Bert-Jan Butijn, Damian A. Tamburri, Willem‐Jan van den Heuvel
In recent years, the UK railway industry has struggled with the effects of poor integration of data across ICT systems, particularly when that data is being used across organizational boundaries. Technical progress is being made by the industry towards enabling data sharing, but an open issue remains around how the costs of gathering and maintaining pooled information can be fairly attributed across the stakeholders who draw on that shared resource. This issue is particularly significant in areas such as Remote Condition Monitoring, where the ability to analyse the network at a whole-systems level is being blocked by the business cases around the purchase of systems as silos. Blockchains are an emerging technology that have the potential to revolutionize the management of transactions in a number of industrial sectors. This chapter will address the outstanding issues around the fair attribution of costs and benefits of data sharing in the rail industry by proposing blockchains as a forth enabler of the rail data revolution, alongside ESB, ontology, and open data.
Purwono Purwono, Alfian Ma’arif, Wahyu Rahmaniar, Qazi Mazhar ul Haq · 6 authors
Blockchain technology has a promising future in a number of industries and enterprises. Formerly connected to virtual currency like Bitcoin, blockchain has evolved into a versatile technology with many applications. In the upcoming years, it is predicted that blockchain will revolutionize a variety of industries, including banking, supply chain management, healthcare, voting systems, and more. The future of blockchain technology depends critically on its ability to increase security and transparency. By providing a decentralized and unchangeable record, eliminating the need for middlemen, and boosting participant confidence, blockchain promotes secure and traceable transactions. This transparency has the potential to transform whole industries by reducing fraud, streamlining processes, and increasing output. Blockchain also has the power to change financial systems. Blockchain-based smart contracts facilitate faster, more efficient transactions by automating and enforcing contractual agreements without the need for middlemen. By enabling speedier cross-border transactions, reducing costs, and boosting financial inclusion, tokenization and blockchain-based digital currencies have the potential to overturn conventional banking institutions. Blockchain’s key attributes, including decentralization, transparency, immutability, and security, make it a desirable choice for a range of organizations. Cross-border payments, trade finance, and smart contracts are just a few of the financial sector processes that blockchain technology has the potential to enhance and automate, lowering costs and increasing productivity. Additionally, the tamper-resistance of blockchain technology can boost transaction security and reliability, allowing for a wider use in traditional financial institutions. Outside of the financial industry, blockchain technology has a lot of promise, particularly in industries like supply chain management, healthcare, energy, intellectual property, and governance. By enabling transparent and traceable transactions, blockchain may improve supply chain efficiency, ensure product authenticity, and boost customer trust. By facilitating the secure exchange of patient data and research data, the decentralized nature of blockchain technology can enhance data security, interoperability, and privacy in the healthcare sector. A more decentralized and sustainable energy ecosystem may be supported by blockchain technology through peer-to-peer energy exchange, grid management, and monitoring of renewable energy certificates in the energy sector. Additionally, blockchain technology has the potential to transform decentralized governance structures, voting procedures, intellectual property rights, and digital identity management. By allowing people to own and manage their digital identities, blockchain can enhance privacy and reduce identity theft. Blockchain-based voting systems can offer transparency, security, and verifiability, thereby increasing voter turnout and public trust in democratic institutions. Blockchain can also enable the secure and transparent management of intellectual property rights, fostering author credit and just compensation.
The financial services sector has seen dramatic technological innovations in
the last several years associated with the “fintech revolution.” Major changes have taken place in channel management, credit card rewards marketing, cryptocurrency, and wealth management, and have influenced consumers’ banking behavior indifferent ways. As a consequence, there has been a growing demand for banks to rethink their business models and operations to adapt to changing consumer behavior and counter the competitive pressure from other banks and non-bank players. In this dissertation, I study consumer behavior related to different aspects of
financial innovation by addressing research questions that are motivated by theory-focused research literature and managerial considerations in business practice. I seek to understand how technology is reshaping financial services, and how financial institutions can leverage big data analytics to create deep insights about consumer behavior for decision support.
A current trend in both retailing and retail financial services aims to match customers to their purchases with the least amount of friction. For depositary institutions this entails enabling customers to deal with their financial affairs, including purchases, through whatever channel the customer chooses (branch, ATM, web, mobile, etc.). For merchants, it entails shipping and delivering the purchase when and how the customer chooses (in store, at a desired location, at a pick-up point, etc.), while settling outstanding financial claims with the different actors involved in the manufacturing, storage, shipping and distribution network. This essay briefly explores the potential use of distributed ledger technology (DLT) to deliver integrated omni-channel solutions
Finance Shared services (FSS) entered the corporate environment in the early 1990’s as \nlarge decentralized firms sought to combine basic transactional processes such as payroll, \npurchasing and accounts payable, and sell back those services at cost to the individual \nbusiness units. As companies extend their presence across borders, it becomes \nincreasingly uneconomical to maintain a duplicate finance and accounting infrastructure \nwithin each country ofoperation. FSS was therefore created to gain advantage in cost \nsavings, standardization of process and to increase efficiency.The study sought to \nestablish the effect of finance shared service on financial performance of manufacturing \nfirms listed at Nairobi securities exchange.The study adopted descriptive research design. \nSecondary Data was obtained from Nairobi Securities Exchange 2007-2013 published \nhandbook. Chi square test was used to analyze association between three years mean of \nReturn on Equity, Earnings per share, Market price per share and Return on Capital \nEmployed for period prior to and after implementation of FSS. The study revealed that \nthere was no association between finance shared service and the financial performance of \nmanufacturing firms listed at the NSE. The study recommends that there is need for \nmanagement to understand and monitor the Costs of operations to ensure that controllable \ncosts are brought minimized with the implementation of FSS since its reduces duplication \nof key processes that were being done in various branches