Abstract This study aimed at analyzing the effect of blockchain technology in innovating accountantsâ skills as a multimethodology study in the industrial companies listed on the Amman Stock Exchange. For achieving this goal, the researchers adopted the multimethodology approach using mixed methods between quantitative and qualitative research methodologies by conducting interviews with accountants, auditors, and financial managers forming a study sample of 50 individuals. Results show that the highest remarkable indication concerning the phenomenon of analyzing the effect of Blockchain technology in innovating accountantsâ skills is ( Increasing performance efficiency ) as an emerging theme. Then followed by ( Blockchain technology w ill work on innovating accountantsâ skills ) as the second emerging theme. And then followed by ( Enhancing accountantsâ skills ) as the third emerging theme. And these results reflect the convictions and expectations of the study sample of accountants, auditors, and financial managers that the impact of implementing blockchain technology will innovate accountantsâ skills.
Dwi Prasetyo, Nining Ariati, Harmoko Lubis, Aswin Akbar
Cryptocurrency trading is a very popular business of buying and selling digital money today. Many investors trade cryptocurrency assets through cryptocurrency exchange platforms in the hope of getting a large profit difference. However, the cryptocurrency trading business is not always favourable for investors as choosing the wrong cryptocurrency exchange can result in huge losses from the trades made. Based on these problems, it is necessary to have a decision support system for selecting the most relevant cryptocurrency exchange to be used as a cryptocurrency trading platform that can increase the chances of investors making profits. The decision support system method used in this research is Preference Selection Index (PSI). The results of the selection of cryptocurrency exchanges using the Preference Selection Index (PSI) method in this study recommend Indodax as the most relevant cryptocurrency exchange used by investors to gain profits in running a cryptocurrency trading business because it gets the highest value (0.893662729) compared to 4 other alternatives.
Cryptocurrency adalah mata uang digital terdesentralisasi yang diatur oleh pemerintah pusat. Karena cryptocurrency sangat fluktuatif, analisis diperlukan sebelum menggunakan cryptocurrency untuk meminimalkan kerugian. Penelitian ini melakukan perbandingan antara model Long Short Term Memory (LSTM) dan algoritma optimasi seperti Adam dan Root Mean Square Propagation (RMSProp) untuk melakukan prediksi terhadap nilai cryptocurrency. Metode LSTM dioptimasi menggunakan Adam Optimizer dan dievaluasi berdasarkan Root Mean Square Error (RMSE). Dengan demikian diperoleh prediksi nilai RMSE sebesar 0.08217562639465784 yang merupakan nilai error yang kecil sehingga mendekati nilai aktual. Sedangkan nilai RMSE 0.10699215580552895 menggunakan RMSProp mendapatkan nilai yang lebih besar yang berdampak terhadap akurasi hasil prediksi. Dengan demikian kombinasi antara algoritma LSTM dan Adam dapat melakukan prediksi dan mengoptimasi data dengan akurat.
Ratna Juwita*, Dewi Melinia Ramadhani, Anis Wahyu Intan Maris
This study examines the determinants of cryptocurrency returns, namely Trading Volume, Price Volatility, and Market Capitalization. This study uses Bitcoin, Ethereum, Tether, USD Coin, and BNB, which are the Top 5 largest Cryptocurrency Market Capitalizations in 2022. The testing method used in this study is a panel data regression analysis. The results of this study prove that Trading Volume and Price Volatility have a significant and positive effect on Cryptocurrency Returns. In contrast, Market Capitalization does not substantially impact Cryptocurrency Returns. If investors want to earn high returns, then it is advisable to choose cryptocurrencies with high trading volume and high price volatility. But keep in mind, with high price volatility can also mean a greater risk of the coin. Keywords: Cryptocurrency; Trading Volume; Price Volatility; Market Capitalization; Return Abstrak Penelitian ini bertujuan untuk menguji berbagai factor penentu imbal hasil cryptocurrency yaitu Volume Perdagangan, Volatilitas Harga dan Market Capitalization. Studi ini menggunakan Bitcoin, Ethereum, Tether, USD Coin, dan BNB yang merupakan Top 5 Market Capitalization Cryptocurrency terbesar tahun 2022. Metode pengujian yang dilakukan dalam penelitian ini yaitu uji analisis regresi data panel. Hasil dari penelitian ini membuktikan bahwa Volume Perdagangan dan Volatilitas Harga berpengaruh signifikan dan positif terhadap Return Cryptocurrency, sedangkan Market Capitalization tidak memiliki pengaruh yang signifikan terhadap Return Cryptocurrency. Jika investor ingin mendapatkan return yang tinngi, maka disarankan untuk memilih cryptocurrency yang memiliki Volume Perdagangan dan Volatilitas Harga yang tinggi. Namun yang perlu diingat adalah, dengan tingginya Volatilitas Harga berarti pula tingginya risiko koin crypto tersebut. Kata Kunci: Mata uang kripto; Volume Perdagangan; Volatilitas Harga; Kapitalisasi pasar; Pengembalian
Countries are using various sophisticated information technologies to help provide quality and transparent services. This research aims to explore the potential and models of using blockchain technology to overcome corruption problems in Indonesia. Proper utilisation of blockchain technology can increase accountability and reduce loopholes in corrupt practices. Blockchain is a distributed database with records (ledgers) shared by all network participants. Smart contract as a form of blockchain can help make the process more transparent and trackable. Since blockchain is a relatively new technology, very few studies have been done to explain its potential in the public sector, particularly with regards to issues of corruption. This study develops a model for the application of blockchain technology and conducts an in-depth analysis of its possibilities using a qualitative method and an exploratory approach. In-depth interviews, designed to get a big picture view of the blockchain development model in the public sector were conducted with several sources, namely the Director General of Asset Tracing KPK (Indonesian Anti-Corruption Commission), KPK Public Prosecutors, the KPK IT department, WIr Group, Financial and Development Oversight Agency (BPKP), and blockchain practitioners. The research was conducted between August and December 2022. The study's findings demonstrate how promising it is to use blockchain technology to lessen corruption. Distributed ledgers give governments new ways to improve transparency. The model that can be applied is âpermissioned blockchainâ because it has a private nature. Blockchain application requires top management support, organisational readiness, and organisational support. To deepen understanding, further experimental research is needed to test the model.
In 2020-2021 where the world experienced a Covid-19 pandemic, the price of Bitcoin increased and there was a fairly high price spike at the turn of the year 2020-2021 and had touched an all-time high (ATH) at the end of 2021. Bitcoin is one of the currencies crypto that is volatile when compared to the exchange rates of widely used currencies. In addition, Bitcoin price movements are difficult to predict. The samples used are Euro, Pound Sterling, Yuan, Yen, Ruble, Franc, and Bitcoin. The data used is in the form of Bitcoin price data and some of these currencies in 2020-2021. This study aims to find the relationship between volatility with Bitcoin trading volume, return with Bitcoin trading volume, and return with Bitcoin volatility for forecasting purposes. The research method used is the Augmented Dickey-Fuller (ADF) stationarity test, then using the ARMA model after that using the EGARCH model to find the relationship. The results of this study indicate that there is a positive relationship between volatility and Bitcoin trading volume. Just like the return and trading volume of Bitcoin there is a positive relationship. However, Bitcoin returns, and volatility have a negative relationship. For further research can use different crypto currency assets with different time periods. Keywords: Volatility, Volume, Returns, Bitcoin, GARCH
This research study explores the potential benefits and challenges of integrating blockchain technology into the education sector. Specifically, it examines the concept of âsmart education,â which utilizes blockchain to create a secure, decentralized, and transparent learning environment. This study provides an overview of blockchain technology and its applications in education, including the use of smart contracts, digital credentials, and decentralized learning platforms. It also discusses the potential advantages of smart education, such as increased security and privacy, improved student tracking and data analysis, and reduced costs. The ability to securely store, verify, and share educational credentials on a decentralised, transparent platform made possible by blockchain technology which has the potential to revolutionise the education sector. To fully realise the advantages of blockchain in education, there are several obstacles that must be overcome. The practical application of the technology is one of the main obstacles to its use in education. There are few set norms and protocols for using blockchain technology in education yet because it is still in its early phases. Getting educational institutions and businesses to use blockchain technology for the verification of educational credentials is another challenge. Due to a lack of knowledge or confidence in the technology, many educational institutions might be hesitant to adopt it.
Anatasya Pratiwi Putri, Raja Ria Yusnita, Raja Ade Fitrasari Mochtar
Cryptocurrency is a digital currency that can be used for transaction tools, using cryptography so that it is difficult to counterfeit. The crypto does not have a physical form, but can still be used as a digital asset. This study aims to determine an efficient portfolio of several cryptocurrencies by forming an Efficient Frontier Line. The efficient frontier line is formed by determining the risk and return of 6 cryptocurrencies, namely Bitcoin, Dogecoin, Yearn.finance, Binance Coin, Monero and Cardano. The technique used to select the sample is direct observation or observation of the prices of 6 cryptocurrencies for the period January-December 2021. In addition, literature studies through journals, news related to cryptocurrencies are also used. To form an efficient portfolio model, this study uses quantitative and qualitative analysis. The result of this study is that there are investment options for investors who like risk, choosing the proportion that maximizes profits with high risk. For investors who do not like high risk, they can choose the minimum proportion, and for moderate investors who can accept the risk of an equal proportion can choose a random proportion. Based on the results of the 3 proportions that will be chosen by investors, Bitcoin is one of the cryptocurrencies that is always chosen to invest because Bitcoin is a crypto that produces efficient returns and risks even though the risk in Bitcoin is quite high at certain returns.Keywords: Cryptocurrency, Risk, Return
Indodax is one of the cryptocurrency trading platforms in Indonesia that has the highest sentiment for the quality they provide, good quality on a platform is an important factor in obtaining user satisfaction and will have an impact on the long-term success of a company. The importance of user satisfaction on cryptocurrency online trading platforms is a significant factor in increasing user loyalty in today's competition. This research was conducted to analyze the quality of existing cryptocurrency trading platform services so that they can be input for cryptocurrency trading service providers to improve the quality of their services, this information can also be considered by prospective platform users in choosing a trading platform that has the best quality of service to minimize losses that may be caused by the platform. In this study, sentiment analysis was used for indodax play store platform users and then processed using the lexicon classification method to produce sentiment analysis for each significant factor of service quality. From the results of the classification carried out in this study, the results of the analysis show that most users are satisfied and give positive sentiments related to security, namely 87.63%, positive sentiments related to the interface design 88.46%, positive sentiments related to service & convenience by 83%, but some users also gave a slightly positive sentiment related to administrative costs, namely 39%, and their negative sentiment was mostly related to the error & failure system, which received more than 80% sentiment. While the recall value is 38.07%, the precision is 56.69% and the f1-score is 45.55%. The results of this study can be concluded that there are still many important points that must be improved in quality by the indodax platform service providers so that they can be more attractive and used by everyone.
Abstract This entire system stands upon blockchain technology. The system is initially broken down in sections like different modules for patient, doctor, pharmacy and insurance agent. It is completed utilising a personal blockchain from Corda and Ethereum called Ganache as well as a private blockchain. This supports the development, testing, and general deployment of dApps. An Ethereum development framework is called Truffle Suite. Completely control the lifetime of modern contracts that includes bespoke installations, linking with different libraries and intricate applications on Ethereum. In dApps, Meta Mask is usefull for account creation, login and bitcoin transcations. The storage of all huge files and documents is done using the IPFS technology. Because IPFS is a P2P network circuit for decentralised data storage and the produced hash is simple to store on the blockchain, it is used. ReactJS was used to build the systemâs front end. The Remix online compiler for Solidity is used to build and test smart and modern contracts that are written in the Solidity blockchain programming language.
The higher education management systems first identified and realized the trap of pitting innovation against privacy while first addressing COVID-19 social isolation challenges in 2020. In the age of data sprawl, we observe the situation has been exacerbating since then. Integrating blockchain technology has the potential to address the recent and emerging challenges in the higher education management system. This paper unravels the Good (scopes and benefits), Bad (limitations), and Ugly (challenges and trade-offs) of blockchain technology integration in the higher education management paradigm in the existing landscape. Our study adopts both qualitative and quantitative approaches to explore the experiences of educators, researchers, students, and other stakeholders and fully understand the blockchain's potential and contextual challenges. Our findings will envision an efficient, secure, and transparent higher education management system and help shape the debate (and trade-offs) pertaining to the recent shift in relevant business and management climate and regulatory sentiment.
Bitcoin merupakan komoditas digital yang berbasis pada kriptografi, atau dapat disebut sebagai mata uang virtual atau mata uang digital, yang itu dipakai oleh para penggunanya untuk alat dalam bertransaksi dan berinvestasi. Di Indonesia sendiri penggunaan bitcoin tidak hanya persoalan dalam perkembangan pengetahuan dan teknologi, akan tetapi sudah memasuki area pembahasan fikih. Fatwa Majelis Ulama Indonesia (MUI) dalam Ijtima Komisi Fatwa yang menetapkan bahwasanya penggunaan bitcoin sebagai alat tukar adalah haram disebabkan terdapat unsur gharar dan dharar, tidak diakui oleh Pemerintah sebagai alat tukar dan rawan dijadikan tindak kejahatan terutama cyber crime. Tujuan dari penelitian ini adalah menganalisa apa dasar pertimbangan hukum MUI tentang menetapkan hukum bitcoin dan metode penetapan hukum apa yang digunakan. Penelitian ini merupakan jenis penelitian hukum normatif atau penelitian pustaka yaitu dengan menjadikan referensi pustaka dan dokumen yang relevan dalam penelitian ini. Adapun sumber data berupa sumber data primer dan sekunder. Teknik dalam pengumpulan data penulis memakai studi kepustakaan dan dianalisis menggunakan deskritif analisis. Berdasarkan analisis yang dilakukan dapat disimpulkan bahwa MUI secara tegas mengharamkan bitcoin dikarenakan terkandung gharar, dharar dan qimar didalamnya. Dan dalam metode penetapan hukumnya, MUI menggunakan al-Qurâan, Sunnah dan Pendapat Ulama.Kata Kunci: Bitcoin, MUI, Istinbath, Fatwa
Razi Azrie Ismail, Nur Haliza Abdul Wahab, Khairunnisa A. Kadir, S. Zaleha.H ¡ 8 authors
A platform that enables users to schedule appointments and connect with dentists is called the Dental Services System. The bulk of appointment slot orders are placed through more traditional channels, such phone calls, texts, or clinic entrances, prior to obtaining treatment. When staff members are unable to alter their status or take too long to provide information, schedule a time, or complete an assignment, this might be troublesome. Blockchain technology is a distributed ledger system that makes use of mathematics, algorithms, encryption, and financial factors. Blockchain's high-security design makes it safe, and the immutability of the data stored there helps to increase public confidence. Data storage databases that use blockchain technology and include security features that permit the exploitation of exposed user data are the main subject of the study. The blockchain may be integrated into a dental service system because of its excellence. The goal of this implementation of blockchain technology into a Dental Service System is to guarantee complete confidentiality while enabling authorized users to quickly create and get permanent records when paired with an application layer. The goal of this project is to create a tool that allows users to schedule appointments while utilizing a blockchain for safe data storage. In the end, this application will facilitate user appointment scheduling while limiting third parties' access to user data.
Penelitian ini bertujuan untuk menganalisa perbandingan kinerja Bitcoin, indeks saham LQ45, dan emas spot sebagai instrumen investasi menggunakan variabel pengukuran kinerja return, risk, Sharpe, Treynor, dan Jensen. Jenis penelitian ini merupakan kuantitatif. Populasi yang digunakan merupakan harga penutupan bulanan dari Bitcoin, indeks saham LQ45, dan emas spot. Teknik pemilihan sampel adalah purposive sampling yang berjumlah 72 data untuk masing-masing instrumen investasi Bitcoin, indeks saham LQ45, dan emas spot selama periode 1 Januari 2017-31 Desember 2022. Teknik analisa data yang digunakan adalah uji Kruskal-Wallis. Hasil penelitian ini menunjukkan bahwa Bitcoin, indeks saham LQ45, dan emas tidak memiliki perbedaan yang signifikan terkait return, sedangkan pada aspek risk, Sharpe, Treynor, dan Jensen terdapat perbedaan yang signifikan. Selain itu, instrumen investasi dengan kinerja return, risk, Sharpe, dan Treynor tertinggi dimiliki oleh Bitcoin, sedangkan pada pengukuran kinerja Jensen dengan nilai tertinggi dimiliki oleh indeks saham LQ45. Simpulan pada penelitian ini adalah kinerja instrumen investasi terbaik dimiliki oleh Bitcoin. Penelitian ini diharapkan dapat dijadikan sebagai sumber referensi dan bahan pertimbangan bagi para investor atau masyarakat secara umum dalam memilih instrumen investasi.
Recently, conventional art assets and those in the form of NFTs have experienced significant price increases. The purpose of this research is to raise the NFT phenomenon in art activities in Indonesia. Researchers used qualitative methods with an emphasis on observation and literature studies to obtain data. The research results show that the NFT market has the potential to be a place of various scams. Then, as NFT creators, artists are only given tantalizing images, especially those related to the metaverse. Meanwhile, NFT in the near future cannot replace conventional works of art. In conclusion, NFT is beneficial for artists, but the challenge is that metaverse developers must provide a creative medium that is safer from fraudulent acts.
Abstract: Electronic First Information Report (e-FIR) is a document filed to the police stations by a victim or accuser when offense is committed. In traditional e-FIR databases, offenseâs records can be tampered because of its centralized nature. Also intentional false e-FIR can be registered. Thus, data transparency and integrity is big concern. To overcome this problem e-FIR with decentralized blockchain system can be integrated with e-FIR portal. The main characteristics of the blockchain technology are advanced security and decentralized system. This technology uses the encrypted blocks to make FIR data secured. Proof of Stake (PoS) protocol is used in this system. Users have to submit e-FIR through portal which will be stored in blocks in blockchain. Due to advanced security feature of system, data tampering will be prevented. Integrating such FIR registration system will ensure transparency and enhance data integrity.
Aji M. Iqbal Fadhilah, Odi Nurdiawan, Fadhil M. Basyisyar
Litedex adalah sebuah perusahaan startup berbasis teknologi blockchain. Penerapan blockchain dilakukan dengan menciptakan utilitas dari berbagai setor, salah satunya di sektor pendidikan. Rendahnya ketersediaan informasi dan minat pasar serta sulitnya memvalidasi keaslian berkas sertifikat, dimana berkas tersebut ada potensi untuk dimanipulasi menjadi sebuah masalah yang harus diciptakan solusi. Saat ini, ketersediaan informasi mengenai blockchain hanya tersedia di laman resmi media informasi global yang hanya berbahasa inggris, seperti Coinmarketcap. Penelitian ini bertujuan untuk mengintegrasikan layanan Sistem Informasi dengan Blockchain dan NFT yang dapat memfasilitasi proses pembelajaran yang cepat, data tersimpan secara terdistribusi ke dalam blockchain dengan aman, dan bukti keabsahan dari proses penyelesaian studi dapat diakses secara publik dan dapat divalidasi dengan mudah karena NFT memiliki id parameter yang unik. Metode penelitian menggunakan metode prototype dengan mengimplementasi Rapid Application Development (RAD) sehingga aplikasi yang dibuat bisa dikembangkan dan diperbaiki dengan cepat karena kebutuhan dan perkembangan blockchain yang super cepat. Bahasa pemrograman yang digunakan adalah PHP dengan framework Laravel, Solidity, React JS, Javascript, dan MYSQL. Hasil dari penelitian ini adalah sebuah Sistem Informasi di sektor pendidikan yang dapat terintegrasi dengan Blockchain untuk proses penyimpanan dan pendistribusian data yang aman dan penerapan NFT sebagai asset digital yang merepresentasikan identitas dan bukti proses hasil belajar yang dapat divalidasi dengan akurat karena memiliki unik id dan tidak dapat dimanipulasi. Sistem ini dapat berjalan untuk proses pembelajaran, pemberian soal, pendistribusian bukti proses hasil belajar, laporan statistik pengguna dan dapat terintegrasi dengan utilitas Litedex maupun utilitas pengembang blockchain yang lainnya.
M. Maheswari, S. Prasath, R. Rajesh, D. Ramalakshmi
Schools and Institutions maintain studentâs records and certificates for future needs like verification and credit transfer. These procedures are carried out manually to ensure that documents and the data are valid and non-tampered, which usually needs more energy and time. Converting these procedures into digital form minimizes the time and energy consumption but with the cost of high-security risks. Storing studentâs data on a centralized system has problems like data breaches due to human error, injection attacks, and buffer overflow attacks, and even if the server gets damaged physically, itâll take more time to repair and recover the damaged data and start running. But in blockchain technology, the data stored in blocks with a cryptographical code of the previous block, gives enhanced security compared to the traditional database. If anyone tries to tamper or hack the data, the decentralized technology can easily recognize the modification and prevent it from happening. Three layers of blockchain are being employed to give the Academic Record System the highest level of security possible. Data Storage Blockchain is the third layer of the model which stores the studentâs records. The Access Control Model Blockchain is the second layer, which includes additional layer security to the Data Storage Blockchain as it records all the activities around it. And the final layer is the Authentication Blockchain, which is based on Ethereum Blockchain. This model validates transaction using Smart Contracts given to them, creating a new user and validating the login process securely for the Authority, Institution, and the Student for accessing the Data Storage.
The current education system emphasizes memorization and high test scores, leading to disinterest and a lack of motivation among students. A more comprehensive educational approach that integrates hands-on learning, real-world applications and the development of critical thinking skills is proposed. Decentralization and transparency are two critical issues that impact the education system, and addressing them through initiatives such as increased openness in decision-making processes and accountability can improve the system. This research work proposes using Blockchain technology in education to provide recognition for studentsâ skills, secure and transparent verification of their academic history, and a more engaging and rewarding learning experience. A proof of concept is proposed, an incentive-based skill development platform that uses Ethereum smart contracts and cryptographic tokens to reward studentsâ efforts.
A cryptocurrency exchange application is a platform that provides a facility for users to do a crypto asset transaction. In Indonesia, there are two types of applications, regulated and unregulated apps with various and different facilities. This research aims to analyze factors that influence users' acceptance to use cryptocurrency exchange applications with extended TAM methods with 7 external variables such as design, experience, perceived risk, regulatory support, social influence, trust, and perceived benefit. Then, we analyzed the data collected using the Structural Equation Modeling (SEM) -Partial Least Square (PLS) method. This research's result was conducted to analyze and give recommendations for the next research and the apps provider regarding factors that influenced users' acceptance to use the cryptocurrency exchange application. The number of samples will be determined using a formula from Roscoe Theory with a minimum of 110 respondents and the questionnaire was filled out by 130 respondents using Google forms. This research's result has proven that trust and design are external variables that affect cryptocurrency exchange application acceptance. In contrast with the previous study in which regulatory support affects the user's trust, this research found social influence and experience are variables that affect user's trust
Cryptocurrency adalah uang digital, yang beredar di dunia maya tidak memiliki wujud fisik, awal kemunculannya tahun 2008 oleh Satoshi Nakamoto, keamanan Crypto dilindungi oleh teknologi blokchain, namun tidak ada lembaga yang bertanggung jawab dan tidak memiliki asset yang mendasar, segala problem yang muncul, menimbulkan pro dan kontra dikalangan pakar ekonomi dan para ulama, crypto belum memenuhi beberapa unsur dan kriteria sebagai mata uang khususnya dalam prinsip Ekonomi Islam, dalam konteks uang digital tidak ada underlying yaitu aset dijadikan sebagai dasar transaksi, uang digital bukan mata uang, ada unsur ketidak jelasan gharar, harga tidak terkendali dan fungsi mata uang digital telah berkembang sekedar alat tukar menjadi komoditas investasi. penelitian ini bertujuan untuk mengetahui bagaimana Transaksi Bitcoin dalam perspektif ekonomi syariah dan pandangan hukum islam terhadap transaksi bitcoin, teori yang digunakan adalah teori transaksi ekonomi dan penelitian ini bersifat studi pustaka (Library Research), Dari penelitian ini dapat disimpulkan bahwa dalam Islam transaksi yang dilakukan harus jelas, wujud, barang, dan maanfaatnya, dan tidak ada pihak yang saling dirugikan, bitcoin haram dan tidak memenuhi syarat silâah secara syarâi, selain itu bitcoin juga bertentangan dengan Undang- Undang Nomor 7 Tahun 2011 dan Peraturan Bank Indonesia Nomor 17 Tahun 2015, Di Indonesia alat tukar yang sah hanya satu rupiah.
Sobhi Noureldin Ata, Ahmed K. Hassan, Hossam S. Selim, Badry E. Hammad ¡ 6 authors
Blockchain has received a lot of attention in financial technology, as it combines many computer technologies, including data storage, point-to-point transmission, and consensus mechanisms, as it is considered a decentralized technology for managing transactions and data that has been developed. The study aimed to demonstrate the impact of the use of blockchain technology on the financial performance of investment projects developed by the Ministry of Sports. We used the descriptive approach (survey study method) as an appropriate method to achieve the objectives of the study due to the suitability of its procedures. The participants in the study included some leaders of the Ministry of Sports and experts in the field of sports investment, as well as some leaders working in the directorates of youth and sports, and some members of the board of directors of the Olympic Committee, sports federations, sports clubs, and youth centers. The study sample was selected in a deliberate way based on the categories of the study population. There were 300 participants in the study, and the researchers used two questionnaires as tools to collect the data. The results revealed a lack of the use of blockchain technology at the Ministry of Sports and a low level of financial performance at the Ministry of Sports. With a correlation between the level of financial performance and the use of blockchain technology, the level of the financial performance of the investment projects developed by the Ministry of Sports could be predicted based on the use of blockchain technology. Finally, the study also provides insight into political implications, limitations, and future directions.
Muhamad Rizky Ramadhan, Wita Juwita Ermawati, Anna Fariyanti
Research aims: This study aims to investigate herding behavior in the large-capitalization cryptocurrency market and analyze the role/influence of Indonesia's macroeconomic factors, namely inflation and interest rates, on herding behavior in the large-cap cryptocurrency market.Design/Methodology/Approach: This study used secondary data from the daily closing prices of five large-cap cryptocurrencies and Indonesia's macroeconomic data (inflation and interest rates) from April 2019 to December 2022 by using the Cross-Sectional Absolute Deviation (CSAD) model and Newey-West estimator regression approach to detect herding behavior with a modified independent variable model involving factors influencing herding behavior.Research findings: Based on the results using the Newey-West estimator, three main results were obtained. First, large-cap cryptocurrency investors tend to be irrational in their decisions and follow the decisions of others without reference to their beliefs or herding during the sample period. Second of the two macroeconomic factors studied, i.e., inflation and interest rates, only changes in inflation rates influence investor herding behavior. Third, the market is inefficient with the proven tendency of herding behavior in large-cap cryptocurrencies.Practical and Theoretical contribution/Originality: This study narrows down the research of previous studies by using cryptocurrency research objects with a large market capitalization (large cap). In addition, this research extends the research of previous studies by considering external factors related to macroeconomic conditions in Indonesia in general, such as the inflation rate and the interest rate. This study can provide information about financial behavior in the cryptocurrency market, especially herding behavior, so that investors and policymakers can be assisted in formulating investment strategies and regulating cryptocurrencies.Research limitation: This research was limited to using only cryptocurrency assets by not using crypto-tokens, non-fungible tokens (NFT), and other crypto-assets.