The Global Financial Services Industry and the Blockchain

Hughes, Thomas M.

doi:10.3905/jsf.2018.23.4.036

Cited by 14 publications

(4 citation statements)

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“…A comprehensive study of the previous research work regarding this issue is presented in [28]. Several works detailed the financial services related with blockchain in [29][30][31][32]. The supply chain with the utilization of the blockchain is also studied in the literature.…”

Section: State Of the Artmentioning

confidence: 99%

Novel randomization and iterative based algorithms for the transactions assignment in blockchain problem

Bajahzar

2023

PLoS ONE

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This study focuses on the load balancing of the transactions in the blockchain. The problem is how to assign these transactions to the blocks. The objective is to guarantee a load balancing of the workload in the time of blocks. The proposed problem is an NP-hard one. To face the hardness of the studied problem, the challenge is to develop algorithms that solve the problem approximately. Finding an approximate solution is a real challenge. In this paper, nine algorithms are proposed. These algorithms are based on the dispatching-rules method, randomization approach, clustering algorithms, and iterative method. The proposed algorithms return approximate solutions in a remarkable time. In addition, in this paper, a novel architecture composed of blocks is proposed. This architecture adds the component “Balancer”. This component is responsible to call the best-proposed algorithm and solve the scheduling problem in a polynomial time. In addition, the proposed work helps users to solve the problem of big data concurrency. These algorithms are coded and compared. The performance of these algorithms is tested over three classes of instances. These classes are generated based on uniform distribution. The total number of instances tested is 1350. The average gap, execution time, and the percentage of the best-reached value are used as metrics to measure the performance of the proposed algorithms. Experimental results show the performance of these algorithms and a comparison between them is discussed. The experimental results show that the best algorithm is best-mi-transactions iterative multi-choice with 93.9% in an average running time of 0.003 s.

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Section: State Of the Artmentioning

confidence: 99%

Novel randomization and iterative based algorithms for the transactions assignment in blockchain problem

Bajahzar

2023

PLoS ONE

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“…Smart contracts are often used by blockchain firms to automatically execute any contracts (Daj 2018;Fandl 2020;Van der Elst and Lafarre 2019). Blockchain is adopted worldwide to provide various applications to solve problems, thus updating market infrastructure (Hughes 2018;Surujnath 2017).…”

Section: B Alternate Payments-blockchainmentioning

confidence: 99%

Fintech Innovations in the Financial Service Industry

Mansurali

Ramakrishnan

Joghee

et al. 2022

JRFM

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Digital transformation underscored by the fourth industrial revolution has led to the emergence of sophisticated technology-enabled financial services known as fintech, that has swiftly altered traditional financial services space. Global adoption of fintech is rapidly increasing due to its disruptive nature and is largely embraced by participants who are underserved by traditional financial service providers. Global investments in fintech are growing rapidly year by year owing to increased interconnectivity with the digital revolution. Fintech is expansive, engulfing a plethora of innovative applications in various services including payments, financing, asset management, insurance, etc. There exists a gap in the literature and visualization research on impact and future pathway of fintech innovations in payments and financial services and role of financial regulations. This study aims to enrich the understanding of fintech innovations in payments and financing and investigate the correlation and significance of regulatory framework in maintaining a fair ecosystem. With this objective, an extant systematic review was performed using research articles published in peer-reviewed journals for the period 2014–2022 when there has been a burgeoning of interest in ‘fintech’ globally. The findings of this study contribute to the theoretical constructs of fintech innovations in the financial services industry and show that such innovations play a crucial role in shaping the nature of future of business. The results of this study have implications for researchers who could deploy this research as a reference point to get a holistic insight and a detailed mapping of innovations in fintech.

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“…In addition, the major reason behind the popularity of cryptocurrencies is the enabling technology known as blockchain, which has been researched and documented on academic journals that target various industries such as supply chain management [4], [5], logistics [6], [7], finance [8], [9], energy [10], [11], entertainment [12], and medicine [13]. But due to the limitations of the early generation of blockchain and the lack of powerful development tools, its adoption is difficult and complex, leading to the invention of the next generation of blockchain, such as Ethereum [14], which, in addition to being able to operate as a cryptocurrency, also supported the execution of arbitrary code embedded on the blockchain called "smart contract".…”

Section: Introductionmentioning

confidence: 99%

NAGA: multi-blockchain based decentralized platform architecture for cryptocurrency payment

Sawarnkatat

Smanchat

2022

IJECE

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Paying for electronic commerce products with cryptocurrencies is an increasingly popular method. However, the situations where a seller expects one specific cryptocurrency as a payment while a buyer only possesses another, inevitably create inconvenience to the buyer, which may lead to cancellation of purchase. In this paper, we propose a light-weighted software architecture of a payment system called NAGA platform that works with a number of crypto blockchain networks to support cross-cryptocurrency payments where buyers can pay in one currency, and the seller automatically receives another of his/her choice. This minimizes the complexity and inconvenience of the buyer, leading to an increase in sales and revenues of the electronic commerce system. With the built-in crypto exchange, crosscryptocurrency payment can be processed with real-time exchange rates that enables both buyers and sellers to receive cryptocurrency of their preferred choices.

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The Global Financial Services Industry and the Blockchain

Cited by 14 publications

References 0 publications

Novel randomization and iterative based algorithms for the transactions assignment in blockchain problem

Novel randomization and iterative based algorithms for the transactions assignment in blockchain problem

Fintech Innovations in the Financial Service Industry

NAGA: multi-blockchain based decentralized platform architecture for cryptocurrency payment

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