Ownership Transfers Research Articles

Debtors Responsibilities in Subsidized Home Loan Takeovers Based on Indonesian Ministerial Regulation Number 26/PRT/M/2016

The transfer of ownership for Subsidized Home Ownership Loans (KPR) is prohibited unless the property has been occupied for over 5 years. Despite this rule, violations frequently occur, highlighting gaps in enforcement and a lack of debtor responsibility in credit repayment. This study addresses two main questions: 1) What are the responsibilities of debtors in taking over subsidized KPR based on Regulation Number 26/PRT/M/2016 at Bela Berlian 3 Housing, Kampar Regency? 2) What are the legal consequences for debtors in such takeovers? Using empirical legal research with primary data, the study found that debtors often fail to meet their obligations, including the misuse of bank funds intended for housing debt repayment. This leads to defaults and breaches of contract. Unauthorized takeovers may result in the withdrawal of KPR subsidies, but enforcement remains inconsistent, causing legal uncertainty for new debtors. The research calls for stronger enforcement to prevent unauthorized KPR ownership transfers.

Blockchain and ML in land registries a transformative alliance

This study presents a novel method for merging blockchain security and machine learning (ML) valuation to update land register systems. The system offers a safe, open, and effective framework for documenting and managing land ownership, addressing issues with conventional land registry procedures. Blockchain technology creates a tamper-proof record by cryptographically combining transactions and time-stamped entries to provide an immutable and decentralized ledger. In addition to building a solid foundation for the land registry system, this strengthens trust. Simultaneously, ML algorithms examine variables such as amenities and location to remove inflated pricing, providing accurate assessments and encouraging openness in the real estate sector. The system has been put into practice and verified in small-scale applications. Its features include enhanced data security, expedited ownership transfers, and accurate asset appraisals. Collaboration between governments, regulatory agencies, and technology suppliers is necessary for widespread deployment. Land registration procedures will change as a result of the revolutionary partnership between blockchain and ML technology, which offers a more effective, safe, and future-ready environment. Accepting this ground-breaking technique establishes a new benchmark for the updating of land ownership data and is a major step toward a more sophisticated and dependable method in the industry.

Assessing Resident Satisfaction in Subsidized Housing in Indonesia: A case study of FLPP subsidized housing in Bekasi Regency

The Housing Financing Liquidity Facility (FLPP) program in Indonesia is designed to provide subsidized housing to Low-Income Communities (LIC) with the overarching goal of fostering homeownership. However, a burgeoning issue has emerged wherein these subsidized residences either remain unoccupied, are leased out, or undergo ownership transfers within a five-year period post-purchase. This research delves into the examination of resident satisfaction within FLPP-subsidized housing, a pivotal determinant potentially influencing residents’ choices to either continue residing or relocate. A survey encompassing 100 respondents was conducted in Bekasi Regency, a selected locale notable for its disproportionately higher concentration of FLPP-subsidized housing units compared to proximate areas surrounding Jakarta. Employing scoring methodologies for data analysis, our empirical findings reveal divergent levels of satisfaction among residents residing in different FLPP-subsidized housing estates in Bekasi Regency, ultimately reflecting an overarching sense of contentment. Nevertheless, certain facets of concern have surfaced, specifically pertaining to housing quality, accessibility, and public transportation. These specific areas assume critical significance, given their potential implications on housing affordability and overall habitability, thereby warranting targeted policy interventions. This study provides valuable insights into the efficacy of subsidized housing initiatives, shedding light on the determinants impacting resident satisfaction and subsequent housing-related decision-making processes.

Land Registration System Using Blockchain

The current land registration system relies on paper-based methods, prone to fraud, errors, and security vulnerabilities. These shortcomings contribute to prolonged registration processes and an increase in fraudulent activities. To overcome these challenges, this paper proposes a blockchain-based land registration system. Blockchain technology provides an immutable and decentralized ledger, ensuring the security and reliability of land records. By eliminating intermediaries, the blockchain-based registry streamlines land ownership validation, reduces costs, and accelerates registration timelines. This paper explores the potential of blockchain in land registration, focusing on fraud prevention, secure ownership record storage, and facilitation of transfer through cryptographic algorithms and smart contracts. The paper discusses the limitations of traditional land registration systems, including security, transparency, and efficiency issues. It then outlines how blockchain technology addresses these challenges by offering a transparent and secure registration mechanism. Utilizing cryptographic algorithms and smart contracts, blockchain ensures tamper-proof record-keeping and enables swift and transparent ownership transfers.

Hybrid bioinspired approach for secret sharing algorithm and ownership transfer optimization in cloud based models

It is widely accepted that secret sharing models like Shamir cryptosystem allows cloud designers to deploy highly secure multichannel data transfer mechanisms. But these systems are majorly static, and do not incorporate context-aware share-selection techniques. Moreover, SaaS based cloud deployments require ownership transfers for efficient real-time operations. These ownership transfer mechanisms are backed by selection encryption models assisting in permission-aware data sharing. Scholars have put forward pre-emptive and bioinspired models to accomplish these tasks, but nearly all of them are still sophisticated or demonstrate limited flexibility in real-time scenarios. The proposed structure first gathers cloud logs for various temporal requests and groups them based on IP & resource constraints with the goal of getting around these problems. The modified rules are initially tested on dummy ownership requests, and are later on real-time ownership-transfer scenarios for validation of their efficiency levels based on accuracy of misconfiguration detection, delay needed for processing the requests, consistency of blocking invalid ownership requests, and request throughput levels. Based on this evaluation, The accuracy might be increased by 3.5% using the suggested model, reducing delay by 2.9%, while having 6.4% higher consistency, and 8.3% higher throughput than existing secret sharing & ownership transfer methods under similar deployment scenarios.

Blockchain Technology and Corporate Governance: An Analysis of Board Structure, Shareholder Rights and Compensation Policies

The blockchain technology (BT)_offers a new means to trade and monitor the ownership of financial assets which is similar to the advent of double-entry bookkeeping centuries ago. This represents a significant development in financial record-keeping. Stock exchanges are investigating BT worldwide to enable businesses to list, to trade and to vote on shares. This adoption has the potential to benefit stockholders through reduced trading costs, faster ownership transfers, improved record accuracy and increased process transparency. This study examines the effect of BT on corporate governance. Using feasible generalised least squares analysis, our study analyses data from 297 European businesses included in the STOXX Europe 600 index between 2016 and 2021. The results show that the adoption of BT improves the quality of board decision-making and streamlines board activities. In addition, the study indicates that BT facilitates greater direct shareholder rights and encourages effective worldwide administration of director and board member compensation. The research contributes to the current body of literature by confirming the positive impact of implementing (BT) on enhancing corporate governance measures. This, in turn, assists managers in formulating appropriate strategies.

Punishing people through property: Strategic task force inspections at the nexus of criminal and civil legal systems

In this article, we investigate a largely unexplored policing mechanism: Strategic Task Force (STF) inspections in Chicago. This process exists at the intersection of civil and criminal legal systems: properties affiliated with criminal drug or gang activity are swept by building inspectors and police officers, with the explicit purpose of finding code violations and prompting civil legal action against the owner. Using two datasets of inspected buildings, we demonstrate that those who own properties targeted by the STF more often face financial and legal hurdles such as foreclosures, ownership transfers, and property restrictions. This finding coheres with qualitative court data, which demonstrates a pervasive punitive attitude in STF cases. We argue that STF inspections amount to a denial of criminal due process for residents in communities of color, punishing alleged offenders via a civil process with much more flexible procedural standards. Our analysis of punishing people through property highlights the need for expanding standards of criminal due process to civil contexts to guarantee defendants’ substantive rights.

Smart and Secure Blockchain Structure to Track Vehicle Record-keeping in the Sultanate of Oman

In the country of Sultanate of Oman, the Royal Oman Police (ROP) is responsible for carrying out the Inspection, Registration/Renewal, Transfer of ownership, Licensing of a vehicle and the Investigation of traffic accidents. The traditional system used for storing this information does not guarantee whether any information has been tampered with or manipulated. Having a tamper-proof methodology like Blockchain to capture this important information in a distributed ledger register can enable all the participants in the Registration Chain (Supplier of the vehicle, Owner of the vehicle, various Government Agencies and public at large) to gain confidence, build trust and authenticate records that are maintained by the centralised agency. In this paper, a groundbreaking solution built on Hyperledger Besu, a permissioned Ethereum blockchain platform, is introduced that offers a revolutionary approach to vehicle registration and management. It ensures secure and immutable vehicle registration, utilizing IPFS for document storage and ERC-20 tokens to track vehicle history. This Ethereum-powered system facilitates transparent ownership transfers, comprehensive vehicle history tracking, streamlined insurance renewals, seamless vehicle inspections, real-time tracking, and blockchain-based verification, all contributing to heightened efficiency and trust in vehicle processes for the Omani government. By integrating blockchain technology, this solution addresses the challenges of data integrity, security, and transparency that have long plagued the vehicle registration and transfer processes in Oman. This paper highlights the potential of blockchain to revolutionize governmental services and improve the overall efficiency and trustworthiness of vehicle-related transactions, ultimately benefiting both the government and citizens alike.

Graveyard Management with Geographical Information System and Operational Business Analytics for Negros Occidental

Managing cemeteries and memorial gardens is challenging due to manual processes, leading to inefficiencies and errors. This study introduced a geographical information system (GIS) with operational business analytics to address these challenges. As an initial deployment, this system covered only the cemeteries and memorial gardens in Negros Occidental (Western Visayas, Philippines). In addition, this study streamlined cemetery operations, improved service delivery, automated data management and analysis, and optimized gravesite maintenance. The system utilizes GIS technology to map the cemetery and visualize data, providing a complete overview of burial grounds. By leveraging operational data, the system enabled data-driven decision-making, optimized resource allocation, and predictive capabilities. The information system component allows authorized personnel to access and update burial records, automate billing processes, and generate reports. It eventually reduced the administrative tasks and ensured accurate and up-to-date information. In addition, the system has a tracking feature that simplifies ownership transfers. Furthermore, the system assisted in optimizing gravesite maintenance by providing tools to track and schedule necessary upkeep tasks. It ensured that gravesites were well-maintained, creating a respectful and pleasant environment for visitors. To enhance the visitor experience, the system incorporated a user-friendly interface. Hence, visitorscanr gravesites, leave tributes, and receive notifications using the system, creating a more personalized and meaningful experience for individuals paying their respects to their loved ones.

Preliminary evidence for progressions in ownership reasoning over the preschool period.

Defining developmental progressions can be an important step in identifying developmental precursors and mechanisms of change, within and across areas of reasoning. In one exploratory study, we examine whether the development of children's thinking about ownership follows a systematic progression wherein some components emerge reliably before others. We examine this issue in a sample of 72 children: 40 older 2-year-olds, Mage = 2.78 (.14); R = 2.50-3.00, and 32 older 4-year-olds, Mage = 4.77 (.16); R = 4.50-5.00, living in Michigan in the United States. We use a battery of four established ownership tasks that tested different aspects of children's ownership thinking. A Guttman test revealed a reliable sequence that explained 81.9% of children's performance. Namely, we discovered that identifying familiar owned objects emerged first, control of permission as a cue to ownership second, understanding ownership transfers third, and the tracking of sets of identical objects last. This ordering suggests two foundational ownership abilities on which more complex reasoning may be built: the ability to include information about familiar owners in children's mental models of objects and recognizing that control is central to ownership. The observed progression is an important first step toward developing a formal ownership scale. This study paves the way for mapping the conceptual and information-processing demands (e.g., executive functioning, memory) that likely underlie change in ownership thinking across childhood. (PsycInfo Database Record (c) 2023 APA, all rights reserved).

THE ARTIFICIAL INTELLIGENCE AS AN INVENTOR LEGAL STUDY

This article discusses a new challenge to the legal rules governing patent, in the event that innovation is patented by Artificial Intelligence (AI), innovations that would have more capabilities than humanity can ever boast, and thus, be able to innovate without resorting to the human element.
 One of the most important concerns in granting a patent to AI is that the legalities of the rules governing the granting of a patent required that the “person” who obtains it, be a natural or moral person. Moreover, to whom will the ownership transfers of the financial rights associated with the patent will go? Is it to the user utilizing the AI? Or the programmer who created it?
 The study recommends that these problems be addressed through, amending the legal texts in such a way as to help AI obtain an electronic legal personality, as such obtained by the moral person, and altering the standards of authenticity of innovation in place of a patent.

Blockchain and IPFS‐based reliable land registry system

AbstractLand registration is a process of keeping track of landowners of existing land. Registration of land helps maintain proof of ownership and prevents illegal land possession. Land‐related conflicts are common in developing countries like India due to inconsistent data and transparency. The land ownership transfers also take a longer time than expected. This article presents a land registry system using blockchain and InterPlanetary File System (IPFS) technology to overcome the mentioned problems. The land records will be immutable using blockchain, and nobody will forge them illegally. The system will be more transparent as all the users in the blockchain network can view the land and the owner's details before getting into ownership transfer. For maintaining the integrity of land and owner details, it will get stored in IPFS. The land transaction will be carried out via a smart contract. The smart contract checks whether all the entities agree with the transaction, and the money will get transferred within the described time limit. This proposed system will strengthen the land administration process by providing immutable and transparent land records. It will also speed up the registration process by a significant amount.

Blockchain Technology for Enhancing Traceability and Efficiency in Automobile Supply Chain—A Case Study

A robust traceability system would help organizations in inventory optimization reduce lead time and improve customer service and quality which further enables the organizations to be a leader in their industry sector. This research study analyzes the challenges faced by the automotive industry in its supply chain operations. Further, the traceability issues and waiting time at different nodes of the supply chain are considered to be priority issues that affect the overall supply chain efficiency in the automotive supply chain. After studying the existing blockchain architectures and their implementation methodology, this study proposes a new blockchain-based architecture to improve traceability and reduce waiting time for the automotive supply chain. A hyper ledger fabric-based blockchain architecture is developed to track the ownership transfers in inbound and outbound logistics. The simulation results of the proposed hyper ledger fabric-based blockchain architecture show that there is an improvement in the traceability of items at different nodes of the supply chain that enhances the Inventory Quality Ratio (IQR) and the mean waiting time is reduced at the factory, wholesaler, and retailer, which thereby improves the overall supply chain efficiency. The blockchain embedded supply chain is more capable to eliminate the risks and uncertainties associated with the automotive supply chain. The benefits of adopting blockchain technology in the automotive supply chain are also described. The developed blockchain-based framework is capable to get more visibility into goods movement and inventory status in automotive supply chains.

Creditors, Plan Confirmations, and Bankruptcy Reorganizations: Lessons from Slovenia

Creditors often critically shape the fate of bankruptcy reorganizations, yet the drivers and implications of creditors’ reorganization plan confirmations are still not completely understood. Exploring micro-level data on bankruptcy reorganization proceedings in Slovenia, we find that creditors, above all, demand a credible change in the exercise of control rights. The prospects of plan confirmation are positively associated with debt-to-equity conversion as well as those majority ownership changes that occur during the proceeding and feature a domestic incoming owner. In contrast, we find no evidence that plan confirmation is related to management turnover, majority ownership transfers involving a foreign incoming owner, pre-bankruptcy financial indicators other than leverage, the number of creditors, the value of different types of claims, and even the contractual details for the repayment of claims. The incidence of creditor-induced socially costly filtering failures is quite high, with estimates ranging between 41 and 78% based on the ex-post approach and between 40 and 61% based on the ex-ante approach. Confirmations of plans from non-viable businesses are more prevalent than rejections of plans from viable businesses. Our results provide a novel perspective on the creditors’ role in the resolution of business bankruptcy.

Market Power and Renewables: The Effects of Ownership Transfers

Adding renewable energy sources (RES) to an electricity market has an ambiguous effect on wholesale prices. The merit order effect (MoE) has a downward pressure on prices while, with market power, higher inframarginal rents will tend to increase prices. We quantify the interaction of the two effects in the Ontario electricity market. We identify the market power effect by simulating transfers of RES capacity from the fringe to larger firms: these transfers increase prices by up to 24%. We then add RES capacity and allocate it to players with varying levels of market power. Following a net expansion of RES capacity of 5% relative to total capacity, prices decrease by 30% when new capacity is assigned to the fringe, but only by 7% when assigned to the largest firm. Our findings show that the MoE is largely mitigated by market power, hence the importance of the market structure in the design of uniform incentives for RES adoption.

Tokenisation: Assembling the building blocks of an institutional digital assets marketplace

The tokenisation of securities using distributed ledger technology (DLT) is blurring the traditional distinction found in the level of automation in capital market services in the public and private markets. In the last three years, security tokens have helped dozens of issuers and both individual and institutional investors based in dozens of countries manage their private securities in a compliant and fully digital way. We take a long-term view in that all assets will ultimately be tokenised and that this will reduce frictions in asset issuance, servicing and ownership transfers, and remove barriers to accessing capital markets and financial innovation. The authors are in a unique position to witness the transformation in the way business-to-business (B2B) consensus is established in traditional capital markets, as well as to be a pivotal part of the buildout of the nascent decentralised capital markets infrastructure. The authors share their thoughts based on the initiatives they have undertaken so far, in the hope that this invites thoughtful discussion from experienced industry participants.

ABANDONED AGRICULTURAL LAND IDENTIFICATION USING OBJECT-BASED APPROACH AND SENTINEL DATA IN THE DANUBIAN LOWLAND, SLOVAKIA

Abstract. Farmland abandonment is a widespread phenomenon in different parts of the Earth especially in the countries of Central and Eastern Europe where large areas of agricultural land were left uncultivated, state-support and markets for agriculture disappeared and land reforms resulted in massive land ownership transfers following the collapse of socialism. Remote sensing and geographic information system provide powerful tools for identification and analysis of abandoned agricultural land (AAL) at various spatial and temporal scales. Here we present an approach to AAL extraction from Sentinel-1 and Sentinel-2 images, provided in the frame of the European Copernicus program. This study aims to investigate and map the spatial distribution of AAL on the foothill of Little Carpathians and in the Danubian Lowland, Slovakia. The presented case study showed the possibility of the use of Sentinel images and the object-based image analysis in the process of AAL identification that may improve the transfer of scientific knowledge to the local agri-environmental monitoring and management.

Market Power and Renewables: The Effects of Ownership Transfers

The introduction of renewable energy sources (RES) in an electricity market changes the shape of the system’s supply curve. In a perfectly competitive market, this causes a downward pressure on equilibrium prices called the merit order effect (MoE). However, when introducing or transferring RES assets to firms with market power, effects on inframarginal rents are ambiguous and depend on the share of RES capacity in the firms’ portfolios. We quantify this effect empirically in the Ontario electricity market by finding equilibria under different counterfactual scenarios of RES ownership transfers and expansions. First, we identify the effect of market power in isolation by keeping the system’s capacity fixed, but we transfer RES capacity from the fringe (competitive) to firms with market power. These transfers yield increases in prices of up to 24% relative to average wholesale prices. Then, in order to measure the interaction of market power with the MoE, we introduce new RES capacity to the system by giving it to different players with varying levels of market power. We find that, following a net expansion of RES capacity of 5% relative to total capacity, wholesale prices decrease by up to 30% in the case of perfect competition. However, if capacity is assigned to the largest firm the decrease in prices is only 7%. These findings suggest that the MoE can be largely mitigated by market power, hence the key importance of the nature of the owner of new capacity when designing uniform incentives for RES adoption.

Blockchain for tracking serial numbers in money exchanges

SummaryMoney exchange is one of the most common day‐to‐day activities performed by humans in the daily market. This paper presents an approach to money tracking through a blockchain. The proposed approach consists of three main components: serial number localization, serial number recognition, and a blockchain to store all transactions and ownership transfers. The approach was tested with a total of 110 banknotes of different currency types and achieved an average accuracy of 91.17%. We conducted a user study in real‐time with 21 users, and the mean accuracy across all users was 86.42%. Each user gave us feedback on the proposed approach, and most of them welcomed the idea.

Trackify: A Robust System For Preserving Money Transactions

Money exchange is one of the most ordinary days to day activities done by humans in the daily market. This paper presents an approach for money tracking over a Blockchain. This approach consists of three core components: serial localization, serial recognition, and Blockchain to store all transactions and ownership transfers. The system was examined with a total of 110 banknotes with different currency types and achieved an average accuracy of 91.17%.