Fantastic Beasts: Blockchain Based Banking

Daluwathumullagamage, Dulani Jayasuriya; Sims, Alexandra

doi:10.3390/jrfm14040170

Cited by 14 publications

(3 citation statements)

References 253 publications

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“…A study [11] shown how machine learning techniques may be utilized to optimize resource distribution in edge computing environments, which will increase overall effectiveness and performance. An innovative approach was presented in [12], combining data mining and machine learning to identify a more precise resource distribution, to assess the reliability of edge nodes for fog computing. Research [13,14] looked at how different machine learning techniques could be used to assess the dependability of fog computing powered by block chains.…”

Section: Machine Learning-driven Resource Optimizationmentioning

confidence: 99%

Trust Management and Resource Optimization in Edge and Fog Computing Using the CyberGuard Framework

Alwakeel,

Alnaim

2024

Preprint

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The growing importance of edge and fog computing in the modern IT infrastructure is driven by the rise of decentralized applications. However, resource allocation within these frameworks is challenging due to varying device capabilities and dynamic network conditions. Conventional approaches often result in poor resource use and slowed advancements. This study presents a novel strategy for enhancing resource allocation in edge and fog computing by integrating machine learning with blockchain for reliable trust management. Our proposed framework, called CyberGuard, leverages blockchain’s inherent immutability and decentralization to establish a trustworthy and transparent network for monitoring and verifying edge and fog computing transactions. CyberGuard combines the Trust2Vec model with conventional machine learning models like SVM, KNN, and Random Forests, creating a robust mechanism for assessing trust and security risks. Through detailed optimization and case studies, CyberGuard demonstrates significant improvements in resource allocation efficiency and overall system performance in real-world scenarios. Our results highlight CyberGuard’s effectiveness, evidenced by a remarkable accuracy, precision, recall, and F1-Score of 98.18%, showcasing the transformative potential of our comprehensive approach in edge and fog computing environments.

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Section: Machine Learning-driven Resource Optimizationmentioning

confidence: 99%

Trust Management and Resource Optimization in Edge and Fog Computing Using the CyberGuard Framework

Alwakeel,

Alnaim

2024

Preprint

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“…The amount of transition data on blockchain-oriented remittance platforms create AML analysts is to have a comprehensive overview and ensure fraud predictions. To overcome the obstacles, enhancements in KYC transaction speed, security, transparency, scalability, legislation, regulations (Battistini, 2017;Jayasuriya et al, 2021), and cost reduction are required. Filtering the big data on block-chained remittance creates opportunities to have easy remittance management.…”

Section: Related Workmentioning

confidence: 99%

Towards roadmap to implement blockchain-oriented solution artifact for secured transactions: a remittance management perspective

Weerawarna

Miah

2022

Preprint

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Block chain has become a popular distributed ledger technology, which assists to store data in a secured, tamper proofed and immutable manner. In recent years, banks and remittance institutes have shown their interests increasingly to investigate the application design issues related to this disruptive technology, for instance, by evaluating the competitive advantage of using the applications over the tradition banking and remittance industry. Gaining opportunities of the block chain, however, is a challenge for international remittance due to the lack of relevant knowledge of business integration, security, regulatory requirements, technological improvements in mining hardware requirements and social trust.It is imperative to develop application design understanding that may be assistive to gain the actual benefit of the block chain in remittance management. Aiming to offer new knowledge for academics, researchers, business owners, government, FinTech companies and general public users elaborating interplaying business, technical and social requirements, this paper presents a design research approach that guides the development of a novel block chain-oriented remittance model for Australian remittance companies. This paper reports on a preliminary design which can be considered as a first proof-of-concept prototype. We identify key requirements of designing a secured, faster, user-friendly and responsive options for delivering secured transparency of financial transactions for stakeholders, which are to be complying with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

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“…Carbó-Valverde et al (2020) are among the few researchers who have studied technology adoption in areas such as cryptocurrencies, payment gateways, smart contracts, digital accounting, and regulatory networking. However, much of the current attention on technology adoption has focused on its ability to fundamentally change the financial services industry (Daluwathumullagamage & Sims, 2021), rather than on the digital dexterity of the industry's workforce.…”

Section: Introductionmentioning

confidence: 99%

Accelerating digital talent readiness in Malaysian banking sector: A study on technology adoption through the intention to use customer-focused digital solutions

Abdul Halim,

Azlan,

Nor Adzhar

et al. 2023

IMBR

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The COVID-19 pandemic has accelerated the digital transformation of the banking sector, both globally and locally. As the adoption of new technology relies on the perception and behavior of users towards the system, bank employees need to have the intention to use digital solutions implemented by the organization. The purpose of this research is to examine the influence of job relevance, perceived usefulness, perceived ease of use and perceived self-efficacy on the intention to use digital solutions. A quantitative approach using a purposive sampling technique was carried out, where a survey was conducted involving 313 employees at a local retail bank’s headquarters in Kuala Lumpur. The results showed that job relevance and perceived usefulness had a significant positive influence on the intention to use digital solutions, with job relevance being a unique and important predictor. However, perceived ease of use and perceived self-efficacy did not have a significant impact on the intention to use digital solutions among the retail bank’s employees. These findings suggest that the employees are already adept and comfortable in using digital solutions as they have developed the necessary skills and aptitude. This research contributes to the understanding of factors that can influence the intention of banking employees to use digital solutions, based on an extended Technology Acceptance Model developed for this study. This research further recommends the implementation of change management strategies, focus on acquiring on-premise database management and developing a digital talent readiness roadmap for talent acquisition & retention.

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Fantastic Beasts: Blockchain Based Banking

Cited by 14 publications

References 253 publications

Trust Management and Resource Optimization in Edge and Fog Computing Using the CyberGuard Framework

Trust Management and Resource Optimization in Edge and Fog Computing Using the CyberGuard Framework

Towards roadmap to implement blockchain-oriented solution artifact for secured transactions: a remittance management perspective

Accelerating digital talent readiness in Malaysian banking sector: A study on technology adoption through the intention to use customer-focused digital solutions

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