Types Of Transactions Research Articles

Proof of Fairness: Dynamic and Secure Consensus Protocol for Blockchain

Blockchain technology is a decentralized and secure paradigm for data processing, sharing, and storing. It relies on consensus protocol for all decisions, which focuses on computational and resource capability. For example, proof of work (PoW) and proof of stake (PoS) are the most famous consensus protocols that are currently used. However, these current consensus protocols are required to recruit a node with a high computational or a large amount of cryptocurrency to act as a miner node and to generate a new block. Unfortunately, these PoW and PoS protocols could be impractical for adoption in today’s technological fields, such as the Internet of Things and healthcare. In addition, these protocols are susceptible to flexibility, security, and fairness issues, as they are discussed in detail in this work. Therefore, this paper introduces a proof of fairness (PoF) as a dynamic and secure consensus protocol for enhancing the mining selection process. The selection of the miner node is influenced by numerous factors, including the time required to generate a block based on the transaction’s sensitivity. Firstly, a reverse auction mechanism is designed as an incentive mechanism to encourage all nodes to participate in the miner selection process. In a reverse auction, each node will draw its strategy based on its computational capability and claimed cost. Secondly, an expressive language is developed to categorize transaction types based on their sensitivity to processing time, ensuring compatibility with our miner selection process. Thirdly, a homomorphic concept is designed as a security and privacy scheme to protect the bidder’s data confidentiality. Finally, an extensive evaluation involving numerical analysis was carried out to assess the efficiency of the suggested PoF protocol, which confirms that the proposed PoF is dynamic and more efficient than current PoW and PoS consensus protocols.

Smart Contract Design Pattern for Processing Logically Coherent Transaction Types

Recent research shows that the source code of smart contracts is often cloned. The processing of related types of transactions in blockchain networks results in the implementation of many similar smart contracts. The rules verifying transactions are therefore duplicated many times. The article introduces the AdapT v2.0 smart contract design pattern. The design pattern employs a distinct configuration for each transaction type, and verification rule objects are shared among configurations. The redundancy of logical conditions was eliminated at two levels. Firstly, it is possible to combine similar smart contracts into one. Secondly, a configuration in a smart contract reuses verification rule objects at runtime. As a result, only one object is instantiated for each verification rule. It allows for the effective use of operating memory by the smart contract. The article presents the implementation of the pattern using object-oriented and functional programming mechanisms. Applying the pattern ensures the self-adaptability of a smart contract to any number of transaction types. The performance tests were carried out for various numbers of verification rules in a smart contract and a different number of checked transactions. The obtained evaluation time of 10,000,000 transactions is less than 0.25 s.

Comparative Analysis of Predictive Models Using Synthetic Data for Financial Fraud Detection

This paper conducts a comparative analysis of predictive models in financial fraud detection using synthetic data. Financial fraud is an adversarial problem that is becoming increasingly common with technological advancement; fraudsters use techniques such as social engineering to lure victims into releasing confidential information for nefarious purposes. One of the types of fraud this research aims to tackle is detecting fraudulent transactions processed on customers' accounts as customers are usually responsible for bearing the costs associated with fraud. The study examines machine learning techniques applied to mitigate fraud in financial transactions under controlled five scenarios which include unusual transaction type, account behaviour profiling, and temporal correlation of transactions, time based velocity checks and 1 hour window analysis. A synthetic dataset comprising 2,549,085 transactions categorized into fraud and non fraud classes (849,695 fraudulent transactions and 1,699,390 non fraudulent transactions) was utilized for analysis. Transaction level features were employed to evaluate the performance of various machine learning classifiers and Deep Learning Algorithms. The classifiers examined include SVM, Decision Trees, Logistic Regression, Gradient Boosting, LSTM, Deep Neural Network, CNN, and Random Forest. Among these, the Random Forest Classifier demonstrates superior performance, achieving an accuracy rate of 99.18%. The evaluation primarily focuses on comparing the performance of classifiers using the confusion matrix as the primary evaluation metric. The findings indicate that the Random Forest Classifier, Decision Trees and Gradient Boosting are suitable classifiers for detecting financial fraud.

POTENSI DAN TANTANGAN MANAJEMEN PEMASARAN SYARIAH DALAM INDUSTRI MARKETPLACE HALAL DI INDONESIA

The advancement of information technology has given rise to various types of online transactions, one of which is marketplace trading. At present, Indonesia is the country with the largest Muslim population in the world, reaching 86.9% of the total population, and they are also active in online shopping. Although awareness and public interest in halal products is increasing, an understanding of the urgency of transactions in accordance with sharia principles is still needed. The purpose of this research is to identify market opportunities as well as existing challenges in order to formulate strategies for developing sharia marketing management in halal marketplaces to be more optimal and in accordance with sharia principles. The research method used in this study is a literature study method. The results show that halal marketplaces in Indonesia have the potential for a large market and are an innovation from previously existing marketplaces. However, in addition to this potential, there are a number of challenges in developing a halal marketplace, including the lack of public understanding of the sharia economy, lack of involvement in the sharia financial system, and the still limited use of the halal marketplace platform by MSMEs focusing on halal products. It is hoped that this potential and challenges can serve as a guide in formulating and developing policies in this field.

Determinants of Net Transactions in TARGET2 of European Banks Based on Micro-data

AbstractThis paper examines German and foreign bank factors that can explain net flows of cross-border central bank liquidity between Germany and the rest of the euro area. Using data from the German component of Eurosystem’s real-time gross settlement system TARGET2 and BankFocus for the period between 2009 and 2021, we provide empirical evidence that only few balance sheet items and profit and loss accounts affect net flows with Germany. We control for bilateral bank-specific relationships and time-varying macroeconomic country effects in our regressions. In general, German bank factors seem to be more important than characteristics of foreign banks. A German bank that exhibits relatively high claims against central banks seems to attract less additional central bank liquidity from abroad than a German bank with fewer existing central bank claims. Net claims against central banks, which also control for liabilities, have no effect on net transactions in TARGET2. However, higher overall liquidity of a German credit institution corresponds to additional net inflows. Foreign bank factors only matter for central bank payments and intragroup payments. We also document heterogeneities across different types of transactions which influence the German TARGET2 balance. While customer payments, interbank payments and central bank payments have increased net flows to Germany in sum, intragroup payments and ancillary systems’ transactions have led to net outflows.

ESG and Emotional Non-conformity of Goods in Contracts for International Sale of Goods

Purpose - It examines the potential applicability of the CISG to contracts involving the sale of goods with significant emotional value. And it addresses the issues on whether the delivery of non-compliant goods with ESG standards can be considered as an aspect of non-conformity under the CISG. Furthermore, it explores whether and how a corporate ESG codes of conduct can be duly incorporated into contract. Design/Methodology – In order to achieve the purposes of the study, it is based on a literature review which is related to the rules under the CISG as to the seller’s delivery of goods associated with emotions derived from the purchase of goods compliant with ESG standards. It mainly focuses on the rules of the CISG as to the incorporation of standard terms and the duty to deliver conforming goods. Findings – The main findings of this study are as follows. First, the view that it could be applicable based on CISG Art. 3(2) cannot be supported because emotions associated with the purchase of goods cannot be separated from the goods and treated as an independent part of the contractual obligations. Second, depending upon a matter of interpretation of contract one must sometimes incorporate minimum ESG standards into contract if the parties should have known or were expected to know in international trade for the type of transaction in question. Third, the aspects of conformity under the CISG include not only the physical conditions of the goods but also non-physical conditions which are related to various aspects of ESG standards. And as the minimum ESG standards increase due to the recent trend of social conscious consumerism, it is unreasonable not to hold the seller liable for the goods manufactured processed in a manner inconsistent with the standards only because they can be resold in a market which may damage fatally the buyer’s commercial reputation. Originality/value – It may offer guidance to both practicing lawyers and business professionals who are considering entering the sales market, particularly those dealing with goods produced or manufactured in accordance with ESG standards. In addition, it may render us an insight to newly developed or developing rules in this area and show us how they interact with each other.

Role of Blockchain Technology in Smart Era: A Review on Possible Smart Applications

By the end of 2021, the worldwide cryptocurrency market valuation had hit a whole high of $3 trillion. Blockchain technology underpins cryptocurrencies such as Bitcoin and Ethereum. The adoption of blockchain, as well as the technology and products it enables, will continue to have a significant influence on company operations. However, blockchain technology is much more than a secure cryptocurrency transfer method. It may be utilised in areas other than finance, including as healthcare, insurance, voting, welfare benefits, gaming and artist royalties. The global economy is prepared for the blockchain revolution, with the technology already having an influence on business and society on many levels. If the term “revolution” seems extreme, consider that eight of the world’s ten largest corporations are developing a variety of blockchain-based solutions. Any enterprise or organisation that is engaged in the recording and oversight of any type of transaction stands to profit from shifting its operations to a blockchain-based platform. This paper discusses about the various roles blockchain has taken up over the years in several different industries along with the future opportunities and scope of expansion to numerous other professional sectors.

Sistem Pembatas Pembelian BBM Menggunakan RFID (Radio Frequency Identification) dan Arduino Uno

The dwindling availability of fuel (fuel oil) in Indonesia, Pertamina is conducting a trial run on limiting purchases of fuel. Payment transactions using a card with RFID (Radio Frequency Identification) technology are one type of non-cash transaction that can be used as an alternative payment method. In this study, we will discuss the use of RFID tags to complete purchases on BBM with a predetermined number of calculations. This tool uses Arduino Uno as its microcontroller to process data received from RFID tags and RFID readers to read the value of the fuel purchase balance, which then the buyer writes down the nominal purchase using the programmed 4x4 keypad by limiting purchases to no more than a predetermined nominal in one day. This tool uses the YF-S401 flow meter sensor to determine the volume of fuel flowing in accordance with the nominal previously inputted, the data will be displayed via a 16x2 LCD in real time using the RTC DS1307 to store month, date and time data stored in the module SD card with all data obtained in measurements.

Panduan Praktis untuk Meningkatkan Kinerja Keuangan UMKM: Implementasi Sistem Akuntansi Microsoft Access pada Lamoela Bar untuk Optimalisasi Laporan Keuangan

The financial management application implemented for Lamoela Bar has brought innovation in the management of micro, small, and medium-sized businesses (MSMEs) in the handicraft industry. With an initial focus on security through a login menu, the app provides restricted access to authorized users. Various app menus, including transaction types, sales, cash transactions, and general ledger, offer easy navigation and business activity recording. The transaction types allow recording of various transaction categories, while the sales menu facilitates efficient product sales recording. The cash transaction menu provides real-time monitoring of cash flow, and the general ledger helps organize transaction records into a ledger. With an intuitive design, this app not only provides efficiency in management but also offers an accurate overview of Lamoela Bar's financial performance. It is expected that the implementation of this app will increase productivity and support sustainable growth for this MSME in the dynamic business world.

Sour cherry seed proteins devoted to covalently bonded carbohydrate moieties: efficacy of transaction and carbohydrate type on amino acid distribution and emulsifier behavior

This paper handled the Maillard reaction under controlled conditions to conjugate sour cherry seed protein isolate (SCPI) with gum Arabic (GA), carboxymethyl cellulose (CMC), and pectin (P) polysaccharides. Characteristic investigations for conjugates were conducted by browning intensity, glycation degree, amino acid, FTIR, SEM, and TGA analyses. After glycation, the level of lysine and arginine declined. Conjugation process displayed beneficial efficacy on techno-functional attributes, namely solubility, water holding capacity, oil holding capacity, foaming capacity/stability and emulsion activity/stability of SCPI but maximum values in terms of these attributes were variable according to conjugate type. Stability index of emulsions stabilized by using conjugates including SCPI-GA (0.87 R), SCPI-CMC (0.94 R), and SCPI-P (0.95 R) was superior than that of SCPI alone (0.60 R). Centrifugal precipitation rate was 59.17, 36.04, 32.61, and 30.92% for emulsions prepared in the presence of SCPI, SCPI-GA, SCPI-CMC, and SCPI-P, respectively. Resilience to freeze-thawed, pH-shifting, various salt concentrations, and different temperature applications of emulsions were investigated to evaluate emulsifier behavior of protein and conjugates in food systems. Findings showed that emulsifying properties of the conjugates prepared using P and CMC came to the fore compared to SCPI alone and SCPI-GA.

“Loss distribution”: the accounting treatment, corporate and tax ramifications, in Brazil

This study describes the accounting treatment and underlying basis of the allocation of losses to partners, not of dividends, but within intra-corporate transactions, according to the IFRS. The study takes into account the fact that there is not always a specific legal requirement for implementation in other countries, as is the case in Brazil, although in the legal literature such treatment is acknowledged internationally. The assumption of accounting loss to a partner's account was originally introduced in the Brazilian Income Tax legislation of 1977. That accounting technique was determined by the Federal Revenue Service. Although Congress was responsible in this period for the accounting discipline, specifically for Corporation Law, they remained silent in this regard. Consequently, the lack of specific legal provisions for corporate accounting standards may have led, in oblique ways, to a small exploration of this topic and its little practical use in the real world. Considering such factors, this research investigates the accounting treatment options currently applicable to this type of transaction in Brazil, under the influence of common law, and various tax and corporate ramifications stemming from its adoption; this paper also aims to publicize possible grounds for propagating the practice, based on the guidelines laid down by the International Accounting Standards Board (IASB). Applying the qualitative research method, it was possible to conclude that the assumption of loss to the partner account is equivalent to a capital contribution, in the form of contributions made by supporting shareholders. For this reason, shareholders record it as investments and the investee company does not record any revenue, although there is an effective equity increase. Due to being a non-onerous act, given the absence of issuance of shares, there is no change in existing equity interests, nor taxation on the agents involved. The allocation of losses to partners is practical in its contractual form, dispensing with the need for share capital to be increased by the partners and later reduced, commonly referred to in European Law as coup d’accordéon and operação harmónio, which simplifies the transaction and corporate records. This work considers the accounting treatment according to the IFRS, while at all times taking into account the legal framework applied to the transaction, locally and according to international corporate literature, with a view to encourage more extensive use and its resultant benefits.

Legal Analysis of Online Foreign Exchange Buying and Selling and Stock Investment Using the Al-Qur'an Interpretation Method

This study aims to find out how the law of buying and selling foreign exchange online and stock investment through the Al-Qur'an detention method. The meaning of foreign exchange or trading is a type of trade or transaction that trades one country's currency against another country's currency (currency pair/pair) which involves the main money markets in the world for 24 hours on an ongoing basis. Stock Investment is the purchase and storage of capital shares in a capital market by investors, both individuals and companies in anticipation of income from dividends and capital gains determining the increased value of these shares. Lately, there have been many fraudulent investment cases under the pretext of buying and selling foreign exchange. This of course attracts the attention of the public to participate in buying and selling foreign exchange which in the end is detrimental to themselves. This study uses a field research method that examines problems or events that occur in society regarding the law of buying and selling foreign exchange or buying and selling shares. This type of research is a case study with a qualitative approach method. From this research, we can find out that if the law of buying and selling foreign exchange online and investing in shares is not in accordance with the Al-Qur'an and Sunnah, it is haram.

Riba and interest in Islamic jurisprudence: seeking the path to consensus

Purpose The purpose of this study is to explain the opinions of the Muslim jurists available in the fiqh books so that they may be compared with the approaches adopted by modern scholars for defining the concept of riba. It is argued that the method of jurists was different from the one adopted by the modern Muslim jurists and Islamic economists. The new method dichotomizes riba into those of the Quran and Sunnah. On the contrary, jurists of four Sunni schools considered the Quran and Sunnah in this regard as a single whole, and they saw Sunnah as the elaboration of riba. By explaining the similarities shared by different fiqh schools, it is explained that there is no need for a definition of riba. Design/methodology/approach The paper uses the method of content analysis. The authors have consulted the authentic fiqh manuals of the four Sunni fiqh schools to substantiate the objectives. Findings One of the major findings of this paper is that interest charged in loan transactions, including bank loans, is riba according to the four Sunni fiqh schools. Moreover, the paper also shows that the similarities among the four Sunni fiqh schools are far more significant than the often-highlighted disagreements among them regarding the concept of riba. The methodology adopted by modern Muslim scholars seems to add confusions around the concept of riba. Research limitations/implications The paper discusses views of only four Sunni fiqh jurists. Originality/value The paper explains the common methodology followed by the jurists for understanding riba, the significant similarities resulting from their common method, the link between the concept of riba and different types of financial transactions within the framework of the jurists and that combining several fiqh schools at a time is a contradiction-ridden methodology.

Assessing the effect of housing attributes and green certification on Malaysian house price

Purpose Sustainability represents innovative elements in determining the profitability of real estate investments, among other factors, including the green component in real estate. Evidence from the literature has pointed out that incorporating green features into residential buildings can reduce operational costs and increase the building’s value. Although green real estate is considered the future trend of choice, it is still being determined whether prospective buyers are willing to accept the extra cost of green residential investment. Therefore, this study aims to investigate the effect of housing attributes and green certification on residential real estate prices. Design/methodology/approach The impact of the housing attribute and green certification in the residential sectors was assessed using a transaction data set comprising approximately 861 residential units sold in Selangor, Malaysia, between 2014 and 2022. Linear and quantile regression were used in this study by using SPSS software for a robust result. Findings The findings indicate that the market price of residential properties in Malaysia is influenced by housing attributes, transaction types and Green Building Index certification. The empirical evidence from this study suggests that green certification significantly affects the sales price of residential properties in Malaysia. The findings of this research will help investors identify measurable factors that affect the transaction prices of green-certified residential real estate. These identifications will facilitate the development of strategic plans aimed at achieving sustainable rates of return in the sustainable residential real estate market. Practical implications Specifically, this research will contribute to achieving area 4 of the 11th Malaysia Plan, which pertains to pursuing green growth for sustainability and resilience. This will be achieved by enhancing awareness among investors and homebuyers regarding the importance of green residential buildings in contributing to the environment, the economy and society. Originality/value The regression model for housing attributes and green certification on house price developed in this study could offer valuable benefits to support and advance Malaysia in realising its medium and long-term goals for green technology.

Analisis Penggunaan Akad Kafalah bi Al Ujrah pada Produk BSI Hasanah Card di Bank BSI–KCP UINSA Surabaya

This research aims to find out how the kafalah contract is used in BSI Hasanah Card products. The research method used is a qualitative method using a descriptive approach. The data sources used are primary data and secondary data. Primary data was obtained through a direct interview process with BSI KCP UINSA Surabaya. Secondary data was obtained from various literary sources such as books, journals, articles and other documents that support discussions related to the research theme. The results of this research show that the BSI Hasanah Card is in accordance with sharia principles. BSI Hasanah Card uses three sharia contracts, namely the kafalah bil ujrah, qard and ijarah contracts. The use of the BSI Hasanah Card places restrictions on its users by not being able to use it for types of transactions that are not in accordance with sharia. This can provide a sense of security and eliminate worry for BSI Hasanah Card users from all forms of transactions that contain elements of gharar and usury and are not in accordance with sharia provisions.

“THE ADVENT OF E-COMMERCE ON REVOLUTIONIZED CONSUMER PURCHASING BEHAVIOR, INTRODUCING NEW TRENDS AND ALTERING TRADITIONAL BUYING PRACTICES.”

E-commerce encompasses a wide range of activities, including online retail, electronic payments, online auctions, digital marketing, and supply chain management. In e-commerce, businesses and consumers can engage in various types of transactions, such as purchasing products, accessing digital content, subscribing to services, or participating in online marketplaces. The development of ecommerce has been enabled by advancements in technology, secure payment systems, and the widespread adoption of the internet and mobile devices. E-commerce provides consumers with access to a vast range of products from various sellers and brands. Consumers can effortlessly compare prices, features, and customer reviews to make informed purchase decisions. E-commerce platforms leverage consumer data to provide personalized experiences. Through practices like personalized product recommendations and targeted marketing messages, businesses can tailor offerings to individual preferences, enhancing customer satisfaction and influencing purchase decisions. The present investigation has been undertaken to describe the scenario of e-commerce, analyze its significance, trends, and challenges. The aim of this study is to understand the importance and challenges of e-commerce and to identify and analyze the factors that can significantly influence e-commerce operations. The current descriptive study intends to gather data through a structured questionnaire from 100 e-commerce users of a Tier-2 district. The collected data will be tabulated, analyzed, and interpreted using a statistical tool. Suitable recommendations are offered that would boost e-commerce success. The suggested strategies would prompt businesses to adapt their tactics to meet changing consumer preferences in the digital age.

Research on the calculation method of indirect carbon emissions of enterprises based on market transaction data

Accurate accounting of indirect carbon emissions from electricity is conducive to motivating market entities to proactively and voluntarily reduce emissions, fairly promoting regional emissions reductions, and accelerating the formation of green and low-carbon consumption models. Based on the analysis of the problems faced by China's power carbon emission accounting, this paper considers different transaction types such as market-based electricity consumption, priority power purchase, and power grid agency power purchase, and proposes an indirect carbon emission accounting method for enterprise power sources based on power transaction data. The effectiveness of the proposed model and method is verified through case calculations for high-energy-consuming enterprises. The method proposed in this article can accurately describe the power consumption structure of enterprises and effectively encourage market entities to proactively and voluntarily reduce emissions.

Bitcoin Address Clustering Based on Change Address Improvement

Change address identification is one of the difficulties in bitcoin address clustering as an emerging social computing problem. Most of the current-related research only applies to certain specific types of transactions and faces the problems of low recognition rate and high false positive rate. We innovatively propose a clustering method based on multiconditional recognition of one-time change addresses and conduct experiments with on-chain bitcoin transaction data. The results show that the proposed method identifies at least 12.3% more one-time change addresses than other heuristics. On top of the multi-input heuristic clustering method, the proposed method also improves the address clustering performance by 5.7%, achieves optimal recognition results compared with similar methods, and significantly reduces the false positive rate of recognition results. This work provides the technical basis for antimoney laundering efforts based on entity identification. Code and data could be accessed from https://github.com/ECNU-Cross-Innovation-Lab/BitcoinAddressClustering.

ANALYSIS OF THE USE OF AKAD KAFALAH BI 'UJRAH ON BSI HASANAH CARD PRODUCTS AT BSI BANK – KCP UINSA SURABAYA

This research aims to find out how the kafalah contract is used in BSI Hasanah Card products. The research method used is a qualitative method using a descriptive approach. The data sources used are primary data and secondary data. Primary data was obtained through a direct interview process with BSI KCP UINSA Surabaya. Secondary data was obtained from various literary sources such as books, journals, articles and other documents that support discussions related to the research theme. The results of this research show that the BSI Hasanah Card is in accordance with sharia principles. BSI Hasanah Card uses three sharia contracts, namely the kafalah bil ujrah, qard and ijarah contracts. The use of the BSI Hasanah Card places restrictions on its users by not being able to use it for types of transactions that are not in accordance with sharia. This can provide a sense of security and eliminate worry for BSI Hasanah Card users from all forms of transactions that contain elements of gharar and usury and are not in accordance with sharia provisions.

개인, 국내 기관, 외국인투자자의 거래유형과 최초공모주의 주가 변동성과의 관계 분석

개인, 국내 기관, 외국인투자자의 거래유형과 최초공모주의 주가 변동성과의 관계 분석