Waves of Civilization Development and the Digital Revolution

This chapter analyzes the evolution of civilization via the concept of civilizational waves. Seven waves are identified: (1) the agricultural wave, (2) the industrialization wave, (3) the information wave, (4) the globalization wave, (5) the virtualization wave, (6) the bio-material wave, and (7) the artificial intelligence wave. After discussing the key characteristics of each wave as well as their impacts upon civilization, the chapter then analyzes and discusses the two most important revolutions in the last 220 years: the Industrial Revolution and the IT Revolution. The chapter also develops a model showing the relationship between the civilizational waves and revolutions.

Synergy of Blockchain Technology and Data Mining Techniques for Anomaly Detection

Blockchain and Data Mining are not simply buzzwords, but rather concepts that are playing an important role in the modern Information Technology (IT) revolution. Blockchain has recently been popularized by the rise of cryptocurrencies, while data mining has already been present in IT for many decades. Data stored in a blockchain can also be considered to be big data, whereas data mining methods can be applied to extract knowledge hidden in the blockchain. In a nutshell, this paper presents the interplay of these two research areas. In this paper, we surveyed approaches for the data mining of blockchain data, yet show several real-world applications. Special attention was paid to anomaly detection and fraud detection, which were identified as the most prolific applications of applying data mining methods on blockchain data. The paper concludes with challenges for future investigations of this research area.

Simplified the Product Purchasing Ecommerce - Steelkart

Since 1992, economic improvements took place drastically to integrate with the global economy of the world. It made easier, the foreign trade easier. E-commerce is the chunk of IT revolution and has become popular in trading specially in India. With the advancement of time various changes in the business and their transactions. India being an adapter of fast changing technology gives rise to the enhancement of e-commerce. In the view of this paper tries to present a view of evolution of ecommerce and especially in India. This paper shows the order, categories and organization evolved through e-commerce in both finance and physical expression. To extract the benefits obtained from e-commerce and to develop a platform for e-commerce in India. The government should also provide a legal platform for international trade and e-commerce and allow companies to expand globally with the taken care of basic rights like privacy, intellectual property rights, fraud prevention etc. This paper deals with the problem which is in the front of common manufacturers of transformers. Aim of this paper is the ways through which we can provide raw material to develop the transformer. So that these transformer producers get an ample amount of foreign raw products which help in improving the quality of product as well as reducing the cost. The Indian components of transformers do not perform so well in the terms of quality so Indian transformers lack in quality by using these foreign raw products transformer producer may produce the quality products and can also export to other countries

The Transition of Economy from Analogue to Digital in the XXI Century by the case of the Republic of Korea

The article demonstrates the impact of digitalization on the political system and economy of the Republic of Korea based on the IT-revolution of the XXI century. Research methods used include comparative, system and logical data analysis, and the investigation of the digitalization trends. Data from Korean National Statistical Office and other official open sources are used for the determination of the main digitalization trends in the Korean economy. An analysis of specific phenomena arising in the economy and society as a whole is carried out under conditions of the digital economy. The evolution of the digitalization of hardware and software in the Republic of Korea is presented. The consequences of the transition of the economy from analogue to digital are revealed in such areas as the structure of the economy and business model, economic integration and liberalization, resource allocation and balanced development of regions, the role of government, and the intellectual property system.

Regime Switching in High-Tech ETFs: Idiosyncratic Volatility and Return

The volatility of asset returns can be classified into market and firm-specific volatility, otherwise known as idiosyncratic volatility. Idiosyncratic volatility is increasing over time with some literature attributing this to the IT revolution. An understanding of the relationship between idiosyncratic risk and return is indeed relevant for idiosyncratic risk pricing and asset allocation, in a context of emerging technologies. The case of high-tech exchange traded funds (ETFs) is especially interesting, since ETFs introduce new noise to the market due to arbitrage activities and high frequency trading. This article examines the relevance of idiosyncratic risk in explaining the return of nine high-tech ETFs. The Markov regime-switching (MRS) methodology for heteroscedastic regimes has been applied. We found that high-tech ETF returns are negatively related to idiosyncratic risk during the high volatility regime and positively related to idiosyncratic risk during the low volatility regime. These results suggest that idiosyncratic volatility matters in high-tech ETF pricing, and that the effects are driven by volatility regimes, leading to changes across them.

The Implications of Social Networks on the Quality of Accounting Information

The information technology (IT) revolution has shown widespread and massive development in communications and social networks, leading to the use of this technology daily. As a result, a number of Accounting features were added and turned into an E-version from a traditional version.This paper submits a study of the social network's role in growing the quality of accounting information by evaluating it according to distributed questionnaires.The researchers distributed 20 questionnaires on 20 academic persons and analyzed the results via excel tools, and the main result of this paper is that the Social networks have a big effect on the accounting information because they will build a good background for the accountants.

Systems, Instruments and Regulatory Policies of American and European Capitalism

The beginning of the 21st century, the phenomenon of globalization, the IT revolution and the financialization of the economy have also changed the terms of the comparison among capitalist countries. At global level, the rapid expansion of the financial sector was also encouraged by an increase in innovative financial products. Regulators and supervisors have not been able to adequately identify and address the growing risks in the financial system. The beginning of the financial crisis has brought to light such weaknesses. And it is from this negative experience that the major world authorities have intervened, trying to set up plans and regulations to protect the financial system and consumers. The analysis of the framework that comes with the financial crisis of 2007-2013 is thus a starting point for this work to understand the new features of world capitalism. American and European capitalist systems seem to diverge above all on the policies and instruments for regulating the financial system. The aim of the work is to show the differences between the US and European financial and banking regulation. The former is geared towards reviving deregulation and financial innovation while the latter is more geared towards redesigning a more accentuated regulatory model with a governance of the economy that always sees the presence of a mixed welfare and market system.

Systems, Instruments and Regulatory Policies of American and European Capitalism

The beginning of the 21st century, the phenomenon of globalization, the IT revolution and the financialization of the economy have also changed the terms of the comparison among capitalist countries. At global level, the rapid expansion of the financial sector was also encouraged by an increase in innovative financial products. Regulators and supervisors have not been able to adequately identify and address the growing risks in the financial system. The beginning of the financial crisis has brought to light such weaknesses. And it is from this negative experience that the major world authorities have intervened, trying to set up plans and regulations to protect the financial system and consumers. The analysis of the framework that comes with the financial crisis of 2007-2013 is thus a starting point for this work to understand the new features of world capitalism. American and European capitalist systems seem to diverge above all on the policies and instruments for regulating the financial system. The aim of the work is to show the differences between the US and European financial and banking regulation. The former is geared towards reviving deregulation and financial innovation while the latter is more geared towards redesigning a more accentuated regulatory model with a governance of the economy that always sees the presence of a mixed welfare and market system.