Financial Technologies

2020 ◽  
pp. 1-33
Author(s):  
Debra Hooi Chern Lee ◽  
Mobashar Rehman ◽  
Hui Nee Au Yong ◽  
Manzoor Ahmed Hashmani
Keyword(s):  
Blockchain Technology ◽  
The World ◽  
Financial Technology

This chapter explores the concept of Financial Technology (FinTech) and how it has progressed to where it is today. This understanding is further supplemented with the applications of FinTech and the challenges it has to tackle in order to continue to evolve in a favourable manner. Being a key player in the FinTech sector, this chapter also delves into the concept of blockchain technology (BCT) to comprehend how it holds the power to impact society through revolutionary applications. As the world heralds an era of FinTech, this chapter aims to give insights on the potential of FinTech and how it cross borders to change the lives of many.

Financial Technologies

2021 ◽  
pp. 1-23
Author(s):  
Debra Hooi Chern Lee ◽  
Mobashar Rehman ◽  
Hui Nee Au Yong ◽  
Manzoor Ahmed Hashmani
Keyword(s):  
Blockchain Technology ◽  
The World ◽  
Financial Technology

This chapter explores the concept of Financial Technology (FinTech) and how it has progressed to where it is today. This understanding is further supplemented with the applications of FinTech and the challenges it has to tackle in order to continue to evolve in a favourable manner. Being a key player in the FinTech sector, this chapter also delves into the concept of blockchain technology (BCT) to comprehend how it holds the power to impact society through revolutionary applications. As the world heralds an era of FinTech, this chapter aims to give insights on the potential of FinTech and how it cross borders to change the lives of many.

scholarly journals Using Blockchain-Enabled Solutions as SDG Accelerators in the International Development Space

2021 ◽  
Vol 13 (7) ◽  
pp. 4025
Author(s):  
Ahmet Faruk Aysan ◽  
Fouad Bergigui ◽  
Mustafa Disli
Keyword(s):  
International Development ◽  
Integrated Approach ◽  
Use Case ◽  
Good Practices ◽  
Blockchain Technology ◽  
Hype Cycle ◽  
The World ◽  
Fit For Purpose ◽  
Development Approach ◽  
Case Development

As the world is striving to recover from the shockwaves triggered by the COVID-19 crisis, all hands are needed on deck to transition towards green recovery and make peace with nature as prerequisites of a global sustainable development pathway. In this paper, we examine the blockchain hype, the gaps in the knowledge, and the tools needed to build promising use cases for blockchain technology to accelerate global efforts in this decade of action towards achieving the SDGs. We attempt to break the “hype cycle” portraying blockchain’s superiority by navigating a rational blockchain use case development approach. By prototyping an SDG Acceleration Scorecard to use blockchain-enabled solutions as SDG accelerators, we aim to provide useful insights towards developing an integrated approach that is fit-for-purpose to guide organizations and practitioners in their quest to make informed decisions to design and implement blockchain-backed solutions as SDG accelerators. Acknowledging the limitations in prototyping such tools, we believe these are minimally viable products and should be considered as living tools that can further evolve as the blockchain technology matures, its pace of adoption increases, lessons are learned, and good practices and standards are widely shared and internalized by teams and organizations working on innovation for development.

Blockchain Encryption on Student Academic Transcripts using a Smart Contract

2021 ◽  
Author(s):  
Primasatria Edastama ◽  
Ninda Lutfiani ◽  
Qurotul Aini ◽  
Suryari Purnama ◽  
Isabella Yaumil Annisa
Keyword(s):  
Data Storage ◽  
Storage System ◽  
Digital Data ◽  
Decentralized System ◽  
Blockchain Technology ◽  
Educational Environments ◽  
The World ◽  
Technology Applications ◽  
E Learning ◽  
Data Storage System

As an innovation in the world of computers, blockchain has many benefits and is also widely applied in the world of education. Blockchain itself has many advantages, especially in the world of education. Blockchain is a digital data storage system that consists of many servers (multiserver). In this Blockchain technology, data created by one server can be replicated and verified by another server. By using this technology with a decentralized system and strong cryptography and can help colleges or universities to build infrastructure in the archive storage of transcripts, diplomas, and diplomas. Usage One of the blockchain technology applications in education is iBC, namely the e-learning Blockchain Certificate, book copyright, and also e-Portfolios. iBC or e-learning Blockchain Certificate is a tool designed to create, verify and also issue blockchain certificates. As has been supported by the IBC to create certificates that are globally verified and stored in a decentralized manner. Here will be presented use cases that are relevant in the use of Blockchain technology in educational environments, especially data processing in universities and we also try to design an IBC based on blockchain technology that can be used to support transparency and accountability of colleges or universities in issuing diplomas and grades. 

أثر التكنولوجيا المالية على القطاع المصرفي في العراق (فرصة ام تهديد؟)

2021 ◽  
Vol 2021 (71) ◽  
pp. 183-199
Author(s):  
شهد ماجد عبد ◽  
أ.م.د عبدالرسول علي حسين
Keyword(s):  
Banking Sector ◽  
Financial Sector ◽  
The World ◽  
The Impact ◽  
Financial Technology

This research talks about the financial technology that has recently begun to appear in the financial sector around the world, and which promises that it will either be the most important competitor to this sector, or the best available way for it to develop. This research talks about the impact of that technology on the Iraqi banking sector in terms of being an opportunity or a threat to it. The problem that this research addresses is: Is the adoption of financial technology, despite its risks, by the Iraqi banking sector will benefit it? Or will those risks be predominant in the end? It stems from the premise that financial technology is one of the most important opportunities available to the Iraqi banking sector. The research reached several conclusions, the most important of which is that financial technology is indeed an opportunity that is not a threat to the Iraqi banking sector (at least for now), but rather it is one of the most important opportunities available to it, so it must follow an offensive remedial strategy by the banking sector using its strengths that Including high levels of security and confidence, which creates the appropriate environment to exploit its opportunities.

scholarly journals Blockchain technology in maritime industry

Pomorstvo ◽  
2020 ◽  
Vol 34 (1) ◽  
pp. 178-184
Author(s):  
Ivan Peronja ◽  
Kristijan Lenac ◽  
Roko Glavinović
Keyword(s):  
Comparative Method ◽  
Maritime Industry ◽  
Comprehensive Overview ◽  
Time Value ◽  
Bill Of Lading ◽  
Blockchain Technology ◽  
The World ◽  
Transportation Process ◽  
Potential Impact ◽  
World Environment

Maritime industry is one of the most globally connected industries that include transportation of numerous types of goods and documents across the world. With that said, it is safe to say that abundance of financial and paper-trail transactions are made every day in order for goods to be transported from one place to another. The scope of this paper is to show that by implementing blockchain technology savings in time and money could be generated. This paper presents costs of container freights and rates in the last few years and assumes possible future costs of container freights and rates if blockchain based technology is implemented. Additionally, by using comparative method economical and time value of “traditional” bill of lading is compared with a blockchain bill of lading solution. It is also important to mention the potential impact of the blockchain technology on the world environment and ecology by reducing global paper consumption and emissions from vehicles that are used in the transportation process. This paper also gives a descriptive and comprehensive overview of current and future applications of blockchain technology in maritime industry.

scholarly journals BLOCKCHAIN TECHNOLOGY AS AN ANTI-CORRUPTION MANAGEMENT TOOL

2021 ◽  
Vol 7 (167) ◽  
pp. 46-50
Author(s):  
S. Burlutska ◽  
O. Chabanenko
Keyword(s):  
Real Time ◽  
Effective Means ◽  
Management Tool ◽  
Human Society ◽  
Private Institutions ◽  
Identity Verification ◽  
Transaction Data ◽  
Blockchain Technology ◽  
The World ◽  
Money Transfers

The world has not yet come up with a single recipe for fighting corruption. But thanks to constant progress, anti-corruption strategies are replenished with effective innovation mechanisms. The global experience of using blockchain opens up new prospects for eliminating corruption in the world. Blockchain is an opportunity not only to modernize outdated functional systems, but also to apply new, more effective means of combating corruption and cybercrime. One of the main advantages of the blockchain is that all network participants have a register of transaction data. Therefore, if someone decides to hide, delete or change their recalculations in the accounting book, then copies of these transactions still remain in tens of thousands of other users and the system immediately accesses them. Therefore, a few minutes will be enough to solve the issues of detecting a crime. Today, it is worth highlighting 3 types of widespread use of blockchain technology in the fight against corruption: identity verification, asset registration and tracking of monetary transactions. For example, you can check the purpose of money transfers in real time, see salary payments, and compare prices among suppliers. Like any type of crime, corruption in human society cannot be completely excluded. However, decentralized platforms functioning on blockchain technology, already today, firstly, can directly bring together the customer and the executor, and secondly, all the conditions agreed upon by the participants can then be easily verified (thus, it will be impossible to imperceptibly inflate the price when using blockchain). Blockchain technology is in demand because it creates an unprecedented degree of trust in information in relationships between individuals and public organizations, or between the state, people and private institutions.

THE USE OF CRYPTOCURRENCY FOR CRIMINAL PURPOSES: ISSUES OF COUNTERACTION

2020 ◽  
pp. 5-6
Author(s):  
В.И. Ерохов ◽  
В.Ф. Васюков
Keyword(s):  
Rapid Development ◽  
Criminal Activity ◽  
High Tech ◽  
Complex Nature ◽  
Blockchain Technology ◽  
The World ◽  
Basic Understanding ◽  
State Of Affairs ◽  
Methods Of Operation ◽  
The Ideal

Стремительное развитие технологии блокчейн сделало криптовалюты широко распространенными по всему миру платежными средствами, используемыми в качестве альтернативной онлайн-валюты. Одновременно с этим криптовалюты также зарекомендовали себя как идеальная валюта для киберпреступников из-за их нерегулируемого и псевдоанонимного характера. Такое положение дел привело к возникновению возможности использования криптовалют в качестве инструмента содействия преступлениям, совершаемым как в киберпространстве, так и в реальном мире, включая легализацию (отмывание) денежных средств, кибер-вымогательство, фишинг, взлом, кибермошенничество и иные преступления в финансовой сфере. Учитывая высокотехнологичный, децентрализованный и, следовательно, сложный характер криптовалют, криминологам важно иметь базовое представление о методах работы, используемых в криптовалютных преступлениях. Таким образом, в представленных тезисах проанализированы проблемы, связанные с использованием криптовалюты для содействия преступной деятельности, и рассмотрены методы противодействия им. The rapid development of blockchain technology has made cryptocurrencies widespread around the world, used as an alternative online currency. At the same time, cryptocurrencies have also established themselves as the ideal currency for cybercriminals due to their unregulated and pseudo-anonymous nature. This state of affairs has led to the emergence of the possibility of using cryptocurrencies as a tool to facilitate crimes committed both in cyberspace and in the real world, including money laundering, cyber extortion, phishing, hacking, cyber fraud and other crimes in the financial sector. Given the high-tech, decentralized and therefore complex nature of cryptocurrencies, it is important for criminologists to have a basic understanding of the methods of operation used in "cryptocurrency crimes." Thus, this article analyzes the issues of using cryptocurrency to promote criminal activity, as well as countering issues.

Crypto-Currency

2019 ◽  
pp. 1-13 ◽  
Author(s):  
S. Iqbal ◽  
Muzammil Hussain ◽  
Muhammad Umar Munir ◽  
Zunair Hussain ◽  
Sobia Mehrban ◽  
...  
Keyword(s):  
Major Part ◽  
Security Risk ◽  
Crypto Currency ◽  
The World ◽  
The Future ◽  
Banking Institutions ◽  
Financial Technology ◽  
Currency Trading

This chapter sheds light on the future of crypto-currencies in the world as they have become a major part of trading and are now being adopted by leading investment firms as a new way of buying and selling. Despite the substantial security risk in crypto-currency trading, it has become the most traded commodity. Many new crypto-currencies are being introduced that attract investors. Banking institutions in USA and other leading countries have started to take part in investments in crypto-currency as it has revolutionized financial technology.

Blockchain Technology Is a Boost to Cyber Security

2019 ◽  
pp. 254-266 ◽  
Author(s):  
Sowmiya B. ◽  
Poovammal E.
Keyword(s):  
Real Time ◽  
Cyber Security ◽  
Real Sector ◽  
Blockchain Technology ◽  
The World ◽  
Security Challenge ◽  
Real Time Application ◽  
Share Information

The information in any real-time application is needed to be digitalized across the world. Since digitalization of data happens, there comes the role of privacy. Blockchain could address the security challenge that happens in the any real sector. There are a few more challenges that prevail in the industry such as integrity in data, traceability of stored records, and interoperability among organizations that share information. This chapter says what blockchain is and applications in which blockchain technology could solve the existing challenges where they lack security, privacy, integrity, and interoperability.

New Financial Technologies, Cryptocurrencies, Blockchain, and Challenges

2020 ◽  
pp. 85-102
Author(s):  
Burcu Sakiz
Keyword(s):  
Information Systems ◽  
Technological Innovation ◽  
Research Agenda ◽  
The Internet ◽  
Blockchain Technology ◽  
Systems Research ◽  
Information Systems Research ◽  
The World ◽  
Start Ups

As technological innovation transforms our economies, companies and start-ups all over the world are performing developments on financial technologies called “FinTech/fintech” for a chance to thrive. It even sparked the invention of blockchain and the inception of cryptocurrencies (digital/virtual money) such as Bitcoin. The blockchain technology provides Bitcoin's public ledger, an ordered and timestamped record of transactions. Blockchain is one of a kind decentralized technology mainly used by fintechs and it is a distributed as well as decentralized ledger that presents a radical, new, modern, and disruptive way of conducting all manner of transactions over the internet. Blockchain-based applications provide many opportunities to create a more sustainable world. With this research agenda, this chapter contributes to the discussion on future avenues for sustainability and information systems research on fintechs, especially cryptocurrencies and blockchain-based platforms and services.

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