Usman Amjad, Tahseen Ahmed, Humera Tariq, Amir Hussain
Quantum computing has emerged as a new dimension with various applications in different fields like robotic, cryptography, uncertainty modeling etc. On the other hand, nature inspired techniques are playing vital role in solving complex problems through evolutionary approach. While evolutionary approaches are good to solve stochastic problems in unbounded search space, predicting uncertain and ambiguous problems in real life is of immense importance. With improved forecasting accuracy many unforeseen events can be managed well. In this paper a novel algorithm for Fuzzy Time Series (FTS) prediction by using Quantum concepts is proposed in this paper. Quantum Evolutionary Algorithm (QEA) is used along with fuzzy logic for prediction of time series data. QEA is applied on interval lengths for finding out optimized lengths of intervals producing best forecasting accuracy. The algorithm is applied for forecasting Taiwan Futures Exchange (TIAFEX) index as well as for Bitcoin crypto currency time series data as a new approach. Model results were compared with many preceding algorithms.
Transaction volume of crypto currencies, which is generally known by Bitcoin, has reached a significant size worldwide, today. Though they are not recognized by law in common, yet; the crypto currencies attract firms due to their higher revenue rates, transferable skills and lower transaction costs. Today the firms can pay and collect their receivables by the crypto currencies also they invest in crypto currencies to benefit from exchange rates. The aim of the study is evaluating the accounting of Bitcoin in Turkey by presenting the process and features of crypto currencies, especially Bitcoin.
This paper examines the market for initial coin offerings (ICOs). ICOs are smart contracts based on blockchain technology that are designed for entrepreneurs to raise external finance by issuing tokens without an intermediary. Unlike existing mechanisms for early-stage finance, tokens potentially provide investors with rapid opportunities thanks to liquid trading platforms. The marketability of tokens offers novel insights into entrepreneurial finance, which I explore in this paper. First, I document that investors earn on average 8.2% on the first day of trading. However, about 40% of all ICOs destroy investor value on the first day of trading. Second, I explore the determinants of market outcomes and find that management quality and the ICO profile are positively correlated with the funding amount and returns, whereas highly visionary projects have a negative effect. Among the 21% of all tokens that get delisted from a major exchange platform, highly visionary projects are more likely to fail, which investors anticipate. Third, I explore the sensitivity of the ICO market to adverse industry events such as China's ban of ICOs, the hack of leading ledgers, and the marketing ban on FaceBook. I find that the ICO market is highly susceptible to such environmental shocks, resulting in substantial welfare losses for investors.
Md. Abdur Rahman, Elham Hassanain, Md. Mamunur Rashid, Stuart J. Barnes · 5 authors
In this paper, we present a novel method, process, and system for calculating dyslexic symptoms, generating metric data for an individual user, community, or group in general. We present a mobile multimedia Internet of Things (IoT)-based environment that can capture multimodal smartphone or tab-based user interaction data during dyslexia testing and share it via a mobile edge network, which employs auto-grading algorithms to find dyslexia symptoms. In addition to algorithm-based auto-grading, the captured mobile multimedia payload is stored in a decentralized repository that can be shared with a medical practitioner for replay and further manual analysis purposes. Since the framework is language-independent and based on Blockchain and a decentralized big data repository, dyslexic patterns and a massive amount of captured multimedia IoT test data can be shared for further clinical research, statistical analysis, and quality assurance. Notwithstanding, our proposed Blockchain and off-chain-based decentralized and secure dyslexia data storage, management, and sharing framework will allow security, anonymity, and multimodal visualization of the captured test data for mobile users. This paper presents the detailed design, implementation, and test results, which demonstrate the strong potential for wider adoption of the dyslexia mobile health management globally.
Land registries are successful when trust is ensured between all involved parties. In this paper we introduce the idea of improving the quality of land registries by using blockchain technology. With blockchain we can overcome the limitations (e.g. centralization) of the existing land registries and offer a trusted service that provides significant benefits to the participants. This paper also highlights the functionality of a blockchain land registry solution that can be adopted by the Republic of Cyprus and it suggests the implementation of a small pilot that can be used as proof of concept.
We propose a design for philanthropic or publicly-funded seeding to allow (near) optimal provision of a decentralized, self-organizing ecosystem of public goods. The concept extends ideas from Quadratic Voting to a funding mechanism for endogenous community formation. Individuals make public goods contributions to projects of value to them. The amount received by the project is (proportional to) the square of the sum of the square roots of contributions received. Under the standard model this yields first best public goods provision. Variations can limit the cost, help protect against collusion and aid coordination. We discuss applications to campaign finance, open source software ecosystems, news media finance and urban public projects. More broadly, we offer a resolution to the classic liberal-communitarian debate in political philosophy by providing neutral and non-authoritarian rules that nonetheless support collective organization.
Abstract This chapter considers the regulatory regime for cryptocurrencies and other value data (defined as assets which are both excludable and rivalrous, recorded by a trusted technology rather than booked by a qualified intermediary). It begins with a discussion of changes in selected monetary assets and manifestations — namely banknotes and central bank reserve balances — that have occurred over time. It then describes three modes of money creation and their effect on the substance of an asset: money created on a temporary basis; outright money created with no connected reversal event; and by issue of helicopter money. It also analyses the different forms in which cryptocurrencies manifest themselves and their consequences for the rules governing title, transfer and protection of commercial dealings. Finally, it explores the excludable and rivalrous nature of value data and the manifestation of such data by entry in a register kept by a trusted technology.
Problem: Parallels have been drawn between the rise of the internet in 1990s and the present rise of bitcoin (cryptocurrency) and underlying blockchain technology. This resulted in a widespread of media coverage due to extreme price fluctuations and increased supply and demand. Garcia et al. (2014) argues that this is driven by several social aspects including word-of-mouth communication on social media, indicating that this aspect of social media effects individual attitude formation and intention towards cryptocurrency. However, this combination of social media of antecedent of consumer acceptance is limited explored, especially in the context of technology acceptance. Purpose: The purpose of this thesis is to create further understanding in the Technology Acceptance Model with the additional construct: social influence, first suggested by Malhotra et al. (1999). Hereby, the additional construct of social media influence was added to advance the indirect effects of social media influence on attitude formation and behavioural intention towards cryptocurrency, through the processes of social influence (internalization; identification; compliance) by Kelman. Method: This study carries out a quantitative study where survey-research was used that included a total sample of 250 cases. This sample consists of individuals between 18-37 years old, where social media usage is part of the life. As a result of the data collection, analysis was conducted using multiple regression techniques. Conclusion: Analysis of the findings established theoretical validation of the appliance of the Technology Acceptance Model on digital innovation, like cryptocurrency. By adding the construct of social media, further understanding is created in the behaviour of millennials towards cryptocurrency. The evidence suggests that there are clear indirect effects of social media on attitude formation and intention towards engaging in cryptocurrency through the processes of social influence. This study should be seen as preliminary, where future research could be built upon. More specifically, in terms of consumer acceptance of cryptocurrency and the extent of influence by social media.
Cryptocurrencies are digital currencies that have garnered significant investor attention in the financial markets.The aim of this project is to predict the daily price, particularly the daily high and closing price, of the cryptocurrency Bitcoin.This plays a vital role in making trading decisions.There exist various factors which affect the price of Bitcoin, thereby making price prediction a complex and technically challenging task.To perform prediction, we trained temporal neural networks such as time-delay neural networks (TDNN) and recurrent neural networks (RNN) on historical time seriesthat is, past prices of Bitcoin over several years.Features such as the opening price, highest price, lowest price, closing price, and volume of a currency over several preceding quarters were taken into consideration so as to predict the highest and closing price of the next day.We designed and implemented TDNNs and RNNs using the NeuroSolutions artificial neural network (ANN) development environment to build predictive models and evaluated them by computing various measures such as the MSE (mean square error), NMSE (normalized mean square error), and r (Pearson's correlation coefficient) on a continuation of the training data from each time series, held out for validation.
In response to Molnár and Thies (2018) demonstrating that the price data of Bitcoin contained structural breaks, we identify the optimal number of states for a Markov regime-switching (MRS) model to capture the regime heteroskedasticity of Bitcoin. We determined that the restricted 5-state MRS model provided the best goodness-of-fit scores (-AIC, -BIC, -HQIC) for the fitted sample. In addition, we found evidence of stylised characteristics in the price data of Bitcoin, namely: volatility clustering; volatility jumps; asymmetric volatility transitions; and the persistence of shocks.
The overall performance of a portfolio is the utmost measure of success for the skills of the portfolio’s manager. The Sharpe ratio and the modified Sharpe ratio have been some of the most referenced standards used in finance, to evaluate the efficiency of funds and hedge funds managers, however; such an ordering should be accompanied by proper statistical inference. In this work we examine whether Bitcoin can diversify significantly a reference portfolio composed from the five best performers of the Dow Jones Industrial Average for 2017 that is, Apple, Boeing, Caterpillar, Visa, and Walmart. The portfolios are constructed via analytical solutions in the mean-variance framework, constrained optimization for the cases of long-only and risk-parity portfolios, and an equal weight strategy. The statistical significance of the Sharpe and modified Sharpe ratios differences is examined via a variety of tests. The results indicate that Bitcoin can significantly improve only the Sharpe and modified Sharpe ratios of the minimum variance and risk-parity portfolios. On the efficient frontier, the tangent portfolios are dominated by the traditional stocks.
As of January 2018, there were 1,384 cryptocurrencies available, and the number continues to grow., The term "cryptocurrencies," for now, at least, covers Bitcoin; altcoins, which are simply coins that are variants or forks of Bitcoin when there is a change in the underlying codes; and tokens.Unlike Bitcoin and coins that operate on separate blockchains, tokens are issued and operated on top of a blockchain.Bitcoin enjoys its enviable leading role among all cryptocurrencies, and Ethereum follows Bitcoin in standing.At the present time and for convenience purposes in the confines of this article, the author will refer to Bitcoin as inclusive of other cryptocurrencies.
Bitcoin is a digital cryptocurrency that has attracted substantial interest in recent years from the general public, profit seekers, risk takers, academic practitioners, and, last but not least, economists. Although it is referred to as new, Bitcoin has existed since 2009 and is rooted in technology that goes back even farther. It was the first established cryptocurrency, with the first trade in 2010. Since 2015, Bitcoin has attracted even more attention because of its increase in value and volume of exchange. The Bitcoin system maintains a global, distributed cryptographic ledger of transactions, or blockchain, through a consensus algorithm running on hardware scattered around the world. This paper discusses the nature of cryptocurrency and blockchain, how it works, and the present status of Bitcoin blockchain in different countries around the world. The paper also includes a review of literature on Bitcoin engineering, Bitcoin as currency and the cryptocurrency system, related work on queuing theory, and work on competition and monopoly. The paper explores three possible outcomes with regard to the future prospects of Bitcoin. The various aspects of this technology are yet to be revealed in detail, but the authors hope that this simple, basic, and narrative paper will be helpful to those seeking basic references regarding this newest issue.
The appearance of cryptocurrency marks the arrival of a new unlimited global system with no intermediaries and costly intercontinental transactions. Digital money would make it possible for us to have significantly quicker and cheaper transactions, which, along with present technology, is considered inevitable in the future. This paper includes three topics and deals with the bitcoin phenomenon and its influence on economic growth. The paper presents the bitcoin technology, its advantages and some risks to which the system’s users are exposed. Bitcoin represents an exceptional technical achievement, and specific features of bitcoin present a particular challenge for its users.