Editorial: Blockchain and tokenomics for sustainable development, volume II

This is the second volume of the Research Topic on tokenomics for sustainable development (Alexopoulos et al., 2025), which concentrates on the investigation of blockchain technology and its applications as a key enabler in unlocking a new phase of the Internet evolution. It entails aspects from both the government (Alexopoulos et al., 2021; Karsten et al., 2020) and the industrial worlds (Freni et al., 2022), unveiling case-by-case the potential of innovation towards a better world. The Research Topic also focuses on developing and strengthening original research on the emerging concept of blockchain toward the development of sustainable solutions that are also connected with the current Sustainable Development Goals (SDGs), a link that recent systematic evidence shows to be uneven across goals and still weakly translated into policy (Mulligan et al., 2024).

As the blockchain ecosystem matures, it is important to clarify how the new breed of global infrastructures created may be turned into value for society (Rodríguez Furones and Ignacio Tejero Monzón, 2023). The overarching aim of this Research Topic is to shed light on how blockchain may contribute to: (a) the attainment of a triple-sustainability paradigm within the global economy and (b) the enhancement of trust—through transparency and immutability—as the ultimate prerequisite of any kind of collaboration (Schlarb et al., 2019). It allows for exploring innovative business and governance models and incentive mechanisms to promote more efficient allocation, redistribution and conservation of financial and natural resources.

This Research Topic brings together interdisciplinary research examining the potential of blockchain technology to address a range of environmental, social, and economic challenges identified within the Sustainable Development Goals (SDGs). It also feeds into the larger conversation around the sustainable uses of blockchain and what it means for moving these global goals forward. The contributions include two major types of studies, i.e., review-based studies and domain-specific implementations, that jointly pave the way for the development and practical use of blockchain technology (BCT).

The first type of studies includes reviews on the following topics: An exploratory review of blockchain applications in the EU compiled by the Public Sector Tech Watch observatory “ Blockchain applications for sustainable development in the EU public sector: An AI-based mapping of Sustainable Development Goals alignment ”. The analysis involved 306 projects towards the assessment of the degree of alignment between project descriptions and the 17 SDGs. The results show strong alignment with SDG 9 (Industry, Innovation and Infrastructure) and SDG 17 (Partnerships for the Goals), followed by more moderate alignment with SDG 8 (Decent Work and Economic Growth), while goals such as SDG 2, 6 and 14 remain weakly represented. These findings provide an empirical overview of how BCT applications in EU public administrations are framed in relation to the SDGs. By highlighting patterns of alignment between BCT adoption and the SDGs, this study offers evidence to inform policymakers, practitioners, and future research on sustainability-oriented public sector innovation (Bosch et al.).

A review and a research agenda on “Decentralized physical infrastructure networks (DePIN) tokenomics” examines the use of crypto-economic incentives to coordinate the crowdsourced deployment and operation of physical infrastructure (Alshater et al.). The findings identify a recurring “DePIN Flywheel” model based on a Burn-and-Mint Equilibrium, in which network demand is monetized through usage credits denominated in fiat currency and generated by burning the network’s native token. Together with governance-adjusted token issuance and collateral requirements, this mechanism constitutes a central component of the economic architecture underlying DePIN networks. Nevertheless, the existing literature points to several persistent challenges, including the effects of token price volatility on provider profitability, the maintenance of effective incentive alignment, the development of adequate non-speculative demand, and the regulatory uncertainty surrounding these emerging models. Similar challenges can already be observed in decentralized markets involving physical-world resources, including energy data (Meneguzzo et al., 2025).

The second type of studies includes domain-specific contributions, including BCT developments in the domains of insurance (health insurance claims), patent tokenization, local communities' self-management, food-waste recovery domain, agentic AI marketplace development, and an optimization analysis of the cryptocurrency stock market, as follows: “Blockchain-enabled tokenization for health insurance claims: trends, challenges, and future directions” The first study presents a comprehensive examination of the challenges currently associated with claims management and highlights the growing role of blockchain technology as a means of strengthening trust within healthcare insurance systems. To assess the current state of research in this area, the study reviews the existing literature and identifies key directions requiring further investigation. Five fundamental components emerge from the analysis as central to the development of blockchain-based healthcare insurance solutions: smart contracts, identity tokens, claim tokens, the orchestration of off-chain medical data, and interoperability mechanisms (Tyagi et al.).

“Thermodynamic control of patent tokenization for sustainable development” The second study develops a framework for improving the efficiency of patent tokenization, thereby broadening opportunities for Intellectual Property (IP) monetization and facilitating innovation that is aligned with the Sustainable Development Goals (SDGs), including developments in resilient infrastructure and climate-related technologies (Peters et al.). Rather than depending on rigid and predetermined plans, the framework provides a more adaptable approach to innovation financing. More broadly, the study demonstrates how thermodynamic reasoning can help connect theoretical perspectives with practical applications in innovation finance. It further suggests that universal variational principles observed in physical and biological systems may also provide a useful basis for understanding and structuring financial decision-making.

“Tokenomics design for local communities. Interdisciplinary method for co-design” The third study develops an interdisciplinary perspective for examining and designing socially embedded tokenized systems within local communities (Domenicale et al.). It proposes a participatory co-design methodology that stresses the importance of aligning token structures with community values, non-market forms of social integration, and the relational and context-dependent characteristics of money and digital artifacts. The proposed methodology is preliminarily assessed through a case study focused on food-waste recovery. This work extends the research direction established in the previous volume concerning the token economy of community-oriented blockchain systems, while also complementing formal approaches to the design of community-based incentive mechanisms (Avanzo et al., 2025).

“An agentic AI marketplace for prelitigation analyses with ZKP-integrated ethical verifications” he fourth study develops and validates a conceptual framework for applying zero-knowledge proof (ZKP) cryptographic primitives to verify claims without requiring disclosure of the complete underlying dataset, within the context of European regulatory requirements. The study demonstrates the implementation of an Agentic AI system designed to support pre-litigation analysis and subsequently develops the concept of an Agentic AI marketplace, identifying and describing the technological interactions that may occur within such an environment. Finally, the study formalizes demographic representation as a verifiable property that can be implemented across different technology stacks through the use of smart contracts and oracles (Udokwu et al.).

“Unlocking blockchain-driven financial opportunities: optimizing portfolios with cryptocurrencies and European stock markets” The fifth study demonstrates that cryptocurrencies such as Bitcoin and Ethereum offer substantial return potential, although their pronounced volatility also introduces considerable portfolio risk (Gulyás et al.). In contrast, European equity indices exhibit relatively low correlations with other asset classes and can therefore contribute to greater portfolio stability. Diversification across these asset classes may consequently provide an effective means of reducing overall risk while maintaining opportunities for higher returns. The study further examines the role of blockchain-based financial products in expanding investment opportunities, highlighting their potential to broaden the range of assets available for portfolio construction.

The studies presented in this Research Topic offer valuable insights and identify future research directions concerning the application of blockchain technology (BCT) across a broad range of domains, including health insurance, intellectual property management, local community governance, food-waste recovery, agentic AI ecosystems, and financial portfolio optimization. Collectively, these contributions illustrate both the transformative potential of blockchain and the challenges associated with its implementation. They also demonstrate the increasing maturity and versatility of blockchain technology and tokenomics as mechanisms for supporting sustainable, transparent, and decentralized innovation across public and private sectors. In particular, the studies highlight the potential of BCT to enhance operational efficiency, trust, security, and stakeholder participation. From a tokenomics perspective, they further demonstrate how blockchain-based systems can facilitate value circulation through different combinations of token structures, incentive mechanisms, and governance arrangements.

At the same time, the findings emphasize the economic, governance, and regulatory challenges that need to be addressed to support the long-term adoption and viability of decentralized infrastructures. A central issue concerns the balance between promoting transformative innovation and maintaining economic and institutional stability. The effective implementation of blockchain-based systems therefore requires carefully designed tokenomic models, interoperability among technological infrastructures, compliance with relevant regulatory frameworks, and effective alignment between technological development and broader societal and economic objectives.

Finally, the studies reveal a shift in the alignment of blockchain-related research with the Sustainable Development Goals (SDGs). In the previous Research Topic (Volume I), greater emphasis was placed on SDG 11 (Sustainable Cities and Communities), SDG 7 (Affordable and Clean Energy), SDG 12 (Responsible Consumption and Production), and SDG 13 (Climate Action). In the current Research Topic (Volume II), the focus has expanded toward SDG 9 (Industry, Innovation and Infrastructure), SDG 17 (Partnerships for the Goals), and SDG 8 (Decent Work and Economic Growth). This shift reflects the evolving scope of blockchain applications and suggests that ongoing technological developments are increasingly aligned with, and capable of contributing to, the broader objectives of sustainable development.