scholarly journals Critical Review: Future of Block Chain Economy in Financial Services

2020 ◽  
pp. 9-15
Author(s):  
Lim Hong Hin
Keyword(s):  
Energy Consumption ◽  
Critical Review ◽  
Financial Services ◽  
Smart Contracts ◽  
Legal Regulations ◽  
Financial Industry ◽  
Trade Finance ◽  
Market Participants ◽  
Crypto Currency ◽  
Block Chain

This research paper is based on the future of block chain economy in financial sectors and its significant usage. The researcher emphasized that the block chain technology has the potential to disrupt financial services and it can change the current face of financial Industry. The researcher focused on the significant usage of block chain economy to fraud detection, to maintain the customer’s history, trade finance, and smart contracts. There are some challenging faces of block chain economy towards adoption in financial sectors such as interoperability, privacy, energy consumption, security, scalability, and legal regulations. The researcher also stated that block chain economy is a scenario and potential future environment in which crypto currency replaces current monetary systems on a global basis to become an autonomous market participants in financial sectors. The researcher also highlights the key challenges of block chain economy adoption in financial sectors with current statistics of future analysis.

scholarly journals Corporate culture and frauds: a behavioral finance analysis of the Barclays-LIBOR case

2013 ◽  
Vol 11 (1) ◽  
pp. 447-463 ◽  
Author(s):  
Enrico Maria Cervellati ◽  
Luca Piras ◽  
Matteo Scialanga
Keyword(s):  
Corporate Culture ◽  
Behavioral Finance ◽  
Financial Services ◽  
Financial Industry ◽  
Department Of Justice ◽  
Dominant Culture ◽  
Futures Trading ◽  
Market Participants ◽  
The Us ◽  
Commodity Futures Trading Commission

The aim of this paper is to use behavioral finance to explain the factors that brought Barclays Plc. to face a £290 million fine (about $440 million), having deliberately tried to manipulate the LIBOR (London Interbank Offered Rate). This sums to the £59.5 million fined by the British Financial Services Authority (FSA) – the highest fine ever imposed by this organization – and respectively £102 million and £128 million by the US Department of Justice and by the Commodity Futures Trading Commission (CFTC). We analyze the reports issued by the U.S. and the British regulatory agencies, and those of financial analysts. Even though the focus of analysis are Barclays’ actions, we compare them with what other market participants did at the time of the analyzed events, to offer a comprehensive look at the financial industry and its dominant culture. In particular, after describing LIBOR rate determination methodology and the behavior of Barclays personnel when violations occurred, we present Barclays’ failures in organizing its own control systems and establishing a proper corporate culture. Finally, we analyze the behavior of market participants and supervisory authority in evaluating Barclays’ financial and ethical performance.

Functioning of the Fast Payment System in Russia

2021 ◽  
pp. 23-28
Author(s):  
A. Zverev ◽  
Viktoria Valerievna Mandron ◽  
A. Sereda
Keyword(s):  
Customer Service ◽  
Financial Services ◽  
Payment System ◽  
Financial Industry ◽  
Banking Services ◽  
Customer Base ◽  
Market Participants ◽  
New Information ◽  
Banking Business ◽  
Remote Interaction

Digital transformation is the main direction of development of the national financial industry. Traditional banking services are being transferred to online services, especially in the context of the rapid growth of e-commerce. The introduction of new information channels of remote interaction allows credit institutions to reduce their costs, improve the quality and speed of customer service, balance active and passive operations, expand the «line» of banking products and financial services, stabilize and expand the customer base. The development of the banking business based on the introduction of a fast payment system is becoming a necessity for all categories of retail and corporate clients. The creation and development of the infrastructure of the fast payment system is a priority project of the Bank of Russia for the development and expansion of non-cash payments. This project is aimed at developing the availability of financial services in remote regions of Russia and reduces the costs of market participants.

scholarly journals Financial Technologies for Accepting Transactions Using Block Chain Technology and Crypto Currency in Digital Marketing

2021 ◽  
Vol 3 (4) ◽  
pp. p23
Author(s):  
Mohammadali Shahbandi
Keyword(s):  
Digital Marketing ◽  
Innovative Technology ◽  
Financial Industry ◽  
New Paradigm ◽  
Statistical Population ◽  
Crypto Currency ◽  
Potential Benefits ◽  
Block Chain ◽  
Financial Transactions ◽  
Start Ups

Recently, block chain technology as an innovative technology has attracted attention and spread. Its potential benefits have led organizations to decide to adopt the technology. Therefore, this research aims for FinTech start-ups to accept financial transactions using block chain technology and crypto currency in digital marketing for the use of users. The present study is a survey and a researcher-made questionnaire. The statistical population of this study includes experts in the field of cryptocurrency and block chain who are scientifically or experimentally familiar with this field. This study shows that FinTech introduces a new paradigm in which information technology drives innovation in the financial industry. As a changing game, FinTech is a destructive innovation that is able to stimulate traditional financial markets. Investors in emerging markets are looking for innovation to gain a foothold.

The SEC Speaks 2018: the US Securities and Exchange Commission’s current priorities and conference overview

2018 ◽  
Vol 19 (3) ◽  
pp. 1-4
Author(s):  
Gerald J. Russelo ◽  
Stephen L. Cohen ◽  
Jose F. Sanchez
Keyword(s):  
Financial Services ◽  
Design Methodology ◽  
Regulatory Compliance ◽  
Securities And Exchange Commission ◽  
Financial Industry ◽  
Content Type ◽  
Market Participants ◽  
The Us ◽  
Past Experiences ◽  
Insight Into

Purpose This paper aims to highlight certain comments made by US Securities and Exchange Commission (SEC) officials, which may provide insight into compliance and enforcement issues that may be important for market participants, including broker-dealers, investment advisors and reporting companies, in the future. Design/methodology/approach This paper explains comments made by SEC officials and highlights potential regulatory issues based on past experiences of attorneys within the firm, past comments made by the SEC and Financial Industry Regulatory Authority and past regulatory exam results. Findings This paper summarizes remarks from the recent SEC Speaks 2018 Conference conducted by SEC officials related to the Commission’s regulatory and enforcement priorities. Issuers, brokers, advisors and other financial organizations should familiarize themselves with the themes and guidance discussed at the Conference to prepare for regulatory compliance challenges in the upcoming year. Originality/value Practical guidance from experienced securities and financial services lawyers.

scholarly journals Digital Market using Blockchain Technology in Cloud Environment

2020 ◽  
Vol 9 (6) ◽  
pp. 859-863
Keyword(s):  
Performance Optimization ◽  
Financial Services ◽  
Research Work ◽  
Third Party ◽  
Smart Contracts ◽  
Cloud Environment ◽  
Market System ◽  
Blockchain Technology ◽  
Block Chain ◽  
Iot Devices

The majority organizations associate blockchain technology with the financial services manufacturing, it has concealed use within the manufacturing, government, healthcare, and education sectors as well. The Block chain is an unlock and dispersed ledger. The Blockchain contract between two or more parties is confirmable and everlasting documentation. The Proposed System is smart market system, in this system Producers can sell the product directly in the market under the municipal counsil supervision or through online using block chain technology in cloud environment. The planned work is to intend a decentralized cloud server. We are powerful authentication where the information regarding all the products is encrypted. Those who have registered in the system come to know the product details about selling and purchasing. A highly developed method in cryptography can be used to address the issue of confidentiality, and some system could even monitor how much contact persons have. The blockchain technology is united with cloud computing to offer the enlarged transparency and efficient market system. The proposed research work can apply merkle tree in the designed algorithm on smart contracts performance optimization and automatic repair. We acquire benefits of the scattered confirmation security of the Blockchain technology for financial transaction verification and influence smart contracts for protected service organization. In this system bitcoin, cryptocurrencies or any other money transfer mechanism is used for transaction. Without a third party dealings may get more profit for both sides. Different types of on-site circumstances are collected and checked by installing sensors that are IoT devices in different services, and on-site calculating devices are restricted slightly if required.

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