Conceptualizing Consumer Paradoxes towards the Central Bank Digital Currency ...Selcen Ozturkcan
Ozturkcan, S., "Conceptualizing Consumer Paradoxes towards the Central Bank Digital Currency (CBDC) in the context of COVID-19," AIRSI2021 Conference: Technologies 4.0 in Tourism, Services & Marketing, July 12-14, 2021, University of Zaragoza, Spain.
- Consumer behavior has changed in response to the coronavirus pandemic, with people focusing on essential goods and online activities. Brands should respond by ensuring reliable supply, acting responsibly, and adjusting communications to focus on health, safety, and financial planning.
- Digital marketing strategies like livestreaming can help brands engage with anxious consumers and shift resources from offline to online. Passionation offers livestreaming production capabilities and influencer networks to help brands during this challenging time.
The payments and currency systems are on the verge of disruption. Payments are getting digitized and going mobile, wearable and biometric, while the rise of cryptocurrencies is prompting new ideas about what currency can be. Millennials, not wedded to the status quo when it comes to money, will drive this shift. This report takes a look at the myriad new ways to pay and how the concept of currency is evolving to encompass everything from bitcoin to social media shares. We also spotlight how disruption is opening the way for new players to act as middlemen between consumers and their money, along with results of a survey exploring U.S. and U.K. consumer attitudes toward payments and currency.
Note: This is an abridged version of the 62-page report. Go to JWTIntelligence.com/trendletters to download the full report at no cost.
This document discusses trends in various media and how consumers interact with media. It notes that social networks now have as much traffic as Google and are growing rapidly. Consumers spend many hours daily on activities like social media, emails, texting and searching online. The environment for businesses has changed, with consumers more in control and sharing experiences through social networks and word-of-mouth recommendations. New strategies are needed that focus on personalized, one-to-one customer experiences through social marketing and building continuing customer relationships.
This document discusses how technology is transforming financial services and banking. It provides examples of successful e-banking companies like PayPal and ING Direct. It also discusses the growth opportunities in online payments, mobile banking, and peer-to-peer (P2P) lending, especially in developing countries. The document argues that financial institutions need to fully integrate technology into their strategies in order to continue gaining customers.
The document discusses how FinTech companies are disrupting the banking industry through digital innovation. It provides examples of how FinTechs have impacted various areas like payments, loans, and wealth management by offering more user-friendly and data-driven alternatives to traditional banking services. The document argues that FinTechs are taking market share from banks by focusing only on the most profitable "front office" services while avoiding regulatory burdens. It suggests that within 10 years, only around 100 large global banks may survive this digital disruption of the banking industry by FinTechs.
The document discusses the history and evolution of the Internet of Things (IoT) from its origins in the 1990s to its current applications and future potential. It explores key concepts in IoT like local sensing, data integration, and analytics of connected devices. Examples are provided of how IoT is being implemented in various sectors such as education, healthcare, retail, agriculture, and smart cities. The economic and social benefits of IoT adoption are also highlighted.
The document discusses electronic money and payments as digital alternatives to cash. It aims to deepen understanding of e-money and payments, comprehend related issues and risks, and establish the role of central banks. Recent trends show a diversity of e-money schemes globally, with some successes in Asia for transportation payments and Africa for mobile money transfers. While e-payments are growing in Canada, cash remains prevalent and central banks must mitigate risks to monetary policy from a shrinking balance sheet. The document examines regulatory, consumer protection, and oversight considerations for public policy around e-money.
Conceptualizing Consumer Paradoxes towards the Central Bank Digital Currency ...Selcen Ozturkcan
Ozturkcan, S., "Conceptualizing Consumer Paradoxes towards the Central Bank Digital Currency (CBDC) in the context of COVID-19," AIRSI2021 Conference: Technologies 4.0 in Tourism, Services & Marketing, July 12-14, 2021, University of Zaragoza, Spain.
- Consumer behavior has changed in response to the coronavirus pandemic, with people focusing on essential goods and online activities. Brands should respond by ensuring reliable supply, acting responsibly, and adjusting communications to focus on health, safety, and financial planning.
- Digital marketing strategies like livestreaming can help brands engage with anxious consumers and shift resources from offline to online. Passionation offers livestreaming production capabilities and influencer networks to help brands during this challenging time.
The payments and currency systems are on the verge of disruption. Payments are getting digitized and going mobile, wearable and biometric, while the rise of cryptocurrencies is prompting new ideas about what currency can be. Millennials, not wedded to the status quo when it comes to money, will drive this shift. This report takes a look at the myriad new ways to pay and how the concept of currency is evolving to encompass everything from bitcoin to social media shares. We also spotlight how disruption is opening the way for new players to act as middlemen between consumers and their money, along with results of a survey exploring U.S. and U.K. consumer attitudes toward payments and currency.
Note: This is an abridged version of the 62-page report. Go to JWTIntelligence.com/trendletters to download the full report at no cost.
This document discusses trends in various media and how consumers interact with media. It notes that social networks now have as much traffic as Google and are growing rapidly. Consumers spend many hours daily on activities like social media, emails, texting and searching online. The environment for businesses has changed, with consumers more in control and sharing experiences through social networks and word-of-mouth recommendations. New strategies are needed that focus on personalized, one-to-one customer experiences through social marketing and building continuing customer relationships.
This document discusses how technology is transforming financial services and banking. It provides examples of successful e-banking companies like PayPal and ING Direct. It also discusses the growth opportunities in online payments, mobile banking, and peer-to-peer (P2P) lending, especially in developing countries. The document argues that financial institutions need to fully integrate technology into their strategies in order to continue gaining customers.
The document discusses how FinTech companies are disrupting the banking industry through digital innovation. It provides examples of how FinTechs have impacted various areas like payments, loans, and wealth management by offering more user-friendly and data-driven alternatives to traditional banking services. The document argues that FinTechs are taking market share from banks by focusing only on the most profitable "front office" services while avoiding regulatory burdens. It suggests that within 10 years, only around 100 large global banks may survive this digital disruption of the banking industry by FinTechs.
The document discusses the history and evolution of the Internet of Things (IoT) from its origins in the 1990s to its current applications and future potential. It explores key concepts in IoT like local sensing, data integration, and analytics of connected devices. Examples are provided of how IoT is being implemented in various sectors such as education, healthcare, retail, agriculture, and smart cities. The economic and social benefits of IoT adoption are also highlighted.
The document discusses electronic money and payments as digital alternatives to cash. It aims to deepen understanding of e-money and payments, comprehend related issues and risks, and establish the role of central banks. Recent trends show a diversity of e-money schemes globally, with some successes in Asia for transportation payments and Africa for mobile money transfers. While e-payments are growing in Canada, cash remains prevalent and central banks must mitigate risks to monetary policy from a shrinking balance sheet. The document examines regulatory, consumer protection, and oversight considerations for public policy around e-money.
E Naira Digital Currency and Financial Performance of Listed Deposit Money Ba...ijtsrd
Background A digital currency is a means of payment or money that exists in a purely electronic form, issued and regulated by the nation’s monetary authority, or central bank, and backed by the government. Nigeria’s E Naira digital currency was launched as at 1st October, 2021 and will be in the digital form of Naira and be used just like cash.Aim This study was carried out to examine the relationship between E Naira Digital Currency and Financial Performance of Listed Deposit Money Banks in Nigeria. Materials and Methods The study employed survey design in the analysis. A hypothesis was formulated to guide the investigation and the statistical test of parameter estimates was conducted using Kendall’s Coefficient of Concordance. Primary data was used in the study and was obtained through questionnaire survey administered to the staff of those banks with international authorization and commercial banking license i.e Zenith Bank Plc, Access Bank Plc, UBA Plc, Union Bank Plc, Gtbank Plc, Fidelity Bank Plc, FCMB Plc and First Bank Plc within Awka Metropolis. Results Using Kendall’s Coefficient of Concordance, the findings of the study generally indicated that E Naira Digital Currency has positive and significant relationship with financial performance in the bank of industry at 1 significant level. Conclusion The study concludes that the adoption of Central Bank Digital Currency CBDC has significant relationship with financial performance of listed deposit money banks in Nigeria. Recommendation Hence, the study suggests that monetary authorities and deposit money banks should enlighten their customers on the benefits and importance of using E Naira Digital Currency as it reduces the cost of processing cash, improves the availability and usability of Central Bank money and also increases the revenue generation of the nation. The study contributed to knowledge by introducing a new variable E Naira Digital Currency and also updated literature on the subject. Obiora Fabian. | Omaliko Emeka | Okeke Chinenye, J "E-Naira Digital Currency and Financial Performance of Listed Deposit Money Banks in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-2 , February 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49206.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/49206/enaira-digital-currency-and-financial-performance-of-listed-deposit-money-banks-in-nigeria/obiora-fabian
Summary based on Deloitte's CEE Fintech Report 2016
Source: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/central-europe/ce-fintech-in-cee-region-2016.pdf
The document discusses central bank digital currencies (CBDCs) based on lessons learned from global CBDC efforts and pilots. It provides an overview of key CBDC concepts and definitions. It then summarizes Accenture's work on three CBDC pilots - an e-Krona pilot with the Swedish central bank exploring a retail CBDC, Project Jura with several central banks exploring cross-border CBDC settlements, and Project Khokha II with the South African central bank exploring CBDC policy implications. The document concludes with a brief outlook on European and global CBDC developments.
The Role of RBI on Implementation of Digital Currencies in Indiaijtsrd
In the present technological world, technology provided many advances and the widespread use of the Internet, various digital currencies have emerged. In most cases, Internet platforms such as Face book and Amazon restrict the functionality of their digital currencies to enhance the business model and maximize their profits. While platform based digital currencies would increase the efficiency of retail payments, they could also raise some important policy issues if they were to become widely used outside of the platform. Thus, it is important to closely monitor the evolution of these digital currencies. Dr. Rajendra Prasad G R "The Role of RBI on Implementation of Digital Currencies in India" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd52108.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/52108/the-role-of-rbi-on-implementation-of-digital-currencies-in-india/dr-rajendra-prasad-g-r
Patent Blockchain People Bank of China (PBOC)Rein Mahatma
The document discusses over 80 patent applications filed by the People's Bank of China related to the country's planned digital currency (DC/EP). The patents cover many aspects of the digital currency system, including its issuance, circulation, management, investment/financing functions, transactions, and relationship to blockchain technology. The DC/EP system is proposed as a two-tiered structure where the central bank issues currency to commercial banks, and commercial banks issue it to individuals and businesses. The patents provide technical details on functions like digital wallets, payments, exchanges between digital and physical currencies, and rules for the currency's usage and flow in the economy.
The article discusses differences in cash usage and costs across Europe based on reports from the European Central Bank and Riksbanken. It finds that northern European countries like Sweden, Denmark and Norway use significantly less cash than southern and eastern European countries. While cash remains dominant in places like Greece, Romania and Italy, those northern countries have among the highest use of payment cards. The costs of cash payments are also generally higher in northern Europe due to lower usage, while southern/eastern Europe sees lower costs per cash transaction currently. The conclusion is that Europe remains varied in its use and costs of cash versus digital payments.
A digital currency ( digital currency , electronic money, electronic currency, digital
money, electronic money (meaning different from Japanese English electronic
money ), electronic currency) is a currency , money, or money. It refers to all assets
such as , and is mainly managed, stored, and exchanged mainly over the Internet in
digital computer systems.
The Bank of Ghana has disclosed that the eCedi, the Central Bank Digital Currency which it intends to issue will be free of transaction charges to consumers just as in the usage of cash.
Central Bank Digital Currencies (CBDCs) are being explored by central banks globally as interest in digital currencies grows. The document discusses key drivers for CBDCs including improving payment efficiencies, financial inclusion and enhancing monetary policy. It provides an overview of CBDC projects underway in various countries and regions, with China, Cambodia, the Bahamas, Eastern Caribbean and Nigeria having implemented live CBDCs. The models vary in terms of technology used, offline usability and transaction limits.
Blockchain the inception of a new database of everything by dinis guarda bloc...Dinis Guarda
Blockchain the inception of a new database of everything by Dinis Guarda blockchain age
Trends and questions?
1. Redefinition of banking and relation with Blockchain
Mobile App banking finance – mobile ledgers – blockchain identity
New products and the emergence of DAO products.
2. System Legacies in paralel with advanced tech - Ethereum.
3. Distribution Strategy in a new Digitalised World who own what.
4. Super computer Cloud base blochcain solutions / infrastructure.
5. Emergence of AI IOE in relation with blockchain all connected.
6. User Experience, UI, UE, Big data and the IOE blockchain touching.
7. Blockchain Cyber Security and Value Reinvention.
This document summarizes challenges in the global payments industry and emerging trends. Cash is still widely used for small transactions but declining as electronic payments rise. Cheque usage is also declining in most countries. Electronic bank transfers like debit and credit are gaining popularity, especially for business-to-consumer and government payments. Regulations and technologies are driving changes like SEPA in Europe and real-time payment systems provide faster access to funds. The payments landscape is transforming rapidly under these forces.
Digital Disruption Nordic Retail Banking_10june_digitalIlkka Ruotsila
1) Digital disruption is rapidly impacting the Nordic banking industry as customer expectations are being driven by digital technologies and new digital entrants are addressing customer needs in new ways.
2) A study found that one third of Nordic bank revenues are at risk due to lost market share and pressure from both global and local digital disruptors attacking the entire banking value chain.
3) While Nordic banks recognize the threat, most lack a clear digital strategy and transformation plan to evolve their business models, putting more of their revenues at risk from digital disruption.
NanoBanco is the access to a new financial system powered by digital assets.
Is a new financial ecosystem oriented to Latin America that allows the inclusion of people generating social impact in the region.
Is a new concept of neobank with the main objective of financial inclusion in Latin America, generating a social impact and helping people to manage their money through a digital wallet that works with blockchain technology integrating digital assets (cryptocurrencies) to allow users make P2P money transfers between countries through the wallet in real time and at a very low cost compared to the options currently offered on the market.
This document summarizes a research paper that investigates the problems and opportunities of electronic banking in Sudan. The paper begins with an introduction that defines electronic banking and outlines its benefits. It then reviews previous literature on the topic, particularly as it relates to developing countries and the Arab world. The paper discusses the current state of information and communication technology infrastructure in Sudan and identifies deficiencies in areas like skilled human resources, security, and infrastructure that constrain electronic banking. It concludes that while Sudan has made some progress with laws and regulations, many challenges remain that limit the applicability of electronic banking.
Central banks and the future of digital money. A practical proposal for centr...eraser Juan José Calderón
Central banks and the future of digital money
A practical proposal for central bank digital currencies on the Ethereum blockchain.
CONSENSYS WHITE PAPER
The document discusses the potential for cloud banking and argues that it is an inevitable future for the banking industry. It provides examples of banks that have already adopted various cloud solutions and services. While there are challenges to cloud adoption like security, regulation and legacy systems, the cloud can provide benefits to banks like scalability, cost reductions, and improved customer experiences. Overall, the cloud appears to be an important technology for banks to embrace as customer demands and the competitive landscape evolves.
Konstantins Vasilenko gave a talk about current Bitcoin scalability challenges, existing and upcoming solutions, as well as insights about Bitcoin adoption and why it's not yet widely used as a payment instrument.
Mending Clothing to Support Sustainable Fashion_CIMaR 2024.pdfSelcen Ozturkcan
Ozturkcan, S., Berndt, A., & Angelakis, A. (2024). Mending clothing to support sustainable fashion. Presented at the 31st Annual Conference by the Consortium for International Marketing Research (CIMaR), 10-13 Jun 2024, University of Gävle, Sweden.
Mastering Digital Media Literacy: Navigating Information in the Digital AgeSelcen Ozturkcan
- Critically evaluate digital media: Identify trustworthy sources and detect bias and (mis/dis)misinformation.
- Consume digital media ethically: Engage responsibly online and understand media's societal impact.
- Utilize digital media literacy tools: Use fact-checking websites and frameworks to verify information.
More Related Content
Similar to Digital national currency: coming soon to a market near you
E Naira Digital Currency and Financial Performance of Listed Deposit Money Ba...ijtsrd
Background A digital currency is a means of payment or money that exists in a purely electronic form, issued and regulated by the nation’s monetary authority, or central bank, and backed by the government. Nigeria’s E Naira digital currency was launched as at 1st October, 2021 and will be in the digital form of Naira and be used just like cash.Aim This study was carried out to examine the relationship between E Naira Digital Currency and Financial Performance of Listed Deposit Money Banks in Nigeria. Materials and Methods The study employed survey design in the analysis. A hypothesis was formulated to guide the investigation and the statistical test of parameter estimates was conducted using Kendall’s Coefficient of Concordance. Primary data was used in the study and was obtained through questionnaire survey administered to the staff of those banks with international authorization and commercial banking license i.e Zenith Bank Plc, Access Bank Plc, UBA Plc, Union Bank Plc, Gtbank Plc, Fidelity Bank Plc, FCMB Plc and First Bank Plc within Awka Metropolis. Results Using Kendall’s Coefficient of Concordance, the findings of the study generally indicated that E Naira Digital Currency has positive and significant relationship with financial performance in the bank of industry at 1 significant level. Conclusion The study concludes that the adoption of Central Bank Digital Currency CBDC has significant relationship with financial performance of listed deposit money banks in Nigeria. Recommendation Hence, the study suggests that monetary authorities and deposit money banks should enlighten their customers on the benefits and importance of using E Naira Digital Currency as it reduces the cost of processing cash, improves the availability and usability of Central Bank money and also increases the revenue generation of the nation. The study contributed to knowledge by introducing a new variable E Naira Digital Currency and also updated literature on the subject. Obiora Fabian. | Omaliko Emeka | Okeke Chinenye, J "E-Naira Digital Currency and Financial Performance of Listed Deposit Money Banks in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-2 , February 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49206.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/49206/enaira-digital-currency-and-financial-performance-of-listed-deposit-money-banks-in-nigeria/obiora-fabian
Summary based on Deloitte's CEE Fintech Report 2016
Source: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/central-europe/ce-fintech-in-cee-region-2016.pdf
The document discusses central bank digital currencies (CBDCs) based on lessons learned from global CBDC efforts and pilots. It provides an overview of key CBDC concepts and definitions. It then summarizes Accenture's work on three CBDC pilots - an e-Krona pilot with the Swedish central bank exploring a retail CBDC, Project Jura with several central banks exploring cross-border CBDC settlements, and Project Khokha II with the South African central bank exploring CBDC policy implications. The document concludes with a brief outlook on European and global CBDC developments.
The Role of RBI on Implementation of Digital Currencies in Indiaijtsrd
In the present technological world, technology provided many advances and the widespread use of the Internet, various digital currencies have emerged. In most cases, Internet platforms such as Face book and Amazon restrict the functionality of their digital currencies to enhance the business model and maximize their profits. While platform based digital currencies would increase the efficiency of retail payments, they could also raise some important policy issues if they were to become widely used outside of the platform. Thus, it is important to closely monitor the evolution of these digital currencies. Dr. Rajendra Prasad G R "The Role of RBI on Implementation of Digital Currencies in India" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd52108.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/52108/the-role-of-rbi-on-implementation-of-digital-currencies-in-india/dr-rajendra-prasad-g-r
Patent Blockchain People Bank of China (PBOC)Rein Mahatma
The document discusses over 80 patent applications filed by the People's Bank of China related to the country's planned digital currency (DC/EP). The patents cover many aspects of the digital currency system, including its issuance, circulation, management, investment/financing functions, transactions, and relationship to blockchain technology. The DC/EP system is proposed as a two-tiered structure where the central bank issues currency to commercial banks, and commercial banks issue it to individuals and businesses. The patents provide technical details on functions like digital wallets, payments, exchanges between digital and physical currencies, and rules for the currency's usage and flow in the economy.
The article discusses differences in cash usage and costs across Europe based on reports from the European Central Bank and Riksbanken. It finds that northern European countries like Sweden, Denmark and Norway use significantly less cash than southern and eastern European countries. While cash remains dominant in places like Greece, Romania and Italy, those northern countries have among the highest use of payment cards. The costs of cash payments are also generally higher in northern Europe due to lower usage, while southern/eastern Europe sees lower costs per cash transaction currently. The conclusion is that Europe remains varied in its use and costs of cash versus digital payments.
A digital currency ( digital currency , electronic money, electronic currency, digital
money, electronic money (meaning different from Japanese English electronic
money ), electronic currency) is a currency , money, or money. It refers to all assets
such as , and is mainly managed, stored, and exchanged mainly over the Internet in
digital computer systems.
The Bank of Ghana has disclosed that the eCedi, the Central Bank Digital Currency which it intends to issue will be free of transaction charges to consumers just as in the usage of cash.
Central Bank Digital Currencies (CBDCs) are being explored by central banks globally as interest in digital currencies grows. The document discusses key drivers for CBDCs including improving payment efficiencies, financial inclusion and enhancing monetary policy. It provides an overview of CBDC projects underway in various countries and regions, with China, Cambodia, the Bahamas, Eastern Caribbean and Nigeria having implemented live CBDCs. The models vary in terms of technology used, offline usability and transaction limits.
Blockchain the inception of a new database of everything by dinis guarda bloc...Dinis Guarda
Blockchain the inception of a new database of everything by Dinis Guarda blockchain age
Trends and questions?
1. Redefinition of banking and relation with Blockchain
Mobile App banking finance – mobile ledgers – blockchain identity
New products and the emergence of DAO products.
2. System Legacies in paralel with advanced tech - Ethereum.
3. Distribution Strategy in a new Digitalised World who own what.
4. Super computer Cloud base blochcain solutions / infrastructure.
5. Emergence of AI IOE in relation with blockchain all connected.
6. User Experience, UI, UE, Big data and the IOE blockchain touching.
7. Blockchain Cyber Security and Value Reinvention.
This document summarizes challenges in the global payments industry and emerging trends. Cash is still widely used for small transactions but declining as electronic payments rise. Cheque usage is also declining in most countries. Electronic bank transfers like debit and credit are gaining popularity, especially for business-to-consumer and government payments. Regulations and technologies are driving changes like SEPA in Europe and real-time payment systems provide faster access to funds. The payments landscape is transforming rapidly under these forces.
Digital Disruption Nordic Retail Banking_10june_digitalIlkka Ruotsila
1) Digital disruption is rapidly impacting the Nordic banking industry as customer expectations are being driven by digital technologies and new digital entrants are addressing customer needs in new ways.
2) A study found that one third of Nordic bank revenues are at risk due to lost market share and pressure from both global and local digital disruptors attacking the entire banking value chain.
3) While Nordic banks recognize the threat, most lack a clear digital strategy and transformation plan to evolve their business models, putting more of their revenues at risk from digital disruption.
NanoBanco is the access to a new financial system powered by digital assets.
Is a new financial ecosystem oriented to Latin America that allows the inclusion of people generating social impact in the region.
Is a new concept of neobank with the main objective of financial inclusion in Latin America, generating a social impact and helping people to manage their money through a digital wallet that works with blockchain technology integrating digital assets (cryptocurrencies) to allow users make P2P money transfers between countries through the wallet in real time and at a very low cost compared to the options currently offered on the market.
This document summarizes a research paper that investigates the problems and opportunities of electronic banking in Sudan. The paper begins with an introduction that defines electronic banking and outlines its benefits. It then reviews previous literature on the topic, particularly as it relates to developing countries and the Arab world. The paper discusses the current state of information and communication technology infrastructure in Sudan and identifies deficiencies in areas like skilled human resources, security, and infrastructure that constrain electronic banking. It concludes that while Sudan has made some progress with laws and regulations, many challenges remain that limit the applicability of electronic banking.
Central banks and the future of digital money. A practical proposal for centr...eraser Juan José Calderón
Central banks and the future of digital money
A practical proposal for central bank digital currencies on the Ethereum blockchain.
CONSENSYS WHITE PAPER
The document discusses the potential for cloud banking and argues that it is an inevitable future for the banking industry. It provides examples of banks that have already adopted various cloud solutions and services. While there are challenges to cloud adoption like security, regulation and legacy systems, the cloud can provide benefits to banks like scalability, cost reductions, and improved customer experiences. Overall, the cloud appears to be an important technology for banks to embrace as customer demands and the competitive landscape evolves.
Konstantins Vasilenko gave a talk about current Bitcoin scalability challenges, existing and upcoming solutions, as well as insights about Bitcoin adoption and why it's not yet widely used as a payment instrument.
Similar to Digital national currency: coming soon to a market near you (20)
Mending Clothing to Support Sustainable Fashion_CIMaR 2024.pdfSelcen Ozturkcan
Ozturkcan, S., Berndt, A., & Angelakis, A. (2024). Mending clothing to support sustainable fashion. Presented at the 31st Annual Conference by the Consortium for International Marketing Research (CIMaR), 10-13 Jun 2024, University of Gävle, Sweden.
Mastering Digital Media Literacy: Navigating Information in the Digital AgeSelcen Ozturkcan
- Critically evaluate digital media: Identify trustworthy sources and detect bias and (mis/dis)misinformation.
- Consume digital media ethically: Engage responsibly online and understand media's societal impact.
- Utilize digital media literacy tools: Use fact-checking websites and frameworks to verify information.
The Evolution of Money-Digital Transformation and CBDCs in Central BankingSelcen Ozturkcan
Understand the drivers of digital transformation in central banks roles and responsibilities.
Identify the potential benefits and risks of CBDCs.
Examine the contemporary situation in Sweden.
Challenges and Opportunities with Digital TransformationSelcen Ozturkcan
The definition of digital transformation.
The interplay between digitization and digitalization.
The framework of digital transformation, including its antecedents and consequences.
The key elements and significance of digital transformation.
The challenges and opportunities it entails.
Robot Yönetimi: Geleceğin İş Dünyasına HazırlanmakSelcen Ozturkcan
Ozturkcan, S. (2023). Robot Yönetimi: Geleceğin İş Dünyasına Hazırlanmak (Robot Management: Preparing for the Future of Business). Keynote Speech at the International Business Congress, 7-9 September 2003, Nişantaşı University, Istanbul, Turkey.
Mapping the landscape of service robots in hospitality: A bibliometric analysisSelcen Ozturkcan
Ozturkcan, S., & Merdin-Uygur, E. (2023). Mapping the landscape of service robots in hospitality: A bibliometric analysis. 4th International Hospitality Conference on Hospitality Robotics: Engineering, Experience, Ethics, 8-9 Jun 2023, Amsterdam, the Netherlands.
Navigating the New Norm in Restaurants: To continue (or not) with the QR-code...Selcen Ozturkcan
Makul, S., Ozturkcan, S., Kitapci, O., & Merdin-Uygur, E. (2023). Navigating the new norm in restaurants: To continue (or not) with the QR- code menus. Paper presented at the AIRSI2023 The Metaverse Conference, 15-17 May 2023, University of Zaragoza, Spain.
Ozturkcan, S., Merdin-Uygur, E., Yilmaz, F., & Ince, O. (2023). Human-robot partners in healthcare services. Paper presented at the AIRSI2023 The Metaverse Conference, 15-17 May 2023, University of Zaragoza, Spain.
Complications in big data-based communication in the wake of COVID-19: A comp...Selcen Ozturkcan
Johnson, E., R., Martínez, M. C., and Ozturkcan, S., "Complications in big data-based communication in the wake of COVID-19: A comparison of North American and Nordic practices of multinational healthcare corporations," Engineering and Technology Management Summit 2022, 20-21 Oct 2022, Istanbul, Turkey.
Conceptualizing Opportunities and Challenges Relevant to the Inclusion of Hum...Selcen Ozturkcan
This document discusses the opportunities and challenges of including humanoid service robots during the COVID-19 pandemic. It notes that the pandemic accelerated the adoption of service robots as they can perform tasks like food delivery contact-free. However, they also present challenges like potentially replacing human jobs. The document also discusses how anthropomorphism, or making robots appear human-like, can both help with social connection but also risk the "uncanny valley" effect. It concludes that while acceptance of humanoid robots grew during the pandemic, challenges remain regarding responsible development and policy.
Central Bank Digital Currency in the Context of Covid-19: What the Future Hol...Selcen Ozturkcan
Ozturkcan, S., "Central Bank Digital Currency in the Context of Covid-19: What the Future Holds for Marketers and Consumers?" Annual Conference of the Academy of Marketing: Reframing Marketing Priorities, July 5-7, 2021, Online.
Conceptualizing Opportunities and Challenges Relevant to the Inclusion of Hum...Selcen Ozturkcan
Ozturkcan, S., and Merdin-Uygur, E., "Conceptualizing Opportunities and Challenges Relevant to the Inclusion of Humanoid Service Robots in the Context of COVID-19," 5th International Conference on Human Interaction and Emerging Technologies (IHIET 2021), August 27-29, 2021, Paris, France.
Ozturkcan, S., "The Deadly Gamification Challenge of #BlueWhale," ArtsIT 2019 – 8th EAI International Conference: ArtsIT, Interactivity & Game Creation, Nov 6-8, 2019, Aalborg, Denmark.
Will robots conquer services? Attitudes towards anthropomorphic service robotsSelcen Ozturkcan
Cite as:
Ozturkcan, S. & Merdin-Uygur, E. "Will robots conquer services? Attitudes towards anthropomorphic service robots," 9th International Research Symposium in Service Management (IRSSM-9), July 23-27, 2018, Ljubljana, Slovenia.
This document discusses the growth of eSports and outlines some key points about the industry. It notes that eSports viewership for finals events has reached over 30 million unique viewers. Popular eSports genres include real-time strategy, first person shooters, and multiplayer online battle arenas. Professional eSports players can earn salaries and prize money from competitions and practice 8-10 hours per day. The eSports industry is generating significant revenue from sponsorships, advertising, signing professional players and teams, building eSports arenas, and investments from companies. ESports programs are now being offered at many universities around the world.
Konu: 4.Sanayi Devrimi
Konuşmacı: Doç.Dr.Selcen Öztürkcan
Etkinlik: ODTÜ Malzeme Bilimi ve Metalurji Mühendisliği 50.Kuruluş Yıldönümü Etkinleri, 29 Haziran 2016, Ankara
The document discusses 10 common myths about online learning. It addresses each myth, stating whether it is true or false. Some key points:
Myth 1 and 2 are false - students can learn as much or more online through adapted learning experiences and social interaction promotes connection not isolation.
Myth 3 is true - developing an online course takes more initial time than a face-to-face class due to additional elements like videos and online activities.
Myths 4, 5, and 6 are false - instructors can provide personal attention online through virtual office hours, discussions promote more interaction than face-to-face classes, and online teaching employs diverse methods so does not always take more time.
Myths
How to write a TUBITAK 1001 Research Project Proposal?Selcen Ozturkcan
How to write a successful TUBITAK 1001 research project proposal?
TUBITAK 1001 Proje Basvurusu nasıl hazırlanır?
by Assoc. Prof. Selcen Ozturkcan (Istanbul Bilgi University)
presented at TTO Event of Ozyegin University on Jan 2014
A comprehensive-study-of-biparjoy-cyclone-disaster-management-in-gujarat-a-ca...Samirsinh Parmar
Disaster management;
Cyclone Disaster Management;;
Biparjoy Cyclone Case Study;
Meteorological Observations;
Best practices in Disaster Management;
Synchronization of Agencies;
GSDMA in Cyclone disaster Management;
History of Cyclone in Arabian ocean;
Intensity of Cyclone in Gujarat;
Cyclone preparedness;
Miscellaneous observations - Biparjoy cyclone;
Role of social Media in Disaster Management;
Unique features of Biparjoy cyclone;
Role of IMD in Biparjoy Prediction;
Lessons Learned; Disaster Preparedness; published paper;
Case study; for disaster management agencies; for guideline to manage cyclone disaster; cyclone management; cyclone risks; rescue and rehabilitation for cyclone; timely evacuation during cyclone; port closure; tourism closure etc.
Neal Elbaum Shares Top 5 Trends Shaping the Logistics Industry in 2024Neal Elbaum
In the ever-evolving world of logistics, staying ahead of the curve is crucial. Industry expert Neal Elbaum highlights the top five trends shaping the logistics industry in 2024, offering valuable insights into the future of supply chain management.
Maximize Your Efficiency with This Comprehensive Project Management Platform ...SOFTTECHHUB
In today's work environment, staying organized and productive can be a daunting challenge. With multiple tasks, projects, and tools to juggle, it's easy to feel overwhelmed and lose focus. Fortunately, liftOS offers a comprehensive solution to streamline your workflow and boost your productivity. This innovative platform brings together all your essential tools, files, and tasks into a single, centralized workspace, allowing you to work smarter and more efficiently.
m249-saw PMI To familiarize the soldier with the M249 Squad Automatic Weapon ...LinghuaKong2
M249 Saw marksman PMIThe Squad Automatic Weapon (SAW), or 5.56mm M249 is an individually portable, gas operated, magazine or disintegrating metallic link-belt fed, light machine gun with fixed headspace and quick change barrel feature. The M249 engages point targets out to 800 meters, firing the improved NATO standard 5.56mm cartridge.The SAW forms the basis of firepower for the fire team. The gunner has the option of using 30-round M16 magazines or linked ammunition from pre-loaded 200-round plastic magazines. The gunner's basic load is 600 rounds of linked ammunition.The SAW was developed through an initially Army-led research and development effort and eventually a Joint NDO program in the late 1970s/early 1980s to restore sustained and accurate automatic weapons fire to the fire team and squad. When actually fielded in the mid-1980s, the SAW was issued as a one-for-one replacement for the designated "automatic rifle" (M16A1) in the Fire Team. In this regard, the SAW filled the void created by the retirement of the Browning Automatic Rifle (BAR) during the 1950s because interim automatic weapons (e.g. M-14E2/M16A1) had failed as viable "base of fire" weapons.
Early in the SAW's fielding, the Army identified the need for a Product Improvement Program (PIP) to enhance the weapon. This effort resulted in a "PIP kit" which modifies the barrel, handguard, stock, pistol grip, buffer, and sights.
The M249 machine gun is an ideal complementary weapon system for the infantry squad platoon. It is light enough to be carried and operated by one man, and can be fired from the hip in an assault, even when loaded with a 200-round ammunition box. The barrel change facility ensures that it can continue to fire for long periods. The US Army has conducted strenuous trials on the M249 MG, showing that this weapon has a reliability factor that is well above that of most other small arms weapon systems. Today, the US Army and Marine Corps utilize the license-produced M249 SAW.
Originally presented at XP2024 Bolzano
While agile has entered the post-mainstream age, possibly losing its mojo along the way, the rise of remote working is dealing a more severe blow than its industrialization.
In this talk we'll have a look to the cumulative effect of the constraints of a remote working environment and of the common countermeasures.
This presentation, "The Morale Killers: 9 Ways Managers Unintentionally Demotivate Employees (and How to Fix It)," is a deep dive into the critical factors that can negatively impact employee morale and engagement. Based on extensive research and real-world experiences, this presentation reveals the nine most common mistakes managers make, often without even realizing it.
The presentation begins by highlighting the alarming statistic that 70% of employees report feeling disengaged at work, underscoring the urgency of addressing this issue. It then delves into each of the nine "morale killers," providing clear explanations and illustrative examples.
1. Ignoring Achievements: The presentation emphasizes the importance of recognizing and rewarding employees' efforts, tailored to their individual preferences.
2. Bad Hiring/Promotions & Broken Promises: It reveals the detrimental effects of poor hiring and promotion decisions, along with the erosion of trust that results from broken promises.
3. Treating Everyone Equally & Tolerating Poor Performance: This section stresses the need for fair treatment while acknowledging that employees have different needs. It also emphasizes the importance of addressing poor performance promptly.
4. Stifling Growth & Lack of Interest: The presentation highlights the importance of providing opportunities for learning and growth, as well as showing genuine care for employees' well-being.
5. Unclear Communication & Micromanaging: It exposes the frustration and resentment caused by vague expectations and excessive control, advocating for clear communication and employee empowerment.
The presentation then shifts its focus to the power of recognition and empowerment, highlighting how a culture of appreciation can fuel engagement and motivation. It provides actionable takeaways for managers, emphasizing the need to stop demotivating behaviors and start actively fostering a positive workplace culture.
The presentation concludes with a strong call to action, encouraging viewers to explore the accompanying blog post, "9 Proven Ways to Crush Employee Morale (and How to Avoid Them)," for a more in-depth analysis and practical solutions.
Designing and Sustaining Large-Scale Value-Centered Agile Ecosystems (powered...Alexey Krivitsky
Is Agile dead? It depends on what you mean by 'Agile'. If you mean that the organizations are not getting the promised benefits because they were focusing too much on the team-level agile "ways of working" instead of systemic global improvements -- then we are in agreement. It is a misunderstanding of Agility that led us down a dead-end. At Org Topologies, we see bright sparks -- the signs of the 'second wave of Agile' as we call it. The emphasis is shifting towards both in-team and inter-team collaboration. Away from false dichotomies. Both: team autonomy and shared broad product ownership are required to sustain true result-oriented organizational agility. Org Topologies is a package offering a visual language plus thinking tools required to communicate org development direction and can be used to help design and then sustain org change aiming at higher organizational archetypes.
From Concept to reality : Implementing Lean Managements DMAIC Methodology for...Rokibul Hasan
The Ready-Made Garments (RMG) industry in Bangladesh is a cornerstone of the economy, but increasing costs and stagnant productivity pose significant challenges to profitability. This study explores the implementation of Lean Management in the Sampling Section of RMG factories to enhance productivity. Drawing from a comprehensive literature review, theoretical framework, and action research methodology, the study identifies key areas for improvement and proposes solutions.
Through the DMAIC approach (Define, Measure, Analyze, Improve, Control), the research identifies low productivity as the primary problem in the Sampling Section, with a PPH (Productivity per head) of only 4.0. Using Lean Management techniques such as 5S, Standardized work, PDCA/Kaizen, KANBAN, and Quick Changeover, the study addresses issues such as pre and post Quick Changeover (QCO) time, improper line balancing, and sudden plan changes.
The research employs regression analysis to test hypotheses, revealing a significant correlation between reducing QCO time and increasing productivity. With a regression equation of Y = -0.000501X + 6.72 and an R-squared value of 0.98, the study demonstrates a strong relationship between the independent variables (QCO downtime and improper line balancing downtime) and the dependent variable (productivity per head).
The findings suggest that by implementing Lean Management practices and addressing key productivity inhibitors, RMG factories can achieve substantial improvements in efficiency and profitability. The study provides valuable insights for practitioners, policymakers, and researchers seeking to enhance productivity in the RMG industry and similar manufacturing sectors.
Small Business Management An Entrepreneur’s Guidebook 8th edition by Byrd tes...ssuserf63bd7
Small Business Management An Entrepreneur’s Guidebook 8th edition by Byrd test bank.docx
https://qidiantiku.com/test-bank-for-small-business-management-an-entrepreneurs-guidebook-8th-edition-by-mary-jane-byrd.shtml
2. Content
- Introduction to the Digital National Currency
- Information on Scandinavian market and consumer
- Snapshot of Sweden and e-Krona
- Overview of other Global Efforts on Digital National Currency
- Current status in Turkey
- Review of Technology Acceptance in terms of Consumer Adoption
- Discussion of Future Research Orientations and Ideas
4. • Payment method
• only in electronic form
• not tangible
• can be used
• to purchase goods and services
• or restricted to certain online communities (e.g., gaming, social networks)
• can be transferred between
• entities
• users
• allows borderless transfer of ownership as well as instantaneous transactions
What is Digital Currency? also known as
digital money, cyber-cash, e-cash, cryptocurrency
5. CBDC
Central bank
digital currency
also called "Digital Fiat
Currency" or "digital
base money"
https://www.bis.org/cpmi/publ/d174.pdf
Bech, Morten L. and Garratt, Rodney, Central Bank Cryptocurrencies (September 17, 2017). BIS Quarterly Review September 2017
The money flower: a taxonomy of money
7. Coinisseur, Tommaso Mancini-Griffoli,
Deputy Division Chief
Monetary and Capital Markets Department
International Monetary Fund (IMF)
CBDC
• allows individuals to hold liability in a
central bank, instead of commercial
banks
• reduce costs and enable financial
inclusion, particularly in emerging
markets and lower-income countries
• help satisfy costs of maintaining a
payments system
• Currently, Uruguay, Sweden, China,
Ukraine and Eastern Carribean
Central Bank are the notable central
banks around the world, either
exploring or piloting a central bank
digital currency.
https://www.imf.org/en/Publications/Policy-Papers/Issues/2019/06/27/Fintech-The-Experience-So-Far-47056
https://businessblockchainhq.com/business-blockchain-news/imf-discusses-central-bank-digital-currency-developments/
Jun-Jul 2019
10. Cash withdrawals and cashless transaction per capita (2017)
https://www2.deloitte.com/content/dam/Deloitte/dk/Documents/financial-services/Downloads/Chasing_Cashless-The_rise_of_Mobile_Wallets_in_the_Nordics.pdf
15. Mobile in-store and domestic P2P-payments (2018)
https://www2.deloitte.com/content/dam/Deloitte/dk/Documents/financial-services/Downloads/Chasing_Cashless-The_rise_of_Mobile_Wallets_in_the_Nordics.pdf
21. Sweden
• Scandinavian country in northern Europe
• 3rd largest area in the European Union
• population of ~ 10M
• ~USD53k gross domestic product per capita
• 7th richest country in the world
• economy built on engineering, telecommunications,
automotive and pharmaceutical industries
• well developed IT-sector
• has almost as many tech startups as Silicon Valley
https://www.forbes.com/sites/alisoncoleman/2015/10/23/scandinavia-the-coolest-place-for-a-start-up/#28a86a9d32b1
https://www.euractiv.com/section/innovation-industry/news/nordic-countries-lead-eu-in-digital-entrepreneurship/
https://data.worldbank.org/country/sweden
Government goal (2011): “Sweden should become the best in the world
exploiting the opportunities of digitisation”
22. to replace their credit card information, identification, keys, train tickets, among other
everyday items
https://www.zerohedge.com/news/2018-05-18/biohack-thousands-sweden-have-implanted-microchips-under-their-skin
https://nypost.com/2019/07/14/swedish-people-are-getting-chip-implants-to-replace-cash-credit-cards/
Ready to embrace technological novelties
23. Mobile payment services
Dec 12, 2012 midnight: launch of mobile payment Swish (by six banks)
• disruptive innovation in the mobile payment service industry
• succeeded in creating an interoperable service for the Swedish market
• substitute to cash for person-to-person payments
www.getswish.se
https://medium.com/@etiennebr/swish-the-secret-swedish-fintech-payment-company-created-by-nordic-banks-and-used-by-50-of-swedes-cfcf06f59d6f
24. Does Digital Currencies (e.g., Bitcoin) meet
Critical Demands on Payments?
https://www.slideshare.net/AsianProductivityOrganization/future-cashless-society
27. • ensure that the Swedish public has
access to central bank money
• provide a payment infrastructure and
may increase payment system
resilience
• provide a means of payment primarily
between households and firms, it
would be accessible 24/7 and process
payments in real time
https://www.suerf.org/docx/r_ffd2257b586a72d1fa75f4ba2ad914e6_5175_suerf.pdf
retail payments and cashless society
use of paper cash is quickly dwindling
à the general public would no longer
have access to central bank money
retail payments developments
à no longer have a domestic
infrastructure for retail payments, given
the dominance of global card schemes,
pan-European clearing and the ECB’s
trend towards multi-currency settlement
systems
e-krona
33. 2017 à instituted a sweeping ban on cryptocurrency activities,
including trading, wallets, and ICOs (initial coin offering).
Recently à authorities have spoken out about accelerating the
development of a central bank digital currency (CBDC).
https://technode.com/2019/07/23/china-fast-tracks-development-of-national-digital-currency-in-response-to-libra/
People's Republic of China
34. 2014 à all trades using virtual currencies and all benefits from selling them
is allowed only for registered financial organizations (e.g., banks)
2017 à Ukrainian National Bank required certain regulation to admit Bitcoin
as real money
2018 à almost finished legislation aimed at regulating all operations with
digital assets
Recently à Ukrainian National Bank expressed readiness to collaborate with the
Bitcoin foundation to work on the new project called Ukrainian Bitlicense
Ukraine
https://cointelegraph.com/tags/ukraine
36. “A decline in cash usage has prompted us to
think about whether at some future date a
number of new attributes that are important for
ensuring an efficient and robust payment system
and confidence in the monetary system will be
needed”
https://members.nfcworld.com/25796/norges-bank-papers-central-bank-
digital-currencies/
https://www.reuters.com/article/us-israel-cenbank-currency/israel-central-
bank-mulls-issuing-digital-currency-for-faster-payments-idUSKBN1EI0D5
https://news.bitcoin.com/uruguay-first-in-the-world-to-launch-digital-currency-
not-bitcoin-it-stresses/
41. 11th Development Plan – Turkey (2019-2023)
http://www.sbb.gov.tr/wp-content/uploads/2019/07/OnbirinciKalkinmaPlani.pdf
09 Jul 2019
* available only in Turkish
43. Have you ever heard of
cryptocurrency?
https://think.ing.com/reports/cracking-the-code-on-cryptocurrency/
44. Do you own some
cryptocurrency?
https://think.ing.com/reports/cracking-the-code-on-cryptocurrency/
Do you expect to own
cryptocurrency in the future?
45. eGovernment performance of Life Events - Turkey (2013)
http://ec.europa.eu/information_society/newsroom/cf/dae/document.cfm?action=display&doc_id=5573
47. Kobrin, S. (1997). Electronic Cash and the End of National Markets. Foreign Policy, (107), 65-77. doi:10.2307/1149333
”E-cash and the increasing importance of digital markets pose
problems for central government control over the economy and
the behavior of economic actors; they also render borders
around national markets and nation-states increasingly
penneable--or, perhaps, increasingly irrelevant. In a world
where true e-cash is an everyday reality, the basic role of
government in a liberal market economy and the
relevance of borders and geography will be drastically
redefined.”
(Kobrin, 1997)
48. Introduction to technology acceptance model (TAM)
PEU : the degree to which a person believes that using the system will be free of
effort
PU : the extent to which a person believes that using a particular technology will
enhance her/his job performance
Davis, F. D. (1986). A technology acceptance model for empirically testing new end-user information systems: Theory and results. Cambridge, MA: Massachusetts Institute of Technology.
Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13, 319–340. doi:10.2307/249008
Davis, F. D., Bagozzi, R. P., & Warshaw, P. R. (1989). User acceptance of computer technology: A comparison of two theoretical models. Management Science, 35(8), 982–1003.
doi:10.1287/mnsc.35.8.982
Perceived
Usefulness
Perceived
Ease of Use
External
Variables
Attitude
Toward Using
Behavioral
Intention to Use
Actual System
Use
49. Technology acceptance model (TAM) and electronic commerce
Pavlou, P. A. (2003). Consumer acceptance of electronic commerce: Integrating trust and risk with the technology acceptance model. International Journal of
Electronic Commerce, 7(3), 101–134.
Actual
Transaction
Intention to
Transaction
Trust
Perceived
Usefulness
Perceived
Risk
Perceived
Ease of Use
50. What are the
• perceived ease of use,
• perceived usefulness, and
• perceived risk factors for
• Consumers
• Firms
• Banks
• Regulators
with regard to national digital currency in Sweden and
Turkey?
TAM Questions
Daniel Folkinshteyn & Mark Lennon (2016) Braving Bitcoin: A technology acceptance model (TAM) analysis, Journal of Information Technology Case and Application Research, 18:4, 220-
249, DOI: 10.1080/15228053.2016.1275242
51. ”The elderly and those who
struggle with technology are at
risk of being left behind just
as people who can’t afford smart
phones or those who don’t have
credit or debit cards.”
https://dailysweden.com/2019/07/29/sweden-set-to-be-worlds-first-cashless-society-australia-is-following/
What about immigrants / disabled /elderly / unbanked
???
52. Effects of existing
• Internet and communications infrastructure
• level of digital adoption: use of Internet
• use of cash
• access points to the financial system
• technologically neutral and secure methods of
payment
What about …
https://www.bbvaresearch.com/wp-content/uploads/2018/10/CBDCs-in-LATAM.pdf