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on Payment Systems and Financial Technology |
|
Issue of 2024‒01‒22
twenty-six papers chosen by |
| By: | Chaimae Hmimnat (FEG, UIT - Faculté d’Economie et de Gestion, Université Ibn Tofail, Kénitra); Mounir El Bakouchi (FEG, UIT - Faculté d’Economie et de Gestion, Université Ibn Tofail, Kénitra) |
| Abstract: | The study explains how blockchain and cryptocurrency are transforming the Moroccan financial landscape. It tries to comprehend how these developing technologies, with their promises of decentralization and increased efficiency, may shape Morocco's future financial stability. The article begins by introducing the reader to the fundamental ideas of blockchain and cryptocurrency. A thorough literature analysis recounts past and contemporary studies on the subject, providing a context against which Moroccan progress is judged. Morocco's approach to blockchain and cryptocurrencies has been cautious yet forward-thinking. While these technologies offer prospects for increased transparency, diversification of financial assets, and transactional efficiency, they also create problems. Notably, the volatile nature of bitcoin prices, along with a nascent regulatory structure, poses serious challenges to financial stability. The paper reveals significant gaps in current research, specifically the scarcity of studies contextualized within Morocco's distinct socioeconomic setting. These deficiencies provide a direction for future academic and policy-oriented research. To fully realize the potential of blockchain and cryptocurrencies in Morocco, a balanced strategy is required-one that actively supports innovation while remaining within a regulated legal framework. The realities of such a strategy are investigated, providing policymakers and industry stakeholders with actionable insights. This study is one of the first to look into the complexities of blockchain and cryptocurrencies in Morocco, filling a critical knowledge gap. While many studies investigate these technologies on a worldwide basis, this study takes a different approach, concentrating on their consequences within Morocco's distinct socioeconomic fabric.The findings are valuable to both academics and practitioners, providing a road map for navigating Morocco's young but developing crypto-financial sector. |
| Keywords: | Blockchain, Cryptocurrency, Financial Stability, Moroccan financial ecosystem |
| Date: | 2023–11–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04347223&r=pay |
| By: | Asenjo Cruz, Antonia,; Coddou, Alberto,; Dhir, Rishabh Kumar, |
| Abstract: | This paper examines the experiences of delivery workers on digital labor platforms in Chile and analyses the implications of the platform business model. It highlights challenges in working conditions and algorithmic management practices, which are crucial to address for ensuring decent work, as Chile moves towards implementing a new law to regulate platform work. |
| Keywords: | digital economy, online labour platforms, delivery |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ilo:ilowps:995330788402676&r=pay |
| By: | Stefano de Marco (CIALE - University of Salamanca); Guillaume Dumont (EM - emlyon business school); Ellen Johanna Helsper (LSE - London School of Economics and Political Science); Alejandro Díaz-Guerra (UCM - Universidad Complutense de Madrid = Complutense University of Madrid [Madrid]); Mirko Antino (UCM - Universidad Complutense de Madrid = Complutense University of Madrid [Madrid]); Alfredo Rodríguez-Muñoz (UCM - Universidad Complutense de Madrid = Complutense University of Madrid [Madrid]); José-Luis Martínez-Cantos (UCM - Universidad Complutense de Madrid = Complutense University of Madrid [Madrid]) |
| Abstract: | "This article examines how inequalities in digital skills shape the outcomes of online job‐seeking processes. Building on a representative survey of Spanish job seekers, we show that people with high digital skill levels have a greater probability of securing a job online, because of their ability to create a coherent profile and make their application visible. Additionally, it is less probable that they will experience burnout during this process than job seekers with low digital skill levels. Given the concentration of digital skills amongst people with high levels of material and digital resources, we conclude that the internet enforces existing material and health inequalities." |
| Keywords: | Social inclusion, Digital inequalities, Employement platforms, Digital skills, Online job-search skills |
| Date: | 2023–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04348219&r=pay |
| By: | Srichander Ramaswamy (The South East Asian Central Banks (SEACEN) Research and Training Centre) |
| Abstract: | One of the challenges of issuing a central bank digital currency (CBDC) is its potential to disintermediate banks through deposit substitution. To avoid this outcome, much of the research on CBDC is focused on whether and what limits to set on CBDC holdings, and if CBDC accounts should be paid interest. But the issuance of CBDC can also generate significant fiscal revenue through central bank balance sheet expansion if they are funded by unremunerated CBDC liabilities. This can lead to a criticism of central bank policies and can potentially compromise its independence. Taking the view that a significant share of unremunerated bank demand deposits can migrate to retail CBDC account if there are no restrictions on the holding amounts, this paper raises and provides some indicative answers to a number of policy questions that arise in this setup. These include the following: Will the commercial bank’s money creation process et disrupted? How will it impact the efficient transmission of monetary policy? What role can central banks play to ensure that the demand for credit in the economy is met at reasonable price terms? Will non-bank actors be able to offer better terms and conditions for loans than banks in the changed intermediation landscape brought about by CBDC? What levers will central banks have to control non-bank actors so that they do not amplify procyclical lending behaviour? Will the remit of central banks need to broaden in scope and reach? We will explore the options and alternatives that might emerge while highlighting what the challenges might be. |
| Keywords: | Central banks, digital currency, financial stability, monetary policy, bank intermediation, non-banks, collateral. |
| JEL: | E42 E51 E52 G21 G23 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:sea:wpaper:wp52&r=pay |
| By: | Andrea Coveri; Claudio Cozza; Dario Guarascio |
| Abstract: | This work analyzes the mutual dependence linking digital platforms, i.e., 'Big Tech', and the military apparatus. Three main elements are at the roots of such dependence: an 'originary linkage' binding the development of digital platforms with governments' R&D military efforts, the critical nature of infrastructures and technologies controlled by platforms, and their role as their government's 'eyes and ears' (both at home and abroad). Focusing on the US, we first document the growing relevance of these corporations as Department of Defence contractors. Second, we explore a selection of multi-year contracts entrusting platforms to develop and manage critical technologies and infrastructures for military purposes. Finally, we document the direct involvement of major US-based platforms in war scenarios. |
| Keywords: | Monopoly capital; imperialism; war; nation-states; digital platforms; military industry |
| Date: | 2023–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2023/47&r=pay |
| By: | Ologunebi, John |
| Abstract: | In response to the evolving digital landscape, this report unveils a strategic marketing approach to enhance the usability of Asda's website for the influential Gen Z and Millennial demographics. Rooted in qualitative research, the study employs interview questions as a powerful data gathering tool to discern the distinctive preferences, expectations, and challenges faced by these tech-savvy consumers in their online interactions with Asda's platform. The research methodology involves a systematic deployment of interview questions designed to elicit nuanced insights into user behaviors, digital expectations, and satisfaction levels. Through direct engagement with members of the target audience, the study captures qualitative data that goes beyond conventional quantitative metrics, providing a deeper understanding of the multifaceted factors influencing website usability. Findings from the interviews serve as the cornerstone for a bespoke marketing strategy, addressing identified pain points and capitalizing on expressed preferences. The proposed strategy encompasses user-centric design enhancements, personalized content delivery mechanisms, and innovative technological integrations to create a more seamless and engaging online experience. This article emphasizes the integration of interview-based insights as a qualitative lens to complement quantitative metrics, enriching the overall analysis. The research contributes to a more holistic comprehension of the digital landscape, acknowledging the significance of direct engagement with consumers for effective marketing strategy formulation. As the retail sector undergoes digital transformation, the article concludes with actionable recommendations derived from the interview findings. By prioritizing user-centric design principles informed by direct consumer insights, this marketing strategy not only seeks to optimize Asda's website usability but also aims to establish enduring connections with the discerning Gen Z and Millennial consumer base, thereby positioning Asda for sustained success in the competitive online retail landscape. |
| Keywords: | Marketing strategy, Gen Z & Millennials, Website Usability, Website optimization, Digital engagement, Online shopping, Retail, User experience, Consumer preferences, Customer satisfaction, Digital transformation |
| JEL: | M0 M3 M30 M31 M37 M39 |
| Date: | 2023–12–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119417&r=pay |
| By: | Sharvari Patil (Department of Agri Business Management, MIMA Institute of Management, Pune, Maharashtra, India); Nikhil Aklade (Department of Agri Business Management, MIMA Institute of Management, Pune, Maharashtra, India); Ashish Ashok Uikey (Symbiosis International University) |
| Abstract: | The agricultural sector, especially in the realm of vegetable supply chains, has undergone a substantial transformation through the integration of digital tools. This review paper investigates the profound impact of cutting-edge technologies on agriculture, focusing on their implementation within the vegetable value chain. It covers in-depth analyses of various technological advancements such as big data analytics, RFID tags, IoT devices, blockchain technology, and artificial intelligence. The exploration includes a detailed examination of Ninjacart, a leading agricultural technology platform, as a case study exemplifying the practical application of these technologies. These innovations have revolutionized inventory management, ranging from predictive analytics for crop yield estimation to the utilization of RFID tags for real-time tracking. IoT devices have played a pivotal role in monitoring crop health and optimizing resource allocation, while blockchain technology ensures transparency and reliability in the supply chain. Moreover, AI-powered solutions have efficiently organized transportation routes and addressed complexities within the supply chain, significantly reducing food wastage. This paper provides a comprehensive analysis of how digital technologies have reshaped the vegetable value chain, using the Ninjacart case study to highlight the tangible impact and practical implications of these advancements in real-world scenarios. |
| Keywords: | Value Chain, Vegetable Supply Chain, Big Data, Block Chain, IoT, RFID |
| Date: | 2023–12–14 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04346189&r=pay |
| By: | Hugo Thimonier; Fabrice Popineau; Arpad Rimmel; Bich-Li\^en Doan; Fabrice Daniel |
| Abstract: | This study explores the application of anomaly detection (AD) methods in imbalanced learning tasks, focusing on fraud detection using real online credit card payment data. We assess the performance of several recent AD methods and compare their effectiveness against standard supervised learning methods. Offering evidence of distribution shift within our dataset, we analyze its impact on the tested models' performances. Our findings reveal that LightGBM exhibits significantly superior performance across all evaluated metrics but suffers more from distribution shifts than AD methods. Furthermore, our investigation reveals that LightGBM also captures the majority of frauds detected by AD methods. This observation challenges the potential benefits of ensemble methods to combine supervised, and AD approaches to enhance performance. In summary, this research provides practical insights into the utility of these techniques in real-world scenarios, showing LightGBM's superiority in fraud detection while highlighting challenges related to distribution shifts. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.13896&r=pay |
| By: | G. Pino; M. Nieto Garcia; A. Peluso; G. Viglia; R. Filieri (Audencia Business School) |
| Abstract: | Peer-to-peer (P2P) rental service platforms-i.e., platforms where owners of private possessions (e.g., houses) lend them to other people-often deliver appeals that encourage platform users to contribute to prosocial causes (e.g., through charitable donations). Although many users are skeptical about such appeals, this research argues that exposing users to "virtuous" lenders-i.e., lenders who convey ethicality and unselfishness through their profile descriptions-elicits positive reactions to the above-mentioned appeals. Three experimental studies demonstrate that this occurs because users' perception of a lender's virtuousness extends to the platform and facilitates a belief that it is genuinely committed to prosocial causes. This perception, in turn, enhances users' willingness to engage in charitable giving. However, the beneficial effect of virtuous lenders vanishes when users exhibit high moral disengagement. P2P platforms are, therefore, advised to rely on virtuous lenders and strengthen users' moral principles to increase the persuasiveness of their prosocial appeals. |
| Abstract: | Peer-to-peer (P2P) rental service platforms—i.e., platforms where owners of private possessions (e.g., houses) lend them to other people—often deliver appeals that encourage platform users to contribute to prosocial causes (e.g., through charitable donations). Although many users are skeptical about such appeals, this research argues that exposing users to "virtuous" lenders—i.e., lenders who convey ethicality and unselfishness through their profile descriptions—elicits positive reactions to the above-mentioned appeals. Three experimental studies demonstrate that this occurs because users' perception of a lender's virtuousness extends to the platform and facilitates a belief that it is genuinely committed to prosocial causes. This perception, in turn, enhances users' willingness to engage in charitable giving. However, the beneficial effect of virtuous lenders vanishes when users exhibit high moral disengagement. P2P platforms are, therefore, advised to rely on virtuous lenders and strengthen users' moral principles to increase the persuasiveness of their prosocial appeals. |
| Keywords: | Peer-to-peer platforms prosocial behavior donation efficacy charitable giving virtuous lenders, Peer-to-peer platforms, prosocial behavior, donation efficacy, charitable giving, virtuous lenders, Prosocial behavior, Donation efficacy, Charitable giving, Virtuous lenders |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04248928&r=pay |
| By: | Haoyu Liu; Kim Hua Tan; Ajay Kumar (EM - emlyon business school); Sanjay Kumar Singh; Leanne Chung |
| Abstract: | "As a primarily synchronous social media form, social live streaming services offer real-time interaction between streamers and viewers, and among viewers. Users' value cocreation has become increasingly crucial for platform businesses to increase their competitive advantage. However, the previous studies using the microfoundations approach have only confirmed the employees' efforts to adopt technology as a way to achieve the firms' goals. In this article, we explore the microfoundations of external actors' (viewers and streamers) value cocreation on sports live streaming platforms (SLSPs). Taking China Sport as a case study, this article conducts netnography research with observations made of four live-streamed matches on the final matchday of the International Table Tennis Federation World Tour Grand Final 2019. In total, 16 204 real-time messages and 5540 gifting messages are reviewed. In-depth interviews are also conducted with 5 streamers and 15 viewers. As a result, a typology of viewers (managers, fans, and audiences) emerges, and five viewer–streamer–viewer value cocreation activities are revealed. Furthermore, the unique value-in-use among streamers and viewers in different activities is found. This study presents a model to show that the viewers' engagement and the value cocreation activities between viewers and streamers at a microlevel determines the value-in-use formation, which, in turn, contributes to the competitive advantages for SLSPs at a macrolevel. This study contributes to the existing literature on the engagement behavior and value cocreation by empirically examining the role of external actors' engagement as the microfoundations of value cocreation in the context of new social technologies—SLSPs." |
| Keywords: | service-dominant logic, microfoundations of value co-creation, sports live stream platforms, competitive advantages, sports viewing behaviour |
| Date: | 2022–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04325652&r=pay |
| By: | Ana Fern\'andez Vilas; Rebeca D\'iaz Redondo; Ant\'on Lorenzo Garc\'ia |
| Abstract: | There is a consensus about the good sensing characteristics of Twitter to mine and uncover knowledge in financial markets, being considered a relevant feeder for taking decisions about buying or holding stock shares and even for detecting stock manipulation. Although Twitter hashtags allow to aggregate topic-related content, a specific mechanism for financial information also exists: Cashtag. However, the irruption of cryptocurrencies has resulted in a significant degradation on the cashtag-based aggregation of posts. Unfortunately, Twitter' users may use homonym tickers to refer to cryptocurrencies and to companies in stock markets, which means that filtering by cashtag may result on both posts referring to stock companies and cryptocurrencies. This research proposes automated classifiers to distinguish conflicting cashtags and, so, their container tweets by analyzing the distinctive features of tweets referring to stock companies and cryptocurrencies. As experiment, this paper analyses the interference between cryptocurrencies and company tickers in the London Stock Exchange (LSE), specifically, companies in the main and alternative market indices FTSE-100 and AIM-100. Heuristic-based as well as supervised classifiers are proposed and their advantages and drawbacks, including their ability to self-adapt to Twitter usage changes, are discussed. The experiment confirms a significant distortion in collected data when colliding or homonym cashtags exist, i.e., the same \$ acronym to refer to company tickers and cryptocurrencies. According to our results, the distinctive features of posts including cryptocurrencies or company tickers support accurate classification of colliding tweets (homonym cashtags) and Independent Models, as the most detached classifiers from training data, have the potential to be trans-applicability (in different stock markets) while retaining performance. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.11531&r=pay |
| By: | Diego Rinallo (EM - emlyon business school); Maria Carolina Zanette; Laetitia Mimoun; Francesco Bravin; Riccardo Massara; Cristina Resa; Marta Villa |
| Abstract: | Le streghe godono di una popolarità senza precedenti. Nelle fiction, le streghe cattive e monodimensionali di una volta hanno ceduto il passo a personaggi complessi, accattivanti, con cui è facile immedesimarsi. Sono numerose le persone di ambo i sessi che oggi si definiscono witch, strega, bruja, sorcière. Sui social media si trovano, discutono, si scambiano incantesimi, organizzano rituali collettivi online, e a volte si organizzano per incontrarsi dal vivo. Simbolo di potere femminile ai margini della società, quella della strega è una figura che risuona nella cultura di oggi, in grado di influenzare la politica femminista, le religioni e spiritualità neopagane, le pratiche esoteriche, il mondo dell'entertainment, e più di recente la società dei consumi. In questo intervento, basato su una ricerca in corso sulle streghe online di diversi paesi europei, ricostruiamo l'evoluzione della figura della strega identificando i diversi elementi che permettono oggi a numerose persone di identificarsi come tali. Mettiamo inoltre in luce l'esistenza di tipi diversi di streghe e gli usi che fanno dei social media: apprendimento e scambio di conoscenze magiche; protesta politica in chiave femminista, lesbica, gay, transessuale, queer e spesso anticapitalista; ricerca di forme di comunità (online ma anche dal vivo); e la promozione di sé e dei propri prodotti/servizi. |
| Keywords: | Social media, witches, feminism, spirituality, consumer culture |
| Date: | 2022–04–22 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04325550&r=pay |
| By: | Yijun Li; Cheuk Hang Leung; Xiangqian Sun; Chaoqun Wang; Yiyan Huang; Xing Yan; Qi Wu; Dongdong Wang; Zhixiang Huang |
| Abstract: | Consumer credit services offered by e-commerce platforms provide customers with convenient loan access during shopping and have the potential to stimulate sales. To understand the causal impact of credit lines on spending, previous studies have employed causal estimators, based on direct regression (DR), inverse propensity weighting (IPW), and double machine learning (DML) to estimate the treatment effect. However, these estimators do not consider the notion that an individual's spending can be understood and represented as a distribution, which captures the range and pattern of amounts spent across different orders. By disregarding the outcome as a distribution, valuable insights embedded within the outcome distribution might be overlooked. This paper develops a distribution-valued estimator framework that extends existing real-valued DR-, IPW-, and DML-based estimators to distribution-valued estimators within Rubin's causal framework. We establish their consistency and apply them to a real dataset from a large e-commerce platform. Our findings reveal that credit lines positively influence spending across all quantiles; however, as credit lines increase, consumers allocate more to luxuries (higher quantiles) than necessities (lower quantiles). |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.10388&r=pay |
| By: | Soledad Giardili; Sanjay Jain; Amalia R. Miller; Kamalini Ramdas; Alp Sungu |
| Abstract: | We present the first objective evidence on how COVID-19 lockdowns affected internet browser usage in Africa, using detailed digital trace data on PC-based and mobile-based browsing patterns of 316 Kenyans who had access to a PC, covering the period before and during Kenya’s first national COVID-19 curfew that was declared on March 25, 2020. We find that total daily browser usage increased by 41 minutes, or 15 percent of average browsing time, after the curfew started. We find no significant differences in total browsing time during the curfew by gender or by residence in high-speed vs. low-speed broadband access areas. However, we do find gender differences in the content of browsing. Women’s time on YouTube and Netflix exceeded men’s from the start of our sample period, and the gender gap in Netflix browsing increased by 36 minutes daily, corresponding to almost twice the average daily Netflix time in the sample. Men’s browsing became less concentrated during the curfew, across both domains and topics, but women’s did not. The degree of overlap in browsing between men and women also increased, likely due to men visiting sites that were previously exclusively visited by women. Across the entire sample, browsing of Kenyan domains dropped significantly relative to that of non-Kenyan domains, indicating greater reliance on international content during this period of economic and social upheaval. |
| JEL: | D12 L11 L86 O18 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31997&r=pay |
| By: | Richeng Piao |
| Abstract: | This study investigates the implications of algorithmic pricing in digital marketplaces, focusing on Airbnb's pricing dynamics. With the advent of Airbnb's new pricing tool, this research explores how digital tools influence hosts' pricing strategies, potentially leading to market dynamics that straddle the line between efficiency and collusion. Utilizing a Regression Discontinuity Design (RDD) and Propensity Score Matching (PSM), the study examines the causal effects of the pricing tool on pricing behavior among hosts with different operational strategies. The findings aim to provide insights into the evolving landscape of digital economies, examining the balance between competitive market practices and the risk of tacit collusion facilitated by algorithmic pricing. This study contributes to the discourse on digital market regulation, offering a nuanced understanding of the implications of AI-driven tools in market dynamics and antitrust analysis. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.05633&r=pay |
| By: | Giulio Caldarelli |
| Abstract: | Given the rising interest in the circular economy and blockchain hype, numerous integrations were proposed. However, studies on the practical feasibility were scarce, and the assumptions of blockchain potential in the circular economy were rarely questioned. With the help of eleven of the most prominent blockchain experts, the present study critically analyzed technology integration in many areas of the circular economy to forecast their possible outcomes. Delphi's technique is leveraged to reach a consensus among experts' visions and opinions. Results support the view that some circular economy integrations are unlikely to succeed, while others if specific conditions are met, may prove to be successful in the long run. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.13774&r=pay |
| By: | Martina Pocchiari; Jason M.T. Roos |
| Abstract: | As social and business activities undergo significant digital transformation, the allure of digitized versus traditional in-person events remains a critical question. This study quantifies the heterogeneous effect of digitization on community participation across communities catering to different interests, such as business, technology, and socialization. Leveraging comprehensive panel data from a leading community-building platform, our analyses reveal that prospective participation in digitized events is lower compared to their in-person counterparts. However, this overarching effect masks a more complex reality. We uncover significant heterogeneity in participation intentions, with outcomes closely tied to specific event characteristics and interest topics. For example, prospective engagement in digitized networking meetings varies substantially depending on whether the meetings are business- or leisure-oriented. Similarly, the context in which goal-oriented meetings occur plays a decisive role: prospective participation in digitized events decreases by 2.95% for writing clubs, but increases by 2.72% for language clubs. These findings suggest that approaches to community-building through digitization must be tailored to the unique attributes of the community and its events. A one-size-fits-all strategy to digital transformation may fall short of fostering meaningful engagement. As the digital landscape evolves, our research offers quantitative benchmarks and managerial guidelines for community engagement in the digital age. |
| JEL: | M31 M10 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10841&r=pay |
| By: | Niclas Boehmer; Markus Brill; Alfonso Cevallos; Jonas Gehrlein; Luis S\'anchez-Fern\'andez; Ulrike Schmidt-Kraepelin |
| Abstract: | We provide the first large-scale data collection of real-world approval-based committee elections. These elections have been conducted on the Polkadot blockchain as part of their Nominated Proof-of-Stake mechanism and contain around one thousand candidates and tens of thousands of (weighted) voters each. We conduct an in-depth study of application-relevant questions, including a quantitative and qualitative analysis of the outcomes returned by different voting rules. Besides considering proportionality measures that are standard in the multiwinner voting literature, we pay particular attention to less-studied measures of overrepresentation, as these are closely related to the security of the Polkadot network. We also analyze how different design decisions such as the committee size affect the examined measures. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.11408&r=pay |
| By: | Marouane Nakhcha (laboratoire de recherche en sciences de gestion des organisations - ENCG Kenitra); Mamdouh Tlaty (laboratoire de recherche en sciences de gestion des organisations - ENCG Kenitra) |
| Abstract: | This article explores the complex interconnection between digitization, green finance, and economic sustainability, highlighting the transformative potential of digitization for a greener economy. Adopting a rigorous research methodology, we examine the foundations of digitization and green finance, identifying the challenges and opportunities inherent in their convergence. The principles and objectives of green finance, inspired by thinkers such as Zadek and Elkington, are confronted with the advances of digitization. Our theoretical analysis reveals complex synergies between digitization and green finance, highlighting their implications for transparency, market efficiency, impact measurement, investment diversification, and innovation. However, these synergies pose challenges such as data security and regulation, requiring a responsible approach. In examining the challenges of digitizing green finance, we highlight the contributions of renowned researchers such as Rob Bauer, Andreas G. F. Hoepner, and Ioannis Oikonomou. Data privacy and regulatory challenges emerge as significant obstacles to a successful transition to greener, more sustainable finance. Our four-step methodology offers a balanced analysis of technological and regulatory challenges, exploring theoretical perspectives and potential solutions. Experts such as Rob Bauer, Andreas G. F. Hoepner, Ioannis Oikonomou, and Carolyn M. Wilkins offer innovative strategies for overcoming these obstacles, emphasizing the importance of collaboration and proactive regulation. Our article contributes to understanding the relationship between digitization, green finance, and economic sustainability. Although the transition to green digital finance presents challenges, the theoretical recommendations offer promising avenues for a more responsible and innovative economy. Our analysis encourages ongoing reflection and determined action to build a more sustainable future. |
| Keywords: | Innovation, Green Finance, Economic Sustainability, Technological Challenges, Catalyst, Sustainable development |
| Date: | 2023–12–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04333883&r=pay |
| By: | Luis Bouza García; Alvaro Oleart |
| Abstract: | The growing influence of social media platforms, and the disinformation that circulates in them, has transformed the public spheres. How to deal with disinformation is an open normative, empirical and political question in contemporary democracies. In this article, we outline an agenda on the institutional strategies pursued in the European Union (EU), the normative understandings of the public sphere that such strategies imply, and the analytical challenges to undertake this line of inquiry. We argue that there is an emerging competition in the EU field of disinformation – constructed by actors coming from different pre-existing fields, such as journalism or foreign policy – not only to define what is ‘true’ from what is ‘fake’, but also to determine the sort of the public sphere and democracy we ought to strive for. This perspective allows us to anticipate which actors might be empowered (or disempowered) depending on how disinformation is addressed in regulatory terms. |
| Keywords: | Big Tech; disinformation; European Union; public policy; public sphere |
| Date: | 2023–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/365881&r=pay |
| By: | Ana Fern\'andez Vilas; Rebeca P. D\'iaz Redondo; Keeley Crockett; Majdi Owda; Lewis Evans |
| Abstract: | There is a general consensus of the good sensing and novelty characteristics of Twitter as an information media for the complex financial market. This paper investigates the permeability of Twittersphere, the total universe of Twitter users and their habits, towards relevant events in the financial market. Analysis shows that a general purpose social media is permeable to financial-specific events and establishes Twitter as a relevant feeder for taking decisions regarding the financial market and event fraudulent activities in that market. However, the provenance of contributions, their different levels of credibility and quality and even the purpose or intention behind them should to be considered and carefully contemplated if Twitter is used as a single source for decision taking. With the overall aim of this research, to deploy an architecture for real-time monitoring of irregularities in the financial market, this paper conducts a series of experiments on the level of permeability and the permeable features of Twitter in the event of one of these irregularities. To be precise, Twitter data is collected concerning an event comprising of a specific financial action on the 27th January 2017:{~ }the announcement about the merge of two companies Tesco PLC and Booker Group PLC, listed in the main market of the London Stock Exchange (LSE), to create the UK's Leading Food Business. The experiment attempts to answer five key research questions which aim to characterize the features of Twitter permeability to the financial market. The experimental results confirm that a far-impacting financial event, such as the merger considered, caused apparent disturbances in all the features considered, that is, information volume, content and sentiment as well as geographical provenance. Analysis shows that despite, Twitter not being a specific financial forum, it is permeable to financial events. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.11530&r=pay |
| By: | Metin Lamby; Valentin Zieglmeier; Christian Ziegler |
| Abstract: | Smart contract access control mechanisms can introduce centralization into supposedly decentralized ecosystems. In our view, such centralization is an overlooked risk of smart contracts that underlies well-known smart contract security incidents. Critically, mitigating the known vulnerability of missing permission verification by implementing authorization patterns can in turn introduce centralization. To delineate the issue, we define centralization risk and describe smart contract source code patterns for Ethereum and Algorand that can introduce it to smart contracts. We explain under which circumstances the centralization can be exploited. Finally, we discuss implications of centralization risk for different smart contract stakeholders. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.06510&r=pay |
| By: | Simon Brown |
| Abstract: | Ethereum is undergoing significant changes to its architecture as it evolves. These changes include its switch to PoS consensus and the introduction of significant infrastructural changes that do not require a change to the core protocol, but that fundamentally affect the way users interact with the network. These changes represent an evolution toward a more modular architecture, in which there exists new exogenous vectors for centralization. This paper builds on previous studies of decentralization of Ethereum to reflect these recent significant changes, and Ethereum's new modular paradigm. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.14562&r=pay |
| By: | Gregor Svindland; Alexander Vo{\ss} |
| Abstract: | We introduce a novel class of risk measures for the management of systemic risk in networks. In contrast to most existing approaches, our measures target the topological structure of the network in order to control the risk of a pandemic spread of some contagious peril throughout the network. While the main discussion of the paper is tailored to the management of systemic cyber risk in digital networks, we also draw parallels to similar risk management frameworks for other types of complex systems. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.13884&r=pay |
| By: | Umberto Natale; Michael Moser |
| Abstract: | We present a comprehensive analysis of the implications of artificial latency in the Proposer-Builder Separation framework on the Ethereum network. Focusing on the MEV-Boost auction system, we analyze how strategic latency manipulation affects Maximum Extractable Value yields and network integrity. Our findings reveal both increased profitability for node operators and significant systemic challenges, including heightened network inefficiencies and centralization risks. We empirically validates these insights with a pilot that Chorus One has been operating on Ethereum mainnet. We demonstrate the nuanced effects of latency on bid selection and validator dynamics. Ultimately, this research underscores the need for balanced strategies that optimize Maximum Extractable Value capture while preserving the Ethereum network's decentralization ethos. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.09654&r=pay |
| By: | Khalid Lahrour (UH2C - Université Hassan II de Casablanca (UH2C)); Latifa Horr (UH2C - Université Hassan II de Casablanca (UH2C)) |
| Abstract: | The concept of inclusion is related to the means of integrating individuals and social groups into social, economic and cultural life by enabling them to participate fully. Economic thought for centuries has considered human well-being as what gives meaning to economic activity. The utilitarian moral theory of Bentham and John Stuart Mills asserts that the purpose of economic activity is to improve the quality of life for the maximum number of people. The inclusive approach includes different aspects, such as social, cultural, economic and financial inclusion. The objective of this paper is to explore the concept of financial inclusion as a form of improving individual well-being and integration into the economic and social activity of a country. To achieve this objective, the paper uses a theoretical approach that draws on the review of available literature on financial inclusion and the different theoretical approaches and perspectives associated with it from prior research and studies to support the arguments presented and to show the importance of financial inclusion in ensuring a more inclusive society. |
| Abstract: | Le concept d'inclusion est lié aux moyens d'intégrer les personnes et les groupes sociaux dans la vie sociale, économique et culturelle en leur permettant d'y participer pleinement. La pensée économique depuis des siècles considère que le bien-être humain est ce qui donne de la signification à l'activité économique. La théorie morale utilitariste de Bentham et John Stuart Mills affirme que l'objectif de l'activité économique est d'améliorer la qualité de vie pour un maximum de personnes. L'approche inclusive couvre divers aspects, tels que l'inclusion sociale, culturelle, économique et financière. Pour atteindre ces objectifs, il est crucial de tenir compte des besoins des individus et des groupes vulnérables et de développer des politiques publiques pour les satisfaire. L'objectif de cet article est d'explorer le concept d'inclusion financière en tant que forme d'amélioration du bien-être individuel et d'intégration dans l'activité économique et sociale d'un pays. Pour atteindre cet objectif, l'article utilise une approche théorique qui se base sur la revue de la littérature disponible sur l'inclusion financière et les différentes approches et perspectives théoriques qui y sont associées des recherches et des études préalables pour étayer les arguments présentés et pour montrer l'importance de l'inclusion financière pour garantir une société plus inclusive. |
| Keywords: | Inclusion, Financial inclusion, Financial exclusion, growth, well-being, Inclusion financière, Exclusion financière, croissance, bien-être |
| Date: | 2023–12–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04346087&r=pay |