• International Commerce and Information Review
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• v.8 no.4
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• pp.71-88
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• 2006

This article want to discuss on comparative research between CHIPS and Fedwire as the cross-border payment systems which America have and use at present. CHIPS is a New York-based automated private-sector clearing facility for large-dollar transfers. It is a central switch communication and settlement system whose 53 participating banks exchange same-day payment messages over dedicated communication lines linking each one to the CHIPS central computer. On January 22, 2001, CHIPS introduced immediate finality for payment released from the CHIPS queue. Unlike the Fedwire system, The CHIPS system is not a real-time gross settlement system. Instead, CHIPS is hybrid system that uses a computer program to select payment order in a queue for release to the receiving bank. CHIPS are governed by CHIPS Rules and Administrative Procedures. Fedwire system is a nationwide electronic fund-transfer system facilitating same-day transfers throughout the United States. It is a gross settlement system providing immediate credit to the receiving bank's master account. Communicating between a Federal Reserve Bank and Fedwire users can be either on-line or off-line. Fedwire transfers are governed by Subpart B of Regulation J, issued by the Federal Reserve Board, which incorporates U.C.C. Article 4A but preempts or supersedes any of its inconsistent provisions.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.113-124
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• 2021

The study investigates how financial markets respond to a shock to tone and semantic similarity of the Bank of Thailand press releases. The techniques in natural language processing are employed to quantify the tone and the semantic similarity of 69 press releases from 2010 to 2018. The corpus of the press releases is accessible to the general public. Stock market returns and bond yields are measured by logged return on SET50 and short-term and long-term government bonds, respectively. Data are daily from January 4, 2010, to August 8, 2019. The study uses the Structural Vector Auto Regressive model (SVAR) to analyze the effects of unanticipated and temporary shocks to the tone and the semantic similarity on bond yields and stock market returns. Impulse response functions are also constructed for the analysis. The results show that 1-month, 3-month, 6-month and 1-year bond yields significantly increase in response to a positive shock to the tone of press releases and 1-month, 3-month, 6-month, 1-year and 25-year bond yields significantly increase in response to a positive shock to the semantic similarity. Interestingly, stock market returns obtained from the SET50 index insignificantly respond to the shocks from the tone and the semantic similarity of the press releases.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.16 no.1
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• pp.350-364
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• 2022

Traditionally, in multi-user multi-carrier systems, the neighboring subband will be gapped by one subcarrier, which is set as guard band to reduce multiple access interference (MAI) between neighboring subbands. The empty subcarrier for guard band will degrade the spectral efficiency of the whole system. In order to enhance the spectral efficiency of multi-user filter bank multiple carrier (FBMC) systems, a new subband allocation method is introduced, in which the neighboring subband is gapped by half subcarrier instead of one subcarrier. Meanwhile, in order to implement the proposed resource allocation scheme, an optimized FBMC prototype filter is designed to decrease the inter-subband interference to the neighboring subband. The detailed simulations about the comparison between the proposed spectrum assignment and traditional FBMC are given, as well as the performance in the different interference scenarios. The simulation results show that the combination of the proposed spectrum assignment scheme and the optimized filter has better performance compared to the traditional scheme. The proposed scheme can be used in the system which serves massive users to get higher spectrum efficiency.

• Journal of information and communication convergence engineering
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• v.22 no.1
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• pp.64-69
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• 2024

Blockchain is a decentralized network in which data blocks are linked. Through a decentralized peer-to-peer network, users can create shared databases, resulting in a trustworthy and aggregated database known as a blockchain that enhances reliability and security. The distributed nature of the blockchain enables data to be stored on multiple nodes, eliminating the need for a central server or platform. This disintermediation significantly reduces the transaction and administrative costs. The blockchain is particularly valuable in applications where reliability and stability are critical because it establishes an open database that ensures data integrity, making it virtually impossible to tamper with or falsify data. This study explores the diverse applications of the blockchain technology in virtual assets, such as cryptocurrency, decentralized finance, central bank digital currency, nonfungible tokens, and metaverses. In addition, it analyzes the potential prospects and developments driven by these innovative technologies.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.265-276
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• 2020

The study aims to explore the problems of the existing Shariah Governance Framework (SGF) and its concerned authorities in the context of Bangladesh. Thus, according to responses from 17 respondents, this study outlines that Bangladesh has an absence of a shortage of experts, experienced, knowledgeable, and qualified Shariah people at all levels (i.e., the central bank, Islamic banks, Shariah Supervisory Boards (SSBs), and regulators). Therefore, Bangladesh does not have a separate Islamic banking act, Shariah audit firm, Shariah index institutions, and comprehensive SGF. The existing guideline has a limitation concerning its comprehensiveness, accountability, responsibility, and structure of SSBs. Islamic banks do not follow the instruction of the central bank in the formation of SSBs. As a result, there is an absence of competent and qualified SSB, which also results in the functions of Shariah departments as well as Shariah applications. Usually, the Board of Directors (BOD), management, executives, customers, and the public also have the conceptual gap about Islamic banks, SGF, and banking system compared to the regular prayers, faith, and belief. Concisely, Bangladesh requisites a comprehensive SGF, Islamic banking act, a standard accounting system, and a robust Shariah audit system for the overall development of Islamic banks and SGF.

• The Korean Journal of Applied Statistics
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• v.34 no.1
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• pp.115-126
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• 2021

Central banks communicate with the market through a statement on the direction of monetary policy while implementing monetary policy. The rapid contraction of the global economy due to the recent Covid-19 pandemic could be compared to the crisis situation during the 2008 global financial crisis. In this paper, we analyzed the text data from the monetary policy statements of the Bank of Korea and Fed reflecting monetary policy directions focusing on how they were affected in the face of a global crisis. For analysis, we collected the text data of the two countries' monetary policy direction reports published from October 1999 to September 2020. We examined the semantic features using word cloud and word embedding, and analyzed the trend of the similarity between two countries' documents through a piecewise regression tree model. The visualization result shows that both the Bank of Korea and the US Fed have published the statements with refined words of clear meaning for transparent and effective communication with the market. The analysis of the dissimilarity trend of documents in both countries also shows that there exists a sense of synchronization between them as the rapid changes in the global economic environment affect monetary policy.

• International Journal of Computer Science & Network Security
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• v.21 no.12spc
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• pp.597-603
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• 2021

The current Sudanese preschool system depends on limited methods of education, children's education needs to be equipped to keep pace with technological development, also, the large gap that exists between the families and the Kindergartens, where many parents have no idea on how their child progresses in the KG context. The aim of this research is to integrate ICT in the preschool education to enhance and improve the preschool education, by building an Integrated Educational Application (Computerized Application for Preschool Education CAPE) which will help to improve the learning outcomes. The researchers used the Experimental Research Methodology, the characteristic of CAPE application is; suitable for children's age, the application style is more attractive to the children and contains a different way to help children get learning. Alawaeel and the Smart Child Kindergartens in Republic of Sudan were selected as a sample of the study, with sample size specifically, 50 children's. Also, the Central Bank of Sudan Kindergarten was selected as one of the institutional Kindergartens for easy communication with parents of children with a sample size 21 children. The study found that; using CAPE application in KG enables children to increase general learning effects and developing child's cognitive skills. Also, the children who were allowed to use CAPE by their parents are performed better in the overall evaluation of KG lessons. Also, using the CAPE in the Pre-School education helps the parents following their children's progress better and more reliable. The researcher recommends that to apply the computerized application and includes the second level. Also, converting the computerized program into an application to be used by children by their self, without the intervention of parents.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.11 no.1
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• pp.100-106
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• 2018

Since the concept of virtual currency called Bitcoin was announced in 2008, the blockchain technology, which is the basis of Bitcoin, is attracting attention as an important platform technology in the era of the 4th industrial revolution that can change our society in the future. Although Existing electronic financial transactions store and manage all transaction history at a reliable central organization such as government and bank, blockchain-based electronic financial transactions are composed of a distributed structure in which all participants participating in the transaction store and manage the transaction history, it is possible to secure transaction transparency while reducing system construction and operation costs. Besides the virtual currency that started with bit coins, the technology of these blockchains has been extended in various fields such as smart contracts and document management. The key technology area of this blockchain is security based on proven cryptographic technology to make it difficult to forge and hack, but there are security risks such as security vulnerabilities in the virtual currency trading service, We will discuss security risks in using virtual currency and discuss countermeasures. Especially security accidents of virtual currency exchanges are occurring frequently recently, the damage of users who trade the virtual currency is also increasing, we propose security threats and security countermeasures against virtual currency exchanges.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.25 no.3
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• pp.346-354
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• 2021

Since 2015, Blockchain has experienced rapid development throughout the world, institutions including Central Banks, Government Departments, Commercial Banks, IT Giants are all accelerating their exploration on Blockchain, and investment on Blockchain related R&D departments and start-up companies also shows explosive growth. This paper studies the impact of blockchain technology on banks' conventional trade settlement methods and describes blockchain technology in term of its concepts, advantages, and disadvantages. It also studies the application processes of blockchain technology combined with conventional trade settlement methods (remittance, collection, and L/C), and analyzes the positive and negative impacts of blockchain technology on the conventional trade settlement methods. In addition, this paper lists the blockchain application cases, analyzes the technology development status and existing problems, and puts forward suggestions and measures for the development of blockchain finance in China based on the case analysis and impact research.