Search Results (54)

Digital wallets (DWs) have experienced significant growth in recent years. Still, at the same time, there are substantial differences in the level of adoption of these financial technologies between EU Member States. This research investigates the key factors affecting the intention to use DWs by analyzing previous research and applying an extended Technology Acceptance Model. In total, 418 respondents from the Baltic states participated in the online survey in 2024. Using partial least squares–structural equation modeling (PLS-SEM), the analysis revealed that the factors studied, such as perceived usefulness, perceived ease of use, social influence, facilitating conditions, and perceived trust, significantly influenced users’ intent to use DWs for financial services. Perceived trust emerged as the strongest predictor, and social influence moderated perceived ease of use and facilitated conditions that impacted users’ intent to adopt DWs. This study provides important insights into the factors that shape users’ intentions to use DWs and the interactions between these factors. In addition, the extension of the TAM strengthened the theoretical framework for the study of DW adoption. Full article

Digital transformation (DT) has emerged as a key strategic lever for enhancing firm resilience and competitiveness, yet its influence on non-productive investment behaviors, such as corporate financial investment, remains underexplored. Existing studies have largely focused on DT’s role in innovation and operational efficiency, leaving a significant gap in understanding how DT reshapes firms’ financial asset allocation. Drawing on a unique panel dataset of A-share main board-listed firms in China from 2011 to 2023, this study provides novel empirical evidence that DT significantly restrains financial investment, with pronounced heterogeneity across ownership types. More importantly, this paper uncovers a multi-layered mechanism: DT enhances the corporate information environment, which subsequently reduces financial investment. In addition, the analysis reveals a moderated mediation mechanism wherein economic uncertainty dampens the information-enhancing effect of DT. Unlike previous research that treats corporate risk-taking as a parallel mediator, this study identifies a sequential mediation pathway, where improved information environments suppress financial investment indirectly by influencing firms’ risk-taking behavior. These findings offer new theoretical insights into the financial implications of DT and contribute to the broader understanding of enterprise behavior in the context of digitalization and economic volatility. Full article

The growing need for secure and privacy-preserving identity management in industrial environments has exposed the limitations of traditional, centralized authentication systems. In this context, SIBERIA was developed as a modular solution that empowers users to control their own digital identities, while ensuring robust protection of critical services. The system is designed in alignment with European standards and regulations, including EBSI, eIDAS 2.0, and the GDPR. SIBERIA integrates a Self-Sovereign Identity (SSI) framework with a decentralized blockchain-based infrastructure for the issuance and verification of Verifiable Credentials (VCs). It incorporates multi-factor authentication by combining a voice biometric module, enhanced with spoofing-aware techniques to detect synthetic or replayed audio, and a behavioral biometrics module that provides continuous authentication by monitoring user interaction patterns. The system enables secure and user-centric identity management in industrial contexts, ensuring high resistance to impersonation and credential theft while maintaining regulatory compliance. SIBERIA demonstrates that it is possible to achieve both strong security and user autonomy in digital identity systems by leveraging decentralized technologies and advanced biometric verification methods. Full article

Smart contracts and cryptocurrency wallets are foundational components of decentralized applications (dApps) on blockchain platforms such as Ethereum. While these technologies enable secure, transparent, and automated transactions, their integration also introduces complex security challenges. This study presents a security-oriented analysis of smart contract and wallet integration, focusing on BlockScribe—a decentralized Ethereum-based application for digital record certification. We systematically identify and categorize security risks arising from the interaction between wallet interfaces and smart contract logic. In particular, we analyze how user authorization flows, transaction design, and contract modularity affect the security posture of the entire dApp. To support our findings, we conduct an empirical evaluation using static analysis tools and formal verification methods, examining both contract-level vulnerabilities and integration-level flaws. Our results highlight several overlooked attack surfaces in wallet–contract communication patterns, including reentrancy amplification, permission mismanagement, and transaction ordering issues. We further discuss implications for secure dApp development and propose mitigation strategies that improve the robustness of wallet–contract ecosystems. This case study contributes to a deeper understanding of integration-layer vulnerabilities in blockchain-based systems and offers practical guidance for developers and auditors aiming to strengthen smart contract security. Full article

The use of Verifiable Credentials under the new eIDAS Regulation introduces privacy concerns, particularly during revocation status checks. This paper proposes a privacy-preserving revocation mechanism tailored to the European Digital Identity Wallet and its Architecture and Reference Framework. Our method publishes a daily randomized revocation list as a cascaded Bloom filter, enhancing unlinkability by randomizing revocation indexes derived from ARF guidelines. The implementation extends open-source components developed by the European Committee. This work demonstrates a practical, privacy-centric approach to revocation in digital identity systems, supporting the advancement of privacy-preserving technologies. Full article

This paper examines the concepts, technologies, and services of various types of electronic wallets and compares and analyzes their security features. Additionally, it presents specialized security threats through cases of breaches of key information that need to be managed according to the type of electronic wallet. One of the main contributions of this paper is that, unlike existing studies, it provides explanations and discussions encompassing both traditional e-wallets and cryptocurrency-based wallets. It identifies and insightfully examines the functions of electronic wallets according to the type of digital asset while also incorporating scenario-based quantitative analysis to assess how effectively certain security requirements mitigate identified risks. In particular, the classification of wallet types in this paper is based on an analysis of the existing literature that has studied the services, functionality, and security of each wallet. Through this, we suggest a future direction for universal wallets by highlighting critical security requirements that may arise when identity (ID), payment, and cryptocurrency services converge in a single interface. Rather than proposing an exhaustive universal wallet architecture, this paper focuses on key technical elements that future e-wallet environments should consider to withstand the multifaceted threat landscape posed by integrated digital asset management. Full article

In pursuit of a higher-quality post-pandemic economic recovery, Chinese authorities have accelerated the development of the e-CNY. This study posits that the e-CNY distinguishes itself from other payment instruments through its controlled anonymity, programmability, and non-interest-bearing attributes. By analyzing patents filed by the Digital Currency Research Institute of the People’s Bank of China between 2016 and 2023, the paper elucidates potential implementation strategies for these distinctive features. The findings suggest that the e-CNY may facilitate a zero-interest accrual model within the prevailing legal framework. Restricted authority access and the anonymity ensured by encrypted data further allow users to maintain a high degree of confidentiality. Additionally, conditional automatic transfers—a prominent function in the e-CNY’s smart contracts—mirror traditional automatic transfers for directed fund utilization without impeding the circulation of fiat currency. The People’s Bank of China has sought to thoughtfully integrate these functionalities into its Central Bank Digital Currency framework, aiming to minimize potential conflicts with existing legal standards. Instead of relying solely on extensive legislative revisions, China’s experience illustrates how deliberate and incremental CBDC design choices can reconcile regulatory compliance with innovative technological advancements. Full article

The COVID-19 pandemic has precipitated several challenges, prompting the Indonesian government to enact rules aimed at minimizing direct contact to mitigate the spread of COVID-19, which has also affected transactional activities. Transactions conducted using a digital wallet represent a technological advancement that facilitates a cashless society lifestyle. Bank Indonesia established the Quick Response Code Indonesian Standard (QRIS) as a QR Code standard for digital payments using Electronic Money-Based (EU) servers, electronic wallets, or Mobile Banking. This study aims to identify the elements that affect consumer willingness to convert from cash payments to the QRIS during the COVID-19 epidemic. This study collected data through an online survey, distributing a 17-item questionnaire to QRIS users, yielding 568 valid responses. This research used a modified version of the Push-Pull-Mooring theory and an adaptation of the Unified Theory of Acceptance and Use of Technology (UTAUT2) model, concentrating on consumers’ intentions to transition from cash payments to QRIS utilization. This study employed the Hybrid SEM-ANN methodology with the SmartPLS and IBM SPSS Statistics 27 applications for data analysis. This investigation had 11 hypotheses, of which 4 were accepted. The findings indicated that alternative attractiveness, trust, critical mass, and traditional payment habits significantly influenced the intention to transition from cash payments to QRIS payments during the COVID-19 pandemic. Full article

The implementation of Central Bank Digital Currencies (CBDCs) faces significant challenges in achieving the same level of anonymity and convenience in offline transactions as cash. This limitation imposes considerable constraints on the development and widespread adoption of CBDCs. Unlike cash, digital currencies, similar to other electronic payment methods, necessitate internet or other network connectivity to verify payment eligibility. This study proposes a secure offline payment model for CBDCs that operates independently of internet or network connections by utilizing a Trusted Platform Module (TPM) to enhance the security of digital currency transactions. Additionally, the monotonic counter, the basic component of the TPM, is integrated into this model to prevent double spending in a completely offline environment. Our research presents a protocol model that combines these easily implementable technologies to facilitate the efficient processing of transactions in CBDCs entirely offline. However, it is crucial to acknowledge the security implications associated with the TPMs and near-field communications upon which this protocol relies. Full article

Blockchain wallets are essential interfaces for managing digital assets and authorising transactions within blockchain systems. However, typical blockchain wallets often encounter performance, privacy and cost issues when utilising multi-signature schemes and face security vulnerabilities with single-signature methods. Additionally, while granting users complete control, non-custodial wallets introduce technical complexities and security risks. While custodial wallets can mitigate some of these challenges, they are primary targets for attacks due to the pooling of customer funds. To address these limitations, we propose a chain-agnostic Multi-Party Computation Threshold Signature Scheme (MPC-TSS) shared-custodial wallet with securely distributed key management and recovery. We apply this solution to create a wallet design for wealth managers and their clients, consolidating the management and access of multiple cryptocurrency tokens and services into a single application interface. Full article

The acceleration of the digital transformation process imposed by the pandemic in all the countries of the European Union, and in all sectors, has given way to a revolution that up until a couple of years ago would have been impossible even to imagine. Digital innovation has become a factor of competitiveness in all sectors. In this new scenario that has come to be, the Blockchain technology, the Self-Sovereign Identity paradigm, Internet of Things, and, in general, the new technologies that will emerge, will constitute enhancers of competitiveness and will have to aim for interoperability. In this context, this article develops and presents a model proposal in the healthcare field that aims to highlight how the combination of the Blockchain technology and the Self-Sovereign Identity paradigm restores full control over a person’s identity and information, while ensuring the integrity of all medical reports, enabling secure communications between personal medical devices and patient/doctor applications on devices exploiting peer Decentralized Identifiers and ensuring data privacy, exploiting Zero Knowledge Proofs. The proposal relies on the Veramo platform, treating all medical reports as verifiable credentials and storing them in digital wallets owned by the patient. The article concludes by presenting a prototype designed and implemented for managing medication prescriptions, their issuance, and their exchange. Full article

With the widespread adoption and increasing application of blockchain technology, cryptocurrency wallets used in Bitcoin and Ethereum play a crucial role in facilitating decentralized asset management and secure transactions. However, wallet security relies heavily on private keys, with insufficient attention to the risks of theft and exposure. To address this issue, Chaum et al. (ACNS’21) proposed a “proof of ownership” method using a “backup key” to prove ownership of private keys even when exposed. However, their interactive proof approach is inefficient in large-scale systems and vulnerable to side-channel attacks due to the long key generation time. Other related schemes also suffer from low efficiency and complex key management, increasing the difficulty of securely storing backup keys. In this paper, we present an efficient, non-interactive proof generation approach for ownership of secret keys using a single backup key. Our approach leverages non-interactive zero-knowledge proofs and symmetric encryption, allowing users to generate multiple proofs with one fixed backup key, simplifying key management. Additionally, our scheme resists quantum attacks and provides a fallback signature. Our new scheme can be proved to capture unforgeability under the computational indistinguishability from the Uniformly Random Distribution property of a proper hash function and soundness in the quantum random oracle model. Experimental results indicate that our approach achieves a short key generation time and enables an efficient proof generation scheme in large-scale decentralized systems. Compared with state-of-the-art schemes, our approach is applicable to a broader range of scenarios due to its non-interactive nature, short key generation time, high efficiency, and simplified key management system. Full article

Blockchain technology is an important technical basis for ensuring carbon trading and plays a fundamental role in maintaining fairness in the carbon trading market. This paper proposes a carbon emission metering and settlement method and a system based on blockchain technology which creates the digital identity of electric meters and stores it in the blockchain. Verifiable credentials are generated based on the digital identity, energy data, and time stamp. The system records the energy data read by the verified meter to the blockchain cloud platform for carbon emission statistics. In the payment and settlement stage, through application of the blockchain and its combination with a digital payment wallet, the regional energy network consumption settlement value is generated according to the regional power supply and electricity consumption, and the settlement value is used as the benchmark to measure the carbon emissions in the region. Through the data analysis of practical application cases in an industrial park in China, this study concludes that the carbon emission statistical settlement method based on blockchain technology solves the problems of untrustworthiness, unreliability, and inconsistency in the statistical and settlement methods during the statistical settlement of electric energy statistics and energy consumption carbon emissions. Full article

Digital wallets have become a driving force in the global economy, with 2.4 billion users worldwide in 2020, a figure projected to reach 3.6 billion by 2026. This study conducts an in-depth bibliometric analysis to evaluate the current state and future trends of digital wallet research using scientific databases such as Scopus and Web of Science. A scoping review methodology was applied, in which we analyzed 778 documents, following an eligibility process with the following search terms: “digital wallet”, “mobile wallet”, and “e-wallet”. Results show that India, the United States, and China are leading research efforts in this field. Key factors influencing the adoption of digital wallets include data security, ease of use, and integration with traditional payment systems. While much research has focused on technological innovation and adoption, significant gaps remain in areas such as blockchain integration and AI-driven solutions. This article provides the first comprehensive bibliometric analysis of digital wallets, offering crucial insights into emerging trends such as “blockchain”, “electronic commerce”, and “digital payments” and their role in shaping the future of financial technology. Full article

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. Full article