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Keywords = emerging economies

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31 pages, 565 KiB  
Article
Strategic Business Management and Its Role in the Formalization of Micro and Small Enterprises in Emerging Economies
by Uldarico Inocencio Aguado-Riveros, Sonia Luz Barzola-Inga, Carlos Antonio Adauto-Justo, Diana Pariona-Amaya, Luis Enrique Espinoza-Quispe, Luis Alberto Poma-Lagos, Vicente González-Prida and Javier Amador Navarro-Veliz
World 2025, 6(2), 41; https://doi.org/10.3390/world6020041 (registering DOI) - 28 Mar 2025
Abstract
This study explores the connection between business management and the formalization of micro and small businesses (MSEs) in a particular developing economy environment. The main objective is to identify the business management factors that influence the business registration and compliance processes of these [...] Read more.
This study explores the connection between business management and the formalization of micro and small businesses (MSEs) in a particular developing economy environment. The main objective is to identify the business management factors that influence the business registration and compliance processes of these enterprises. This study uniquely contributes to the literature by empirically identifying and testing the specific business management factors that influence MSE formalization in an emerging economy, using a quantitative, data-driven approach. The research design utilizes quantitative methods and non-experimental and correlational elements while surveying 186 informal entrepreneurs from a total population of 361. The analysis used SPSS software version 25 on Likert-type scale survey data to identify relationships between investigated variables. The results demonstrate a weak positive association between business management and MSE formalization through their r = 0.386 Spearman correlation coefficient, which reaches statistical significance at a p-value of 0.000. In addition, positive correlations were identified between resource availability and accessibility and service quality with formalization, whereas acceptability and adaptability did not show a significant relationship (r = 0.256, p = 0.000; r = 0.359, p = 0.000). The formalization of MSEs depends on proper business management; however, a broader contextual approach is required to meet specific demands in local areas such as the study area. These findings suggest the implementation of integrated policies that improve the availability, accessibility, and quality of resources and services offered to MSEs. Full article
14 pages, 3109 KiB  
Article
Research on Energy Management Strategy Based on Adaptive Equivalent Fuel Consumption Minimum for Hydrogen Hybrid Energy Systems
by Zhaoxuan Zhu, Zhiwei Yin and Kaiyu Qin
Energies 2025, 18(7), 1691; https://doi.org/10.3390/en18071691 - 28 Mar 2025
Viewed by 47
Abstract
Hydrogen has attracted widespread attention due to its zero emissions and high energy density, and hydrogen-fueled power systems are gradually emerging. This paper combines the advantages of the high conversion efficiency of fuel cells and strong engine power to propose a hydrogen hybrid [...] Read more.
Hydrogen has attracted widespread attention due to its zero emissions and high energy density, and hydrogen-fueled power systems are gradually emerging. This paper combines the advantages of the high conversion efficiency of fuel cells and strong engine power to propose a hydrogen hybrid energy system architecture based on a mixture of fuel cells and engines in order to improve the conversion efficiency of the energy system and reduce its fuel consumption rate. Firstly, according to the topology of the hydrogen hybrid energy system and the circuit model of its core components, a state-space model of the hydrogen hybrid energy system is established using the Kirchhoff node current principle, laying the foundation for the control and management of hydrogen hybrid energy systems. Then, based on the state-space model of the hydrogen hybrid system and Pontryagin’s minimum principle, a hydrogen hybrid system management strategy based on adaptive equivalent fuel consumption minimum strategy (A-ECMS) is proposed. Finally, a hydrogen hybrid power system model is established using the AVL Cruise simulation platform and a control strategy is developed using matlab 2021b/Simulink to analyze the output power and fuel economy of the hybrid energy system. The results show that, compared with the equivalent fuel consumption minimum strategy (ECMS), the overall fuel economy of A-ECMS could improve by 10%. Meanwhile, the fuel consumption of the hydrogen hybrid energy system is less than half of that of traditional engines. Full article
(This article belongs to the Section A5: Hydrogen Energy)
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24 pages, 8734 KiB  
Review
Graphene Oxide Research: Current Developments and Future Directions
by Meiqiu Zhan, Minjie Xu, Weijun Lin, Haijie He and Chuang He
Nanomaterials 2025, 15(7), 507; https://doi.org/10.3390/nano15070507 (registering DOI) - 28 Mar 2025
Viewed by 59
Abstract
Graphene oxide (GO), a pivotal derivative of graphene, has revolutionized nanotechnology with its tunable physicochemical properties and interdisciplinary applications in energy storage, environmental remediation, and biomedicine. Despite its exponential research growth, existing reviews remain fragmented, lacking holistic insights into evolving synthesis–application linkages, global [...] Read more.
Graphene oxide (GO), a pivotal derivative of graphene, has revolutionized nanotechnology with its tunable physicochemical properties and interdisciplinary applications in energy storage, environmental remediation, and biomedicine. Despite its exponential research growth, existing reviews remain fragmented, lacking holistic insights into evolving synthesis–application linkages, global collaboration patterns, and emerging convergence trends. This study bridges these gaps through a scientometric analysis of 14,124 peer-reviewed articles (2022–2025) from the Web of Science Core Collection, utilizing CiteSpace for co-occurrence network mapping, burst detection, and cluster analysis. Key findings reveal (1) a thematic shift from traditional synthesis optimization (e.g., Hummers’ method) toward driven material design and sustainable applications like GO membranes for water purification; (2) China’s dominance in publication output (38.5%) contrasts with the U.S. and Europe’s leadership in global collaborations; (3) interdisciplinary journals such as Chemical Engineering Journal (centrality: 0.25) and emerging clusters like “circular economy” signal transformative priorities; and (4) critical gaps in scalability, ecological safety, and cost-effective production hinder industrial translation. This work provides a roadmap for aligning research with sustainability goals, fostering global partnerships, and accelerating innovations in scalable nanotechnology. Full article
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31 pages, 798 KiB  
Article
Exploring Barriers to the Adoption of Digital Technologies for Circular Economy Practices in the Construction Industry in Developing Countries: A Case of Ghana
by Hayford Pittri, Godawatte Arachchige Gimhan Rathnagee Godawatte, Osabhie Paul Esangbedo, Prince Antwi-Afari and Zhikang Bao
Buildings 2025, 15(7), 1090; https://doi.org/10.3390/buildings15071090 - 27 Mar 2025
Viewed by 113
Abstract
Despite the potential of digital transformation to enhance resource efficiency and waste reduction, numerous barriers hinder its adoption. This study examines the critical barriers to digital technology adoption for circular economy implementation in the construction industry in developing countries, using Ghana as a [...] Read more.
Despite the potential of digital transformation to enhance resource efficiency and waste reduction, numerous barriers hinder its adoption. This study examines the critical barriers to digital technology adoption for circular economy implementation in the construction industry in developing countries, using Ghana as a case study. A structured quantitative approach was employed, integrating mean score ranking, exploratory factor analysis, and fuzzy synthetic evaluation to assess the severity of identified barriers. Data were collected from construction professionals through structured surveys, and statistical analyses were performed using SPSS, Excel, and RStudio to determine the criticality of the barriers. The fuzzy synthetic evaluation revealed that financial and adoption constraints emerged as the most critical barrier group, followed closely by institutional and knowledge barriers, while technological and market limitations and regulatory and organizational challenges also exhibited significant impediments. In response, this study develops a strategic framework comprising targeted solutions such as financial incentives, capacity building, regulatory reforms, and technological infrastructure development. This framework addresses not only the barriers but also the associated risks, including financial uncertainty, data security threats, and regulatory gaps. This study contributes to the theoretical understanding of digital technology adoption in CE practices and offers practical recommendations for policymakers, industry stakeholders, and academics seeking to foster sustainable construction practices in the construction industry. Full article
(This article belongs to the Section Construction Management, and Computers & Digitization)
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17 pages, 1326 KiB  
Article
Determinants of the Use of Circular Economy Strategies by Stakeholders in the Wood–Forestry Sector in Benin
by Yann Emmanuel Miassi, Nancy Gélinas and Kossivi Fabrice Dossa
Environments 2025, 12(4), 101; https://doi.org/10.3390/environments12040101 - 27 Mar 2025
Viewed by 112
Abstract
Although the circular economy (CE) has emerged as an innovative approach to address the challenges of protecting natural resources, the use of its strategies remains in its infancy, particularly in West Africa. This study examines the factors influencing the use of CE strategies [...] Read more.
Although the circular economy (CE) has emerged as an innovative approach to address the challenges of protecting natural resources, the use of its strategies remains in its infancy, particularly in West Africa. This study examines the factors influencing the use of CE strategies in the wood and forestry sector in Benin. This study relied on a methodological approach based on surveys, using interview guides to collect information in both the southern and northern zones of the country. This information was collected at the level of the different actors directly involved in this sector, to identify the factors that influence the use of CE strategies using Probit models. The results show that access to information, the number of years of professional experience, the age of the actors and the type of training received are the determining factors in the use of these strategies (the models statistically significant at the 1% level). Other factors, such as knowledge of the costs and benefits of different strategies, are also identified as fundamental. Furthermore, a high financial capacity and an excess or overload of information are identified as the limiting factors for the use of these strategies. Full article
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23 pages, 7750 KiB  
Article
Coupling Land Use with Multiple Geographical Factors Drives the Evolution of Habitat Quality: Case Study from Resource-Exhausted City—Jiawang District, East China
by Donglin Li, Yang Zhang, Youhong Gao, Lizeng Duan, Huayu Li, Haonan Zhang, Qingyan Gao, Mingyang Zhao and Qi Liu
Sustainability 2025, 17(7), 2954; https://doi.org/10.3390/su17072954 - 26 Mar 2025
Viewed by 130
Abstract
Habitat quality (HQ) is crucial for assessing biodiversity and serves as a key indicator of ecosystem services and health. However, the spatial and temporal evolution of HQ under varying human activity intensities remains poorly understood. We employed the integrated valuation of ecosystem services [...] Read more.
Habitat quality (HQ) is crucial for assessing biodiversity and serves as a key indicator of ecosystem services and health. However, the spatial and temporal evolution of HQ under varying human activity intensities remains poorly understood. We employed the integrated valuation of ecosystem services and trade-offs model to analyze the spatiotemporal distribution and evolutionary characteristics of HQ in Jiawang District (JWD), an area experiencing resource extraction, depletion, and urban expansion. We utilized Pearson correlation analysis, partial least squares-path modeling, the generalized additive model, and patch-generating land use simulation to explore the impact of human activity on HQ and the mechanisms of multifactorial interactions. Our findings revealed the following: (1) From 2000 to 2030, HQ in JWD generally declined, with high- and low-quality areas in the north and east and the west and south, respectively. (2) The land use intensity index and population density were significantly correlated with HQ, emphasizing the role of human-driven land use changes. (3) Topographic factors were positively correlated with HQ but influenced it indirectly through land use. (4) Land use emerged as a critical intermediary influencing HQ, with climate, topography, population, and economy exerting indirect effects. These results provide insights for biodiversity conservation and sustainable urban development. Full article
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28 pages, 2010 KiB  
Article
Challenges and Benefits of Implementing AI in Timber Construction for Circular Economy Goals
by Mohsen Ghobadi and Samad M. E. Sepasgozar
Buildings 2025, 15(7), 1073; https://doi.org/10.3390/buildings15071073 - 26 Mar 2025
Viewed by 54
Abstract
Artificial intelligence (AI) is considered an essential enabler of a circular economy (CE) in the construction industry. AI can significantly enhance the efficiency of applying innovative CE practices in other construction projects. However, it has not yet been fully integrated into the application [...] Read more.
Artificial intelligence (AI) is considered an essential enabler of a circular economy (CE) in the construction industry. AI can significantly enhance the efficiency of applying innovative CE practices in other construction projects. However, it has not yet been fully integrated into the application of CE principles and has explicitly been overlooked in the context of timber construction. This study aims to bridge this gap by examining the potential contributions of AI applications to achieving CE in timber construction, as well as identifying the associated benefits and challenges. Through a mixed-methods approach, the research utilizes both qualitative data, collected through timber construction industry interviews, and quantitative analysis to explore professional construction perspectives and uncover actionable insights. The findings highlight the transformative potential of AI to enhance sustainability and operational efficiency in timber construction. Moreover, six potential benefits and 11 challenges for integrating AI and a CE in timber construction are identified that can act as an accelerator for advancing circularity in timber construction. Based on the results, the reduction in construction waste and facilitating the deconstruction and reuse process emerge as the most important benefits. Data obstacles, technological integration, finance and resources, and organizational and industry are determined as the main challenges. This study makes novel contributions to the field by providing empirical evidence in the form of qualitative and quantitative data, in addition to practical recommendations for advancing the integration of AI to promote CE goals and improve sustainability in the timber construction sector. Full article
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16 pages, 748 KiB  
Review
Sustainable Valorization of Wine Lees: From Waste to Value-Added Products
by Ancuța Chetrariu, Adriana Dabija, Larisa Caisin, Vitalii Agapii and Ionuț Avrămia
Appl. Sci. 2025, 15(7), 3648; https://doi.org/10.3390/app15073648 - 26 Mar 2025
Viewed by 105
Abstract
After the winemaking process, the residues formed are called wine lees, which represent a mixture of autolyzed yeasts deposited at the bottom of wine-storage tanks. Approximately 2.96 million tons of yeast result from the vinification of 49.4 million tons of grapes. The increased [...] Read more.
After the winemaking process, the residues formed are called wine lees, which represent a mixture of autolyzed yeasts deposited at the bottom of wine-storage tanks. Approximately 2.96 million tons of yeast result from the vinification of 49.4 million tons of grapes. The increased costs of removing these by-products from the wine industry, which is no longer required in the production process, offer us the opportunity to capitalize on various bioactive compounds through the circular economy concept and circular process. Wine lees resulting from the large-scale production of wine represent a raw material for the valorization of phenolic compounds, proteins, and polysaccharides, as well as pigments or organic compounds. The substantial nutrient resources available from wine lees are described extensively in this manuscript and range from vitamins, amino acids, and fatty acids to food supplements, edible packaging, or food products such as bakery products. This review article explores the emerging horizons of winery waste utilization, unveiling the abundance of bioactive compounds and their manifold applications across the industrial realm. Full article
(This article belongs to the Special Issue Extraction and Applications of Bioactive Compounds for Food Products)
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36 pages, 10656 KiB  
Review
Bio-Based Solutions for Concrete Infrastructure: A Review of Microbial-Induced Carbonate Precipitation in Crack Healing
by Armstrong Ighodalo Omoregie, Chih Siong Wong, Adharsh Rajasekar, Jen Hua Ling, Abdelfatah Bousbia Laiche, Hazlami Fikri Basri, Gowthaman Sivakumar and Tariq Ouahbi
Buildings 2025, 15(7), 1052; https://doi.org/10.3390/buildings15071052 - 25 Mar 2025
Viewed by 160
Abstract
Microbial-induced carbonate precipitation (MICP) is gaining attention as an eco-friendly and sustainable method for concrete crack repair. However, key challenges related to its large-scale implementation, regulatory approval, and integration into existing construction standards remain underexplored. This review examines recent advances in MICP, emphasizing [...] Read more.
Microbial-induced carbonate precipitation (MICP) is gaining attention as an eco-friendly and sustainable method for concrete crack repair. However, key challenges related to its large-scale implementation, regulatory approval, and integration into existing construction standards remain underexplored. This review examines recent advances in MICP, emphasizing its role in circular economy practices and sustainable building solutions. Traditional synthetic sealants contribute to environmental pollution and have limited long-term durability, highlighting the need for greener alternatives. Global research trends reveal an increasing focus on self-healing materials, biomineralization, and durability enhancement, alongside emerging innovations such as encapsulation technologies, marine applications, and bio-based composites. Unlike previous reviews, this study integrates bibliometric analysis to systematically assess research trends, identify key collaboration networks, and evaluate regulatory challenges that impact MICP adoption. While MICP offers significant advantages, including self-healing capabilities and compatibility with industrial by-products, barriers related to cost, scalability, and policy integration persist. This review identifies critical thematic clusters which include microbial action, sustainability, and engineering applications. This helps to provide actionable insights for researchers, engineers, and policymakers. By fostering interdisciplinary collaboration, MICP has the potential to become a transformative solution for resilient and environmentally sustainable infrastructure. Full article
(This article belongs to the Section Building Materials, and Repair & Renovation)
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25 pages, 2848 KiB  
Review
Pineapple Waste Biorefinery: An Integrated System for Production of Biogas and Marketable Products in South Africa
by Reckson Kamusoko and Patrick Mukumba
Biomass 2025, 5(2), 17; https://doi.org/10.3390/biomass5020017 - 25 Mar 2025
Viewed by 130
Abstract
Pineapple (Ananas comosus) is one of the most economically important fruit cultivars in South Africa. The fruit is locally consumed, processed into various industrial products or exported to foreign markets. Approximately 115,106 metric tons of pineapple fruit are harvested in South [...] Read more.
Pineapple (Ananas comosus) is one of the most economically important fruit cultivars in South Africa. The fruit is locally consumed, processed into various industrial products or exported to foreign markets. Approximately 115,106 metric tons of pineapple fruit are harvested in South Africa. The pineapple value chain generates significant amounts of waste, in the form of pomace, peel, crown, stem, core and base. If not properly treated, pineapple waste (PAW) could have a profound detrimental impact on the environment. This calls for advanced technological platforms to transform PAW into useful bio-based products. A biorefinery is a potent strategy to convert PAW into multiple food and non-food products while effectively disposing of the waste. The objective of this review is to explore possible pathways for the valorization of PAW into energy and material products in a biorefinery. The paper looks at 10 products including biogas, biohythane, bioethanol, biobutanol, biohydrogen, pyrolytic products, single-cell proteins, animal feed, vermicompost and bioactive compounds. Several platforms (i.e., biochemical, chemical, physical and thermochemical) are available to convert PAW into valuable goods. Amongst them, the biochemical route appears to be the most favorable option for the valorization of PAW. Anaerobic digestion and fermentation are well-established biochemical technologies for PAW valorization. These methods are simple, low-cost, eco-friendly and sustainable. The focal point of emerging research is the enhanced efficacy of biorefinery platforms. The commercialization of PAW biorefining is a potential gamechanger that could revitalize the entire South African economy. Full article
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32 pages, 7014 KiB  
Review
Progress and Prospect of Solid Waste Utilization in Construction Industry: A Bibliometric Analysis Based on CiteSpace and VOSviewer
by Runrun Dong, Huixian Yu and Jing Lu
Buildings 2025, 15(7), 1044; https://doi.org/10.3390/buildings15071044 - 24 Mar 2025
Viewed by 121
Abstract
The high-value-added and resourceful reuse of solid waste is regarded as a promising technological approach within the construction industry, playing a vital role in advancing sustainable development and ecological civilization. In this study, VOSviewer and CiteSpace were utilized to systematically perform a bibliometric [...] Read more.
The high-value-added and resourceful reuse of solid waste is regarded as a promising technological approach within the construction industry, playing a vital role in advancing sustainable development and ecological civilization. In this study, VOSviewer and CiteSpace were utilized to systematically perform a bibliometric analysis of research related to the reutilization of solid waste in the construction sector, using data from the Web of Science Core Collection and Scopus databases. The analysis focused on publication volume over the last decade, global collaboration networks, thematic journals, keyword co-occurrence, and timeline clustering. The results reveal that: (1) The number of publications related to solid waste in construction has steadily increased over the last decade; (2) Significant research contributions have been observed from China. However, a cohesive core of contributing authors has yet to emerge, and broader, more equitable international collaboration remains necessary; (3) Research foundations span disciplines such as environmental science, materials science, physics, and chemistry, indicating a clear trend of interdisciplinary integration; (4) Current research primarily explores the performance and environmental impacts of concrete and waste-derived materials. Over time, topics have expanded from early explorations to include environmental assessments, waste management, and the circular economy, increasingly advanced technologies to investigate high-performance and diverse material applications. In the future, the energy efficiency and green sustainability of solid waste are expected to draw continued attention, with emerging technologies such as 3D printing and artificial intelligence likely to foster more interdisciplinary research in optimizing material performance. Full article
(This article belongs to the Section Building Materials, and Repair & Renovation)
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24 pages, 312 KiB  
Article
Exploring Audit Opinions: A Deep Dive into Ratios and Fraud Variables in the Athens Exchange
by Yiannis Yiannoulis, Dimitrios Vortelinos and Ioannis Passas
Account. Audit. 2025, 1(1), 3; https://doi.org/10.3390/accountaudit1010003 - 24 Mar 2025
Viewed by 147
Abstract
This study examines the feasibility of using financial ratios and non-financial variables to predict audit opinions (qualified or unqualified) for firms listed on the Athens Exchange (ATHEX) from 2018 to 2022. Using 450 firm-year observations from 90 non-financial firms, we applied a logit [...] Read more.
This study examines the feasibility of using financial ratios and non-financial variables to predict audit opinions (qualified or unqualified) for firms listed on the Athens Exchange (ATHEX) from 2018 to 2022. Using 450 firm-year observations from 90 non-financial firms, we applied a logit regression model to analyze the relationship between 11 financial ratios and non-financial factors, such as auditor quality, auditor turnover, and corporate performance. While the results indicate that auditor characteristics, particularly auditor quality, have significant explanatory power, the predictive strength of financial ratios varies, suggesting that audit opinions in Greece may be influenced by broader governance and institutional factors rather than financial indicators alone. The study provides empirical insights that contribute to the development of predictive models for audit opinion assessment. These findings are particularly relevant in emerging economies like Greece, where audit risk and firm failures are heightened due to economic and regulatory challenges. By identifying key determinants of audit opinions, the study enhances understanding of audit risk assessment and its alignment with International Standards on Auditing (ISA 520). However, its findings are limited by the sample size and Greece’s unique regulatory environment. Future research should explore the integration of additional governance and institutional variables and assess the model’s applicability in larger and more developed markets. Full article
22 pages, 518 KiB  
Article
Sustainability in High-Income Countries: Urbanization, Renewables, and Ecological Footprints
by Fayaz Hussain Tunio, Agha Amad Nabi, Rafique Ur Rehman Memon, Tayyab Raza Fraz and Daniela Haluza
Energies 2025, 18(7), 1599; https://doi.org/10.3390/en18071599 - 23 Mar 2025
Viewed by 145
Abstract
Environmental sustainability remains a critical challenge in the face of global economic development. This study explored the complex interactions among renewable energy consumption, urbanization, trade openness, and economic development, focusing on their effects on environmental quality in 34 high-income European and Asian economies [...] Read more.
Environmental sustainability remains a critical challenge in the face of global economic development. This study explored the complex interactions among renewable energy consumption, urbanization, trade openness, and economic development, focusing on their effects on environmental quality in 34 high-income European and Asian economies from 1970 to 2022. Using linear Bayesian regression and the Vector Error Correction Model (VECM), the analysis examined short- and long-term impacts to uncover nuanced relationships. Results demonstrated that economic development contributed to environmental degradation over the long term while mitigating it in the short term. Renewable energy consumption supported economic growth but showed limited efficacy in reducing ecological footprints across different time frames. Urbanization and trade openness emerged as significant drivers of long-term environmental degradation, emphasizing the need for targeted policy interventions. This study examined the link among economic progress and environmental sustainability, and identified key areas for improvement in urban planning, renewable energy, and trade policies. The findings provide a framework for policymakers to balance development with environmental preservation. Full article
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26 pages, 5488 KiB  
Review
Advancements in Cellulose-Based Materials for CO2 Capture and Conversion
by Niranjan Patra, Prathipati Ramesh and Ștefan Țălu
Polymers 2025, 17(7), 848; https://doi.org/10.3390/polym17070848 - 22 Mar 2025
Viewed by 244
Abstract
This study explores the recent advances of cellulose-based materials in the context of carbon capture and conversion amid the global imperative to reduce CO2emissions. The review emphasizes the critical importance of selecting suitable materials for establishing a robust and secure carbon [...] Read more.
This study explores the recent advances of cellulose-based materials in the context of carbon capture and conversion amid the global imperative to reduce CO2emissions. The review emphasizes the critical importance of selecting suitable materials for establishing a robust and secure carbon capture technology. From elucidating celluloses’ molecular structure and unique properties to detailing the advancements in CO2 capture technologies, the narrative provides a comprehensive understanding of the intricate interplay between cellulose and sustainable CO2 management. The exploration extends to the design and synthesis of cellulose-based adsorbents, challenges in implementation, showcasing emerging trends and potential breakthroughs. Emphasizing the significance of cellulose in the circular carbon economy, this review serves as a beacon for interdisciplinary collaboration, urging further research and implementation for a greener and more sustainable future. A comprehensive overview of recent developments on cellulose-based aerogels, films, composites, and solid adsorbents in the field of carbon capture. It further elucidates the research mechanisms involved in utilizing cellulose-based materials to convert CO2 into formic acid, methanol, carbonate, and CO, offering detailed insights. The review concludes by addressing the challenges and key issues associated with cellulose-based materials in the context of carbon capture and utilization. Full article
(This article belongs to the Special Issue New Progress of Green Sustainable Polymer Materials)
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25 pages, 482 KiB  
Article
Understanding Consumer Acceptance for Blockchain-Based Digital Payment Systems in Bhutan
by Tenzin Norbu, Joo Yeon Park, Kok Wai Wong and Hui Cui
Future Internet 2025, 17(4), 134; https://doi.org/10.3390/fi17040134 - 21 Mar 2025
Viewed by 209
Abstract
Blockchain is a secure, digital ledger that enables faster transactions, reduces fraud, lowers costs, and enhances transparency. The blockchain is capable of changing the face of digital payments by providing greater opportunities for transformation. Consumer acceptance in emerging markets such as Bhutan depends [...] Read more.
Blockchain is a secure, digital ledger that enables faster transactions, reduces fraud, lowers costs, and enhances transparency. The blockchain is capable of changing the face of digital payments by providing greater opportunities for transformation. Consumer acceptance in emerging markets such as Bhutan depends on a number of key factors. This paper explores the impact of performance expectancy, effort expectancy, social influence, and facilitating conditions on consumer acceptance of blockchain-based digital payment systems in Bhutan. Sustained by the Unified Theory of Acceptance and Use of Technology (UTAUT), the study uses PLS-SEM to analyze survey data from 302 respondents. The results show that performance expectancy, the expectation of blockchain’s usefulness, is the most influential factor determining customer acceptance. Effort expectancy and facilitating conditions are equally important. Social influences, although rather marginal, play an important role in Bhutan’s collectivist culture. The paper sheds light on factors for consumer acceptance of blockchain adoption. The findings add to the literature on blockchain adoption in burgeoning economies and provide the foundation for further research on blockchain adoption in multi-cultural contexts. Full article
(This article belongs to the Special Issue Advances in Smart Environments and Digital Twin Technologies)
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