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ISSN (Online) 2581-9429

IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.53 Volume 4, Issue 2, February 2024

Blockchain Enabled Smart Contracts for Digital


Assets
Shreya Kulkarani1, Sahana V1, Prof. Pathanjali2
Undergraduate Students, Department of Information Science and Engineering1,2
Assistant Professor, Department of Information Science and Engineering3
Global Academy of Technology, Bangalore, India

Abstract: The diverse applications and benefits of blockchain technology and smart contracts across
various sectors are explored in this overview. Decentralized Finance (DeFi) projects, supply chain
management, tokenization of assets, NFT platforms, and identity verification stand out as prominent
examples. Smart contracts are lauded for their cost efficiency and security, underpinned by blockchain's
cryptographic features that fortify system integrity. Blockchain's global accessibility facilitates cross-
border transactions, while decentralized exchanges (DEX) mitigate censorship and counterparty risks,
empowering users with asset control. Moreover, blockchain expands investment opportunities through asset
tokenization, encompassing diverse classes such as real estate and intellectual property, bolstering security
and transparency through immutable ownership records. Oracles play a vital role in integrating real-time
data into DeFi ecosystems, informing decision-making by linking off-chain data with blockchain
networks.Diverse token standards like ERC-20 and ERC-721 are pivotal, catering to fungible and non-
fungible token ecosystems respectively. Lastly, the advantages of proof of stake (PoS) over proof of work
(PoW) are highlighted, emphasizing PoS's energy efficiency, transaction throughput, and scalability..

Keywords: Blockchain, smart contracts, decentralized finance (DeFi), supply chain management,
tokenization, NFT platforms, identity verification, cost efficiency, security, global accessibility,
decentralized exchanges (DEX), investment opportunities, transparency, oracles, real-time data integration,
ERC-20, ERC-721, proof of stake (PoS), proof of work (PoW).

I. INTRODUCTION
Blockchain technology has emerged as a transformative force, revolutionizing the way transactions are conducted and
assets are managed in the digital age. At its core, blockchain offers a decentralized and immutable ledger system that
ensures transparency, security, and trust in peer-to-peer transactions. Central to this innovation is smart contracts,
programmable self-executing contracts that automate the enforcement of predefined terms and conditions without the
need for intermediaries. These smart contracts not only streamline processes but also reduce costs and eliminate the
potential for human error or manipulation.
In parallel, the rise of digital assets has further reshaped the economic landscape, offering new avenues for value
exchange and investment opportunities. Digital assets encompass a wide range of assets, from cryptocurrencies like
Bitcoin and Ethereum to tokenized securities and digital representations of physical assets. Their significance lies in
their ability to democratize access to financial services, facilitate cross-border transactions, and unlock liquidity in
traditionally illiquid markets.
This review paper delves into the intersection of blockchain technology, smart contracts, and digital assets, with a focus
on exploring the potential of blockchain-enabled smart contracts in managing and exchanging digital assets. By
examining the underlying principles, implementation challenges, real-world applications, and prospects of this
technology, the paper aims to provide insights into how blockchain-enabled smart contracts are reshaping the landscape
of digital asset management and opening up new possibilities for innovation and disruption in various industries.

Copyright to IJARSCT DOI: 10.48175/IJARSCT-15404 25


www.ijarsct.co.in
ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.53 Volume 4, Issue 2, February 2024

II. BLOCK CHAIN BASEDTECHNIQUES


This review paper focuses on blockchain-enabled smart contracts for digital assets, a variety of techniques are
employed to investigate, develop, and analyze this dynamic intersection of technology and finance. This includes the
development of smart contracts and decentralized applications (DApps) using blockchain platforms like Ethereum or
Hyperledger Fabric. Additionally, researchers often conduct empirical studies to gather data on the usage and
performance of such smart contracts, while also analyzing real-world case studies to understand implementation
challenges and outcomes. Security analysis is paramount, involving thorough audits to identify and mitigate potential
vulnerabilities. Compliance with regulatory frameworks, user experience research, and economic analysis of tokenized
ecosystems are also essential components. Lastly, forecasting future trends and developments based on current research
and industry trends allows researchers to anticipate the trajectory of blockchain-enabled smart contracts for digital
assets. These techniques collectively contribute to a deeper understanding of the opportunities and challenges within
this evolving landscape.

2.1 Proof of Delivery of Digital Assets Using Blockchain and Smart Contracts[1]
This research paper presents a blockchain-based solution for Proof of Delivery (POD) of digital assets, addressing the
challenge of securely delivering digital content between parties. The proposed solution utilizes Ethereum smart
contracts and the Interplanetary File System (IPFS) to ensure decentralized, trusted, traceable, and secure delivery of
digital assets, including digital books, photos, documents, videos, and music. The system involves various entities,
including the owner of the digital content, file servers for storing the content, customers purchasing the content, an
arbitrator for dispute resolution, and a Smart Contract Attestation Authority (SCAA) to ensure contract compliance.
Off-chain communication is facilitated for secure content download, and automatic payment and dispute resolution
mechanisms are implemented within the smart
Advantages:
It eliminates intermediaries, providing a decentralized platform for asset exchange, and reducing dependency on
centralized authorities.
Disadvantage:
Blockchain networks may face scalability issues during congestion, leading to slower transactions and higher fees.

2.2 A Blockchain and smart contracts-based framework to increase the traceability of built assets [2]
The document discusses key recommendations from the Hackitt Report, emphasizing the necessity of traceability and
digital record-keeping in the construction sector. It identifies various failings in roles, regulations, compliance
processes, and information quality. The paper proposes leveraging emerging technologies such as blockchain, smart
contracts, and IoT to tackle these issues. A framework integrating distributed ledger technology (DLT) and smart
contracts is outlined to enhance traceability and digital record-keeping, particularly focusing on maintenance and repair
during the building lifecycle. Components of the framework include a National Product Database, a Construction
Certification Organization, and an e-marketplace for procurement. Automation through a DAO is suggested to
streamline maintenance activities and ensure compliance. Validation with industry practitioners and simulation testing
is planned for further development, aiming to overcome implementation barriers.
Advantages:
Enhanced Traceability: Utilizing technologies like blockchain and smart contracts improves the traceability of products,
materials, and activities throughout the building lifecycle, facilitating better accountability and transparency.
Improved Record-Keeping: Digital record-keeping enables the seamless tracking of building information from design
to maintenance, ensuring easy access to crucial data and facilitating informed decision-making.
Disadvantages:
Implementation Complexity: Integrating emerging technologies like blockchain and smart contracts into existing
construction processes may be complex and require significant investment in infrastructure, training, and adaptation.
Technical Challenges: Adoption of new technologies may face technical hurdles such as interoperability issues, data
integration challenges, and scalability concerns, potentially hindering seamless implementation.

Copyright to IJARSCT DOI: 10.48175/IJARSCT-15404 26


www.ijarsct.co.in
ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.53 Volume 4, Issue 2, February 2024

2.3 Blockchain economic theory: digital asset contracting reduces debt and risk [3]
This study presents a thorough Blockchain Economic Theory of Digital Asset Contracting as a model for explaining the
revolutionary impact of blockchain technology on numerous economic aspects. It examines how blockchain-registered
digital assets enable quick transactions and new forms of contracting, resulting in novel financial interactions. The
article investigates the possible use of blockchain technology to address economic issues such as debt, systemic risk,
job outsourcing, entitlement overhang, healthcare cost-outcome discrepancies, and financial inclusion. It explains ideas
such as smart contracts, cryptocurrency tokens, and payment channels, emphasizing their importance in debt
restructuring and risk management. The article also investigates the formation of new kinds of money and financial
interaction patterns enabled by blockchain technology.
Advantages:
Blockchain technology enables fast and efficient transactions, reducing the need for intermediaries and streamlining
financial interactions. This efficiency can lead to cost savings and improved productivity.
Disadvantages:
The regulatory landscape surrounding blockchain and cryptocurrencies is still evolving, creating uncertainty for
businesses and investors. Regulatory uncertainty can impede investment and innovation in blockchain technology and
limit its potential for widespread adoption in regulated industries.

2.4 Applications of Distributed Ledger Technology and Blockchain-enabledSmart Contracts inConstruction [4]
This paper presents a systematic review of 153 papers focusing on the application of distributed ledger technology
(DLT) and smart contracts in the design, construction, and operation of built assets within the construction sector.
Thematic analysis reveals eight key application themes, including information management, payments, procurement,
supply chain management, regulations and compliance, construction management and delivery, dispute resolution, and
technological systems. The review highlights the transition of research from theoretical insights to proofs-of-concept
and case studies, indicating a growing interest in practical applications. Additionally, the paper discusses the socio-
technical perspective of DLT and smart contract adoption in construction, emphasizing the need for comprehensive
approaches to drive meaningful change. This systematic review serves as a valuable reference for researchers,
practitioners, and policymakers interested in the future development of DLT and smart contract applications in
construction.
Advantages:
Automation through smart contracts can streamline various processes inconstruction, such as payments, procurement,
and dispute resolution. This efficiency can lead to cost savings, faster project delivery, and improved overall project
management.
Disadvantages:
Implementing DLT and smart contracts requires technical expertise and infrastructure. Construction firms mayface
challenges in understanding and adopting these technologies, especially smaller companies with limited resources and
IT capabilities.

2.5 SPChain: A smart and private Blockchain-enabled framework for combining GDPR-Compliant digital
assets management with AI models [5]
The abstract discusses the challenges of traditional digital asset management systems, where data processing lacks
transparency due to centralized control, while also highlighting the potential of blockchain technology to address these
issues with its tamper-resistance and decentralization features. However, the implementation of GDPR principles, such
as the Right to Be Forgotten, presents conflicts with blockchain's immutable nature. Additionally, artificial intelligence
models are incorporated to enhance accessibility and creativity with digital assets while maintaining GDPR compliance.
The paper explores the application of SPChain in digital art management using Hyperledger Fabric for implementation,
aiming to benefit stakeholders by securely managing digital assets and ensuring GDPR compliance.

Copyright to IJARSCT DOI: 10.48175/IJARSCT-15404 27


www.ijarsct.co.in
ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.53 Volume 4, Issue 2, February 2024

Advantages:
By combining blockchain with a decentralized Interplanetary File System (IPFS), SPChain mitigates the risk of single
points of failure (SPOF) associated with centralized data management systems, thus enhancing data security and
resilience against potential cyberattacks.
Disadvantages:
Despite its innovative approach, SPChain faces challenges in complying with GDPR principles, such as the Right to Be
Forgotten, due to blockchain's immutable nature, which may hinder its adoption in environments with stringent data
privacy regulations.

2.6 Towards Blockchain-enabled open architectures for scalable digital Assets platform [6]
The document discusses the challenges and limitations of the current smart contract paradigm in the context of
blockchain technology, particularly in decentralized finance (DeFi). It highlights the need for a broader computational
paradigm to facilitate seamless interaction between blockchain networks and legacy systems, ensuring openness, trust,
and consistency of asset states across heterogeneous systems. The proposed solution involves the introduction of a new
computational paradigm that permits the free flow of assets between blockchains and legacy systems, facilitated by a
digital twin container mediating between on-chain and off-chain worlds. Additionally, the document addresses the
limitations of smart contracts, such as their constrained view of the world and reliance on oracles to interact with
external systems, leading to the creation of data and asset silos. It proposes enhancing current architectures to minimize
on-chain state information, connect on-chain state with richer off-chain information, and facilitate asset exchange
among heterogeneous systems while maintaining consistency.
Advantages:
The proposed approach aims to bridge the gap between blockchain networks and legacy systems, enabling seamless
asset flow across heterogeneous systems. This interoperability facilitates greater accessibility and usability of digital
assets, potentially expanding their reach and utility.
Disadvantages:
Despite aiming to minimize reliance on oracles for external data access, the document acknowledges their necessityin
current smart contract paradigms. Oracles introduce a point of potential vulnerability and centralization, as they are
responsible for fetching external data and transmitting it to the blockchain, raising concerns about data integrity and
security. Additionally, the accumulation of data on the blockchain due to Oracle interactions may lead to scalability
issues over time.

2.7 Blockchain-enabled digital assets tokenization for cyber-physical traceability in E-commerce logistics
financing [7]
E-commerce logistics financing (LF) plays a crucial role in supporting small and medium-sized logistics companies
(LCs) to remain competitive. However, challenges such as information silos, centralized IT solutions, and opaque
information ownership hinder LF adoption in supply chains. To address these issues, this study introduces a blockchain-
enabled cyber-physical traceability system for logistics financing, leveraging digital asset tokenization. The system
aims to enhance visibility and traceability in both cyber and physical transactions within the supply chain, thereby
facilitating operations and minimizing upfront costs. By integrating stakeholder devices with blockchain technology
and utilizing tokenization for digital assets, the proposed system enhances information sharing and reliability while
maintaining privacy and reducing switching costs. The objectives include proposing the system, utilizing blockchain
tokens for traceability, examining design considerations, and demonstrating implementation. The paper reviews
relevant literature, discusses system design considerations, presents system development and implementation, and
provides an illustrative case study.
Advantages:
T The blockchain-enabled cyber-physical traceability system provides increased transparency by leveraging digital
asset tokenization. This transparency fosters trust among stakeholders as they can easily verify the authenticity and
ownership of digital assets, leading to more efficient and secure transactions.

Copyright to IJARSCT DOI: 10.48175/IJARSCT-15404 28


www.ijarsct.co.in
ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.53 Volume 4, Issue 2, February 2024

Disadvantages:
D While blockchain technology offers transparency, it also raises privacy concerns due to the immutable nature of the
ledger. Participants may hesitate to share sensitive information on a public blockchain, fearing exposure of confidential
data to unauthorized parties. This privacy issue can hinder adoption, particularly among stakeholders in highly
regulated industries.

2.8 Log-Flock: A blockchain-enabled platform for digital asset valuation and risk assessment in E-commerce
logistics financing [8]

The exponential growth of e-commerce in recent years has propelled the logistics industry to the forefront, necessitating
the need for logistics companies (LCs) to expand their operational capabilities. However, small and medium-sized LCs
often face challenges in obtaining financing due to limited tangible assets, unclear operating capabilities, and a lack of
reliable information-sharing mechanisms. To address these issues, this study proposes leveraging the digital assets of
LCs for logistics financing through a platform called Log-Flock. This platform integrates the Internet of Things (IoT),
cyber-physical systems (CPS), and blockchain technologies to streamline the financing process. By utilizing IoT and
CPS, digital assets are generated to represent LCs' operational capabilities, while blockchain ensures transparency and
trust in digital asset valuation and risk assessment. The proposed platform aims to reduce financing time and
communicate LCs' operating capabilities effectively to financial institutions. Overall, Log-Flock presents a novel
approach to logistics financing, harnessing the power of digital assets and blockchain technology to support the growth
of small and medium-sized LCs in the e-commerce ecosystem.
Advantages:
The implementation of Log-Flock significantly reduces the time required for logistics financing, providing LCs with
quicker access to capital. This streamlined process can help LCs seize business expansion opportunities more
efficiently.
Disadvantages:
Developing and implementing a complex platform like Log-Flock may pose technical and logistical challenges.
Integration with existing systems, ensuring data security, and managing interoperability issues could require substantial
resources and expertise.

2.9 Blockchain and Digital Assets [9]


The introduction traces the historical trajectory of asset exchange from ancient bartering systems to modern financial
transactions, emphasizing the pivotal role of trust and intermediaries. It highlights the limitations of traditional
intermediaries, which have led to reliance on third parties for transaction management. The advent of blockchain and
Distributed Ledger Technologies (DLTs) offers a decentralized alternative, enabling transparent validation without
intermediaries. Section 2 delves into the concept of digital assets, particularly crypto assets or tokens, which are
electronically stored transmitted, and represented by cryptographic tokens. Token modeling, discussed in this section,
defines the rules and conditions for transacting digital assets on blockchains. Section 3 explores fungible token
standards, starting with basic "Coloured coins" on the Bitcoin blockchain and then focusing on Ethereum-based
standards like ERC-20 and its upgrades such as ERC-223 and ERC-621. Finally, Section 4 introduces non-fungible
tokens (NFTs) using the ERC-721 specification on the Ethereum blockchain, along with extensions like ERC-994,
ERC-998, and ERC-948, showcasing the diverse applications of blockchain-based tokens and their potential to reshape
asset exchange and transaction management across various domains.

Advantages:
Blockchain technology decentralizes transaction management, eliminating the need for central authorities and
intermediaries. This reduces the risk of manipulation or fraud and enhances transparency and trust in transactions.

Copyright to IJARSCT DOI: 10.48175/IJARSCT-15404 29


www.ijarsct.co.in
ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.53 Volume 4, Issue 2, February 2024

2.10 Ethereum Based Smart Contracts for Trade and Finance[10]


The document discusses the application of blockchain technology in trade and finance, focusing on Ethereum-based
smart contracts. It highlights the need for transparent and traceable transactions in trade, finance, and supply chain
management due to the increase in cyber-attacks and malicious hacking. The paper emphasizes the role of decentralized
applications (DApps) in enabling transparent and automatic trade transactions. It also discusses the software
requirements for blockchain applications, including the need for open-source software such as Linux or Windows
through virtual machines. The document delves into the technical aspects of blockchain, including Ethereum, smart
contracts, decentralized applications, tokens, and security features. It also addresses the potential benefits of blockchain
in trade finance, such as transparency, traceability, disintermediation, and cost reduction.
Advantages:
Comprehensive Coverage: The methodology provides a comprehensive coverage of the application of blockchain
technology in trade and finance, addressing various aspects such as software requirements, potential benefits,
challenges, and regional impact.
Technical Detail: The methodology delves into technical aspects of blockchain, including Ethereum, smart contracts,
decentralized applications, tokens, and security features, providing a detailed understanding of the technology.
Practical Application: The methodology discusses the practical application of blockchain technology in trade finance,
highlighting potential benefits such as transparency, traceability, disintermediation, and cost reduction.
Disadvantages:
Complexity: The technical nature of the methodology may be challenging for readers without a strong background in
blockchain technology or finance, potentially limiting accessibility to a broader audience.
Limited Discussion of Limitations: While the methodology addresses challenges and ways to overcome them, it may
not fully explore the limitations and potential drawbacks of implementing blockchain technology in trade and finance.
Lack of Empirical Evidence: The methodology may lack empirical evidence or case studies to support the practical
application of blockchain technology in trade and finance, potentially limiting the validation of its effectiveness in real-
world scenarios.

III. ANALYSIS TABLE


The following table gives the analysis of techniques and methods used in research papers on image processing and
identification.
TABLE 1: Analysis of research papers
Sl. No Paper Title Techniques Addressed Issue
1 Proof of Delivery of Digital Assets Ethereum smart contracts, Secure delivery of digital assets,
Using Blockchain and Smart Interplanetary File System (IPFS) decentralized platform, automated
Contracts payment, dispute resolution
2 A Blockchain and smart contracts- B Blockchain, smart contracts, Traceability, digital record-keeping,
based framework to increase the IoT compliance, procurement
traceability of built assets
3 Blockchain economic theory: digital Blockchain, smart contracts, Debt restructuring, risk
asset contracting reduces debt and risk crypto-tokens management, financial inclusion
4 Applications of Distributed Ledger Distributedledger technology Automation, information
Technology and Blockchain-enabled (DLT), smart contracts, thematic management, payment,
Smart Contracts in Construction analysis procurement, dispute resolution
5 SPChain: A smart and private Blockchain, Interplanetary File Privacy, data security, GDPR
Blockchain-enabled framework for System (IPFS), artificial compliance, NFT trading
combining GDPR-Compliant digital intelligence
assets
6 Towards Blockchain-enabled open Blockchain, digital twin Interoperability, asset flow, data
architectures for scalable digital containeroff-chain data integration integrity, scalability

Copyright to IJARSCT DOI: 10.48175/IJARSCT-15404 30


www.ijarsct.co.in
ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.53 Volume 4, Issue 2, February 2024

Assets platform
7 Blockchain-enabled digital assets Blockchain, digital asset Transparency, traceability, privacy
tokenization for cyber-physical tokenization, IoT, cyber-physical concerns, logistics financing
traceability in E-commerce logistics systems
financing
8 Log-Flock: A blockchain-enabled Blockchain, Internet of Things Financing efficiency, transparency,
platform for digital asset valuation (IoT), cyber-physical systems, data security
and risk assessment in E-commerce digital asset tokenization
logistics financing
9 Blockchain and Digital Assets Blockchain, smart contracts, Decentralization, transparency,
digital asset tokenization, fungible environmental concerns
tokens, non-fungible tokens
10 Ethereum Based Smart Contracts for decentralized applications traceability, disintermediation, cost
Trade and Finance (DApps) with front-end, reduction, and automated trade
blockchain back-end, and transactions through smart contracts
middleware components, automating the confirmation of
Hyperledger Fabric and R3 Corda trade documents.
11 Upkeeping digital assets during Blockchain, Building Information Transparency, automation,
construction using blockchain Modeling (BIM), smart contracts standardized information
technology [10] management
12 An exploration of blockchain-enabled Blockchain, smart contracts, Efficiency, transparency,
smart contracts application in the consensus mechanisms immutability, legal implications
enterprise[11]
13 Smart contracts on the blockchain – A Blockchain, smart contracts, Research trends, interdisciplinary
bibliometric analysis and review [12] bibliometric analysis, social connections, legal considerations
network analysis
14 Risks and Opportunities for Systems Blockchain, smart contracts, Transparency, efficiency, privacy
Using Blockchain and Smart digital currency, IoT concerns, regulatory compliance
Contracts [13]
15 Digital building twins and blockchain Digital building twins, Performance-based contracts,
for performance-based smart contracts blockchain-based smart contracts, transparency, sustainability
[14] IoT
16 Decentralized On-Chain Data Access Utilization of Merkle-Patricia Trie Increased Data Transparency,
via Smart Contracts in Ethereum (MPT) data structure, sequential Improved Efficiency,
Blockchain [15] search methodology, partitioning Decentralization.
technique

IV. CONCLUSION
In conclusion, the review on blockchain-enabled smart contracts for digital assets underscores the profound potential of
this technology to redefine how we manage, exchange, and transact with digital assets. By leveraging the decentralized
and immutable nature of blockchain, smart contracts offer a paradigm shift in terms of security, transparency, and
efficiency in transactions. The ability to automate and execute contractual agreements without intermediaries not only
reduces costs but also minimizes the risk of fraud and error.
Throughout this review, it has become evident that blockchain-enabled smart contracts have the capacity to streamline
various processes across industries, including finance, supply chain management, real estate, and intellectual property
rights. However, the realization of this potential is not without its challenges. Scalability issues, interoperability
concerns, and the need for standardized regulatory frameworks pose significant obstacles to widespread adoption.
Moreover, initiatives aimed at addressing scalability through layer 2 solutions and interoperability through cross-chain

Copyright to IJARSCT DOI: 10.48175/IJARSCT-15404 31


www.ijarsct.co.in
ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.53 Volume 4, Issue 2, February 2024

protocols show promise in enhancing the functionality and usability of blockchain-enabled smart contracts.By fostering
an environment conducive to innovation and addressing the inherent challenges, we can unlock the full potential of
blockchain-enabled smart contracts and usher in a new era of digital asset management and exchange.

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