Adaptive Blockchain Solution to Fight Against Financial Corruption in an Organization

Ghadekar, Premanand; Kachare, Tejas; Sikchi, Sagar; Hussain, Talib; Maladhari, Pradunya

doi:10.1007/978-3-031-20141-7_13

Cited by 2 publications

(2 citation statements)

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“…The efficacy enhancements achieved through monitoring are substantiated by empirical evidence (Parenti et al, 2021), which indicates a decrease in illicit transactions in systems using blockchain compared to traditional financial infrastructures. We agree with Ghadekar et al (2023) that the technology should increase user awareness of the use of virtual assets. In contrast to Semenzin's et al (2022) findings, our analysis highlights the promising prospects of blockchain technology in enhancing transactional transparency and security within electronic government services.…”

Section: Discussionmentioning

confidence: 58%

“…In Europe, according to Ghadekar et al (2023), due to progressive regulatory policy and openness to innovation, the use of blockchain technologies to combat corruption in virtual assets has already yielded positive results. To ensure greater transparency and efficiency, European countries actively research and implement blockchain solutions in various areas, from financial services to public administration.…”

Section: Introductionmentioning

confidence: 99%

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The Role of Blockchain Technologies in Combating Corruption within the Virtual Assets Realm

2024

PJC

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The utilisation of blockchain technology can greatly hinder the perpetration of corrupt deeds owing to its data immutability and transparency. The purpose of the study is to assess the impact of blockchain integration on reducing corruption risks in the realm of virtual assets. It was found that since the introduction of blockchain, Estonia has almost doubled the ranking of countries in anti-corruption. According to the study, the volume of illegal cryptocurrency transactions continues to grow, requiring financial systems to adapt to new challenges. The prospect of further research should be based on strengthening financial security. The scientific novelty lies in the recognition of blockchain technologies’ potential as a tool for ensuring transparency and information inviolability within the virtual assets realm. The practical value of the study lies in developing recommendations for integrating blockchain technologies into virtual assets’ control and audit, which will contribute to enhancing the effectiveness of anti-corruption measures

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Section: Discussionmentioning

confidence: 58%

Section: Introductionmentioning

confidence: 99%