IDEAS home Printed from https://ideas.repec.org/a/spr/fininn/v9y2023i1d10.1186_s40854-022-00442-6.html
   My bibliography  Save this article

Investigating the components of fintech ecosystem for distributed energy investments with an integrated quantum spherical decision support system

Author

Listed:
  • Rui Ai

    (Bank of China Chengdu High-Tech Industrial Development Zone Sub-Branch)

  • Yuhang Zheng

    (University of Electronic Science and Technology of China)

  • Serhat Yüksel

    (İstanbul Medipol University)

  • Hasan Dinçer

    (İstanbul Medipol University)

Abstract

This study aimed to evaluate the components of a fintech ecosystem for distributed energy investments. A new decision-making model was created using multiple stepwise weight assessment ratio analysis and elimination and choice translating reality techniques based on quantum spherical fuzzy sets. First, in this model, the criteria for distributed energy investment necessities were weighted. Second, we ranked the components of the fintech ecosystem for distributed energy investments. The main contribution of this study is that appropriate strategies can be presented to design effective fintech ecosystems to increase distributed energy investments, by considering an original fuzzy decision-making model. Capacity is the most critical issue with respect to distributed energy investment necessities because it has the greatest weight (0.261). Pricing is another significant factor for this condition, with a weight of 0.254. Results of the ranking of the components of the fintech ecosystem indicate that end users are of the greatest importance for the effectiveness of this system. It is necessary to develop new techniques for the energy storage process, especially with technological developments, to prevent disruptions in energy production capacity. In addition, customers’ expectations should be considered for the development of effective and user-friendly financial products that are preferred by a wider audience. This would have a positive effect on fintech ecosystem performance.

Suggested Citation

  • Rui Ai & Yuhang Zheng & Serhat Yüksel & Hasan Dinçer, 2023. "Investigating the components of fintech ecosystem for distributed energy investments with an integrated quantum spherical decision support system," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-28, December.
    • Handle: RePEc:spr:fininn:v:9:y:2023:i:1:d:10.1186_s40854-022-00442-6
    DOI: 10.1186/s40854-022-00442-6
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1186/s40854-022-00442-6
    File Function: Abstract
    Download Restriction: no
    File URL: https://libkey.io/10.1186/s40854-022-00442-6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Zulfiqar Ali Baloch & Qingmei Tan & Hafiz Waqas Kamran & Muhammad Atif Nawaz & Gadah Albashar & Javaria Hameed, 2022. "A multi-perspective assessment approach of renewable energy production: policy perspective analysis," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(2), pages 2164-2192, February.
    2. Castagneto Gissey, Giorgio & Zakeri, Behnam & Dodds, Paul E. & Subkhankulova, Dina, 2021. "Evaluating consumer investments in distributed energy technologies," Energy Policy, Elsevier, vol. 149(C).
    3. Olabi, A.G. & Abdelkareem, Mohammad Ali, 2022. "Renewable energy and climate change," Renewable and Sustainable Energy Reviews, Elsevier, vol. 158(C).
    4. Kou, Gang & Yüksel, Serhat & Dinçer, Hasan, 2022. "Inventive problem-solving map of innovative carbon emission strategies for solar energy-based transportation investment projects," Applied Energy, Elsevier, vol. 311(C).
    5. Merello, Paloma & Barberá, Antonio & la Poza, Elena De, 2022. "Is the sustainability profile of FinTech companies a key driver of their value?," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    6. Ahmet Faruk Aysan & Abdelilah Belatik & Ibrahim Musa Unal & Rachid Ettaai, 2022. "Fintech Strategies of Islamic Banks: A Global Empirical Analysis," FinTech, MDPI, vol. 1(2), pages 1-10, June.
    7. Joseph P. Hughes & Julapa Jagtiani & Choon-Geol Moon, 2022. "Consumer lending efficiency: commercial banks versus a fintech lender," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-39, December.
    8. Gordon, Jeffrey M., 2022. "Uninterrupted photovoltaic power for lunar colonization without the need for storage," Renewable Energy, Elsevier, vol. 187(C), pages 987-994.
    9. P. K. Senyo & Stan Karanasios & Daniel Gozman & Melissa Baba, 2022. "FinTech ecosystem practices shaping financial inclusion: the case of mobile money in Ghana," European Journal of Information Systems, Taylor & Francis Journals, vol. 31(1), pages 112-127, January.
    10. Zhang, Yao & Zhang, Yuxin & Gong, Chao & Dinçer, Hasan & Yüksel, Serhat, 2022. "An integrated hesitant 2-tuple Pythagorean fuzzy analysis of QFD-based innovation cost and duration for renewable energy projects," Energy, Elsevier, vol. 248(C).
    11. Gang Kou & Özlem Olgu Akdeniz & Hasan Dinçer & Serhat Yüksel, 2021. "Fintech investments in European banks: a hybrid IT2 fuzzy multidimensional decision-making approach," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-28, December.
    12. Mansour Saleh Albarrak & Sara Ali Alokley, 2021. "FinTech: Ecosystem, Opportunities and Challenges in Saudi Arabia," JRFM, MDPI, vol. 14(10), pages 1-13, September.
    13. Tadiwanashe Muganyi & Linnan Yan & Yingkai Yin & Huaping Sun & Xiangbin Gong & Farhad Taghizadeh-Hesary, 2022. "Fintech, regtech, and financial development: evidence from China," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-20, December.
    14. Santiago Carbó-Valverde & Pedro J. Cuadros-Solas & Francisco Rodríguez-Fernández, 2022. "Entrepreneurial, institutional and financial strategies for FinTech profitability," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-36, December.
    15. Ramona Rupeika-Apoga & Stefan Wendt, 2021. "FinTech in Latvia: Status Quo, Current Developments, and Challenges Ahead," Risks, MDPI, vol. 9(10), pages 1-23, October.
    16. Daud, Siti Nurazira Mohd & Ahmad, Abd Halim & Khalid, Airil & Azman-Saini, W.N.W., 2022. "FinTech and financial stability: Threat or opportunity?," Finance Research Letters, Elsevier, vol. 47(PB).
    17. Fan Fang & Carmine Ventre & Michail Basios & Leslie Kanthan & David Martinez-Rego & Fan Wu & Lingbo Li, 2022. "Cryptocurrency trading: a comprehensive survey," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-59, December.
    18. Chao, Xiangrui & Kou, Gang & Peng, Yi & Viedma, Enrique Herrera, 2021. "Large-scale group decision-making with non-cooperative behaviors and heterogeneous preferences: An application in financial inclusion," European Journal of Operational Research, Elsevier, vol. 288(1), pages 271-293.
    19. Mukhtarov, Shahriyar & Yüksel, Serhat & Dinçer, Hasan, 2022. "The impact of financial development on renewable energy consumption: Evidence from Turkey," Renewable Energy, Elsevier, vol. 187(C), pages 169-176.
    20. Muthukannan, Priyadharshini & Tan, Barney & Chian Tan, Felix Ter & Leong, Carmen, 2021. "Novel mechanisms of scalability of financial services in an emerging market context: Insights from Indonesian Fintech Ecosystem," International Journal of Information Management, Elsevier, vol. 61(C).
    21. Majd Olleik & Hassan Hamie & Hans Auer, 2022. "Using Natural Gas Resources to De-Risk Renewable Energy Investments in Lower-Income Countries," Energies, MDPI, vol. 15(5), pages 1-22, February.
    22. HATAMI-MARBINI, Adel & TAVANA, Madjid & MORADI, MAsoumeh & KANGI, Fatemeh, 2013. "A fuzzy group Electre method for safety and health assessment in hazardous waste recycling facilities," LIDAM Reprints CORE 2447, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    23. Guangqi Liang & Dongxiao Niu & Yi Liang, 2021. "Sustainability Evaluation of Renewable Energy Incubators Using Interval Type-II Fuzzy AHP-TOPSIS with MEA-MLSSVM," Sustainability, MDPI, vol. 13(4), pages 1-22, February.
    24. Jane Rose Atwongyeire & Arkom Palamanit & Adul Bennui & Mohammad Shakeri & Kuaanan Techato & Shahid Ali, 2022. "Assessment of Suitable Areas for Smart Grid of Power Generated from Renewable Energy Resources in Western Uganda," Energies, MDPI, vol. 15(4), pages 1-31, February.
    25. Marcel C. Minutolo & Werner Kristjanpoller & Prakash Dheeriya, 2022. "Impact of COVID-19 effective reproductive rate on cryptocurrency," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-27, December.
    26. Qihang Xue & Caiquan Bai & Weiwei Xiao, 2022. "Fintech and corporate green technology innovation: Impacts and mechanisms," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(8), pages 3898-3914, December.
    27. Matheus Koengkan & José Alberto Fuinhas & Isabel Vieira, 2020. "Effects of financial openness on renewable energy investments expansion in Latin American countries," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 10(1), pages 65-82, January.
    28. Solangi, Yasir Ahmed & Longsheng, Cheng & Shah, Syed Ahsan Ali, 2021. "Assessing and overcoming the renewable energy barriers for sustainable development in Pakistan: An integrated AHP and fuzzy TOPSIS approach," Renewable Energy, Elsevier, vol. 173(C), pages 209-222.
    29. Bo Li & Zeshui Xu, 2021. "Insights into financial technology (FinTech): a bibliometric and visual study," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-28, December.
    30. Upma Singh & Mohammad Rizwan & Hasmat Malik & Fausto Pedro García Márquez, 2022. "Wind Energy Scenario, Success and Initiatives towards Renewable Energy in India—A Review," Energies, MDPI, vol. 15(6), pages 1-39, March.
    31. Fan Fang & Carmine Ventre & Michail Basios & Leslie Kanthan & Lingbo Li & David Martinez-Regoband & Fan Wu, 2020. "Cryptocurrency Trading: A Comprehensive Survey," Papers 2003.11352, arXiv.org, revised Jan 2022.
    32. Murinde, Victor & Rizopoulos, Efthymios & Zachariadis, Markos, 2022. "The impact of the FinTech revolution on the future of banking: Opportunities and risks," International Review of Financial Analysis, Elsevier, vol. 81(C).
    33. Bastian-Pinto, Carlos L. & Araujo, Felipe V. de S. & Brandão, Luiz E. & Gomes, Leonardo L., 2021. "Hedging renewable energy investments with Bitcoin mining," Renewable and Sustainable Energy Reviews, Elsevier, vol. 138(C).
    34. Martin Chorzempa & Yiping Huang, 2022. "Chinese Fintech Innovation and Regulation," Asian Economic Policy Review, Japan Center for Economic Research, vol. 17(2), pages 274-292, July.
    35. Tsao, Yu-Chung & Vu, Thuy-Linh & Lu, Jye-Chyi, 2021. "Pricing, capacity and financing policies for investment of renewable energy generations," Applied Energy, Elsevier, vol. 303(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Olesya P. Kazachenok & Galina V. Stankevich & Natalia N. Chubaeva & Yuliya G. Tyurina, 2023. "Economic and legal approaches to the humanization of FinTech in the economy of artificial intelligence through the integration of blockchain into ESG Finance," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-9, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ine Zeeland & Jo Pierson, 2024. "Changing the whole game: effects of the COVID-19 pandemic's accelerated digitalization on European bank staff's data protection capabilities," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-28, December.
    2. Husam Rjoub & Tomiwa Sunday Adebayo & Dervis Kirikkaleli, 2023. "Blockchain technology-based FinTech banking sector involvement using adaptive neuro-fuzzy-based K-nearest neighbors algorithm," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-23, December.
    3. Laurens Swinkels, 2023. "Empirical evidence on the ownership and liquidity of real estate tokens," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-29, December.
    4. Wei Xu & Daning Hu & Karl Reiner Lang & J. Leon Zhao, 2022. "Blockchain and digital finance," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-4, December.
    5. Fatih Ecer & Tolga Murat & Hasan Dinçer & Serhat Yüksel, 2024. "A fuzzy BWM and MARCOS integrated framework with Heronian function for evaluating cryptocurrency exchanges: a case study of Türkiye," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-29, December.
    6. Virginie Terraza & Aslı Boru İpek & Mohammad Mahdi Rounaghi, 2024. "The nexus between the volatility of Bitcoin, gold, and American stock markets during the COVID-19 pandemic: evidence from VAR-DCC-EGARCH and ANN models," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-34, December.
    7. Yi-Hsiang Lu & Ching-Chiang Yeh & Yu-Mei Kuo, 2024. "Exploring the critical factors affecting the adoption of blockchain: Taiwan’s banking industry," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-25, December.
    8. Tina Linden & Tina Shirazi, 2023. "Markets in crypto-assets regulation: Does it provide legal certainty and increase adoption of crypto-assets?," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-30, December.
    9. Laura Grassi & Simone Fantaccini, 2022. "An overview of Fintech applications to solve the puzzle of health care funding: state-of-the-art in medical crowdfunding," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-27, December.
    10. Wei Li & Serhat Yüksel & Hasan Dinçer, 2022. "Understanding the financial innovation priorities for renewable energy investors via QFD-based picture fuzzy and rough numbers," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-30, December.
    11. Ştefan Cristian Gherghina & Liliana Nicoleta Simionescu, 2023. "Exploring the asymmetric effect of COVID-19 pandemic news on the cryptocurrency market: evidence from nonlinear autoregressive distributed lag approach and frequency domain causality," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-58, December.
    12. Kyohei Shibano & Gento Mogi, 2022. "An analysis of the acquisition of a monetary function by cryptocurrency using a multi-agent simulation model," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-30, December.
    13. Gallego-Losada, María-Jesús & Montero-Navarro, Antonio & García-Abajo, Elisa & Gallego-Losada, Rocío, 2023. "Digital financial inclusion. Visualizing the academic literature," Research in International Business and Finance, Elsevier, vol. 64(C).
    14. Soria, Jorge & Moya, Jorge & Mohazab, Amin, 2023. "Optimal mining in proof-of-work blockchain protocols," Finance Research Letters, Elsevier, vol. 53(C).
    15. Siu Hin Tang & Mathieu Rosenbaum & Chao Zhou, 2023. "Forecasting Volatility with Machine Learning and Rough Volatility: Example from the Crypto-Winter," Papers 2311.04727, arXiv.org, revised Feb 2024.
    16. Marcin Wątorek & Jarosław Kwapień & Stanisław Drożdż, 2022. "Multifractal Cross-Correlations of Bitcoin and Ether Trading Characteristics in the Post-COVID-19 Time," Future Internet, MDPI, vol. 14(7), pages 1-15, July.
    17. Luyao Zhang & Tianyu Wu & Saad Lahrichi & Carlos-Gustavo Salas-Flores & Jiayi Li, 2022. "A Data Science Pipeline for Algorithmic Trading: A Comparative Study of Applications for Finance and Cryptoeconomics," Papers 2206.14932, arXiv.org.
    18. Kirimhan, Destan, 2023. "Importance of anti-money laundering regulations among prosumers for a cybersecure decentralized finance," Journal of Business Research, Elsevier, vol. 157(C).
    19. Kate Murray & Andrea Rossi & Diego Carraro & Andrea Visentin, 2023. "On Forecasting Cryptocurrency Prices: A Comparison of Machine Learning, Deep Learning, and Ensembles," Forecasting, MDPI, vol. 5(1), pages 1-14, January.
    20. Luis Lorenzo & Javier Arroyo, 2023. "Online risk-based portfolio allocation on subsets of crypto assets applying a prototype-based clustering algorithm," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-40, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:fininn:v:9:y:2023:i:1:d:10.1186_s40854-022-00442-6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.