HARMONIZING DIGITAL CURRENCIES WITH INDUSTRY 5.0: A TRANSFORMATIVE NEXUS FOR ECONOMIC EVOLUTION

Abstract

Present work assesses the impact of digital currencies on financial systems and their potential role in shaping the core principles of Industry 5.0. It embarks on an exploration of the synergies, challenges and transformative potentials arising at the intersection of digital currencies and industry 5.0. The aim is to decipher the intricate relationships and dependencies that shape this evolving nexus for economic evolution. A comprehensive framework has been proposed to integrate the digital currencies as part of the Industry 5.0 eco-system. The framework focuses on the crucial elements ranging from strategic vision, regulatory adherence, promoting cooperation as well as prioritizing the ethical considerations. Challenges for successful implementation of the framework have been identified considering the technical as well as organizational aspects. The framework will lead to a roadmap, synthesizing insights for practical guidance to the policymakers, businesses and other stakeholders to harness the transformative potential of this convergence.

DISCLOSURE STATEMENT

No potential conflict of interest was reported by the author(s).

Additional information

Notes on contributors

Gabriel A. Ogunmola

Gabriel A. Ogunmola is an accomplished academician with over 8 years of experience. He holds the title of Chartered Public Administrator and is a registered member of the Association for Computing Machinery (ACM). His qualifications include an MBA in Finance and Human Resource Management, complemented by a Ph.D. in General Management. Currently an Associate Professor in Sharda University’s Department of Business Administration, Uzbekistan, Dr. Ogunmola boasts a stellar scholarly track record, publishing numerous papers in prestigious international journals indexed by SCI, SSCI, and Scopus. Actively engaging in international conferences, he demonstrates a commitment to advancing global academic collaboration. Serving as a Visiting Professor in various institutions, his expertise spans e-business, Web Analytics, Social Media Analytics, Digital Analytics, Technology-Enhanced Learning, and Digital Currency. His comprehensive skills and dedication mark him as a valuable asset to Sharda University and the broader academic community.

Vikas Kumar

Vikas Kumar received M Sc. in Electronics from Kurukshetra University, Haryana, India. This was followed by MSc in Computer Science and further PhD from the same university. He also did his MBA in the area of Information Systems and Operations Management. His PhD work was in collaboration with CEERI, Pilani and he has worked in a number of ISRO sponsored projects. He is a life member of Indian Science Congress Association, Computer Society of India, IETE, ICEIE, IPA, VEDA, IVS and Magnetic Society of India. Dr. Kumar has designed and conducted number of training programs for the corporate sector and is a trainer for a number of Govt of India departments. Along with 15 books, He has more than 120 research papers to his credit in various national and international conferences and journals. He was the Editor of International Quarterly Refereed Journal “Asia-Pacific Business Review” during June 2007-June 2009. Presently, Dr. Kumar is serving at Central University of Haryana and visiting Professor at the Indian Institute of Management, Indore and University of Northern Iowa, USA. The specific areas of his interest include Business Intelligence, e-Business, Social Media Analytics and Web Analytics.