Determining the Utility of Blockchains in Payment System: Empirical Study based on Business Proceedings
DOI:
https://doi.org/10.61841/58rcsv56Keywords:
Payment System, Blockchains,, Blocktech,, FinTechAbstract
This paper will inspect the advantages and expenses of Bitcoin — the first and still the best cryptopayment framework; the advantages and expenses of Ripple — which has endeavored to stretch out the worldview to the interbank cross-fringe clearing space; suggestions for cross-fringe journalist banking; suggestions for local installments; regardless of whether some other (more current) blocktech arrangements offer elective ways to deal with improving expense to profit proportion; lastly, the legitimate viewpoints. The paper does not examine the experimentation directed by national banks in the utilization of blockchain advancements
Downloads
References
1. Ametrano, F. M. (2016) ‘Hayek money: the cryptocurrency price stability solution’, available at: http://dx.doi.org/10.2139/ssrn.2425270, (accessed 26th June, 2017).
2. Assoc. Prof. Dr. Valliappan Raju, Dr. Siew Poh Phung, Dr. Noraini, Exploratory Study on Aviation Sector’s Decision-Making Process Pertaining to Marketing Information System, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28395
3. Assoc. Prof. Dr. Valliappan Raju, Dr. Siew Poh Phung, Prof. Dr. Ramanathan Kalimuthu, Identifying Elements to Implement E-‐Governance: Role of Organizational Readiness, Authority Readiness, Customer Readiness, Competency Readiness and Technology Readiness, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28383
4. Assoc. Prof. Dr. Valliappan Raju, Prof Dr. Md Rom Bin Tamjis, Descriptive Study on Effects of Organizational Communication towards Organizational Citizenship Behaviour, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28384
5. Assoc. Prof. Dr. Valliappan Raju, Prof Dr. Md Rom Bin Tamjis, Role of Technology Management to Enhance Cognitive and Innovative Strategies in an Organization, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28386
6. Chetty, Dr. Valliappan Raju Karuppan, and Dr. Siew Poh Phung. "Economics Behind Education: Elements of Development Outcomes through Political Involvement". Eurasian Journal of Analytical Chemistry 13 no. 6 (2018): emSJAC181129.
7. Chetty, Dr. Valliappan Raju Karuppan, and Dr. Siew Poh Phung. "Economics Behind Education: Elements of Development Outcomes through Political Involvement". Eurasian Journal of Analytical Chemistry 13 no. 6 (2018): emSJAC181129.
8. Coinbase (2017) ‘Coinbase pricing & fees disclosures’, available at: https://support.coinbase. com/customer/portal/articles/2109597-buy-sell-bank-transfer-fees (accessed 24th June, 2017).
9. Coindesk (2016) ‘At $400 million a year, academic argues Bitcoin mining worth the cost’, available at: http://www.coindesk.com/400-million-year-researcher-argues-Bitcoin-mining-worth-cost/ (accessed 24th June, 2017).
10. Deloitte, 2018. Breaking blockchain open. Deloitte’s 2018 global blockchain survey. Available at:
<https://www2.deloitte.com/content/dam/Deloitte/cz/Documents/ financial-services/cz-2018-deloitte global- blockchain-survey.pdf> [Accessed Sept. 2018].
11. Divya, S. (2013). A survey on various security threats and classification of malware attacks, vulnerabilities and detection techniques. International Journal of Computer Science & Applications (TIJCSA), 2(04).
12. Divya, S., & Padmavathi, G. (2014). A novel method for detection of internet worm malcodes using principal component analysis and multiclass support vector machine. International Journal of Security and Its Applications, 8(5), 391-402.
13. Divya, S., & Padmavathi, G. (2014). Computer Network Worms Propagation and its Defence Mechanisms: A Survey. In Proc. of Int. Conf. on Advances in Communication, Network, and Computing, CNC, Chennai, India (pp. 643-652).
14. Divya, S., & Padmavathi, G. (2016). Malicious Traffic Detection and Containment based on Connection Attempt Failures using Kernelized ELM with Automated Worm Containment Algorithm. Indian Journal of Science and Technology, 9, 41.
15. Divya, S., & Padmavathib, G. (2014). Internet Worm Detection based on Traffic Behavior Monitoring with Improved C4. 5. Proceedings of International Conference on Cryptography and Security (pp. 48-56).
16. Dr. Valliappan Raju Karuppan Chetty , Phung, Dr. Siew Poh, "Conceptualizing the Application for Ethereum Blockchains: Front End Application Development". Eurasian Journal of Analytical Chemistry 13 no. 6 (2018): emEJAC181124.
17. Dr. Valliappan Raju Karuppan Chetty , Phung, Dr. Siew Poh, "Conceptualizing the Application for Ethereum Blockchains: Front End Application Development". Eurasian Journal of Analytical Chemistry 13 no. 6 (2018): emEJAC181124.
18. Farooq, M. & Raju, V. Glob J Flex Syst Manag (2019) 20: 177. https://doi.org/10.1007/s40171-019-00209-6
19. Gelvez, M. (2016) ‘Explaining the DAO exploit for beginners in solidity’, available at: https://medium.com/@MyPaoG/explaining-the-dao-exploit-for-beginners-in-solidity-80ee84f0d470 (accessed 26th June, 2017).
20. Geva, B. (2016) ‘Disintermediating electronic payments: digital and virtual currencies’, Journal of International Banking Law and Regulation, Vol. 31, No. 12, pp. 661–674.
21. GSMA, 2018. DLT, Blockchains and Identity 2018 report. Available at: Hackius, N., Petersen, M., 2017. Blockchain in Logistics and Supply Chain: Trick or Treat? DOI: 10.15480/882.1444. Available at: <https://www.researchgate.net/ publication/ 3187246
55_Blockchain_in_Logistics_and_Supply_Chain_Trick_or_Treat> [Accessed Sept. 2018]. Iansiti, M., Lakhani, K.R., 2017. The Truth About Blockchain. Harvard Business Review
22. IBRD - World Bank, 2017. Distributed Ledger Technology (DLT) and Blockchain. Available at:
<http://documents.worldbank.org/curated/en/177911513714062215/pdf/122140-WP-PUBLIC-Distributed Ledger-Technology-and-Blockchain-Fintech-Notes.pdf> [Accessed Sept. 2018].
23. K. Asish Vardhan1, N.Thirupathi Rao, S. Naga Mallik Raj, G.Sudeepthi, Divya, Debnath Bhattacharyya, Tai- Hoon Kim.(2019). Health Advisory System using IoT Technology. International Journal of Recent Technology and Engineering (IJRTE). 7(6).
24. Key, K. (2016) ‘Bitfinex bail-in versus central bank bailouts’, available at: https://news.Bitcoin.com/ bitfinex- bail-in-central-bank-bailouts/ (accessed 24th June, 2017).
25. Kholiqov, F., Ramzani, S., & Raju, V. (2017). Effect of Comparative Study of Payment System between Malaysia and Republic of Tajikistan. Journal Of Accounting And Finance In Emerging Economies, 3(2), 131-
136. doi:10.26710/jafee.v3i2.88
26. Law Society’s Research Unit, 2017. Horizon Scanning: Blockchain-The Legal Implications of Distributed Systems. Available at: <https://www.lawsociety.org.uk/support-services/ documents/blockchain-legal implications-law-society-horizon-report/> [Accessed Sept. 2018].
27. Leising, M. (2017) ‘The ether thief’, available at: https://www.bloomberg.com/features/2017-the-ether-thief/ (accessed 26th June, 2017).
28. M. Divya. (2016). An Efficient and Secure Detection of Internet Worm Using Propagation Model. International Journal of Innovations In Scientific And Engineering Research 3(1) : 8-15.
29. Mahdi, H.M., Maaruf, A., 2018. Applications of Blockchain Technology beyond Cryptocurrency. Annals
30. Midhunchakkaravarthy, D., Bhattacharyya, D., & Kim, T. H. (2018). Evaluation of Product Usability using Improved FP-Growth Frequent Itemset Algorithm and DSLC–FOA Algorithm for Alleviating Feature Fatigue. International Journal of Advanced Science and Technology,117:163-180.
31. Midhunchakkaravarthy, J., & Brunda, S. S. (2012). An Enchanced Web Mining Approach for Product Usability Evaluation in Feature Fatigue Analysis using LDA Model Association Rule Mining with Fruit Fly Algorithm. Indian Journal of Science & Technology, 9(8)
32. Midhunchakkaravarthy, J., & Brunda, S. S. A novel approach for feature fatigue analysis using HMM stemming and adaptive invasive weed optimisation with hybrid firework optimisation method. International Journal of Computer Aided Engineering and Technology 11(4).
33. Midhunchakkaravarthy, J., & SelvaBrunda, S. (2017). Feature fatigue analysis of product usability using Hybrid ant colony optimization with artificial bee colony approach. The Journal of Supercomputing, 1-18.
34. N. Thirupathi Rao, Debnath Bhattacharyya, Midhunchakkaravarthy and Tai-Hoon Kim. (2019). Steady State Analysis of M/G/1 and M/Er/1 Line Models with MATLAB Environment in Cloud Computing Applications. Journal of Engineering and Applied Sciences, 14: 2016-2021
35. Nakamoto, S., 2008. Bitcoin: A Peer-to-Peer Electronic Cash System.
36. National University of Singapore, Lee Kuan Yew School, 2018. Technology brief: Blockchain –
37. Niederkorn, M., Bruno, P., Istace, F. and Bansal, S. (2016) ‘Digital transformation of correspondent banking, global payments 2016: strong fundamentals despite uncertain times’, available at: https://www. smefinanceforum.org/sites/default/files/post/files/ McKinsey_Global_Payments_Report_2016.pdf (accessed 24th June, 2017).
38. OECD, 2018. Blockchain Technology and Corporate Governance Technology, Markets, Regulation and Corporate Governance. DAF/CA/CG/RD(2018)1/REV1. Risks and Opportunities. Available at:
<https://lkyspp.nus.edu.sg> [Accessed Sept. 2018].
39. of Emerging Technologies in Computing (AETiC), ISSN: 2516-0281, Vol. 2, No. 1, 1st January 2018, pp. 16, (IAER). Available at: <http://aetic.theiaer.org/archive/v2n1/p1.pdf> [Accessed Sept. 2018].
40. Raju, Dr. Valliappan, and Dr. Amiya Bhaumik. "Relevance of Staff Engagement & Leadership towards Organizational Development: In the Context of Indian Banking Industry". Eurasian Journal of Analytical Chemistry 13 no. 6 (2018): emEJAC181160.
41. Raju, Dr. Valliappan, and Dr. Amiya Bhaumik. "Understanding the Role of Indian Banks – In Persective to Staff Engagement & Leadership". Eurasian Journal of Analytical Chemistry 13 no. 6 (2018): emEJAC181159.
42. Raju, Dr. Valliappan, and Dr. Amiya Bhaumik. "Understanding the Role of Indian Banks – In Persective to Staff Engagement & Leadership". Eurasian Journal of Analytical Chemistry 13 no. 6 (2018): emEJAC181159.
43. Raju, Dr. Valliappan. "Theory of Lim Law: Leadership Style". Eurasian Journal of Analytical Chemistry 13 no. 6 (2018): emEJAC181127.
44. Raju, Dr. Valliappan. "Theory of Lim Law: Leadership Style". Eurasian Journal of Analytical Chemistry 13 no. 6 (2018): emEJAC181127.
45. Ripple (2016) ‘The cost-cutting case for banks, The ROI of using Ripple and XRP for global interbank settlements’, available at: https://ripple.com/files/ xrp_cost_model_paper.pdf (accessed 24th June, 2017).
46. S Divya, LS Sindhuja, G Padmavathi. (2013). An appraisal of Artificial Immune System. International Journal of Advanced Networking and Applications. 4(4), 35-38.
47. See eg Chapman, J., Garratt, R., Hendry, S., McCormack, A., McMahon, W. (2017) ‘Project Jasper: are distributed wholesale payment systems feasible yet?’, available at: http://www.bankofcanada. ca/wp- content/uploads/2017/05/fsr-june-2017-chapman.pdf (accessed 24th June, 2017).
48. Selvaraj, D., & Ganapathi, P. (2014). Packet payload monitoring for internet worm content detection using deterministic finite automaton with delayed dictionary compression. Journal of Computer Networks and Communications, 2014.
49. Tepper, F. (2017) ‘Coinbase is reimbursing losses caused by the Ethereum flash crash’, https:// techcrunch.com/2017/06/24/coinbase-is-reimbursing-losses-caused-by-the-ethereum-flash-crash/ (accessed 26th June, 2017).
50. Treacher, M. (2016) ‘Announcing Ripple’s global payments steering group’, available at: https://ripple. com/insights/announcing-ripples-global-payments-steering-group/ (accessed 24th June, 2017).
51. Valliappan Raju, Anggoro, Bambang, Burhanuddin Halimi, Siagian P.H., Junaidy Burhan, Tamjis M.R, Abu Bakar M, "Waste Power Generation Analysis Using Landfill Gas". Eurasian Journal of Analytical Chemistry 13 no. 6 (2018): emEJAC181148.
52. Valliappan Raju, Anggoro, Bambang, Burhanuddin Halimi, Siagian P.H., Junaidy Burhan, Tamjis M.R, Abu Bakar M, "Waste Power Generation Analysis Using Landfill Gas". Eurasian Journal of Analytical Chemistry 13 no. 6 (2018): emEJAC181148.
53. Valliappan Raju, Dr. Siew Poh Phung, Dr. Noraini, Exploratory Study on Aviation Sector’s Decision-Making Process Pertaining to Marketing Information System, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28395
54. Valliappan Raju, Dr. Siew Poh Phung, Dr. Sivashankar, Factors Determining Malaysian Smes Performance in Knowledge Management, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28396
55. Valliappan Raju, Dr. Siew Poh Phung, Insights on Intellectual Property Rights: Determination of Strategic Managment Strategies, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28397
56. Valliappan Raju, Dr. Siew Poh Phung, Prof. Dr. Ramanathan Kalimuthu, Identifying Elements to Implement E-‐Governance: Role of Organizational Readiness, Authority Readiness, Customer Readiness, Competency Readiness and Technology Readiness, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28383
57. Valliappan Raju, Dr. Siew Poh Phung, Prof. Dr. Ramanathan Kalimuthu, Identifying Elements to Implement E-‐Governance: Role of Organizational Readiness, Authority Readiness, Customer Readiness, Competency Readiness and Technology Readiness, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28383
58. Valliappan Raju, Prof Dr. Md Rom Bin Tamjis, Descriptive Study on Effects of Organizational Communication towards Organizational Citizenship Behaviour, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28384
59. Valliappan Raju, Prof Dr. Md Rom Bin Tamjis, Role of Sustainability in Marketing Strategies: In the Context of Digital and Direct Marketing, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28012
60. Valliappan Raju, Prof Dr. Md Rom Bin Tamjis, Role of Technology Management to Enhance Cognitive and Innovative Strategies in an Organization, International Journal of Engineering and Technology, Vol 8, No 1.10 (2019), DOI: 10.14419/ijet.v8i1.10.28386
61. Vias, M. (2017) ‘Ripple consensus ledger can sustain 1000 transactions per second’, available at: https:// ripple.com/insights/ripple-consensus-ledger-can-sustain-1000-transactions-per-second-2/ (accessed 24th June, 2017).
62. Voorhees, E. (2017) ‘The true cost of Bitcoin transactions’, available at: http://moneyandstate.com/ the-true- cost-of-Bitcoin-transactions/ (accessed 24th June, 2017).
63. Wikipedia (n.d.) ‘Charlie Shrem’, available at: https://en.wikipedia.org/wiki/Charlie_Shrem (accessed 24th June, 2017).
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
You are free to:
- Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
Notices:
You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation .
No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.
