Interorganizational Networks : the Issue of Global Sovereignty

One of the most striking phenomena of the past decade has been the internationalisation of service firms (Tersen and Bricout, 1996). Previously considered “un-exportable” (Segal-Horn, 1993), they have proven day after day that they have the necessary characteristics to undertake an international development, and even a globalization of their offering systems (Vandermerwe, 1989 ; Campbell and Verbeke, 1994 ; Gadrey, 1994 ;). Retail banking and financial services are remarkable illustrations of this phenomenon (Michalet, 1985 ; Andreff, 1995). And bank cards in the first place. However, management scholars have been slow in reacting to this challenge. Focused on industry (and surprisingly enough on the automotive industry), the scholars have rather neglected the emerging field of international service firms. This Research gap has motivated our project on the international deployment of services. The field study we have selected is relative to the bank card organizations. This industry illustrates the functioning of service firms as political institutions. A striking example relates to the emergence and development of international standards bodies, specifically in the area of Internet payments. We are faced here with the construction of a transnational regulation. This paper brings twofold a contribution. On one hand, it enriches the interpretation of a very important, peculiar and potentially generic research object, through the lenses of the translation theory. On the other hand, it has key managerial implications regarding « political » strategies with regard to positioning as a regulatory institution. Discussion follows on the consequences of these agencies' activities for business enterprises.

The future of exchanging value: uncovering new ways of spending

The explosion of new technology and virtual currencies is changing where, when and how people and business exchange value. The report also demonstrates that while the future of payments is uncertain, the availability of internet connectivity and the mass adoption of mobile devices will impact the payments industry and incumbent payments providers. The phenomenal uptake and usage of mobile devices – and the easy accessibility of mobile payments technology – means today’s consumers are more mobile in their transactions and have a wealth of options available regarding where, when and how they make purchasing decisions. The future of exchanging value – Uncovering new ways of spending explores how the emergence of a new generation of payment solutions and business models is changing the payments landscape. Organisations that look beyond traditional payments platforms and simplify the purchasing process by having the right payments solutions available at the right place and at the right time can gain a competitive advantage. The report also demonstrates that while the future of payments is uncertain, the availability of internet connectivity and the mass adoption of mobile devices will impact the payments industry and incumbent payments providers

Remittance flows to post-conflict states: perspectives on human security and development

This repository item contains a single issue of the Pardee Center Task Force Reports, a publication series that began publishing in 2009 by the Boston University Frederick S. Pardee Center for the Study of the Longer-Range Future.Migrant remittances – that is, money or other goods sent to relatives in the country of origin– play an increasingly central role in post-conflict reconstruction and national development of conflict-affected states. Private remittances are of central importance for restoring stability and enhancing human security in post-conflict countries. Yet the dynamics of conflict-induced remittance flows and the possibilities of leveraging remittances for post-conflict development have been sparsely researched to date. This Pardee Center Task Force Report is the outcome of an interdisciplinary research project organized by the Boston University Center for Finance, Law & Policy, in collaboration with The Frederick S. Pardee Center for the Study of the Longer-Range Future. The Task Force was convened by Boston University development economist John R. Harris and international banking expert Donald F. Terry, and social anthropologist Daivi Rodima-Taylor, Visiting Researcher at the Boston University African Studies Center, served as lead researcher and editor for the report. The Task Force was asked to research, analyze, and propose policy recommendations regarding the role of remittances in post-conflict environments and their potential to serve as a major source of development funds. The report’s authors collectively suggest a broader approach to remittance institutions that provides flexibility to adapt to specific local practices and to make broader institutional connections in an era of growing population displacement and expanding human and capital flows. Conditions for more productive use of migrants’ remittances are analyzed while drawing upon case studies from post-conflict countries in Africa, Asia and Latin America. The papers in this Task Force Report establish the importance of remittances for sustaining local livelihoods as well as rehabilitating institutional infrastructures and improving financial inclusion in post-conflict environments. Highlighting the increasing complexity of global remittance systems, the report examines the growing informality of conflict-induced remittance flows and explores solutions for more efficient linkages between financial institutions of different scales and degrees of formality. It discusses challenges to regulating international remittance transfers in the context of growing concerns about transparency, and documents the increasing role of diaspora networks and migrant associations in post-conflict co-development initiatives. The Task Force Report authors outline the main challenges to leveraging remittances for post-conflict development and make recommendations for further research and policy applications

Transnational Political Regulation of Bitcoin

Virtual currencies have recently emerged at the intersection of Internet and finance, bringing unprecedented innovations in payment systems, money and finance. In particular, Bitcoin is examined as the first example of virtual currency, dating back to 2009. Ever since virtual currencies emerged, they received increased attention from public, private and societal regulators, especially in the field of finance. Since regulation of Bitcoin is still in its infancy, this project will rather aim to unpack the underlying rationalities of power. Employing the concept of governmentality, this thesis performs Critical Discourse Analysis on policy papers, statements and press releases from public, private and societal regulators of finance. Rationalities of power and regulation are unpacked along three categories: ideas over the object that has to be regulated; ideas over the objectives that regulation has to achieve; ideas over the technical tools to be employed to achieve said aims. The results envision a future in which regulation will be public, transnational and permissive. The attitude of regulators is aimed at co-opetition, understood as a mix of competition and co-optation of virtual currencies in the current paradigm of regulation of money and finance. The future scenario will be mostly decided by strategic employment of material and institutional power by public and private actors in order either to limit or to support the adoption and diffusion of virtual currencies. However, it seems unlikely that virtual currencies will simply vanish in the future

Blockchain as a Promising Technology for International Settlements (on the Example of the Russian Economy)

Purpose: Development and testing of methodological approaches to the empirical assessment of a possible increase in GDP in the case of simulating the transition of cross-border payments to the blockchain environment using the example of the national economy of the Russian Federation.   Theoretical framework: In modern scientific literature, much attention is paid to questions about the prospects for the transition of financial transactions to the blockchain (Adrian T. et al., 2018; Allen D. et al., 2019; Boar C. et al., 2020; Kochergin D., 2021; Nazarenko Y., 2018 and others.). However, it should be argued that the methodological base justifying the macroeconomic efficiency of such decisions has not been formed in a holistic way. In this regard, this study is an attempt to develop theoretical and methodological tools that substantiate the feasibility of creating blockchain platforms for transnational payments.   Design/Methodology/Approach: Using the national economy of Russia as an example, we conducted an empirical assessment of the potential increase in gross domestic product (GDP) by simulating transitioning cross-border payments into a blockchain ecosystem.   Findings: It was determined that the potential cumulative macroeconomic effect (i.e., GDP growth) may reach 4.0% per year, corresponding to 6.05 trillion rubles ($75.6 billion US dollars).   Research, Practical & Social implications: We propose a future research agenda and highlight the contribution of blockchain to FinTech development.   Originality/Value: Estimates demonstrate the prospects of blockchain application in transnational payments and highlight their potential use for mitigating risks associated with increasing sanction pressure, including restrictions on access to international clearing services and payment systems (SWIFT, etc.)

Cryptocurrency in transnational offenses: criminal and civil legal aspects

The emergence of digital technologies contributed to the emergence and rapid development of digital commerce, and at the same time, the number of electronic payments, the use of digital and virtual currencies increased. The article presents an analysis of the legal nature of such a financial instrument as cryptocurrency, characterizes the distinctive features, highlights the advantages and disadvantages. The purpose of the work is to consider the regulatory legal position of cryptocurrency in the modern world, to highlight the legal practice in cases of the circulation of cryptocurrency, to study the role of cryptocurrency in transnational offenses, to explore possible options for combating cybercrime, which is carried out using the use of cryptocurrency. The methodology of the work is represented by a set of methods and techniques, operations that are used to study the topic and achieve the set goal, namely: hermeneutic, historical, extrapolation, comparative-legal, comparison and generalization, analysis, synthesis, deduction. Results of the work: in today's reality there is no unified international legal regulation of cryptocurrency, which complicates the prevention and fight against transnational offenses, the means or subject of which are cryptocurrencies and mining

When Technology Meets Money Laundering, What Should Law Do? New Products And Payment Systems And Cross Border Courier

Money Laundering has become very sophisticated by technology assistance. Perpetrator is tending to use the help of technology to create easiness of doing crime. This condition is supported also by the activity of cash courier across border which has been choosing as means to do money laundering. Some Conventions and/or multilateral agreement between countries have appointed the vulnerability of exploration of money laundering through cash courier. From research, it can be understood, the Convention just gives the guideline how to detect, but as long as it happens, there is no specific measurement how to recognize it directly. Since money laundering is proceed of crime. It needs an inspection and evaluation from the Authority and decides that the crime is money laundering. It is not a crime against Customs Law. Other condition that increases possibility to support money laundering is the development of new products and payment systems. So many innovation conducted by technology creates new payments methods and products, such as bitcoin, litecoin, linden dollars, other crypto currency and other bearer negotiable instruments, could help offender to do money laundering. In the research, it was discovered that the crime is developing further rather than the law. Technology seems like taking place in the heart of the money launderer and robs the position of the law, even though Technology is never created for something bad. The research is a qualitative research that will analyze how the law can work together with technology to fight against money laundering. The hypothesis of this research is that law is having a good position as guidance of the development of technology, and technology is having good role to trigger the readiness of law to develop. Thus money laundering will not be easy to “develop” when technology meet law. The government of every country in the world need to synergies information on new technological discovery this is very important as it will help each country to formulate laws bordering on trans-border crime especially on money laundering. Money laundering comes in different formats and styles with the introduction of different payment system across the world. One of such latest development is the introduction of crypto-currency i.e. bitcoin a fiat currency that is mainly a block chain technology driven

Trends in crypto-currencies and blockchain technologies: A monetary theory and regulation perspective

The internet era has generated a requirement for low cost, anonymous and rapidly verifiable transactions to be used for online barter, and fast settling money have emerged as a consequence. For the most part, e-money has fulfilled this role, but the last few years have seen two new types of money emerge. Centralised virtual currencies, usually for the purpose of transacting in social and gaming economies, and crypto-currencies, which aim to eliminate the need for financial intermediaries by offering direct peer-to-peer online payments. We describe the historical context which led to the development of these currencies and some modern and recent trends in their uptake, in terms of both usage in the real economy and as investment products. As these currencies are purely digital constructs, with no government or local authority backing, we then discuss them in the context of monetary theory, in order to determine how they may be have value under each. Finally, we provide an overview of the state of regulatory readiness in terms of dealing with transactions in these currencies in various regions of the world