accessibility. By integrating robust encryption mechanisms and smart contracts, MediCrypt ensures that patient information remains confidential while enabling authorized access for healthcare providers. Alongside secure patient data management, Medi-Crypt integrates insurance features, enabling personalized health coverage and efficient claims processing. Patients can manage their policies as secure digital tokens, simplifying claim validation and payment settlements via smart contracts. The system’s architecture promotes interoperability, allowing seamless data exchange across diverse platforms. Designed with scalability and user empowerment in mind, MediCrypt establishes a new benchmark for efficient and secure healthcare data management, transforming how sensitive medical information is handled and shared

Digital Property and Civil Law: Navigating legal challenges and opportunities in Albania’s evolving legal framework

Abstract In the rapidly evolving landscape of the digital age, the concept of property has expanded beyond traditional physical assets to include intangible forms of ownership such as digital property. This transformation presents significant challenges for civil law, especially in Albania, where legal frameworks have struggled to keep pace with technological advances. This article explores the definition of digital assets, focusing on the assessments that organizations, law institutions or states have made regarding the disposition, transfer and protection of these assets. The article examines how Albanian civil law, rooted in traditional notions of property and inheritance, addresses issues related to digital rights, including digital asset management, digital tokens, and broader applications within blockchain ecosystems. Through an analysis of national and international legal perspectives, the article identifies the main challenges in adapting existing laws to the challenging complexity of digital ownership. It also proposes possible mechanisms to ensure the effective integration of digital property within Albania’s legal system, drawing on legislative models from other countries. By bridging the gap between technology and law, this manuscript aims to provide insight into how Albania can navigate the legal complexities of digital property and protect individual rights in an increasingly digital world.

Decentralized peer-to-peer energy trading in microgrids: Leveraging blockchain technology and smart contracts

Microgrids are regarded as vital components in contemporary realm of energy system improvement, resilience, and sustainability. In this paper a novel decentralized peer-to-peer energy trading system leveraging blockchain technology is proposed. The proposed model not only demonstrates the implementation of blockchain technology in microgrids but also transforms the energy sector by emphasizing decentralization, security and efficiency. This research aims to enhance the energy trading system by including smart contracts written on the Ethereum network. Energy Token and Demand Response contracts are integrated to enable dynamic interactions inside microgrids, which leads to a transparent, secure, and efficient energy trading system. Moreover, automation of energy transactions and elimination of intermediaries ensure cost effectiveness and utilization of excess energy potentially reduce dependency on the main grid. A microgrid system is designed in Simulink for distributed energy trading. Energy credits are represented by standard ERC-20 digital token and then demand response contract dynamically adjusts rewards and energy prices based on energy production and consumption. the ERC-20 contract manages the token transaction and then demand response contract enforces governance rules. The purpose of a demand response contract is to enable the automatic and efficient control of energy usage in response to changing demand and supply conditions. The use of the Web3 library further facilitates a direct and smooth connection between the blockchain network and microgrids. The results demonstrate the successful implementation of both smart contracts, making trading possible at noon when the combined generation from solar array and energy management system exceed the energy demand.

Comprehensive Survey on E-Commerce and Blockchain

The rapid growth of e-commerce has led to an increasing demand for secure, transparent, and efficient transactions. This project presents an e-commerce platform built on blockchain technology, aiming to address the challenges of traditional online marketplaces, such as fraud, data breaches, and intermediaries' fees. By leveraging blockchain's inherent characteristics— immutability, transparency, and security—our platform facilitates seamless transactions between buyers and sellers, reducing reliance on intermediaries and lowering operational costs.  Key Features of the Platform Include:  Payment Processing: Integration of cryptocurrencies enables fast and secure payments, facilitating cross- border transactions without the need for banks or other intermediaries.  Product Authenticity: Tokenization of physical products as digital assets ensures authenticity and traceability, particularly valuable in industries like fashion, luxury goods, and art.  Customer Data Privacy: Customers retain control over their personal information, deciding what data to share with merchants, enhancing privacy, and ensuring compliance with global data regulations.  Loyalty Programs and Rewards: Digital tokens and reward points can be issued that are transparent, transferable, and usable across various platforms, making loyalty programs more versatile and valuable.  Decentralized Reviews and Ratings: The integrity of product reviews is ensured by using blockchain to prevent manipulation, making customer feedback more trustworthy. To demonstrate the feasibility of the platform, we implement features such as user registration, product listing, secure payment processing using cryptocurrency, and an efficient dispute resolution mechanism. Through a user-friendly interface and robust backend architecture, this blockchain-based e-commerce solution aims to redefine the online shopping experience, providing enhanced security, lower costs, and greater trust for all participants in the ecosystem.

Speech Act Strategies of Customer Service Officers of Internet Provider Company in WhatsApp Group Interactions

This study investigates the speech act strategies employed by customer service officers (CSO) in an internet provider company while interacting with customers via WhatsApp Group (WAG) chats. The research aims to identify and analyze the types of speech acts used and examine how cultural and digital token factors specific to Javanese communication norms influence these interactions. In 60 days, data was collected from WAG conversations between customer service representatives and clients using the non-participative observation method. Depth interviews were also conducted with the five CSOs. The analysis employed Speech Act Theory and considers the unique context of computer-mediated communication. Results revealed that CSOs frequently utilized commissive speech acts, confirming speech acts, directive speech acts, phatic speech acts, and expressive speech acts with specific purposes. Culturally, the speech acts were employed to maintain harmony and mitigate potential face-threatening situations. The study also highlights how the CSO adapts traditional Javanese communication styles to the digital medium of WhatsApp. Theoretically, these findings contribute to our understanding of cultural pragmatics in professional settings and empirically offer insights for training customer service personnel in culturally diverse contexts. Furthermore, the research underscores the importance of considering cultural nuances in developing effective communication strategies for digital customer service platforms.

Crypto airdrops: An evolutionary approach

Airdrops are a mechanism by which blockchain-based projects distribute digital tokens to users at zero cost. Billions of dollars of tokens have been airdropped for reasons such as marketing and decentralisation. The distribution criteria that projects have designed (e.g. previous user activity on the platform) have become more complex as different types of users adapt to receive a larger airdrop. This paper argues that coevolutionary theory can help us to understand the unique phenomenon of airdrop design, where participants (projects and users) strategically adapt over time and across different blockchain ecosystems. Nine airdrop case studies show an expanding set of innovative airdrop strategies (e.g. airdrops requiring additional activities to claim). The evolutionary analysis also implies changes in airdrop design (e.g. multi-round airdrops to facilitate learning) and further strategic innovation. Ultimately, this paper offers a new platform to apply the tools of evolutionary economics, exploring a unique process of innovation and evolution.

Legal Protection of Copyrighted Works Non-Fungible Token (NFT) in Digital Business

<p>The purpose of this study is to find legal protection for Non-Fungible Token (NFT) copyrighted works in digital business. In today's digital business, the NFT (Non-Fungible Token) phenomenon is no longer foreign to millennials. NFT is a digital token used to represent ownership or rights to a digital work in the <em>blockchain chain</em>. In the context of copyright protection, NFT can be used to provide proof of ownership and authentication of unique digital works in digital business. NFT covers several aspects and broad applications, namely in the fields of art, music, games, virtual property, etc. This study is limited to NFT in the field of digital art. This shows that the field of digital art in the NFT application has become an idol for millennials to get economic value in addition to its legal protection. This research is a legal research normative with approach qualitative, concept, legislation. Method data collection through secondary data by taking previous research related to NFT protection. The analysis method is carried out qualitatively. The results of the study indicate that the legal protection of NFT copyrighted works in digital businesses has not been specifically regulated in Article 40 of Law Number 28 of 2014 concerning Copyright, so that further regulations are needed to protect copyrighted works applied in NFT to anticipate digital businesses that do not detrimental to the parties.</p>

DYNAMICS OF THE UKRAINIAN BANKING SYSTEM’S ATTRACTION AND USE OF CASH SURROGATES

This study is devoted to the analysis of transformations in the use of monetary surrogates within the Ukrainian banking system from 2015 to 2023. Through an extensive examination of financial data, key factors driving the rising prevalence of electronic money and cryptocurrencies have been identified. This phenomenon unfolds against a backdrop of profound technological shifts and economic volatility, compounded by regulatory challenges. The findings underscore a strong interconnection between technological advancements, changes in consumer behavior, and the evolution of the regulatory framework. A notable increase in the volume of electronic money transactions, coupled with the significant expansion of the cryptocurrency market, points to a paradigm shift from traditional banking services towards novel financial instruments. Specifically, electronic money, cryptocurrencies, and digital tokens are emerging as prominent alternatives to conventional currency, offering users avenues for conducting transactions and preserving value amid economic instability. The research also provides an in-depth analysis of the regulatory hurdles confronting financial institutions and government agencies, particularly regarding adherence to anti-money laundering (AML) protocols and know-your-customer (KYC) regulations, alongside the imperative to safeguard consumer rights amid heightened cryptocurrency market volatility. Furthermore, this study addresses the potential long-term ramifications of the proliferation of monetary surrogates on Ukraine’s banking system, including shifts in conventional banking practices, potential risks to financial stability, and implications for monetary policy. Despite notable progress in the integration of new financial technologies, several unresolved challenges persist, particularly concerning the provision of adequate regulatory support for innovation while maintaining the stability of the financial system. In conclusion, this research offers a valuable contribution to the understanding of how technological development and socio-economic changes are reshaping financial systems in emerging economies, with a particular focus on Ukraine. The insights derived from this study may prove instrumental for policymakers and financial institutions as they navigate the evolving conditions and challenges of a rapidly transforming financial landscape.

Trading electricity using tranched power delivery contracts

ABSTRACT This letter proposes a novel way to apportion real-time renewable generation outputs between diverse token holders, using a novel tranching mechanism. This novel tranching structure is proposed to better manage the unpredictability of renewable power delivery and also as a case study of the exotic new instruments that could be offered in decentralized electricity marketplaces. Under this framework, a wind farm directly sells claims on their future power output in the form of a digital token. The realized generation then offsets the token holders’ electricity consumption in near real-time. Two ways of structuring such forward delivery instruments are considered: a tranched system, where more senior token holders enjoy priority claims on available outputs, as compared against a pro-rata scheme, where the realized generation is equally apportioned between token holders. A notional market simulation is provided to explore how consumers may exploit the distinct power delivery profiles.

Design of a chatbot in a mobile application for managing payments and controlling activities in a fast school organization

The fast school (FS) educational organization, like many contemporary educational institutions, faces challenges in efficient payment management and rigorous control of activities. Technology, particularly through mobile applications, has shown to be a potential solution to these problems, allowing institutions to stay at the forefront and provide optimized services to their educational community. Therefore, this research work focuses on how a chatbot, integrated into a mobile application, can improve payment management and control of activities in the FS educational organization. Through a detailed study on current trends in educational technology, the design and development of a chatbot adapted to the specific needs of the organization is presented. This chatbot not only facilitates payment processes, offering immediate responses and managing transactions, but also allows for more efficient control of academic and extracurricular activities, improving the experience of its users. In conclusion, the integration of chatbots in mobile applications is presented as a viable and promising solution to face and overcome management challenges in modern educational environments, providing adaptive and user-centered tools that enhance the operational efficiency of institutions. This work is developed with the Scrum methodology and presents a security gateway validated by a digital token.

Football finds alt-finance: can GPE locate leisure?

This commentary calls for GPE to reconsider its neglect of leisure. It traces growing overlaps between leisure and digital economies through the case of fintech in men’s elite football, focusing on the growing issuance of blockchain-based digital tokens by clubs and leagues worldwide since 2018. The fan token example is used to illustrate how locating seemingly esoteric developments more widely in digitisation trends politicises leisure activities. It suggests that a focus on infrastructuring and governing in particular may help draw attention to the politics of contemporary transnational activities that blur the boundaries between sectors as well as work/leisure in the digital age.

Financial contagion in cryptocurrency exchanges: Evidence from the FTT collapse

To what extent does the collapse of a digital token spread contagion across cryptocurrency markets? How do markets incorporate information in this turbulent setting? We examine contagion effects across major digital exchanges during the collapse of the FTX exchange and its token, FTT. We find evidence of contagion across crypto exchanges. We also examine the information cascade effects of other crypto assets on FTX when nearly all withdrawals were prohibited. We find abnormal returns for major assets, indicating a flight to safety from less to more authoritative digital assets. The implications for traders, exchanges, and policymakers are discussed.

Blockchain Revolution in Asset Management: A Comprehensive Analysis and Implementation Framework

A project that presents the harnesses blockchain technology to develop a Token Asset Management System (TAMS) aimed at revolutionizing conventional asset management practices. TAMS leverages the decentralized and transparent nature of blockchain to create digital tokens representing ownership or rights to various assets. These tokens enable fractional ownership, streamlined trading, and automated execution of smart contracts for dividends and voting. The project's primary objectives are to enhance efficiency, security, and transparency in asset management. By digitizing assets and recording transactions on an immutable ledger, TAMS reduces the need for intermediaries, minimizes administrative costs, and ensures auditability. Smart contracts automate key processes, improving accuracy and trust among participants. The project's implementation involves selecting an appropriate blockchain platform, designing token standards, creating an intuitive user interface, and adhering to regulatory requirements. The potential challenges of scalability and legal compliance are also considered. In summary, the Token Asset Management project exemplifies blockchain's potential to transform asset management. Through tokenization and blockchain's features, TAMS aims to establish a modernized ecosystem that offers efficient, secure, and transparent asset management solutions.

Enhancing e-IDs authentication with NFC

In the modern times, the heavy footprint of Information and Communication Technologies in the everyday life brings multiple challenges to the ordinary citizen, like having a digital profile on numerous services and institutions. The spread of authentication services that need to be verified to perform simple tasks is thus overwhelming. Many countries hence developed elaborated solutions to unify some of the authentication services around a single e-ID card to help performing different everyday tasks. The burden associated with carrying a smartcard reader to authenticate, or the time spent and complexity of the authentication using Mobile Digital Tokens represent an adversity for citizens who are not so digitally educated. NFC is a technology that is growing in usage every year and is widely adopted now. It is easy and fast to use. This paper proposes a safe, easy, and fast way to implement NFC-based authentication in an e-ID card and discusses its benefits.

Is It Worth Investing in Tokens? Investment Performance of Digital Tokens in Financial and Axiological Contexts

AbstractThe paper focuses on financial and axiological aspects of the new instrument in the digital economy, such as digital tokens (DTs). The purpose of the article is to examine the investment performance of certain types of DTs. We suggest a categorisation of DTs according to the types of assets that they represent and analyse them in terms of profitability, risk, and effectiveness. The investment performance of different types of DTs was compared with stock market indices and commodity prices. The empirical source of information is data from the coinpaprika platform from January 2018 to July 2022. It occurs that DTs demonstrate, on average, lower investment performance than traditional instruments. However, there is a wide group of the former that can be included in the portfolio as their investment performance is higher than the one represented by stock market assets. Our contribution comprises, first, the extension of existing research on tokenization and tokens to include the investment aspect. Second, we develop and apply the original proposal of DT classification, which takes into account the hitherto neglected aspect of worldview valuation of a given DT type by market participants. Finally, we assess the investment performance of DTs (both in terms of our proposed classification and in the context of stock market indices). We also specify recommendations for investors.

"Centralized or Decentralized?": Concerns and Value Judgments of Stakeholders in the Non-Fungible Tokens (NFTs) Market

Non-fungible tokens (NFTs) are decentralized digital tokens to represent the unique ownership of items. Recently, NFTs have been gaining popularity and at the same time bringing up issues, such as scams, racism, and sexism. Decentralization, a key attribute of NFT, contributes to some of the issues that are easier to regulate under centralized schemes, which are intentionally left out of the NFT marketplace. In this work, we delved into this centralization-decentralization dilemma in the NFT space through mixed quantitative and qualitative methods. Centralization-decentralization dilemma is the dilemma caused by the conflict between the slogan of decentralization and the interests of stakeholders. We first analyzed over 30,000 NFT-related tweets to obtain a high-level understanding of stakeholders' concerns in the NFT space. We then interviewed 15 NFT stakeholders (both creators and collectors) to obtain their in-depth insights into these concerns and potential solutions. Our findings identify concerning issues among users: financial scams, counterfeit NFTs, hacking, and unethical NFTs. We further reflected on the centralization-decentralization dilemma drawing upon the perspectives of the stakeholders in the interviews. Finally, we gave some inferences to solve the centralization-decentralization dilemma in the NFT market and thought about the future of NFT and decentralization.

From data to decisions: enhancing financial forecasts with LSTM for AI token prices

PurposeThis study aims to endeavour to decode artificial intelligence (AI)-based tokens' complex dynamics and predictability using a comprehensive multivariate framework that integrates technical and macroeconomic indicators.Design/methodology/approachIn this study we used advance machine learning techniques, such as gradient boosting regression (GBR), random forest (RF) and notably long short-term memory (LSTM) networks, this research provides a nuanced understanding of the factors driving the performance of AI tokens. The study’s comparative analysis highlights the superior predictive capabilities of LSTM models, as evidenced by their performance across various AI digital tokens such as AGIX-singularity-NET, Cortex and numeraire NMR.FindingsThis study finding shows that through an intricate exploration of feature importance and the impact of speculative behaviour, the research elucidates the long-term patterns and resilience of AI-based tokens against economic shifts. The SHapley Additive exPlanations (SHAP) analysis results show that technical and some macroeconomic factors play a dominant role in price production. It also examines the potential of these models for strategic investment and hedging, underscoring their relevance in an increasingly digital economy.Originality/valueAccording to our knowledge, the absence of AI research frameworks for forecasting and modelling current aria-leading AI tokens is apparent. Due to a lack of study on understanding the relationship between the AI token market and other factors, forecasting is outstandingly demanding. This study provides a robust predictive framework to accurately identify the changing trends of AI tokens within a multivariate context and fill the gaps in existing research. We can investigate detailed predictive analytics with the help of modern AI algorithms and correct model interpretation to elaborate on the behaviour patterns of developing decentralised digital AI-based token prices.

Exploring the use of blockchain-based tokens in the wine industry

Abstract A recent publication reports that the number of active Non-Fungible Tokens (NFTs) in self-custodial wallets has grown exponentially in the past years across several industries. This study analyzed 65 token-based use cases in the wine sector. It was found that most current applications revolve around the downstream part of the supply chain. The research has also demonstrated that the various solutions involving fungible tokens and NFTs can be classified into three categories. Consequently, a taxonomy has been introduced. Furthermore, it was identified that digital tokens can solve current challenges in the wine industry related to provenance, proof of origin, authenticity, and fraud prevention. At the same time, the utilization of tokens enables an extended consumer interaction with the product. Managers potentially considering connecting their physical products and services with digital tokens can obtain insights towards their use in the web3 economy.

Tokenization of real assets: classification, platforms, applications, opportunities and challenges of development

Objective: literature review and basic characteristics of the asset tokenization; clarification of the types of token classification; identification of the stages of modeling the asset tokenization; analysis of applications of decentralized finance ecosystem protocols; study of the opportunities and systemic advantages of asset tokenization; presentation of the problems arising in the asset tokenization; analysis of the factors of asset tokenization efficiency growth.Methods: the article uses empirical, historical, logical, country-specific, corporate, comparative and statistical methods of economic analysis to study the peculiarities of the asset tokenization development in the digital transformation of modern economy.Results: the basic characteristics of the asset tokenization are disclosed; the types of standardized tokens involved in the asset tokenization are defined; the stages of the asset tokenization development are considered; the options of using decentralized finance applications under asset tokenization are shown; the opportunities of tokenization through the new forms of investment, increased financial accessibility, transparency and componentization of tokenized assets are studied; the problems of tokenization are analyzed; the factors of asset tokenization efficiency growth under the cross-chain compatibility of different types of blockchains are analyzed. Scientific novelty: the article shows that asset tokenization is a process of accounting and asset management transformation, in which each asset is represented in the form of a programmable digital token; tokenization is a new form of creating additional liquidity by expanding the circulation of idle illiquid assets. Tokenization guarantees greater transparency regarding the rights to real assets and the history of ownership of these rights; it contributes to transaction efficiency by reducing transaction costs, including costs associated with management, token issuance and possible forms of intermediation. By accessing the applications of the DeFi ecosystem, it allows the expansion of financial market potential through the fragmentation and compartmentalization of tokenized assets. All the challenges in the asset tokenization are related to the blockchain trilemma, where decentralization, security and scalability cannot be implemented together. The blockchain trilemma is now becoming a set of possible trade-offs that can preserve all three properties of the blockchain, but at different levels of compatibility. To form a set of possible trade-offs, it is necessary to develop a theory of interoperability, which should be built on the compatibility of factors such as anonymity and privacy, security and preservation of rights to tokenized assets.Practical significance: the main provisions and conclusions of the article can be used: to develop scenarios for the asset tokenization development under the digital transformation of modern economy; to analyze the applications of the decentralized finance ecosystem protocols; to increase the efficiency of asset tokenization under the cross-chain compatibility of different types of blockchains; to study additional opportunities and systemic advantages as a result of fragmentation and compatability of tokenized assets; to study the problems arising in the asset tokenization; and to search for additional growth factors for the asset tokenization efficiency.

The Advent of Virtual Digital Assets: Analysing its Status in the Fintech Sector

Fintech, or financial technology, introduces the role of technology in finance, which forwards the discussion on big data, artificial intelligence (AI), and machine learning, facilitating investment opportunities. However, it is considered to have been introduced and evolved as the Bitcoin protocol in 2009. Digital assets date with the coining of ‘bit gold.’ This was formulated as a decentralised digital currency. The aim behind introducing such a currency was to have a payment mechanism outside the vigilance of the central authority, with a recurring high value. This laid the foundation of blockchain technology, inaugurating the market in digital assets. The utilisation of distributed ledger technology attracted a lot of financial players towards it. Creating digital assets and their required funding subsists on ongoing market changes and investor demands. Computer codes form the skeletal framework of digital assets and depend on agreement-based computer algorithms for effectuating transactions. These digital assets include an almost exhaustive range of virtual assets. Shifting the discussion to the "good faith acquisition" regime, when the transferee of property acquires a good title irrespective of the defect in the title of the transferor, it is known as "good faith acquisition" or "negotiability," an exception to the general rule: nemo dat quod non habet ("no one gives what they don't have"). In this scenario, good faith acquisition (negotiability) is quite relevant as digital assets transfer functions based on quite complex structures, which can be deceiving in disputes arising from insolvency, etc. This has been brought to light with the example of a digital asset held in custody by a third-party intermediary. Here, the legal status of the asset is uncertain, which creates the problem of determining who has the right to claim ownership over it. This is where the new legal framework for digital assets is needed to clear the air and award digital tokens the status of ‘property’ regarding these issues. The proposed legal framework can take due recourse to legal concepts, such as the law of bailment. This paper seeks to analyse and establish the legitimate status of virtual digital assets globally, slowly transitioning to a virtually driven e-community.