Digital Transactions Research Articles

CONTRATOS E ASSINATURAS DIGITAIS – VALIDADE, CONFECÇÃO E JURISPRUDÊNCIA

This article presents an evolutionary analysis of contracts, from the rigidity of Roman Law to the flexibility and complexity of contractual relationships in the digital age. The research addresses the importance of the digital signature as a tool to guarantee the authenticity, integrity, and legal validity of electronic contracts. The concepts of electronic, digitized, and digital signatures are explored, as well as the Brazilian legislation that regulates this practice. The relevant Brazilian legislation, especially Law 14.063/2020, is analyzed to verify how it regulates and validates digital signatures, highlighting any gaps or challenges that may still compromise legal security. To clarify the differences between types of signatures, the text details three types: electronic, digitized, and digital, explaining the particularities of each and the authentication methods, with emphasis on the ICP-Brazil certification system. The Brazilian Public Key Infrastructure (ICP-Brasil) is detailed as a fundamental system for the security of digital transactions. In addition, the different modalities of electronic contracts, the tools available for digital signatures are discussed, including presenting free digital signature tools made available by the Brazilian government and the challenges related to the security and legal validity of these documents. It is concluded that the digital signature represents a significant advance in the formalization of contracts, providing greater security, agility, and efficiency in legal relationships.

Blockchain Integration in Critical Systems Enhancing Transparency, Efficiency, and Real-Time Data Security in Agile Project Management, Decentralized Finance (DeFi), and Cold Chain Management

Blockchain technology has garnered significant attention for its potential to revolutionize critical systems by enhancing transparency, efficiency, and data security. This review examines the integration of blockchain in three essential domains: Agile Project Management, Decentralized Finance (DeFi), and Cold Chain Management. By leveraging decentralized ledgers and smart contracts, blockchain provides a robust framework for real-time tracking, data integrity, and automated compliance, addressing long-standing challenges across these sectors. In Agile Project Management, blockchain fosters seamless collaboration and transparent decision-making, minimizing bottlenecks and improving accountability. In DeFi, blockchain strengthens security for digital transactions and identity verification while offering financial autonomy and mitigating fraud risks. Within Cold Chain Management, blockchain ensures traceability, reduces data tampering risks, and enhances visibility throughout supply chain processes, safeguarding temperature-sensitive goods. This paper evaluates existing blockchain-based applications and frameworks, identifies current limitations, and discusses future opportunities for optimizing critical systems through blockchain. The findings highlight blockchain's transformative role in driving operational efficiency, security, and data transparency across diverse applications, providing a roadmap for industries to harness its full potential in critical environments.

Tracing the Success of QRIS Policy Implementation in Surabaya City’s Parking Levy System

This research explores the effectiveness of the Surabaya City Government’s policy on parking levy payments via the Quick Response Code Indonesian Standard (QRIS). The study aims to analyze the policy’s success in increasing Regional Original Income (Pendapatan Asli Daerah or PAD) and enhancing community welfare by improving the payment experience for parking users and supporting efficient management by parking attendants. Using Van Meter and Van Horn’s policy implementation framework, which includes six critical factors—policy standards and objectives, resource allocation, characteristics of implementing organizations, inter-organizational communication, implementer disposition, and socio-political and economic environment—the study evaluates both the facilitating and hindering elements of the policy. A qualitative descriptive methodology was employed, with data gathered through literature reviews, field observations, and structured interviews with key stakeholders, including government officials, parking service providers, and users. Analysis revealed that QRIS implementation has been beneficial in promoting transparency and efficiency in revenue collection, supporting PAD growth. However, challenges such as varying levels of digital literacy among users, limited internet access in certain areas, and reluctance among some parking attendants to adopt digital systems were identified as barriers to optimal implementation. Key findings suggest that the policy’s long-term success hinges on consistent inter-agency coordination, community engagement initiatives to raise digital payment awareness, and ongoing training for parking attendants to improve digital proficiency. The study concludes that achieving sustainable success in implementing non-cash transactions for parking levies requires a holistic approach, integrating community awareness, inter-organizational support, and policy adaptability. This research offers valuable insights for policymakers seeking to improve public service delivery through digital transactions. It highlights the importance of adaptive management in fostering community welfare alongside regional revenue growth.

FinSafeNet: securing digital transactions using optimized deep learning and multi-kernel PCA(MKPCA) with Nyström approximation.

With the swift advancement of technology and growing popularity of internet in business and communication, cybersecurity posed a global threat. This research focuses new Deep Learning (DL) model referred as FinSafeNet to secure loose cash transactions over the digital banking channels. FinSafeNet is based on a Bi-Directional Long Short-Term Memory (Bi-LSTM), a Convolutional Neural Network (CNN) and an additional dual attention mechanism to study the transaction data and influence the observation of various security threats. One such aspect is, relying these databases in most of the cases imposes a great technical challenge towards effective real time transaction security. FinSafeNet draws attention to the attack and reproductive phases of Hierarchical Particle Swarm Optimization (HPSO) feature selection technique simulating it in a battle for extreme time performance called the Improved Snow-Lion optimization Algorithm (I-SLOA). Upon that, the model then applies the Multi-Kernel Principal Component Analysis (MKPCA) accompanied by Nyström Approximation for handling the MKPCA features. MKPCA seeks to analyze and understand a non-linear structure of data whereas, Nyström Approximation reduces the burden on computational power hence allows the model to work in situations where large sizes of datasets are available but with no loss of efficiency of the model. This causes FinSafeNet to work easily and still be able to make accurate forecasts. Besides tackling feature selection and dimensionality reduction, the model presents advanced correlation measures as well as Joint Mutual Information Maximization to enhance variable correlation analysis. These improvements further help the model to detect the relevant features in transaction data that may present a threat to the security of the system. When tested on commonly used database for testing banks performance, for instance the Paysim database, FinSafeNet significantly improves upon the previous and fundamental approaches, achieving accuracy of 97.8%.

UPI's Influence on India's Economic Transformation: Financial Inclusion

The UPI, since its inception in 2016, has revolutionized the financial industry of India. This paper discusses the all-encompassing and deep change brought by the UPI in the areas of economic growth, incorporation of finance, and cashless economy. Digital transactions have become fluent and real-time accessible under the UPI, thus empowering individuals and businesses to easily access previously untapped populations. The digital payments promoted through UPI reduce cash dependency, which controls tax evasion and circulation of black money along with possible operational inefficiencies. The paper focuses on the critical aspect on how the platform has supported economic growth through financing innovation in fintech, drives the expansion of SMEs, and increases overall transparency in transactions. Moreover, UPI has acted as a significant enabler to help the state achieve the government initiatives - Digital India, which helped boost the country's GDP through acceleration of digitalization with improvement in financial inclusion. Despite such a massive success story, the adoption of UPI continues to pose difficulties in rural areas primarily on account of lower degrees of digital literacy and infrastructure. With the prospects that the cross-border transaction will bring in the future, UPI can further establish economic growth. This research article is a reason for mixed feelings - with one hand, the revolutionary impact that UPI has on India's economy, and on the other hand, the challenges that must be overcome for it to reach its fullest potential.

Factors Influencing Generation Z Students in Banten Province to Use Sharia Mobile Banking in 2024

Generation Z, born in the digital era, has become increasingly reliant on mobile banking services for financial transactions. This shift in consumer behavior towards digital transactions is accelerating in Indonesia, particularly in Banten Province, where Sharia Banks are expanding their market penetration. The adoption of Islamic Mobile Banking is influenced by perceived ease, convenience, and benefits. The ease of access and financial benefits obtained are determining factors for customers to use the service. This research aims to explore the factors affecting Generation Z students' interest and behavior in using Sharia mobile banking services at Islamic Banks in Banten Province in 2024. The study uses a quantitative research method, focusing on all Generation Z customers of Islamic Banks in Banten Province. The sample size is 100 people, providing a fairly representative sample. The research aims to provide a deeper understanding of consumer preferences in Islamic finance and contribute to the development of Islamic banking services that are more in line with the needs of students in the region.

Examining the Efficacy of the Law of Sale of Goods and Supply of Services Act 2017 in the Lens of Consumer Protection in Uganda

This study investigates the effectiveness of the Sale of Goods and Supply of Services Act 2017 on consumer protection by examining the legal framework governing it at the national and international levels. Findings reveal that Uganda’s consumer protection law falls short and even the available laws do not protect consumers extensively. This Act also does not cater for any redress system for consumer disputes, rights, and remedies of a consumer, and it is upon such a critical analysis that one can conclude that there is an urgent need to protect consumers in Uganda, mainly by setting up a redress system for consumer dispute resolution. More legislation should be enacted and passed, and consumer rights should be enforced since they are intrinsic to any democratic state, and this will lead to economic development. In light of the observations, the article recommends that the government of Uganda amend the law to include the e-commerce provisions that protect consumers on digitally procured products, both intangible and tangible, which give clear and full protection to consumers against fault-sold digital content products. More so, the government of Uganda should amend the Sale of Goods and Supply of Services Act to clearly define “goods” to also expressly cover digital products and clearly stipulate the mode of digital transactions since such goods are different from ordinary goods that the consumer is able to examine before purchasing them. Keywords: Sale of Goods and Supply of Services, and consumer protection

The Role of Trust in the Normalization of Digital Payment Platforms in the United States

This study aims at identifying the effects of trust on the uptake and sustenance of digital payments in the United States, using Apple Pay, PayPal, and Google Pay. The study's first chapter presents the concept of digital payments and analyzes how factors like security, privacy, and perceived ease of use influence trust. Research on the topic of trust in digital transactions includes a literature review that seeks to identify the research gaps. The study employs both quantitative and qualitative research methods, including questionnaires and interviews, to collect data on the perceived level of trust across various platforms. The study outcomes show that security and privacy are paramount in influencing users’ trust, although there are differences in the different groups. Apple Pay places a significant emphasis on security, whereas Google Pay caters to younger users, albeit with some privacy concerns. The discussion brings out the similarities between the findings and prior research and provides recommendations on how digital payment platforms can cultivate and sustain trust. Final is the outline of the implications for digital payment providers and suggestions on further research, emphasizing the importance of privacy and the context-specificity of trust-building procedures.

An advancement in AdaSyn for imbalanced learning: An application to fraud detection in digital transactions

Imbalanced Learning is a significant issue in machine learning, affecting the performance and accuracy of binary or multi-classification algorithms, especially in large-scale data handling and classification. There are some popular techniques to covert this imbalanced data into a balanced one such as undersampling, under-sampling with tomek links, randomized oversampling, synthetic minority oversampling technique (SMOTE), and adaptive synthetic generation (ADASYN). Generally, the ADASYN algorithm could be used to propagate minority sample points to rise the imbalanced ratio between majority and minority sample points, but in some cases, it may conflict with decision boundary points and noisy points. This paper proposed a Refitted AdaSyn Algorithm (RAA) with Gaussian Distribution (GD). So that new minority samples are distributed much closer to the center of the minority sample to spotlight the conflicts. The classification accuracy has improved with RAA over formal ADASYN. For examining the proposed work the imbalanced benchmark datasets like European, Banksim, Paymentcard, and UCI credit card are considered. Vanilla Generative Adversarial Network (GAN) is a deep learning model used to classify fraud and non-fraud transactions, demonstrating significant differences between balanced and imbalanced learning approaches and achieving an accuracy of 97.5% on dataset DS4.

Digital Rupiah as An Alternative Digital Transaction in Indonesia

Digitalization in the financial industry revolutionized the transaction system with the emergence of Cryptography-based Digital Currencies. It has recently evolved into digital currencies issued by central banks, known as Central Bank Digital Currency (CBDC). Bank Indonesia responds by developing a plan to release Digital Rupiah as part of the digital transformation initiative in the national payment system. This study aims to determine the authors' interest in discussing Indonesia's CBDC as seen through article publication trends. This research uses the systematic literature review (SLR) method. The results show that there is an increasing trend in the publication of articles on Digital Rupiah. The published articles discuss Digital Rupiah from various sides such as legality, implementation mechanism, challenges opportunities and impacts, to its potential implementation.

Dark Web and Its Ramifications

The dark web, a hidden arena of the internet accessible only through specialized software. This intellectual on growing crime is rising day by day. This paper will throw a light on the negative effects of the dark web on the Indian society in the fields of like digital transactions involving money, human trafficking, private forums, online examinations and other sensitive information make up the deep web. Despite existing laws and regulations governing cybercrime and online activities, law enforcements agencies in India encountering significant challenges in investigating and prosecuting crimes committed via dark web technologies.

Digital Transaction for New Economic Transformation of India: Regulatory and Ethical Issues in the Use of AI

India is undergoing digital transformation so far as digitalization of payments is concerned. India’s revolutionary payments platforms, online and mobile banking, e-commerce transactions and third-party payments apps have attracted attention of both developed and developing countries. Research methodology adopted is descriptive and based on secondary sources. More than twenty countries have accepted India’s UPI payments platform for digital transactions. Moreover, India is intensively expanding digital penetration in rural areas through Aadhar enabled payments services vie the JAM Trinity i.e. Jan Dhan Accounts, Aadhar citizen identity cards and Mobile data services. Along with all these however, increasing use of Artificial Intelligence (AI) is seen for facilitating all sorts of e-commerce and digital transactions. This throws immense regulatory and ethical issues towards management of AI especially in digital payments and transactions. This paper delves into the current scenario of digital transformation in India and use of AI by different entities. Further this paper explores the ethical and regulatory dimensions of usage of AI in digital transactions. The paper argues the case for urgent development of regulatory mechanism for AI usage in the digital payments spectrum in India and incorporation of ethical issues in it.

Blockchain Technology: Unlocking New Frontiers in Data Management and Transparency

This article explores the transformative potential of blockchain technology in revolutionizing data management and enhancing transparency across various industries. As a decentralized, immutable ledger system, blockchain offers a secure and efficient way to record, share, and verify information, eliminating the need for intermediaries and reducing the risk of fraud. The article reviews the fundamental principles of blockchain, including distributed consensus, cryptographic security, and smart contracts, to highlight how these features improve data integrity and trust in digital transactions. Through case studies in sectors such as finance, supply chain management, healthcare, and government services, the article demonstrates how blockchain can streamline operations, reduce costs, and promote accountability. Particular attention is given to the role of blockchain in improving transparency by providing an auditable and tamper-proof record of transactions, which is especially valuable in industries prone to corruption and data manipulation. The article also addresses the challenges facing blockchain adoption, including scalability issues, regulatory concerns, and the need for standardization. Additionally, the potential of blockchain in emerging applications, such as decentralized finance (DeFi) and non-fungible tokens (NFTs), is discussed, highlighting the technology’s expanding role in reshaping digital economies. The article concludes by emphasizing that while blockchain is still in its developmental stages, its ability to foster greater transparency and more secure data management systems positions it as a key driver of innovation in the digital age. Future research is recommended to explore further integration strategies and address challenges in widespread blockchain adoption.

Recent Progress in ECDSA and DSA Digital Signature Algorithms

Digital signatures are essential for verifying the authenticity and integrity of information, thus facilitating digital authentication. The Elliptic Curve Digital Signature Algorithm (ECDSA) and the Digital Signature Algorithm (DSA) play critical roles in the field of digital signatures. This paper explores the conceptual frameworks and mathematical underpinnings of these algorithms, providing an in-depth analysis of their advantages and disadvantages with a focus on computational time complexity and key length requirements. The distinct applications of ECDSA and DSA in various fields are examined, highlighting how the selection of an algorithm influences security and efficiency in different scenarios. This analysis also considers the algorithms' suitability for specific security applications, offering insights into their strategic deployment. By comparing these characteristics, the study aims to guide the selection of appropriate digital signature technology, tailored to meet operational needs and security specifications. This comparative approach not only elucidates the practical implications of each algorithm but also contributes to a broader understanding of their roles in securing digital transactions.

Understanding the Dynamics of Cashless Payment System: The Effects of Technology Advancement, Security Concerns, and Competition on Merchant Adoption in Hyderabad, India

This study examined the impact of technology advancement, security concerns, and competition on the adoption of Cashless Payment Systems (CPS) by merchants in Hyderabad City, India using a descriptive research design. A semi-structured questionnaire was administered to business heads, and the data was analyzed using frequency tables, means, correlation, and multiple regression analysis. The study findings revealed that technology advancement, security concerns, and competition significantly influence the process of adoption of CPS. The study recommends that entrepreneurs nationwide recognize CPS, as an opportunity to show case their unique and distinctiveness to capture market share. In light of limited cash availability, digital transactions, classified by the RBI as 'prepaid payment instruments,' are becoming increasingly important, driving more merchants to embrace digital money for better transparency, scalability, accountability and sustainability.

The Size of Transactions, Types of Products, and the Choice Between Electronic Payments and Cash Usage

Fueled by recent policy advancements and technological progress, India’s digital payment system is on the verge of becoming a noteworthy success story. Concurrently, data also highlights the continued reliance on cash. While broad national-level data can provide insights into overall citizen preferences, we utilize a survey-based data-set to gain insight into how factors such as ’transaction size,’ ’nature of the product,’ ’consumer perception,’ ’trust’ in digital payments, and the costs associated with digital transactions influence consumer payment behavior. While demographic factors like age and income play a role in these choices, we discover compelling evidence that an individual’s choice of digital payment methods is strongly shaped by their perception of these options, transaction size, trust, associated costs, and the product category. Notably, we observe that as transaction size increases, the use of digital payment methods tends to decrease.

Perancangan Sistem Informasi Toko Pak Kusno Sidorukun Untuk Mempermudah Jual Beli Barang

Modern digital life relies heavily on information systems (IS) to manage data efficiently, make better decisions, and increase productivity. Mr. Kusno's shop faces problems of goods management, finance, and product promotion. This research designs a customized information system to solve those problems, such as easier digital transaction recording, more optimized goods management, and better financial management. The implementation of this system is expected to increase the efficiency and competitiveness of Toko Pak Kusno. The development method used is the waterfall method, which ensures each step is carried out sequentially from analysis, design, implementation, to system testing. The results showed efforts in designing an information system that can improve the operational efficiency and service quality of Toko Pak Kusno in buying and selling goods and store management.

CONSUMER PROTECTION IN HIRE PURCHASE TRANSACTIONS: A CASE STUDY OF GHANA’S LEGAL FRAMEWORK

Objective: This study critically examines the effectiveness of Ghana's Hire Purchase Act 1974 in safeguarding consumer interests in modern hire purchase agreements. Theoretical Framework: The focus of analysis is the regulatory framework for hire purchase transactions in Ghana in comparison to UK and Australia. Method: The methodology adopted for this research comprises [concisely describe the study design, including approach, participants, instruments, procedures, etc.]. Data collection was carried out through [explain the specific methods used, such as interviews, questionnaires, observations, among others. Results and Discussion: The Act provides fundamental consumer protections through requirements for written agreements, disclosure of terms, and rights to terminate agreements. However, it faces challenges in addressing contemporary market realities, particularly digital transactions, and in providing accessible dispute resolution mechanisms. The study identifies key areas for improvement, including modernization of the Act, introduction of alternative dispute resolution options, strengthening enforcement capabilities, and enhancing consumer education initiatives. Research Implications: These findings contribute to the ongoing discourse on consumer protection in Ghana and offer valuable insights for policymakers considering reforms to the hire purchase regulatory framework. The research emphasizes the need for a balanced approach that enhances consumer protections while maintaining a vibrant hire purchase market in Ghana. Originality/Value: Overall, the study offers a unique and valuable perspective on the effectiveness of Ghana's Hire Purchase Act and provides actionable recommendations for improvement.

Perlindungan Hukum Pembeli atas Ketidaksesuaian Kualitas Barang dan Jasa Berdasarkan Undang-Undang Perlindungan Konsumen

The development of digital technology has encouraged changes in the way of buying and selling transactions, especially through e-commerce platforms. However, in practice, it is not uncommon for the goods and services purchased to not be in accordance with the quality promised by the seller. This study aims to analyze the implementation of Law No. 8 of 1999 concerning Consumer Protection in protecting buyers from non-conformities in the quality of goods and services. The research method used is a normative juridical approach with secondary data from literature reviews and related laws and regulations. The results of the study show that legal protection for consumers has been regulated, but its implementation still needs to be strengthened, especially in digital transactions. This research is expected to provide recommendations for the government and consumer dispute resolution institutions.

A Study on The Dominance of Digital Transaction Over M3 Money Supply Transactions

The financial landscape is evolving increasingly with digital transactions dominating traditional M3 money supply transactions. Given the growth of digital payments, fintech innovations and cryptocurrencies, there is an urgent need to understand the degree to which these electronic transactions have now surpassed or altered conventional M3 money supply operations. In this study, we seek to fill that gap with our understanding and direction forwards. By investigating the effect on financial stability, economic growth and the overall resilience of monetary systems, this research opens up new avenues for analysis in an ongoing dialogue about how digital transformation has been affecting financial transactions and its wider implications for the money landscape.