Search results for: currency disinfectant

Authors: Shu-Han Hsu, Jiho Yoon, Chwen Sheu

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With the rapidly growing of blockchain technology and cryptocurrency, various industries which include tourism has added in cryptocurrency as the payment method of their transaction. More and more tourism companies accept payments in digital currency for flights, hotel reservations, transportation, and more. For travellers and tourists, using cryptocurrency as a payment method has become a way to circumvent costs and prevent risks. Understanding volatility dynamics and interdependencies between standard currency and cryptocurrency is important for appropriate financial risk management to assist policy-makers and investors in marking more informed decisions. The purpose of this paper has been to understand and explain the risk spillover effects between six major cryptocurrencies and the top ten most traded standard currencies. Using data for the daily closing price of cryptocurrencies and currency exchange rates from 7 August 2015 to 10 December 2019, with 1,133 observations. The diagonal BEKK model was used to analyze the co-volatility spillover effects between cryptocurrency returns and exchange rate returns, which are measures of how the shocks to returns in different assets affect each other’s subsequent volatility. The empirical results show there are co-volatility spillover effects between the cryptocurrency returns and GBP/USD, CNY/USD and MXN/USD exchange rate returns. Therefore, currencies (British Pound, Chinese Yuan and Mexican Peso) and cryptocurrencies (Bitcoin, Ethereum, Ripple, Tether, Litecoin and Stellar) are suitable for constructing a financial portfolio from an optimal risk management perspective and also for dynamic hedging purposes.

Keywords: blockchain, co-volatility effects, cryptocurrencies, diagonal BEKK model, exchange rates, risk spillovers

Procedia PDF Downloads 115

Authors: Gordana Kordić, Petra Palić

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The European countries that during the past two decades based their exchange rate regimes on currency board arrangement (CBA) are usually analysed from the perspective of corner solution choice’s stabilisation effects. There is an open discussion on the positive and negative background of a strict exchange rate regime choice, although it should be seen as part of the transition process towards the monetary union membership. The focus of the paper is on the Baltic countries that after two decades of a rigid exchange rate arrangement and strongly influenced by global crisis are finishing their path towards the euro zone. Besides the stabilising capacity, the CBA is highly vulnerable regime, with limited developing potential. The rigidity of the exchange rate (and monetary) system, despite the ensured credibility, do not leave enough (or any) space for the adjustment and/or active crisis management. Still, the Baltics are in a process of recovery, with fiscal consolidation measures combined with (painful and politically unpopular) measures of internal devaluation. Today, two of them (Estonia and Latvia) are members of euro zone, fulfilling their ultimate transition targets, but de facto exchanging one fixed regime with another. The paper analyses the challenges for the CBA in unstable environment since the fixed regimes rely on imported stability and are sensitive to external shocks. With limited monetary instruments, these countries were oriented to the fiscal policies and used a combination of internal devaluation and tax policy measures. Despite their rather quick recovery, our second goal is to analyse the long term influence that the measures had on the national economy.

Keywords: currency board arrangement, internal devaluation, exchange rate regime, great recession

Procedia PDF Downloads 235

Authors: Natalia M. Acevedo, Luis M. Jimenez, Erick Lambis

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Imperfections in the capital market are used to argue the relevance of the corporate risk management function. With corporate hedge, the value of the company is increased by reducing the volatility of the expected cash flow and making it possible to face a lower bankruptcy costs and financial difficulties, without sacrificing tax advantages for debt financing. With the propose to avoid exchange rate troubles over cash flows of Colombian exporting firms, this dissertation uses financial options, over exchange rate between Peso and Dollar, for realizing a financial hedge. In this study, a strategy of hedge is designed for an exporting company in Colombia with the objective of preventing fluctuations because, if the exchange rate down, the number of Colombian pesos that obtains the company by exports, is less than agreed. The exchange rate of Colombia is measured by the TRM (Representative Market Rate), representing the number of Colombian pesos for an American dollar. First, the TMR is modelled through the Geometric Brownian Motion, with this, the project price is simulated using Montecarlo simulations and finding the mean of TRM for three, six and twelve months. For financial hedging, currency options were used. The 6-month projection was covered with financial options on European-type currency with a strike price of $ 2,780.47 for each month; this value corresponds to the last value of the historical TRM. In the compensation of the options in each month, the price paid for the premium, calculated with the Black-Scholes method for currency options, was considered. Finally, with the modeling of prices and the Monte Carlo simulation, the effect of the exchange hedging with options on the exporting company was determined, this by means of the unit price estimate to which the dollars in the scenario without coverage were changed and scenario with coverage. After using the scenarios: is determinate that the TRM will have a bull trend and the exporting firm will be affected positively because they will get more pesos for each dollar. The results show that the financial options manage to reduce the exchange risk. The expected value with coverage is approximate to the expected value without coverage, but the 5% percentile with coverage is greater than without coverage. The foregoing indicates that in the worst scenarios the exporting companies will obtain better prices for the sale of the currencies if they cover.

Keywords: currency hedging, futures, geometric Brownian motion, options

Procedia PDF Downloads 99

Authors: Reuben Govender

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Culpability is an essential element for an accused to be held liable for a crime. The mental element or mens rea determines blameworthiness of an accused on a charge of killing a person. The mens rea required for a conviction of murder is intent while culpable homicide requires negligence. Central to blameworthiness in mens rea is individual freedom and voluntariness. The test for intent is subjective and objective for negligence. This paper presents a review of dolus eventualis in the context of murder trials and from a South African perspective. This paper poses a central questions namely, is dolus eventualis a ‘weaker currency’ during sentencing for murder? This paper attempts to answer this question by reviewing the concept of dolus eventualis, the test in judicial application, a review of decided South African cases in its application, its incorrect application and finally, considerations for its correct application. Lastly, the ‘weight’ of a dolus eventualis conviction in terms of sentencing will be reviewed to support the central question which is answered in the negative.

Keywords: dolus eventualis, dolus indeterminatus, dolus generalis, mens rea

Procedia PDF Downloads 211

Authors: K. Haggag, M. Salama, H. El-Sayed

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Polyester fabrics were sanitized by exposing them to vaporized water under the influence of conventional heating or microwave irradiation. Hydrogen peroxide was added the humid sanitizing environment as a disinfectant. The said sanitization process was found to be effective towards two types of bacteria, namely Escherichia coli ATCC 2666 (G –ve) and Staphylococcus aureus ATCC 6538 (G +ve). The effect of the sanitization process on some of the inherent properties of polyester fabrics was monitored.

Keywords: polyester, fabric, sanitization, microwave, bacteria

Procedia PDF Downloads 344

Authors: Lule Basha, Eralda Gjika

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The exchange rate is one of the most important economic variables, especially for a small, open economy such as Albania. Its effect is noticeable in one country's competitiveness, trade and current account, inflation, wages, domestic economic activity, and bank stability. This study investigates the fluctuation of Albania’s exchange rates using monthly average foreign currency, Euro (Eur) to Albanian Lek (ALL) exchange rate with a time span from January 2008 to June 2021, and the macroeconomic factors that have a significant effect on the exchange rate. Initially, the Random Forest Regression algorithm is constructed to understand the impact of economic variables on the behavior of monthly average foreign currencies exchange rates. Then the forecast of macro-economic indicators for 12 months was performed using time series models. The predicted values received are placed in the random forest model in order to obtain the average monthly forecast of the Euro to Albanian Lek (ALL) exchange rate for the period July 2021 to June 2022.

Keywords: exchange rate, random forest, time series, machine learning, prediction

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Authors: Bangkit Adhi Nugraha, Bambang Suripto

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On September 2016 Bank Indonesia (BI) release regulation no.18/18/PBI/2016 that permit bank clients for using the FX option call spread USD/IDR. Basically, this product is a combination between clients buy FX call option (pay premium) and sell FX call option (receive premium) to protect against currency depreciation while also capping the potential upside with cheap premium cost. BI classifies this product as a structured product. The structured product is combination at least two financial instruments, either derivative or non-derivative instruments. The call spread is the first structured product against IDR permitted by BI since 2009 as response the demand increase from Indonesia firms on FX hedging through derivative for protecting market risk their foreign currency asset or liability. The composition of hedging products on Indonesian FX market increase from 35% on 2015 to 40% on 2016, the majority on swap product (FX forward, FX swap, cross currency swap). Swap is formulated by interest rate difference of the two currency pairs. The cost of swap product is 7% for USD/IDR with one year USD/IDR volatility 13%. That cost level makes swap products seem expensive for hedging buyers. Because call spread cost (around 1.5-3%) cheaper than swap, the most Indonesian firms are using NDF FX call spread USD/IDR on offshore with outstanding amount around 10 billion USD. The cheaper cost of call spread is the main advantage for hedging buyers. The problem arises because BI regulation requires the call spread buyer doing the dynamic hedging. That means, if call spread buyer choose strike price 1 and strike price 2 and volatility USD/IDR exchange rate surpass strike price 2, then the call spread buyer must buy another call spread with strike price 1’ (strike price 1’ = strike price 2) and strike price 2’ (strike price 2’ > strike price 1‘). It could make the premium cost of call spread doubled or even more and dismiss the purpose of hedging buyer to find the cheapest hedging cost. It is very crucial for the buyer to choose best optimum strike price before entering into the transaction. To help hedging buyer find the optimum strike price and avoid expensive multiple premium cost, we observe ten years 2005-2015 historical data of USD/IDR volatility to be compared with the price movement of the call spread USD/IDR using Garman–Kohlhagen Model (as a common formula on FX option pricing). We use statistical tools to analysis data correlation, understand nature of call spread price movement over ten years, and determine factors affecting price movement. We select some range of strike price and tenor and calculate the probability of dynamic hedging to occur and how much it’s cost. We found USD/IDR currency pairs is too uncertain and make dynamic hedging riskier and more expensive. We validated this result using one year data and shown small RMS. The study result could be used to understand nature of FX call spread and determine optimum strike price for hedging plan.

Keywords: FX call spread USD/IDR, USD/IDR volatility statistical analysis, Garman–Kohlhagen Model on FX Option USD/IDR, Bank Indonesia Regulation no.18/18/PBI/2016

Procedia PDF Downloads 355

Authors: Ling Qi, Matloob Khushi, Josiah Poon

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This paper introduces a pre-trained Masked Candlestick Model (MCM) for trading time-series data. The pre-trained model is based on three core designs. First, we convert trading price data at each data point as a set of normalized elements and produce embeddings of each element. Second, we generate a masked sequence of such embedded elements as inputs for self-supervised learning. Third, we use the encoder mechanism from the transformer to train the inputs. The masked model learns the contextual relations among the sequence of embedded elements, which can aid downstream classification tasks. To evaluate the performance of the pre-trained model, we fine-tune MCM for three different downstream classification tasks to predict future price trends. The fine-tuned models achieved better accuracy rates for all three tasks than the baseline models. To better analyze the effectiveness of MCM, we test the same architecture for three currency pairs, namely EUR/GBP, AUD/USD, and EUR/JPY. The experimentation results demonstrate MCM’s effectiveness on all three currency pairs and indicate the MCM’s capability for signal extraction from trading data.

Keywords: masked language model, transformer, time series prediction, trading prediction, embedding, transfer learning, self-supervised learning

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Authors: Toby Gibbs, Suwaree Yordchim

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This research analyzes factors affecting the success of Litecoin Value within Thailand and develops a guideline for self-reliance for effective business implementation. Samples in this study included 119 people through surveys. The results revealed four main factors affecting the success as follows: 1) Future Career training should be pursued in applied Litecoin development. 2) Didn't grasp the concept of a digital currency or see the benefit of a digital currency. 3) There is a great need to educate the next generation of learners on the benefits of Litecoin within the community. 4) A great majority didn't know what Litecoin was. The guideline for self-reliance planning consisted of 4 aspects: 1) Development planning: by arranging meet up groups to conduct further education on Litecoin and share solutions on adoption into every day usage. Local communities need to develop awareness of the usefulness of Litecoin and share the value of Litecoin among friends and family. 2) Computer Science and Business Management staff should develop skills to expand on the benefits of Litecoin within their departments. 3) Further research should be pursued on how Litecoin Value can improve business and tourism within Thailand. 4) Local communities should focus on developing Litecoin awareness by encouraging street vendors to accept Litecoin as another form of payment for services rendered.

Keywords: litecoin, mining, confirmations, payment method

Procedia PDF Downloads 162

Authors: Toby Gibbs, Suwaree Yordchim

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This research analyzes factors affecting the success of Litecoin Value within Thailand and develops a guideline for self-reliance for effective business implementation. Samples in this study included 119 people through surveys. The results revealed four main factors affecting the success as follows: 1) Future Career training should be pursued in applied Litecoin development. 2) Didn't grasp the concept of a digital currency or see the benefit of a digital currency. 3) There is a great need to educate the next generation of learners on the benefits of Litecoin within the community. 4) A great majority didn't know what Litecoin was. The guideline for self-reliance planning consisted of 4 aspects: 1) Development planning: by arranging meet up groups to conduct further education on Litecoin and share solutions on adoption into every day usage. Local communities need to develop awareness of the usefulness of Litecoin and share the value of Litecoin among friends and family. 2) Computer Science and Business Management staff should develop skills to expand on the benefits of Litecoin within their departments. 3) Further research should be pursued on how Litecoin Value can improve business and tourism within Thailand. 4) Local communities should focus on developing Litecoin awareness by encouraging street vendors to accept Litecoin as another form of payment for services rendered.

Keywords: bitcoin, cryptocurrency, decentralized, business implementation

Procedia PDF Downloads 262

Authors: Frank C. Amaechi, Adeyinka A. Aderinto, Usman A. Ojedokun, Oludayo Tade

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Illicit trading in new naira notes has become a common practice in most communities in Nigeria despite the Central Bank Act’s in 2007 proscription of all forms of naira abuse. This study investigated the socio-economic factors sustaining illicit trading in new naira notes in Ibadan metropolis. The study was exploratory and cross-sectional in design. Neutralization theory was adopted as theoretical framework. Data were generated through the combination of in-depth interview and key informant interview methods. The purposive sampling technique was utilised to select five illicit traders of new naira notes, 32 patrons of the trade and six bank officials. Findings revealed that illicit trading in Nigeria’s national currency is flourishing because of the frequent demand for new naira notes that are not readily available in Nigerian banks. Also, the norm of cash spraying at social events is sustaining the illicit markets for new naira notes in Ibadan metropolis. In addition, a chain of network, comprising three principal actors, is behind the illegal business. A strict enforcement of the law banning cash spraying is advocated as a means of arresting this phenomenon.

Keywords: illicit trading, naira notes, national currency, Nigeria

Procedia PDF Downloads 270

Authors: Hamidou Diallo, Marianne Guille

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This paper identifies leading triggers of deficient episodes in terms of GDP growth based on a sample of countries at different stages of development over 1994-2017. Using logit models, we build early warning systems (EWS), and our results show important differences between developing countries (DCs) and advanced economies (AEs). For AEs, the main predictors of the probability of entering in a GDP growth deficient episode are the deterioration of external imbalances and the vulnerability of fiscal position while DCs face different challenges that need to be considered. The key indicators for them are first, the low ability to pay their debts, and second, their belonging or not to a common currency area. We also build homogeneous pools of countries inside AEs and DCs. The evolution of the proportion of AE countries in the riskiest pool is marked first, by three distinct peaks just after the high-tech bubble burst, the global financial crisis, and the European sovereign debt crisis, and second by a very low minimum level in 2006 and 2007. In contrast, the situation of DCs is characterized first by the relative stability of this proportion and then by an upward trend from 2006, that can be explained by a more unfavorable socio-political environment leading to shortcomings in the fiscal consolidation.

Keywords: currency area, early warning system, external imbalances, fiscal vulnerability, GDP growth, public debt

Procedia PDF Downloads 93

Authors: Hye-Hyun Lee, Hyo-Kon Chun, Kyung-Hee Kim Kim, Mi-Hee Kim, Saet-Byul Chu, Sang-Jong Lee, Seung-Hyeop Lee, Seung-Won Yi

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Some chemicals such as malachite green, methylene blue, and copper sulfate had been used frequently as disinfectants controlling fungal infection in aquaculture. However, their carcinogenicity, mutagenicity and teratogenicity were reported in mammals. After their accumulation in food fish and its consumers was confirmed, concerns about public health has resulted in enhanced monitoring and increased demand for eco-friendly treatments. Therefore, this study aimed to evaluate safety to fish and efficacy of sulfur solution processed by effective microorganisms (EM-PSS) against Saprolegnia parasitica, for use of a potential aquatic fungicidal disinfectant. The natural sulfur purchased from Kawah Ijen volcano, East Java, Indonesia was processed by the liquid mixture consisting of following twelve effective microorganisms (Rapha-el®; Lbiotech, Jeonnam, Korea), Lactobacillus parafarraginis, L. paracasei, L. harbinensis, L. buchneri, L. perolens, L. rhamnosus, L. vaccinostercus, Acetobacter lovaniensis, A. peroxydans, Pichia fermentans, Candida ethanolica, Saccharomycopsis schoenii isolated from fermentation process of oriental medicinal herbs including green tea, privet, and puer tea. The material was applied to in vitro antifungal activity test for Saprolegnia parasitica using agar dilution method. In addition, an acute toxicity test was performed on carp (Cyprinus carpio), eel (Anguilla japonica), and mud fish (Misgurnus mizolepis) for 96 hours. After three species of fish (n=15) were accustomed to experimental water environment for three days, the EM-PSS was added to each tank as final concentrations to be 0 to 500 ppm. The fish were taken into necropsy, and the histological sections of the gill, liver, and spleen were counter-stained with hematoxylin and eosin (H-E). And hence, no observed effect concentration (NOEC) of the solution was used for taking a medicinal bath for mudfish infected by Saprolegnia parasitica in practice. The result of in vitro antifungal activity test showed the growth inhibition of the fungus at 100 ppm, which and the lower concentrations occurred no fatal case in any fish species tested until the end of the examination. The 125 ppm of the solution, however, resulted in 13.3 %, 13.3 %, and 6.3 % of mortality in carp, eel, and mudfish, respectively. But both 250 and 500 ppm of the solution leaded lethality to all population of each fish species within 24 hours. Besides, H-E staining also showed no specific evidence for toxicity in fish at lesser than 100 ppm of EM-PSS. On the other hand, as a result of field application of the solution, no growth of fungal mycelium was found in fish bodies from gross observation 5 days post treatment. In conclusion, 100ppm of EM-PSS resulted in inhibition and treatment of Saprolegnia parasitica infection. In addition, the use of EM-PSS lower than 100 ppm is safe for fish. Therefore, EM-PSS could be used as aquatic fungicide, and also may be possible to be a potential eco-friendly disinfectant in aquaculture.

Keywords: antifungal activity, effective microorganism, toxicity, saprolegnia, processed sulfur solution

Procedia PDF Downloads 230

Authors: Nini Johana Marin Rodriguez

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This paper applies DCC, EWMA and OGARCH models to compare the dynamic correlations between exchange rates, oil prices, exchange rates and stock markets to examine the time-varying conditional correlations to the daily oil prices and index returns in relation to the US dollar/local currency for developed (Canada and Mexico) and emerging Latin American markets (Brazil, Chile, Colombia and Peru). Changes in correlation interactions are indicative of structural changes in market linkages with implications to contagion and interdependence. For each pair of stock price-exchange rate and oil price-US dollar/local currency, empirical evidence confirms of a strengthening negative correlation in the last decade. Methodologies suggest only two events have significatively impact in the countries analyzed: global financial crisis and Europe crisis, both events are associated with shifts of correlations to stronger negative level for most of the pairs analyzed. While, the first event has a shifting effect on mainly emerging members, the latter affects developed members. The identification of these relationships provides benefits in risk diversification and inflation targeting.

Keywords: crude oil, dynamic conditional correlation, exchange rates, interdependence, stock prices

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Authors: Muntadher Sallal, Gareth Owenson, Mo Adda, Safa Shubbar

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Bitcoin is a digital currency based on a peer-to-peer network to propagate and verify transactions. Bitcoin is gaining wider adoption than any previous crypto-currency. However, the mechanism of peers randomly choosing logical neighbors without any knowledge about underlying physical topology can cause a delay overhead in information propagation, which makes the system vulnerable to double-spend attacks. Aiming at alleviating the propagation delay problem, this paper introduces proximity-aware extensions to the current Bitcoin protocol, named Master Node Based Clustering (MNBC). The ultimate purpose of the proposed protocol, that are based on how clusters are formulated and how nodes can define their membership, is to improve the information propagation delay in the Bitcoin network. In MNBC protocol, physical internet connectivity increases, as well as the number of hops between nodes, decreases through assigning nodes to be responsible for maintaining clusters based on physical internet proximity. We show, through simulations, that the proposed protocol defines better clustering structures that optimize the performance of the transaction propagation over the Bitcoin protocol. The evaluation of partition attacks in the MNBC protocol, as well as the Bitcoin network, was done in this paper. Evaluation results prove that even though the Bitcoin network is more resistant against the partitioning attack than the MNBC protocol, more resources are needed to be spent to split the network in the MNBC protocol, especially with a higher number of nodes.

Keywords: Bitcoin network, propagation delay, clustering, scalability

Procedia PDF Downloads 91

Authors: Christopher Benedikt Jakob

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Human beings are intrigued by luxury watches for decades. It is fascinating that customers pay an enormous amount of money for specific wristwatch models. It is fascinating that customers of the luxury watch industry accept a yearly price increase. This behavior increases their desirability even more. Luxury watches are perceived as status symbols, but they are additionally accepted as a currency without the disadvantage of currency fluctuations. It is obvious that the symbolic value is more important as the functional value with reference to the buying-reasons as regards luxury watches. Nowadays human beings do not need a wristwatch to read the time. Tablets, notebooks, smartphones, the watch in the car and watches on public places are used to inform people about the current time. This is one of the reasons why there is a trend that people do not wear wristwatches anymore. Due to these facts, this study has the intention to give answers to the question why people invest an enormous amount of money on the consumption of luxury watches and why those watches are seen as a status symbol. The study examines why the luxury watch industry records significant growth rates. The self-expression model is used as an appropriate methodology to find reasons why human beings purchase specific luxury watches. This evaluative approach further discusses if human beings are aware of their current self and their ideal self and how they express them. Furthermore, the research critically evaluates the people’s social self and their ideal social self. One of the goals is to identify if customers know why they like specific luxury watches and dislike others although they have the same quality and cost comparable prices.

Keywords: luxury watch, brand awareness, buying-behaviour, consumer, self-expression

Procedia PDF Downloads 130

Authors: Raheel Asif, Michael Frommel

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This paper focuses on analyzing the exchange rate exposure of exporting & domestic firms in (the so far rarely addressed) largest Eastern European transition economies, i.e., Russia and the three EU accession countries, Poland, Hungary, and Czech Republic (CEEC-3). It also controls for possible effects of different exchange rate regimes, Great Financial crisis (2007-08), Russian Financial crisis (2014-15), the formation of EU & turn of year effect. Substantially improving the results from the existing literature on these transition economies, we find for more than 51% of our sample firms in CEEC-3 countries and 29% in Russia shows a significant exchange rate exposure. However, the magnitude and direction of firms’ exposure depends on the particular bilateral exchange rate and differs between CEEC-3 and Russia. We find that share price increases with an appreciation of the domestic currency against the EURO and US Dollar (USD) in CEEC-3; however, the effect is more pronounced for EURO as expected. Whereas, for Russian firms share price increases with a depreciation of the domestic currency against the USD only. Those differences may result from a differing dominance of exposure channels in the respective economies, such as the country-specific export structure, competitiveness channels, and dependence on foreign debt. Finally, the switch from a pegged to a flexible exchange rate regime appears to have a less pronounced effect for the exchange rate exposure of firms in all countries except for USD in Poland and Russia.

Keywords: exchange rate exposure, transition economies, central and eastern Europe, international finance

Procedia PDF Downloads 102

Authors: O. D. Adegbehingbe, S. D. Eyono Obono

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The education sector is constantly faced with rapid changes in technologies in terms of ensuring that the curriculum is up to date and in terms of making sure that students are aware of these technological changes. This challenge can be seen as the motivation for this study, which is to examine the factors affecting computing students’ awareness of the latest Information Technologies (ICTs). The aim of this study is divided into two sub-objectives which are: the selection of relevant theories and the design of a conceptual model to support it as well as the empirical testing of the designed model. The first objective is achieved by a review of existing literature on technology adoption theories and models. The second objective is achieved using a survey of computing students in the four universities of the KwaZulu-Natal province of South Africa. Data collected from this survey is analyzed using Statistical package for the Social Science (SPSS) using descriptive statistics, ANOVA and Pearson correlations. The main hypothesis of this study is that there is a relationship between the demographics and the prior conditions of the computing students and their awareness of general ICT trends and of Digital Switch Over (DSO) a new technology which involves the change from analog to digital television broadcasting in order to achieve improved spectrum efficiency. The prior conditions of the computing students that were considered in this study are students’ perceived exposure to career guidance and students’ perceived curriculum currency. The results of this study confirm that gender, ethnicity, and high school computing course affect students’ perceived curriculum currency while high school location affects students’ awareness of DSO. The results of this study also confirm that there is a relationship between students prior conditions and their awareness of general ICT trends and DSO in particular.

Keywords: education, information technologies, IDT, awareness

Procedia PDF Downloads 334

Authors: Chinelle van der Westhuizen

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The introduction of cryptocurrencies as an alternative payment system have placed governments in a challenging position in relation to the regulatory status of cryptocurrencies and the money laundering activities associated with it. In April 2018, the Australian government amended its Anti-Money Laundering laws to regulate digital currency exchanges in an attempt to regulate money laundering activities and the introduction of ‘know-your-customer’ policies within the digital currency sector. Part one of this paper explores the use of cryptocurrencies for money laundering purposes and its significance to money launderers. Part two studies the efficacy of the current Australian Anti-Money Laundering laws and whether more can be done on a regulatory level. This paper will, therefore, highlight recent court decisions and legislation in terms of money laundering activities within these alternative payment systems in Australia and the United Kingdom. Part three of the paper will further analyze recent case studies by the Australian Transaction Reports and Analysis Centre and the Office for Professional Body Anti-Money Laundering Supervision in the United Kingdom as the regulatory bodies for money laundering activities. The case studies and research will explore the legal disputes and future regulation concerning the use of cryptocurrencies and money laundering on a national as well as international level. This paper intends to highlight that although cryptocurrency is viewed as an innovative global phenomenon and an alternative method of payment, there are a number of legal issues associated with its use that indicate the need for regulatory reform. It is recommended in this paper that the Financial Action Task Force, International Monetary Fund as well as concerned governments have ongoing discussions on these regulatory issues and how to address it appropriately, whether through legislation or universal guidelines. Therefore, the conclusion of this paper will emphasize the benefits of a regulatory regime for money laundering activities within the cryptocurrency space and that the lack of such a regime may be detrimental to countries.

Keywords: cryptocurrency, know-your-customer policy, money laundering, regulation

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Authors: Hermanto J. M, Mirna Febriani

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Resin acrylic, which is widely used, has the physical properties that can absorb liquids. This can lead to a change in the dimensions of the acrylic resin material. If repeated immersions were done, its strength would be affected. Disinfectant solutions have been widely used to reduce microorganisms both inside and outside the patient's mouth. One of the disinfecting materials that can be used is a clover solution. The purpose of this research is to find the ratio of water absorption of the acrylic resin material of self-cured type, soaked in clover solution for 10 minutes. The results showed that the average value obtained before soaked in clover solution was 0.0692 mg/cm3 and after soaked, in clover solution, the value was 0.090 mg/cm3. The conclusion of this research shows that the values of water sorption of acrylic resin before and after soaked in clover solution is still in ISO standard 1567/2001. Differences in water sorption value of self-cured acrylic resin before and after the immersion are caused by the process of liquid diffusion into the acrylic resin.

Keywords: absorption of fluid, self-cured acrylic resin, soaked, clover solution

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Authors: M. Shahin Alam, Satoru Takahashi, Mariko Itoh, Miyuki Komura, Mayuko Suzuki, Natthanan Sangsriratanakul, Kazuaki Takehara

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Cleaning and disinfection are key components of routine biosecurity in livestock farming and food processing industry. The usage of suitable disinfectants and their proper concentration are important factors for a successful biosecurity program. Disinfectants have optimum bactericidal and virucidal efficacies at temperatures above 20°C, but very few studies on application and effectiveness of disinfectants at low temperatures have been done. In the present study, the bactericidal efficacies of food additive grade calcium hydroxide (FdCa(OH)), quaternary ammonium compound (QAC) and their mixture, were investigated under different conditions, including time, organic materials (fetal bovine serum: FBS) and temperature, either in suspension or in carrier test. Salmonella Infantis and Escherichia coli, which are the most prevalent gram negative bacteria in commercial poultry housing and food processing industry, were used in this study. Initially, we evaluated these disinfectants at two different temperatures (4°C and room temperature (RT) (25°C ± 2°C)) and 7 contact times (0, 5 and 30 sec, 1, 3, 20 and 30 min), with suspension tests either in the presence or absence of 5% FBS. Secondly, we investigated the bactericidal efficacies of these disinfectants by carrier tests (rubber, stainless steel and plastic) at same temperatures and 4 contact times (30 sec, 1, 3, and 5 min). Then, we compared the bactericidal efficacies of each disinfectant within their mixtures, as follows. When QAC was diluted with redistilled water (dW2) at 1: 500 (QACx500) to obtain the final concentration of didecyl-dimethylammonium chloride (DDAC) of 200 ppm, it could inactivate Salmonella Infantis within 5 sec at RT either with or without 5% FBS in suspension test; however, at 4°C it required 30 min in presence of 5% FBS. FdCa(OH)2 solution alone could inactivate bacteria within 1 min both at RT and 4°C even with 5% FBS. While FdCa(OH)2 powder was added at final concentration 0.2% to QACx500 (Mix500), the mixture could inactivate bacteria within 30 sec and 5 sec, respectively, with or without 5% FBS at 4°C. The findings from the suspension test indicated that low temperature inhibited the bactericidal efficacy of QAC, whereas Mix500 was effective, regardless of short contact time and low temperature, even with 5% FBS. In the carrier test, single disinfectant required bit more time to inactivate bacteria on rubber and plastic surfaces than on stainless steel. However, Mix500 could inactivate S. Infantis on rubber, stainless steel and plastic surfaces within 30 sec and 1 min, respectively, at RT and 4°C; but, for E. coli, it required only 30 sec at both temperatures. So, synergistic effects were observed on different carriers at both temperatures. For a successful enhancement of biosecurity during winter, the disinfectants should be selected that could have short contact times with optimum efficacy against the target pathogen. The present study findings help farmers to make proper strategies for application of disinfectants in their livestock farming and food processing industry.

Keywords: carrier, food additive grade calcium hydroxide (FdCa(OH)₂), quaternary ammonium compound, synergistic effects

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Authors: Eda Orhun

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Turkey stayed as a closed economy until the beginning of 1980s. This changed with the de-regulation and the liberalization program that was adopted by the government at that time. This re-structuring program also affected the Turkish banking system by triggering more foreign bank entry. While the number of foreign banks have been increasing, the number of (local) private banks have been decreasing especially after the currency crisis of 2001. This outcome is largely due to increased acquisitions of (local) private banks by foreign entrants.

Keywords: acquisitions, de-regulation, foreign bank entry, globalization

Procedia PDF Downloads 463

Authors: M. Peña Aguilar Juan, E. Nava Galván Claudia, Pastrana Palma Alberto

Abstract:

In this work was developed and implemented a thermal fogging disinfection system to counteract pathogens from poultry feces in agribusiness farms, to reduce mortality rates and increase biosafety in them. The control system consists of two phases for the conditioning of the farm during the sanitary break. In the first phase, viral and bacterial inactivation was performed by treating the stool dry cleaning, along with the development of a specialized product that foster the generation of temperatures above 55 °C in less than 24 hr, for virus inactivation. In the second phase, a process for disinfection by fogging was implemented, along with the development of a specialized disinfectant that guarantee no risk for the operators’ health or birds. As a result of this process, it was possible to minimize the level of mortality of chickens on farms from 12% to 5.49%, representing a reduction of 6.51% in the death rate, through the formula applied to the treatment of poultry litter based on oxidising agents used as antiseptics, hydrogen peroxide solutions, glacial acetic acid and EDTA in order to act on bacteria, viruses, micro bacteria and spores.

Keywords: innovation, triple helix, poultry farms, biosecurity

Procedia PDF Downloads 255

Authors: D. S. Fardhyanti, A. Damayanti

Abstract:

The utilization of biomass as a source of new and renewable energy is being carried out. One of the technologies to convert biomass as an energy source is pyrolysis which is converting biomass into more valuable products, such as bio-oil. Bio-oil is a liquid which is produced by steam condensation process from the pyrolysis of coconut shells. The composition of a coconut shell e.g. hemicellulose, cellulose and lignin will be oxidized to phenolic compounds as the main component of the bio-oil. The phenolic compounds in bio-oil are corrosive; they cause various difficulties in the combustion system because of a high viscosity, low calorific value, corrosiveness, and instability. Phenolic compounds are very valuable components which phenol has used as the main component for the manufacture of antiseptic, disinfectant (known as Lysol) and deodorizer. The experiments typically occurred at the atmospheric pressure in a pyrolysis reactor at temperatures ranging from 300 ^oC to 350 ^oC with a heating rate of 10 ^oC/min and a holding time of 1 hour at the pyrolysis temperature. The Gas Chromatography-Mass Spectroscopy (GC-MS) was used to analyze the bio-oil components. The obtained bio-oil has the viscosity of 1.46 cP, the density of 1.50 g/cm³, the calorific value of 16.9 MJ/kg, and the molecular weight of 1996.64. By GC-MS, the analysis of bio-oil showed that it contained phenol (40.01%), ethyl ester (37.60%), 2-methoxy-phenol (7.02%), furfural (5.45%), formic acid (4.02%), 1-hydroxy-2-butanone (3.89%), and 3-methyl-1,2-cyclopentanedione (2.01%).

Keywords: bio-oil, pyrolysis, coconut shell, phenol, gas chromatography-mass spectroscopy

Procedia PDF Downloads 211

Authors: R. Henry, H. Andriamboavonjy, J. B. Paulin, S. Drahy, R. Gourichon

Abstract:

During past decade, Chinese monetary policy has been to maintain stability of exchange rate CNY/USD by creating parity between the two currencies. This policy, against market equilibrium, impacts the exchange rate in having low Yuan currency, and keeping attractiveness of Chinese industries. Using macroeconomic and statistic approach, the impact of such policy onto CNY/USD exchange rate is quantitatively determined. It is also pointed out how Chinese banks respect Basel III ratios, in particular the foreign exchange ratio. The main analysis is focusing on how Chinese banks will respect these ratios in the future.

Keywords: macroeconomics models, yuan floating exchange rate, basel iii, china banking system

Procedia PDF Downloads 536

Authors: Ahmad Saleem

Abstract:

Ethereum is the second largest crypto currency in blockchain ecosystem. Along with standard transactions, it supports smart contracts and NFT’s. Current research trends are focused on analyzing the overall structure of the network its growth and behavior. Ethereum addresses are anonymous and can be created on fly. The nature of Ethereum network and addresses make it hard to predict their behavior. The activity period of an ethereum address is not much analyzed. Using machine learning we can make early prediction about the disposability of the address. In this paper we analyzed the lifetime of the addresses. We also identified and predicted the disposable addresses using machine learning models and compared the results.

Keywords: blockchain, Ethereum, cryptocurrency, prediction

Procedia PDF Downloads 68

Authors: Víctor Martínez del Rey, Kourosh Nasr Esfahani, Amir Masoud Samani Majd

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In this experimental study, the behaviors of Mixed Oxidant solution components (MOS) and sodium hypochlorite (HYPO) as the most commonly applied surface disinfectant were compared through the effectiveness of chlorine disinfection as a function of the contact time and residual chlorine. In this regard, the variation of pH, free available chlorine (FAC) concentration, and electric conductivity (EC) of disinfection solutions in different concentrations were monitored over 48 h contact time. In parallel, the plant stress activated by chlorine-based disinfectants was assessed by comparing MOS and HYPO. The elements of pH and EC in the plant-soil and their environmental impacts, spread by disinfection solutions were analyzed through several concentrations of FAC including 500 mg/L, 1000 mg/L, and 5000 mg/L in irrigated water. All the experiments were carried out at the service station of Sant Cugat, Spain. The outcomes indicated lower pH and higher durability of MOS than HYPO at the same concentration of FAC which resulted in promising stability of FAC within MOS. Furthermore, the pH and EC value of plant-soil irrigated by NaOCl solution were higher than that of MOS solution at the same FAC concentration. On-site generation of MOS as a safe chlorination option might be considered an imaginary future of smart cities.

Keywords: disinfection, free available chlorine, on-site generation, sodium hypochlorite

Procedia PDF Downloads 88

Authors: Zahra Karimi

Abstract:

The purpose of this paper is to investigate the role and importance of accounting for the implementation of the VAT system in the country. For this purpose, after the evaluation of specifications and important advantages of the VAT and the experience of other countries, important role of accounting in the precise determination of taxes, strategies to prevent escape of tax and realization of tax revenues of government, necessary control to increase the efficiency and accuracy of the calculations discussed. High-dependence of government to borrowing from the banking system and inflation tax and a low general ratio of tax revenues to GDP, indicating the inadequacy of the country's tax system. It can be said that being of a proper accounting system consider as a prerequisite for successful implementation of VAT in the country. So it's crucial for accountants with responsibility announce its full fitness to meet the requirements. For successful implementation of VAT as such a multi-stage sales tax and the tax on the price.

Keywords: accounting, tax reform in Iran, Value Added Tax (VAT), economic

Procedia PDF Downloads 357

Authors: Stephen Olusanmi Akintayo

Abstract:

Access to safe drinking water remains a major challenge in Nigeria, and where available, the quality of the water is often in doubt. An alternative to the inadequate clean drinking water is being found in treated drinking water packaged in electrically heated sealed nylon and commonly referred to as “sachet water”. “Sachet water” is a common thing in Nigeria as the selling price is within the reach of members of the low socio- economic class and the setting up of a production unit does not require huge capital input. The bacteriological quality of selected “sachet water” stored at room temperature over a period of 56 days was determined to evaluate the safety of the sachet drinking water. Test for the detection of coliform bacteria was performed, and the result showed no coliform bacteria that indicates the absence of fecal contamination throughout 56 days. Heterotrophic plate count (HPC) was done at an interval 14 days, and the samples showed HPC between 0 cfu/mL and 64 cfu/mL. The highest count was observed on day 1. The count decreased between day 1 and 28, while no growths were observed between day 42 and 56. The decrease in HPC suggested the presence of residual disinfectant in the water. The organisms isolated were identified as Staphylococcus epidermis and S. aureus. The presence of these microorganisms in sachet water is indicative for contamination during processing and handling.

Keywords: coliform, heterotrophic plate count, sachet water, Staphyloccocus aureus, Staphyloccocus epidermidis

Procedia PDF Downloads 306

Authors: Chandragiri Nagadeep, M. V. V. S. Durga, Sadu Mahikshith

Abstract:

Future generation is depended on new ideas and innovations that develops the country economical growth and technology standards so, Startups plays an important role in satisfying above goals. Startups includes support which is given by investing into it by investors but, single digit investors can’t keep supporting one startup and lot of security problems occurs while transferring large funds to startup’s bank account. Targeting security and most supportive funding, TogEther solves these issues by providing a platform where “Crowd Funding” is available in a decentralized way such that funding is done with digital currency called cryptocurrency where transactions are done in a secured way using “Block Chain Technology”. Not only Funding but also Ideas along with their documents can be presented and hosted with help of IPFS (Inter Planetary File System).

Keywords: blockchain, ethereum, web3, reactjs, interplanetary file system, funding

Procedia PDF Downloads 180