scholarly journals Cryptocurrencies, Blockchain and Regulation: A Review

2019 ◽  
Vol 24 (1) ◽  
pp. 103-130
Author(s):  
Ayesha Afzal
Keyword(s):  
Financial Stability ◽  
High Speed ◽  
Low Cost ◽  
Technological Innovations ◽  
Decentralized System ◽  
Financial Innovations ◽  
Digital Currency ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
High Degree

The evolution of money has accompanied the development of civilizations and technological innovations, leading to today’s cryptocurrencies. Cryptocurrencies have become a popular mode of payment globally because of their low cost, high-speed transferability and a decentralized tracking network that provides secure transactions and a high degree of anonymity. However, the decentralized system of cryptocurrencies has made global monetary systems more dynamic and therefore more prone to misuse as well as posing a threat to financial stability. Cryptocurrencies are also gaining popularity in Pakistan: its first cryptocurrency, named ‘Pakcoin’, was launched in 2015. The State Bank of Pakistan does not recognize any digital currency, and the Federal Board of Revenue and Federal Investigation Agency have taken legal action against local and internationally traded cryptocurrencies. This article reviews these risks and provides various regulatory solutions so that methods can be developed to improve the management of financial innovations and create a safer environment in which financial innovation can continue. Furthermore, developing countries such as Pakistan can take advantage of distributed ledger technology (used in cryptocurrencies) in applications including: microfinance to help the unbanked, in data identification systems and in land registries to help enforce property rights.

scholarly journals Применение оптических технологий для изучения и идентификации микроорганизмов (обзор)

2021 ◽  
Vol 129 (1) ◽  
pp. 100
Author(s):  
А.Н. Cпицын ◽  
Д.В. Уткин ◽  
О.С. Кузнецов ◽  
П.С. Ерохин ◽  
Н.А. Осина ◽  
...  
Keyword(s):  
High Speed ◽  
New Technologies ◽  
Low Cost ◽  
Detection Sensitivity ◽  
Advantages And Disadvantages ◽  
Urgent Task ◽  
Significant Interest ◽  
Analytical Reliability ◽  
High Degree ◽  
Diagnostic Technologies

The study and identification of microorganisms plays asignificant role in the diagnosis of infectious diseases, so an important and urgent task is to introduce new technologies aimed at improving research. Obtaining quantitative and qualitative information about bacteria with high speed, specificity, detection sensitivity, low cost and ease of analysis is particularly substantial. This review examines the use of modern diagnostic technologies that allow for the study of biological systems with a high degree of analytical reliability. Technologies of Raman spectroscopy, FTIR spectroscopy, and surface plasmon resonance used in modern biosensors have proven to be significant and promising research tools. The main advantages and disadvantages of the methods used, as well as the results of their practical use, are indicated. A significant interest induce modern approaches in studying of microorganisms with the use of genetic protein dye – GFP and with applaying nanomaterials – theranostics.

scholarly journals Commodity Trade Finance Platform using Distributed Ledger Technology: Token Economics in a Closed Ecosystem using Agent Based Modeling

2018 ◽  
Author(s):  
Jianfu Wang
Keyword(s):  
Distributed Database ◽  
Agent Based Modeling ◽  
Ecosystem Dynamics ◽  
Total Trade ◽  
Commodity Trade ◽  
Trade Finance ◽  
Decentralized System ◽  
Agent Based ◽  
Distributed Ledger ◽  
Distributed Ledger Technology

Distributed Ledger Technology (DLT) creates a decentralized system for trust and transaction validation using executable smart contracts to update information across a distributed database. This type of ecosystem can be applied to Commodity Trade Finance to alleviate critical issues of information asymmetry and the cost of transacting which are the leading causes of the Trade Finance Gap (ie. the lack of supply of capital to meet total trade finance demand). The possibility of scaling up such ecosystems with a number of Institutional Investors and micro small medium enterprises (MSME) would be advantageous, however, it brings up its own set of challenges including the stability of the system design. Agent-based modeling (ABM) is a powerful method to assess the financial ecosystem dynamics. DLT ecosystems model well under ABM, as the agents present a clearly defined taxonomy. In this study, we use ABM to assess the Aquifer Institute Platform - a DLT-based Commodity Trade Finance system, in which a growing number of participating parties is closely related to the circulation of utility tokens and transaction flows. We study the system dynamics of the platform and propose an appropriate setup for different transaction loads.

scholarly journals A Game Model for Incentive Mechanism of Distributed Nodes in Supply Chains

2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Jingjing Jiang ◽  
Aobo Lyu
Keyword(s):  
Supply Chain ◽  
Incentive Mechanism ◽  
Operation Mode ◽  
Game Model ◽  
The Public ◽  
Digital Currency ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
The Incentive Mechanism ◽  
Reward Mechanism

This study aims to solve the credit problems in the supply chain commodity and currency circulation links from the perspective of the ledger, while the game model method has been adopted. The research firstly reviews the relationship between distributed ledger technology and the essential functions of currency. Then, by constructing two-agent single-period and multi-period game models in the entire supply chain, the researchers analysed the incentive mechanism and equilibrium solution of distributed nodes of Central Bank Digital Currency (CBDC). The results of this study include the incentive mechanism and optimization of distributed nodes based on licensed distributed ledger technology, which is an important issue that CBDC faces when performing currency functions. The implications of this study mainly cover the limitations of the underlying technology of the public chain and its reward mechanism in the supply chain management and provide support for the rationality of the CBDC issuance mechanism based on state-owned commercial banks, which provides a reference for the CBDC practice. The main value of the research not only serves the decision-making department of the CBDC issuance but also provides ideas on the operation mode of digital currency for the field of digital currency research.

Use of blockchain in designing smart city

2020 ◽  
Vol 9 (4) ◽  
pp. 695-709 ◽  
Author(s):  
Surbhi Dewan ◽  
Latika Singh
Keyword(s):  
Smart Cities ◽  
Smart Contracts ◽  
Proof Of Concept ◽  
Revolutionary Change ◽  
Content Type ◽  
Decentralized System ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Wide Range

PurposeA blockchain is a shared distributed ledger technology that stores the information of every transaction in the network. The blockchain has emerged with a huge diversity of applications not only in the economic but in the non-economical domain as well. Blockchain technology promises to provide a wide range of solutions to the problems faced during implementation of smart cities. It has the potential to build smart contracts more secure, thus eliminating the need for centralized authority.Design/methodology/approachThis paper presents a proof-of-concept for a use case that uses an Ethereum platform to build a blockchain network to buy, sell or rent a property.FindingsThe findings of this study provide an opportunity to create novel decentralized scalable solutions to develop smart cities by enabling paperless transactions. There are enormous opportunities in this distributed ledger technology which will bring a revolutionary change in upcoming years.Originality/valueThe concept of blockchain along with smart contracts can be used as a promising technology for sharing services which is a common requirement in smart cities. All the blockchain transactions are stored in decentralized shared database. The transaction recorded in decentralized system is immutable, it cannot be altered and hence chance of forgery is negligible.

scholarly journals Sustainable Public Spending Through Blockchain

2020 ◽  
Vol 9 (4) ◽  
pp. 317
Author(s):  
Judit Glavanits
Keyword(s):  
Best Practices ◽  
Financial Markets ◽  
Public Spending ◽  
The State ◽  
The Public ◽  
Digital Currency ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Industrial Use

Blockchain technology and its industrial use cases can be detected worldwide. It is time for the state to think about the blockchain as an opportunity to reduce costs and build trust in the public spending. The paper and the presentation give an overview on how the state can apply the distributed ledger technology (DLT) and blockchain technology in the public administration: there are several countries with best practices already, and even more are in the introduction phase of opening to Industry 4.0 in the public services as well. On the field of FinTech area the state has great responsibility to regulate (or at least define) the phenomena of cryptocurrencies, that is already in use for more than 10 years now without any responsible governmental acts. Within this topic the Central Bank Digital Currency projects are also discussed in the paper, which are supported by IMF, and declared as the next natural step forward on financial markets. Keywords: blockchain, DLT, SDG, public spending

scholarly journals A reservoir computing approach for forecasting and regenerating both dynamical and time-delay controlled financial system behavior

PLoS ONE ◽  
2021 ◽  
Vol 16 (2) ◽  
pp. e0246737
Author(s):  
Rajat Budhiraja ◽  
Manish Kumar ◽  
Mrinal K. Das ◽  
Anil Singh Bafila ◽  
Sanjeev Singh
Keyword(s):  
High Speed ◽  
Low Cost ◽  
Financial System ◽  
Reservoir Computing ◽  
System Behavior ◽  
Significant Research ◽  
Future Data ◽  
High Degree ◽  
Computing Approach

Significant research in reservoir computing over the past two decades has revived interest in recurrent neural networks. Owing to its ingrained capability of performing high-speed and low-cost computations this has become a panacea for multi-variate complex systems having non-linearity within their relationships. Modelling economic and financial trends has always been a challenging task owing to their volatile nature and no linear dependence on associated influencers. Prior studies aimed at effectively forecasting such financial systems, but, always left a visible room for optimization in terms of cost, speed and modelling complexities. Our work employs a reservoir computing approach complying to echo-state network principles, along with varying strengths of time-delayed feedback to model a complex financial system. The derived model is demonstrated to act robustly towards influence of trends and other fluctuating parameters by effectively forecasting long-term system behavior. Moreover, it also re-generates the financial system unknowns with a high degree of accuracy when only limited future data is available, thereby, becoming a reliable feeder for any long-term decision making or policy formulations.

scholarly journals Prospects of Using Distributed Ledger Technology to Automatize State Financial Control

2018 ◽  
Vol 8 (3) ◽  
pp. 88-107 ◽  
Author(s):  
A. V. Varnavskiy ◽  
A. O. Buryakova
Keyword(s):  
Financial Stability ◽  
New Technologies ◽  
The State ◽  
Financial Control ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Expected Result ◽  
State Audit ◽  
Control Procedures ◽  
Modern Technologies

The concept of “digitalization” came into use relatively recently, but in many respects the further development of the Russian economy will depend on it. Design of conceptual approaches and practical algorithm for adaptation of new technologies to the functioning peculiarities of the financial system is of great importance for ensuring competitive advantages of Russia, including those at the international level. The article presents the prospects for applying modern technologies in the activities of state audit institutions, which are designed to ensure financial stability and contribute to the formation of a solid foundation for the economic growth of the country. The purpose of the research is to identify the prospects for automation of control procedures, taking into account the level of development of modern technologies to prevent violations in the financial sector. In the process of research, general scientific empirical methods were used: observation, comparison, collection and study of data; analysis and synthesis, a method of scientific abstraction. The chosen approach allowed to ensure the reliability and validity of the conclusions drawn. According to the results of the research the prospects for using the national accounting digital unit in the purpose of the control are outlined; the technological possibilities and legal restrictions of creation of the state distributed ledger technology are revealed; the system for assessing risky transactions that could lead to financial violations is proposed; key characteristics of the system of conducting decentralized accounting are formulated; the expected result of the implementation of the proposed models of automation of control procedures in the Russian practice is assessed. The authors have proved the expediency of creating a state distributed ledger technology for financial control purposes. The expected result of the implementation of these proposals is estimated as more than 50% of the annual violations identified by the state audit institutions.

scholarly journals Peculiarities of Application of Technologies of Distributed Registers and Blockchain (Blockchain) for the Popular Vote

2019 ◽  
pp. 41-52
Author(s):  
D. L. Kuteynikov
Keyword(s):  
Human Activity ◽  
Present Stage ◽  
Popular Vote ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
The World ◽  
Technical Solutions ◽  
High Degree ◽  
Intensive Development

The modernization of democratic institutions has been greatly influenced by the intensive development of technology. Various innovations in the field of digital communications have affected a rather traditional sphere of popular votings. The widespread introduction of the distributed ledger technology has enormously changed approaches to organizing them. Distributed registers gained the widest popularity after the technology of the chain of blocks (blockchain) was introduced. Despite the fact that initially this technology was considered exclusively as an element of the development of information, and later financial technologies, at the present stage it is gradually becoming increasingly common in other areas of human activity due to a high degree of security and confidentiality. The paper deals in detail with the world practice concerning using this technology in popular voting. Also, the author analizes the technical solutions applied in the most actively developing projects aimed at developing a software used to conduct electronic voting with the use of blockchain technology. The article investigates some problems of voting with the use of blockchain technology, such as identification and secrecy of the vote.

Impediments to Blockchain Adoption

2022 ◽  
Author(s):  
Deniz Appelbaum ◽  
Eric Cohen ◽  
Ethan Kinory ◽  
Sean Stein Smith
Keyword(s):  
Seminal Paper ◽  
Digital Currency ◽  
Business Operations ◽  
Business Applications ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Block Chain

Satoshi Nakamoto (2008) published a seminal paper on a promising digital currency application and proposed a distributed ledger technology (DLT) to support it. Shortly thereafter, in 2009, bitcoin and the customized DLT that supports it were established. Although the DLT described by Nakamoto (2008), which packages data into blocks that are then cryptographically chained together (i.e., "block chain", or "blockchain"), possesses features that are desirable for some business applications and/or their auditors, over a dozen years later there is not yet a widescale adoption of blockchain for business operations. This paper explores functionality, data and process integrity, and regulatory concerns as potential explanations for the lag in mainstream business and accounting adoption. We also contextualize some of the concerns that are likely to have delayed blockchain implementation by providing a framework of questions directed at both researchers and practitioners.

Development and production experience of the multilayer curtain-coated linerboard of Ji’an PM No. 3,

TAPPI Journal ◽  
2014 ◽  
Vol 13 (2) ◽  
pp. 17-25
Author(s):  
JUNMING SHU ◽  
ARTHAS YANG ◽  
PEKKA SALMINEN ◽  
HENRI VAITTINEN
Keyword(s):  
Titanium Dioxide ◽  
High Speed ◽  
Food Packaging ◽  
Production Efficiency ◽  
Positive Impact ◽  
Low Cost ◽  
Board Structure ◽  
Flexographic Printing ◽  
Curtain Coating ◽  
Coating Formulations

The Ji’an PM No. 3 is the first linerboard machine in China to use multilayer curtain coating technology. Since successful startup at the end of 2011, further development has been carried out to optimize running conditions, coating formulations, and the base paper to provide a product with satisfactory quality and lower cost to manufacture. The key challenges include designing the base board structure for the desired mechanical strength, designing the surface properties for subsequent coating operations, optimizing the high-speed running of the curtain coater to enhance production efficiency, minimizing the amount of titanium dioxide in the coating color, and balancing the coated board properties to make them suitable for both offset and flexographic printing. The pilot and mill scale results show that curtain coating has a major positive impact on brightness, while smoothness is improved mainly by the blade coating and calendering conditions. Optimization of base board properties and the blade + curtain + blade concept has resulted in the successful use of 100% recycled fiber to produce base board. The optical, mechanical, and printability properties of the final coated board meet market requirements for both offset and flexographic printing. Machine runnability is excellent at the current speed of 1000 m/min, and titanium dioxide has been eliminated in the coating formulations without affecting the coating coverage. A significant improvement in the total cost of coated white liner production has been achieved, compared to the conventional concept of using virgin fiber in the top ply. Future development will focus on combining low cost with further quality improvements to make linerboard suitable for a wider range of end-use applications, including frozen-food packaging and folding boxboard.

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