We study the relationship between Bitcoin and commodities by assessing the ability of Bitcoin to act as a diversifier, hedge, or safe haven against daily movements in commodities in general, and energy commodities in particular. We focus on energy commodities because energy, in the form of electricity, is an essential input in the Bitcoin production. For the entire period, results show that Bitcoin is a strong hedge and a safe-haven against movements in both commodity indices. We further examine whether that ability is also present for non-energy commodities and our analysis show insignificant results when energy commodities are excluded from the general commodity index. We also account for the December 2013 Bitcoin price crash and our results reveal that Bitcoin hedge and safe-haven properties against commodities and energy commodities are only present in the pre-crash period, whereas in the post-crash period Bitcoin is no more than a diversifier. In addition to uncovering the time-varying role of Bitcoin, we highlight the dissimilarity in the dynamic correlations between the extreme downward and extreme upward movements.
Fintech is a term given to financial technology in the digital age. At its core sit the twin concepts of blockchain and distributed ledgers. These technology solutions bring with them the promise of faster, cheaper, more secure and transparent financial transactions over the internet. In a more widely used context, Fintech is conceived and even defined as enabling disruptive innovation in financial markets and financial services. This briefing explains what Fintech is and investigates whether the promise of Fintech is hype or reality. It also highlights the resultant policy implications that are generated by the phenomena and what issues lawmakers should be cognisant of.
The globalization of trade and the organization of work are currently causing a large migratory flow towards the cities. This growth of cities requires new urban planning where digital tools take a preponderant place to capture data and understand and decide in face of changes. These tools however hardly resist to natural disasters, terrorism, accidents, etc. Based on the expertise of the CITI laboratory of INSA Lyon and SC3 of the Industrial University of Santander, we propose to create the ALERT project - Autonomous Liable Emergency service in Real Time - with decentralized, reliable and efficient services, physically close to the citizens, taking decisions locally, in a relevant manner without risk of disconnection with a central authority. These information gathering and decision-making will involve the population with participatory and social approaches.
Masaaki Matsubara, Kiyoko F. AokiâKinoshita, Nobuyuki P. Aoki, Issaku Yamada · 5 authors
Accurate representation of structural ambiguity is important for storing carbohydrate structures containing varying levels of ambiguity in the literature and databases. Although many representations for carbohydrates have been developed in the past, a generalized but discrete representation format did not exist. We had previously developed the Web3 Unique Representation of Carbohydrate Structures (WURCS) in an attempt to define a generalizable and unique linear representation for carbohydrate structures. However, it lacked sufficient rules to uniquely describe ambiguous structures. In this work, we updated WURCS to handle such ambiguous monosaccharide structures. In particular, to handle structural ambiguity around (potential) carbonyl groups incidental to the carbohydrate analysis, we defined a representation of backbone carbons containing atomic-level ambiguity. As a result, we show that WURCS 2.0 can represent a wider variety of carbohydrate structures containing ambiguous monosaccharides, such as those whose ring closure is undefined or whose anomeric information is only known. This new format provides a representation of carbohydrates that was not possible before, and it is currently being used by the International Glycan Structure Repository GlyTouCan.
We introduce blockchains and distributed ledgers and describe their potential applications to money and banking. The analysis compares public and private ledgers and outlines the suitability of various types of ledgers for different purposes. Furthermore, a few historical prototypes of blockchains and distributed ledgers are presented, and results of their hard forking are illustrated. Next, some potential applications of distributed ledgers to trading, clearing and settlement, payments, trade finance, etc. are outlined. Monetary circuits are argued to be natural applications for blockchains. Finally, the role of digital currencies in modern society is articulated and various forms of digital cash, such as central bank issued electronic cash, bank money, bitcoin and P2P money, are compared and contrasted. Keywords: blockchains, distributed ledgers, digital currencies, modern monetary circuit; credit creation banking; interconnected banking network.
Alternatively, shared services can be looked upon as a combination of decentral- ization and centralization. An SSO combines the best of both worlds. It utilizes economies of scale from centralized approaches. It also recognizes local needs and leaves most decision power and control in the business units. Thereby an SSO actually supports a decentralized approach by freeing up local resources to concentrate on core operational activities. An SSO provides the platform to leverage economies of scale and to combine the critical mass of skills. Smaller local units often have a problem in attracting high potentials or sufficiently qualified finance resources. A professional SSO offers a finance environment that helps attract competent finance staff and thereby reduces risk and enhances quality.
Abstract Macro-finance addresses the link between asset prices and economic fluctuations. Many models reflect the same rough idea: the marketâs ability to bear risk is greater in good times, and less in bad times. Models achieve this similar result by quite different mechanisms. I contrast their strengths and weaknesses. I highlight directions for future research, including additional facts to be matched, and limitations of the models that should prod future theoretical work. I describe how macro-finance models can fundamentally alter macroeconomics, by putting time-varying risk premiums and risk-bearing capacity at the center of recessions rather than variation in the interest rate and intertemporal substitution.
In zunehmendem MaĂe wird das Finanzsystem von digitalen Technologien beeinflusst. Welche Potenziale bringen diese neuen Technologien fĂŒr das Geld- und Austauschsystem mit sich? Und wie können diese fĂŒr eine nachhaltige Entwicklung eingesetzt werden?
In recent years, volunteer service in China has made an unprecedented development, but the credibility and traceability of volunteer service time management are confronted with serious challenges. Since traditional time record systems cannot protect the related data security of the volunteers. In this paper, we study the volunteer time record system based on the blockchain technology which is the core technology of bitcoin, unlike bitcoin transaction in our system are not strictly financial - they are used to carry instructions, such as storing, querying, and sharing data. Volunteer service time and activity information recorded by sending the chain transaction. Effective time recognition is guaranteed by smart contract. It can ensure that the volunteer's time is independent of improper human interference, and the fairness of volunteer service, realizes the traceability and transparency of the entire time record process. Then we describe a specific case and use the system we proposed storing the volunteer service time, volunteers' service time can be certified effectively.
Olga Gouveia, Enestor Dos Santos, Santiago Fernåndez de Lis, Alejandro Neut · 5 authors
Los libros contables distribuidos (distributed ledgers, en ingles) constituyen una tecnologĂa que permite una version digitalizada del dinero en efectivo al tiempo que potencialmente mantiene sus cuatro caracterĂsticas principales: la universalidad, el anonimato, la intercambiabilidad entre pares (P2P) y un valor nominal constante.
Alisa Solomonâs Wonder of Wonders opens with two brief stories that, in the hands of another writer, might be mere anecdotes: Fiddler on the Roofâs near-simultaneous invocation in 2011 by political radio talk show host Glenn Beck and Jewish protestors involved with Occupy Wall Street. Indeed, the entire introduction, aptly named âA little bit of this, a little bit of that,â seems at first to dwell on the anecdotal. Before we come to the evolution of the musical Fiddler on the Roof, we are first introduced to kids singing âSabbath Prayerâ at summer camps, interfaith holiday greeting cards featuring Tevye, Augusto Pinochetâs banning of Fiddler in Chile in the mid-1970s, and references to Fiddler in The Simpsons. But, like the modest yet treasured possessions of the residents of Anatevka, thereâs a lot more to these little bits then meets the eye. By page 2, Solomon has already essentially proven her central argumentâthat âFiddler, like no other musical before or since, has seeped into the culture more widely, functioning in sometimes contradictory waysâ (2) as a signifier of various kinds and degrees of Jewishness, a measure of political affiliation, and a mode of Jewish ritual practice, among others. Indeed, Wonder of Wonders tells the story of Fiddler on the Roofâs evolution and cultural impact with an astonishing breadth that is itself proof positive for her argument.The juxtaposition of Glenn Beck and Occupy at the start of the book is no mere anecdote, but a hint of whatâs to come. For this book is not only about how Fiddler on the Roof came into being and its reception, though Solomon does provide a fresh take on that subject. But more than anything else, this is a book about the musicalâs âradiant afterlifeâ as a global cultural phenomenon with âsurprising, enduring, shape-shifting utilityâ (4). It is this shape-shifting quality that Solomon traces most closely, following the trail of each new permutation of Sholem-Aleichemâs original Tevye stories like a magician demonstrating how a simple scarf can change color and texture, become a bird, vanish into thin air, and then suddenly reappear. In Wonder of Wonders, we catch a glimpse of how this beloved, shape-shifting Broadway musical has become part of the worldâs cultural ether, ever ready to meet the changing needs of its audiences.Time and time again, as Solomon demonstrates, Fiddler has morphed anew across a wide range of cultural contexts and locales. From the readers who first loved Tevye in Eastern Europe to the middle schoolers in a controversial Brownsville student production of Fiddler in 1968, from young Polesâ attempts to understand their countryâs past via musical theater to Jewish parents hiring bottle dancers for bar and bat mitzvahs, from Sholem-Aleichemâs years of struggle to bring his work to the Yiddish stage to the Fiddler-themed Judaica and dishware that can be found in synagogue gift shops across the country, Solomon examines it all. In the hands of another writer, these might have been rendered picayune episodes, nothing more than footnotes to the ârealâ story of the Broadway musical. Not so in Wonder of Wonders. Instead, these examples illuminate Fiddlerâs remarkable staying power as something more than just a play with many productions: a cultural touchstone.In Solomonâs capable hands, we readers are thus presented with dozens of incarnations of Tevyeâs story as it is told and retold, deconstructed, reconfigured, and revived over the course of more than a century. Many fine books and articles have been written about Fiddler on the Roof, of course, but no one before Solomon has ever examined Fiddler as a cultural phenomenon with such comprehensive scope. Encompassing not only the expected topics (Sholem Aleichemâs stories, Jerome Robbinsâs feud with Zero Mostel, the casting for the film) but also subjects that have never before been considered vis-Ă -vis their relationship to Fiddler (Hebrew theater in the forties, black-Jewish relations in the sixties, Fiddlerâs impact on contemporary Jewish rituals), this is cultural history at its finest.Like the writers and artists who are her subjects, Solomon knows how to create dramatic tension. The single word that readers are most likely to automatically associate with Fiddler on the Roof (and the title of the showâs signature opening number, âTradition!â), doesnât appear in Wonder of Wonders until well over a hundred pages in, when Jerome Robbins finally realizes what his show is actually about. Solomon thus enables her readers to develop a fresh view of Fiddler on the Roof, one that builds and grows over the course of the book. When Jerome Robbins has his âahaâ moment and realizes that tradition is the heart of the show, we experience the rush of enthusiasm and recognition that must have filled the room along with the creative team. Indeed, a full half of the book covers events that happened before Fiddler even opened on Broadway. By the time we arrive at opening night, the reader has the sense of only just understanding this iconic musical for the first time.Wonder of Wonders is structured in three parts, arranged chronologically. The first set of chapters considers the Yiddish writer Sholem-Aleichem and his authorship of the Tevye stories, his failure to break into the Yiddish theater, and the subsequent work of translators, writers, and artists who garnered visibility for this work among English speakers (Maurice Samuel, Arnold Perl, Frances Butwin, and others). Part 2, âTevye Strikes It Rich,â examines the long process via which Fiddler came to Broadway and its initial reception. But it is part 3, âTevyeâs Travels,â that represents the most significant contribution of this book: Solomonâs careful tracing of how Fiddler on the Roof has, to an extent unique among Broadway musicals, thoroughly permeated the cultural landscape with a broad global audience that includes Jews and non-Jews, and theatergoers and non-theatergoers, within its reach.Solomon displays many talents in these pages: careful researcher, astute scholar, skilled cultural critic. But above all, it is Solomonâs power as a storyteller that is on fullest display. In clever, witty, memorable prose, Solomon introduces us to a vivid cast of characters who at times seem to almost burst forth from the page. On Jerome Robbinsâs goals for Fiddler: â[he] labored mightily to burn away the schmaltz that for two decades had encased the world of the shtetl like amber.â (119) Or on Zero Mostelâs relationship to his mother tongue: âYiddish never stopped gurgling within him; often it spilled out.â (154). Or, about the rivalry between the two men: âIf a time machine could put a story about them on the Yiddish stage of earlier decades, charismatic, outsize Thomashefsky would have to play Mostel and haughty, blazing Jacob Adler would embody Robbinsâ (151). Solomonâs description of the Yiddish theater rivals in chapter 1 is so vivid that she can continue to reference them throughout the book.Indeed, Wonder of Wonders offers the reader a refreshingly rich and nuanced overview of Yiddish literature and the history of the Yiddish stage interwoven with a century of Tevyeâs journeys. The triumph of this book lies in Solomonâs exacting insistence on telling the whole story of Fiddler on the Roof, leaving no stone unturned. To entice the wary reader who may not consider him- or herself interested in such details as the state of Yiddish publishing in the nineteenth century or the history of translations of Sholem-Aleichem, Wonder of Wonders explains the significance of these contextual pieces through superb historical storytelling that makes the fluid and multifaceted relationship between the turn-of-the-century explosion of modern Yiddish culture and Fiddler transparent. Fiddler, in other words, didnât emerge in a vacuum; and Solomon wants to make sure that the reader understands the cultural landscape that birthed Tevyeâs story. Not only does Wonder of Wonders provide a rich mini-history of Yiddish literature, but Solomon also leverages Yiddish sources to demonstrate how Yiddish culture influenced the production itself. For instance, she explores Boris Aronson and Jerome Robbinsâs involvement with Yiddish theater prior to their Broadway careers, and analyzes how their experiences might have influenced particular production choices (like Robbins drawing upon his experience acting in Di brider ashkenazi at Maurice Schwartzâs Yiddish Art Theater for Fiddlerâs wedding scene). Solomon also examines the response to Fiddler in the Yiddish press, which has never before been examined, when considering the Jewish communityâs reaction to the musical. This is, to my knowledge, the first time in musical theater scholarship that a direct, continuous relationship between the Yiddish theater and Fiddler has been suggested, and it is a significant contribution. Solomon is implicitly proposingâquite rightly, I believeâthat Fiddler represents a moment of sharp continuity between the Yiddish stage and Broadway, in which American Jewish theater artists drew directly upon what they had learned early in their careers in the Yiddish theater. This perspective is far too often overlooked, and is a much needed corrective to scholarship that assumes that Yiddish culture was already long gone in postwar America.In sum, Alisa Solomon has written a brilliant, eminently readable, remarkable gem of a book that is so delightful to read that one has the sense of guzzling down her prose, all 448 pages of it. Upon finishing the introduction, my first thought was, âI canât wait to read the rest of this book.â My second thought was, âI canât wait to have my students read this book.â This is no small feat for a hefty, meticulously researched scholarly book, steeped in years of archival research. And yetâwonder of wonders, miracle of miraclesâSolomon pulls it off, this fusion of sophisticated academic argumentation with all of the literary qualities of a page-turner in a manner so seamless that it is nothing short of miraculous.
âWho are you?â may well be the worldâs most frequently asked question. On a website, in a nightclub, at an airport, or in front of a bank counter, everyone wants us to prove that we are who we say we are.
Terrorism, Counterterrorism, and Political Violence
Throughout history, currencies or money have three different uses: means of exchange, unit of accounting, and store of wealth. People have used different types of currencies at different times throughout history. Commodity currencies represented items which are either mined from the Earth or produced by agriculture such as gold or salt. Fiat currencies are created by decree by a sovereign nation or groups of nations. Complementary currencies have been created by much smaller groups of people to solve problems which cannot be solved by commodity currencies or fiat currencies. For example, in times of economic depression when people attempt to hoard money (store wealth) there is often not enough currency to accommodate a means of exchange. With the advent of blockchains and crypto-currencies, it is now possible to easily create complementary currencies to attempt to solve problems which can not be solved using commodity currencies or fiat currencies. This paper discusses and compares two different architectures which are being used in two independent projects in South Africa to create complementary currencies by using the Ethereum blockchain and crypto-currency in order to encourage corporate excellence. It is important to note that this paper is not about the underlying success or failure of the complementary currencies created by the architectures. The paper is about the architectures themselves.
ENGLISH SUMMARY : Procurement has been designed to redress some of the imbalances of the past; however, this policy instrument is being abused in some institutions around the country. This abuse has caught the eye of the Minister of Finance who, a few years ago, appointed a Chief Procurement Officer (CPO). This office of the CPO is within the National Treasury and it is tasked with ensuring that procurement, currently known as supply chain management (SCM), is properly managed. One of the causes of deficiency within the SCM environment is decentralisation. This is a method used by various institutions, including Parliament. Decentralisation means that every office is able to procure its own goods and services. This may result in procedures not being followed properly because the people who are trained in procurement or SCM reside in the SCM office. When procedures are not followed properly, this may result in awards of bids being made incorrectly, leading to irregular expenditure and possibly qualified audit opinions. The National Treasury has established a central database for all suppliers. This may curb some of the inconsistencies currently experienced; however, each institution still procures its own goods and services. In the case of Parliament, the database is not being used yet and with programmes in place that take Parliament to the rural areas, the central database may not be efficient. This study aims to give recommendations to ensure the SCM Section is able to support Parliament in meeting its strategic objectives. The study takes into consideration the unique status of Parliament as a People's Parliament and as such it needs to put people at the centre of its operations. This study also wishes to show that as much as the SCM environment is decentralised in Parliament with the necessary controls in place, there has been an improvement in ensuring that the SCM unit is able to play its strategic support role without compromise.
We propose a new secure online storage scheme based on an open P2P network without a central server. In the proposed scheme, attackers cannot detect target user data in the online storage because the user data is divided into some parts by the secret sharing, and they are distributed to P2P nodes via the anonymous communication. The proposed scheme can prevent the direct attack on the target user node because metadata for the reconstruction also hidden in the online storage, hence nothing remains in the user node. Even if the state of the P2P network varies over time between the storing and restoring operation, the proposed scheme ensures that the user can identify the target nodes which stored his metadata by utilizing the Blockchain technology with only memorable secure information for user authentication. Furthermore, a malicious node to attack on others can be detected and ruled out by the mutual monitoring among the nodes and the majority decision rule.
Utilities have traditionally employed or contracted meter readers to collect natural gas usage data, which is expensive and time consuming, and thus necessitates the need of smart natural gas metering. Existing gas metering systems mainly focus on measuring the amount of gas flowing through an microelectro mechanical system (MEMS) thermal gas flow sensor and simply ignore the detailed gas composition. From computational fluid mechanics simulations, however, we discover that gases with different compositions will cause different effects on the reading of an MEMS sensor. Based on a thorough analysis of the working principle of MEMS thermal gas flow sensor, we propose an innovative mechanism to compensate the errors caused by different types of natural gases on the sensor's reading. The proposed solution first measures the physical property of metered gas to derive the composition correction coefficient that will then be used to correct the meter's reading errors, considering the relation between the calorific value and physical property of natural gases. In this way, the proposed solution realizes a real-time multicomposition gas metering via thermal gas flow sensors. We implement and evaluate the proposed gas metering technique in various Internet of Things systems, including industrial flow metering, gas metering in smart home, and gas metering in low-power wide-area networks. Experiment results verify the innovative design and confirm that the proposed solution features high sensitivity, high precision, and high range ratio.
M. Suguna, R. Anusia, S. Mercy Shalinie, S. Renu Deepti
Mobile cloud computing (MCC) is a platform that allows mobile users to offload the computationally rigorous and storage demanding tasks on available cloud resources using wireless access. The major concern with MCC is the privacy of data. Mobile users give confidential information through the network, that if not safeguarded may lead to security issues. Identity Management (IDM) is the management of user identities, their authentication, and authorization in the cloud environment. The existing Consolidated Identity Management (CIDM) overcomes the network traffic interception in the traditional IDM but is prone to Identity theft in case of Identity Management Server (IDMS) compromise. This work is focused on the development of a Secure Identity Management (SIDM) that alleviates the attacks in the CIDM by using techniques that strengthens the authentication process and identity privacy. A secure IDM is developed using two-step authentication process which involves Zero Knowledge Proof (ZKP) and token verification. The proposed SIDM model reduces the consequences of Identity server compromise attack. There is a marginal increase in the communication overhead of SIDM compared to that of CIDM but it can be compromised to realize the benefits of identity privacy. The analysis of the experimental results shows that there is an overall increase of thirty percent in communication overhead when compared to CIDM.
MarĂa Augusta JĂĄcome LeĂłn, Carla EstefanĂa JĂĄcome Montenegro
The organizational climate in the public institutions like the Autonomous Decentralized
Government of Pujili canton, it has taken a great importance, because it seeks to determine if there is an incidence of this in the labor performance of each one of those who make up this institution, being that it is closely linked with the motivational factors in their work environment. The objective of the research is to determine if there is an incidence between the organizational climate and the work performance of the employees, for which they were analyzed some dimensions such as; internal communication, recognition, interpersonal relationships at work, decision making, commitment, adaptation to change and the physical environment that are fundamental pillars for the institutions that provide services. The research method to be applied will be from the non-exploratory quantitative research approach, descriptive cross-sectional that was used in the survey technique and whose instrument was the measurement of the organizational weather of the authors Chiang, Nunez and Salazar; In addition, we worked with the evaluation of work performance with indicators that measure their performance in the work, this one was qualified by the director of human talent where the collected data were tabulated in the SPSS statistical software. The target population was 78 public servants of indefinite contract. The result obtained from this study is a Pearson correlation coefficient r of -0.053 which is considered as a null relation, this means that the variables of organizational weather and work performance donÂŽt related of directly and indirectly manner. The research generated in the pujili GAD a technical impact from this will have an instrument that allows you to take into consideration the organizational climate and a social impact that it can be visualized between users and servers. The research generated in the Pujili GAD a technical impact from the present will have an instrument that allows it to take into consideration the organizational climate and a social impact that can be visualized between servers and users.
Xavier Bultel, Jannik Dreier, Pascal Lafourcade, Malika More
At the main cryptography conference, CRYPTO, in 1989, Quisquater and colleagues published a paper showing how to explain the complex notion of zero-knowledge proof in a simpler way that children can understand. In the same line of work, this article presents simple and intuitive explanations of various modern security concepts and technologies, including symmetric encryption, public key encryption, homomorphic encryption, intruder models (CPA, CCA1, CCA2), and security properties (OW, IND, NM). The explanations given in this article may also serve in demystifying such complex security notions for non-expert adults.