Chain Of Transactions Research Articles

К вопросу об оспаривании цепочки сделок в делах о банкротстве по мотиву притворности

The authors of the article refer to the concept and signs of a sham deal, paying special attention to the sign of the coincidence of the parties in the covering and disguised deals. Based on the analysis of judicial practice in bankruptcy cases, the conditions for qualifying as sham several consecutive transactions covering a single transaction for the withdrawal of the debtor’s assets are identified. The problem of the presence of a sign of coincidence of the initial and final parties of transactions in a chain of sham transactions is considered separately. A conclusion is formulated about the coincidence of the initial and final parties of transactions and in the case of a sequence of interrelated transactions.

Foreign experience of providing public services by notaries in the field of state registration of property rights to immovable property

The scientific article is dedicated to highlighting the foreign experience of providing public services by notaries in the field of state registration of real property rights in the following countries: Bulgaria, Belarus, Russia, Poland, Czech Republic, Switzerland, Italy, Spain, Germany, France, USA, Australia, etc. As a result of the study of world experience, it was concluded that in order to effectively protect the rights to real estate of both private owners and the state, it is necessary to create a single registration system that will guarantee the reliability and transparency of the civil turnover of real estate. Ways of implementing foreign experience have been determined in order to improve the activities of the subjects of the public administration of Ukraine regarding the provision of public services by notaries in the field of state registration of property rights to immovable property. Attention is drawn to the fact that the Anglo-American system of registration of deeds regarding real estate objects consists in making an entry in the register at the free choice of the participants of the deed. It would be more appropriate to call this system a document accounting system, since registration is a technical operation. According to Anglo-American rules, the owner is the last bona fide purchaser of real estate. The transfer of ownership occurs as a result of the conclusion of the deed and possession of the object by the transferee. In the USA, the buyer must restore the entire chain of previous documents for the purchase of real estate. The deed can be declared invalid if the persons included or not included in the chain of transactions can assert rights to the real estate object. The lack of legal means is compensated by lawyers and insurance companies that specialize in checking the seller’s rights. Currently, the property loss insurance system is actively developing in the United States of America.

The contingent animal: does artificial innateness misrepresent behavioral development?

While organisms are continually experiencing and interacting with their environments, the role and extent of experiences in behavioral development has been controversial. Some argue that adaptive behaviors are acquired through experiences, while others claim they are the result of innate programs that don’t require environmental input. Such controversies have historically occurred within animal behavior and psychology, but similar debates are emerging in the field of artificial intelligence. Here, the debate is centered on those who design experience-dependent systems that are trained to learn the statistical properties of “environmental” inputs, and those advocating the use of pre-packaged artificially “innate” responses tailored to prespecified inputs. Those favoring artificial innateness draw analogies with animal behavior to argue that innateness is necessary for the emergence of complex adaptive behavior. But does behavioral development in animals reflect the unfolding of innate programs? Here we highlight the widespread role of specifically causal experiences in the ontogeny of species-typical behaviors. All behaviors are an outcome of a chain of organism-environment transactions—called ontogenetic niches—that begin in the earliest periods of life. This challenges the notion that organisms come prepared with innate programs for behavior. We suggest that an artificial intelligence that matches the complexity of animal behavior should be based on principles of behavioral development, where experiences are necessary and specifically causal factors in the emergence of behavioral abilities.

Permissionless and asynchronous asset transfer

Most modern asset transfer systems use consensus to maintain a totally ordered chain of transactions. It was recently shown that consensus is not always necessary for implementing asset transfer. More efficient, asynchronous solutions can be built using reliable broadcast instead of consensus. This approach has been originally used in the closed (permissioned) setting. In this paper, we extend it to the open (permissionless) environment. We present Pastro, a permissionless and asynchronous asset-transfer implementation, in which quorum systems, traditionally used in reliable broadcast, are replaced with a weighted Proof-of-Stake mechanism. Pastro tolerates a dynamic adversary that is able to adaptively corrupt participants.

The Importance of Digital Signature in Sustainable Businesses: A Scale Development Study

Today, the interest and the needs of all sectors for digital signatures are increasing day by day. The next approvals in businesses cannot take place without the previous approvals, which follow one after the other, such as a chain of transactions. For this reason, the approval (that is, the signature of a relevant unit) should be carried out as soon as a document is received and immediately forwarded to the next unit. Digital signatures are needed to carry out business transactions quickly and reliably. The use of digital platforms and systems, which are indispensable parts of digital transformation, can be achieved primarily with awareness and understanding of their importance. However, a digital signature awareness scale was not found in the literature. Therefore, in this study, a new scale was developed which can be used to determine the digital signature awareness of people and it is hoped to eliminate this deficiency in the current literature. The developed scale consists of two dimensions: awareness and benefits. The study was designed as descriptive research and 567 participants voluntarily participated in the study. Factor analysis and descriptive analysis methods were used to analyze the collected data. In line with the statistical analysis results, it has been observed that the developed scale provides validity and reliability features and is qualified to be used in scientific research to determine the awareness of people about digital signatures. With the digital signature scale, which is thought to fill the gap in the literature, it is hoped that the digital signatures awareness of people in developing countries, and in particular in Cyprus will be determined, and it is also hoped that people will be encouraged to use digital signatures after necessary training.

Using the Results of Rosfinmonitorings Work in Criminal Proceedings

The Federal Financial Monitoring Service (Rosfinmonitoring) currently possesses complete and comprehensive information whose analysis makes it possible to monitor the whole chain of financial transactions, links, agreements through which criminal gains are legalized, transformed into other assets and the capital is then transferred abroad. However, to date the procedure for giving the results of Rosfinmonitorings financial investigations the status of evidence in the criminal process has not been legally regulated. Since Rosfinmonitoring is not a law enforcement body, or a subject of operative search and evidence-collection work, the materials of its financial investigations cannot be directly used as evidence in a criminal case and need legalization. As the information in the materials of a financial investigation constitutes bank secrecy, a direct attempt to use it as proof could be dismissed by the court as inadmissible evidence because it was obtained by law enforcement bodies without a court sanction. In order to give the status of admissible evidence to the information obtained during a financial investigation of the deposits and accounts of the persons involved, the investigator, with the agreement of the head of the investigation agency, or an inquiry officer, with the agreement of the prosecutor, should petition the court about the initiation of investigatory actions according to the procedure stated in Art. 165 of the Criminal Procedure Code of the Russian Federation, and attach all the documents obtained from credit organizations as a result of the courts ruling to the materials of the criminal case. The authors present a comparative analysis of financial and preliminary investigations, describe the specifics of using the materials of financial investigations in criminal proceedings and the procedure of Rosfinmonitorings cooperation with law enforcement bodies with the goal of investigating and solving crimes.

The Impact of Digital Transformation in the Accounting System of Fuel and Energy Complex Enterprises (International Experience)

The global fuel and energy market occupies a significant position in international trade, which encourages companies in the industry to carry out a digital transformation in the supply chain and accounting of related transactions. Digital transformation occurs through the introduction of modern information technology, which leads to increased productivity at all stages of the supply chain in the fuel and energy sector and simplified accounting of transactions. Positive processes are characterized by the convergence of markets, and negative processes are characterized by the fragmentation of energy markets and their isolation at the national level. To solve these problems in the field of accounting, it is necessary to constantly improve ERP systems based on the creation of a unified ecosystem of the fuel and energy sector. The world practice of using Enterprise Resource Planning products in the fuel and energy sector is considered. Based on the trend and structural analysis world oil and gas imports have been investigated to determine the dynamics and geographical structure of the fuel and energy market. The forecast of the dynamics of oil imports is made. The article proposes a functional model of the supply chain in the energy sector based on blockchain technology. The article defines digital technology with a focus on blockchain and artificial intelligence. The process method is used in the formation of an invoice generation model. The advantages of ERP systems are identified and global experience in invoice generation in accounting is summarized. The OpenText Vendor Invoice Management (VIM) software product is characterized, allowing its integration with the SAP ERP invoice accounting and payment system. The main issues of digital transformation in the accounting system, stimulating the improvement of specialists' competencies when working with digital platforms, are identified.

Privacy-Preserving, Scalable Blockchain-Based Solution for Monitoring Industrial Infrastructure in the Near Real-Time

This paper proposes an improved monitoring and measuring system dedicated to industrial infrastructure. Our model achieves security of data by incorporating cryptographical methods and near real-time access by the use of virtual tree structure over records. The currently available blockchain networks are not very well adapted to tasks related to the continuous monitoring of the parameters of industrial installations. In the database systems delivered by default (the so-called world state), only the resultant or the last value recorded by the IoT device is stored. Effective use of measurement values recorded in the past requires each time viewing the entire chain of recorded events for a given IoT device. The solution proposed in the article introduces the concept of dependent wallets, the purpose of which is the aggregation and indexation of changes in machine parameters, recorded in the original wallets. As a result, we can easily get data from a certain sensor or sensors in the specified date range, even if the chain of transactions is very long. Our contribution is a universal mechanism that improves the efficiency of the infrastructure monitoring process, which uses blockchains to record measurements from sensors. The proposed model has been experimentally tested on two types of blockchains: Stellar and Hyperledger Fabric.

Methods and means of deanonymization of transactions in blockchain

This paper presents the results of a study of the properties of transactions formation and processing of in blockchain systems, aimed to identify existing barriers to the secure functioning of the network, processing and transmission of data between users, and to determine possible means of deanonymizing transactions. The anonymity of the network is one of the reasons for cryptocurrencies popularity and widespread use of blockchain technology. However, its presence is the basis for unscrupulous transactions, criminal actions of fraudsters and attacks on the system. Therefore, one of the main issues today is to ensure the reliable storage of information and the ability to track suspicious activity and timely protection of users in blockchain systems. The article examines known methods of increasing anonymity and maintaining confidentiality in modern networks based on the principles of blockchain technology, the threats arising from their use and the possible ways of tracking the actions of system participants. A comparative description of known tracking tools and possible means of de-anonymization of the history of completed transactions is given. As a result of the study, it was proposed to use a separate platform to analyze the network in real time, identify threats and their timely elimination, with the ability to visualize relationships and build address graphs as a result of tracking the entire chain of transactions. The tool makes it possible to implement a search among cryptocurrency addresses, blocks, transactions and tags, as well as to identify clusters associated with a particular address. The system analyzes the network in real time to gain insight into the statistics. Particular attention is paid to detecting so-called anomalies, i.e., the identification of transactions that deviate from standard structures. This allows identifying and tracking potentially malicious activities at an early stage.

Procedural differences between mutual legal assistance and international informal assistance

Countries around the world face legal impediments when dealing with the recovery of criminal assets - especially developing countries that do not have the resources to deal with the skills and creativity of criminals. The scale of the problem is growing and shows us that a more effective approach is needed to recover stolen funds. There is a perception that ,,international cooperation” in an investigation and recovery of assets refers to international legal assistance - the formal process of requesting assistance from a foreign jurisdiction. However, in practice, there is a step that should be earlier in the process, which is often ignored or forgotten and which is just as important, if not more so. This is mutual administrative assistance, often described only as ,,informal assistance”. Almost all cases of corruption and embezzlement have a significant international dimension, whether it is foreign bank accounts and residences abroad or a chain of transactions circulating in several jurisdictions. To start informal international cooperation, all that is required is for an officer or prosecutor to pick up the phone or email his or her counterpart in another jurisdiction to request assistance in verifying the information to support a criminal investigation. This informal cooperation helps the investigation team to develop a better and more complete picture of the case. It helps them to identify official evidence that may be required from abroad to successfully prosecute and, ultimately, to recover any criminal assets with limited resources at hand

A blockchain based approach for improving transparency and traceability in silk production and marketing

Blockchain technology may be described as a distributed digital ledger database for transparent and immutable recording of transactions occurring between a groups of nontrusting parties. Transactions can be implemented without any intermediaries. Given this potential, it can play a great role in enhancing Supply chain management. Silk production and marketing has exponentially increased and spanned across the world in recent years. To redefine current silk production and marketing industry, there is a need to strengthen its supply chain management process. With Blockchain, government, farmers, weavers, and sellers can collaborate on a single system without any inconvenience. They create an immutable chain of transactions which can be verified by any of the parties. There is an immutable shared ledger that no one can modify. This research presents a private and permissioned application that uses Blockchain and aims to automate the shipping processes among different participants in the supply chain ecosystem. Data in this private ledger is governed with the participants’ invocation of their smart contracts. The performance of the proposed work is evaluated in terms of the transaction throughput, transaction average latency, resource utilization with a fixed and variable rate of transactions.

Economic Vulnerabilities and Livelihoods: Impact of COVID‐19 in Fiji and Vanuatu

Economic Vulnerabilities and Livelihoods: Impact of <scp>COVID</scp>‐19 in Fiji and Vanuatu

A pénzmosás magyarországi jogi szabályozásának vázlata

A penzmosas folyamata soran az elkovetők a torvenytelen uton megszerzett penzt torvenyes forrasbol szarmazo profitkent igyekeznek feltuntetni, celjuk ennek ellenere nem a nyereseg realizalasa, hanem legalis reszcselekmenyek sorozatan keresztul a penz illegalis eredetenek elrejtese, majd a penzugyi rendszerbe tortenő bevezetese. Az elkovetők ennek soran a megszerezhető nyereseg akar jelentősebb hanyadarol is hajlandoak lemondani, mert a penzmosas eredmenyekent fennmarado osszeg meg igy is tetemes. A hatarokon ativelő penzugyi tranzakciok vegrehajtasaban, kivitelezeseben sok esetben offshore cegek, egyeb penzugyi vallalkozasok, befektetői csoportok vesznek reszt. Az egyre szigorodo penzugyi szabalyozas ellenpontjakent a bűnelkovetők uj tipusu elkovetesi modszerek iranyaba fordultak (alternativ penzugyi szolgaltatasok, anonim fold alatti bankrendszer, segelyszervezetek, alapitvanyok igenybevetele, kriptovalutak hasznalata etc.). A kaotikus, attekinthetetlen szervezeti strukturak, gyanus penzmozgasok vegső soron mind egy iranyba mutatnak: a tisztesseges piac műkodeset, a demokratikus jogallam penzugyi stabilitasat teszik kockara.

Real-time supply chain—A blockchain architecture for project deliveries

Abstract Real-time tracking and tracing are important in providing a unified view of global supply chains consisting of several parties. This paper illustrates the needs and requirements for managing supply chains in multi-company project environments by adopting various tracking and tracing technologies. This kind of tracking and tracing is especially needed within distributed architectures engaged in project-based businesses, where several vendors are involved in a single project. Such tracking and tracing data can be used extensively to generate key performance indicators, which can be used to measure and control supply chain processes. This paper also proposes a pilot system of a cloud-based portal for real-time tracking and tracing of logistics and supply chains. This portal is formed by the combination of RFID, IoT and blockchain technology into an integrated real-time view. RFID (Radio Frequency Identification) and IoT (Internet of Things) provides real-time information or data, while blockchain technology is used to provide a chain of immutable transactions. The architecture of the proposed portal system is connected to transport companies, tracking devices, consolidation points and suppliers. The pilot study also illustrates the benefits and advantages of such a portal system.

The Propagation of Demand Shocks Through Housing Markets

Housing demand stimulus produces a multiplier effect by freeing up owners attempting to sell their current home, allowing them to re-enter the market as buyers and triggering a chain of further transactions. Exploiting a shock to first-time home buyer demand caused by the 2015 surprise cut in Federal Housing Administration mortgage insurance premiums, we find that homeowners buy their next home sooner when the probability of their current home selling increases. This effect is especially pronounced in cold housing markets, in which homes take a long time to sell. We build and calibrate a model of the joint buyer-seller search decision that explains these findings as a result of homeowners avoiding the cost of owning two homes simultaneously. Simulations of the model demonstrate that stimulus to home buying generates a substantial multiplier effect, particularly in cold housing markets.

Will Blockchain Become the New Operational Backbone in Energy?

As digital innovations such as artificial intelligence, cloud computing, automation, and the Internet of Things (IoT) become more readily usable, energy companies are developing strategies that incorporate these burgeoning systems into their operational infrastructure. Distributed ledger technology—otherwise known as blockchain—may be the backbone of this new infrastructure. Already well-known in the financial sector, blockchain is a peer-to-peer (P2P) network technology that uses advanced computer science techniques to enable trustworthy interactions between parties, even if those parties do not trust each other. It is a shared electronic ledger in which access can be managed by multiple sources, including anonymous ones. Proponents say blockchain is reliable and likely to change the way in which energy companies perform transactions. Operators are already working with various blockchain platforms, but the developers of these platforms are still forging a path that they hope will lead to widespread adoption within the industry. The Mechanics of Blockchain Fig. 1 illustrates the basics of a blockchain platform. An entity requests a transaction, the transaction is broadcast to a P2P network, validated, combined with other transactions to create a block of data within a ledger, and added to a chain of previous transactions in a way that is permanent and unalterable. These transactions can represent anything, from the exchange of numbers of digital assets to the acceptance of a trade of a digital commodity that can be audited by a third party for authenticity without revealing sensitive information. The blockchain ledger can be shared with all members at all times. It is not stored in one place, and there is full transparency—companies can control exactly which information gets shared and with whom. A blockchain entry can include executable computer code that reflects the terms of the contract, creating a smart contract that automatically validates transactions without the need for human intervention. A smart contract selfexecutes code that enables straight-through processing and eliminates the need for manual intervention in the execution of a transaction. Smart contracts can mimic regular contracts and execute the contract automatically if the conditions required to consummate the contract are met. Jerry Bailey, director and president of Petroteq and a former senior executive engineer at Exxon, compared blockchain to traditional means of storing information. “We all have had big file cabinets, big file rooms all through the years,” Bailey said. “You go into a file room and find dozens of file cabinets. Everybody had a key to the file room but not everybody had a key to each of the file cabinets, depending on what their part in the company was. Blockchain is like this to me. It sets up a system where not only the company, but our vendors, our suppliers, and our buyers can look into the appropriate file cabinet, as it were.”

Money laundering detection system (MLD) (a complementary system of Rastin banking)

PurposeThis paper aims to define a new system for detecting money-laundering activities by comparing tax payments (especially value-added tax) data to banking transactions data.Design/methodology/approachA money laundering detection (MLD) system provides the necessary bases for detecting deception and fraud. Though MLD is a complementary system of the Rastin Banking system, it can also be installed and executed separately.FindingsThe underground economic activities can be detected and traced by comparing banking information and transaction information in MLD system. It needs to force the direct transactors or other related forms of transaction to perform their money operations through the banks. In the next step, the tax information of transactors (in a chain of transactions) can be compared with them, and the incompatibility of the two sets of data will explore money-laundering operations.Research limitations/implicationsThis system is novel and needs to be more elaborate to remove further practical problems and specific cases.Practical implicationsMLD system provides necessary protection for those who perform legal economic activities by detecting financial criminals.Social implicationsMoney laundering harms individual and public rights as well as economies. Financial crimes, tax evasion, smuggling, conspiracy, embezzlement and various other offences are included in the general definition of money laundering, so detecting them will lead to important economic improvements in the society as well as international community.Originality/valueMLD system provides structural and electronic bases for computerized tax data and banking data comparison.

The chain of security

AbstractIncreasingly, private companies – including Twitter, airlines, and banks – find themselves in the frontline of fighting terrorism and other security threats, because they are obliged to mine and expel suspicious transactions. This analytical work of companies forms part of a chain, whereby transactions data are analysed, collected, reported, shared, and eventually deployed as a basis for intervention by police and prosecution. This article develops the notion of theChain of Securityin order to conceptualise the ways in which security judgements are made across public/private domains and on the basis of commercial transactions. Drawing on the work of Bruno Latour, this article understands the security chain as the set of practices whereby commercial transactions are collected, stored, transferred, and analysed, in order to arrive at security facts. Understanding the trajectory of the suspicious transaction as a series of translations across professional domains draws attention to the processes of sequencing, movement, and referral in the production of security judgements. The article uses the chain of financial suspicious transactions reporting as example to show how this research ‘thinking tool’ can work. In doing so, it aims to contribute to debates at the intersection between International Relations (IR) and Science-and-Technology Studies (STS).

Marketing of tourism services: problems and prospects of tourism industry in Telangana

The rationale for a separate treatment of services maketing centres on the existence of a number of characteristics of services which are consistently cited in the literature: intangibility, inseparability of production and consumption, heterogeneity, and perishability (V.A. Zeithaml.et.al). In this day and age tourism has emerged as one of the fastest growing serivice industry in the world, in India and also in Telangana and registers its importance in not only developing the country and state economically but also in providing a source of income, employment, and it also brings needed infrastructural improvements which may help in regional development. It may also help in socio-cultural linkages at the national and international level. It is a multi-disciplinary subject and touches almost every aspect of human activities. It is an industry induces more employment opportunities, but also generates a further multiplier effect through a successive chain of transactions that occur. Therefore the specified significances of tourism when considered alongside the paradigm change in the concept of the term tourism, and the many linkages to different services, impelled the researcher to undertake a conventional study on the problems and prospects of Telangana Tourism Industry in the current period of rapid globalization. The paper also makes some policy suggestions to address the constraints in promoting sustainable tourism in Telangana.

A new concurrency control mechanism for multi-threaded environment using transactional memory

Software transactional memory (STM) is one of the techniques used towards achieving non-blocking process synchronization in multi-threaded computing environment. In spite of its high potential, one of the major limitations of transactional memory (TM) is that in order to ensure data consistency as well as progress condition, TM often forces transactions to abort. This paper proposes a new concurrency control mechanism. It starts with the existing TM implementations for obstruction freedom and eventually builds a new STM methodology. The primary objective is to reduce aborting of transactions in some typical scenarios. A programming model is described for a chain of update transactions that share the same data object among themselves. Using the proposed approach, any new update transaction appended in this chain need not wait for the earlier transactions to finish. The proposed STM allows wait-free, non-blocking implementation of a mix of read and multiple update transactions on the same shared data object with higher throughput.