1,023 research outputs found

    Distributed Ledger Technology (DLT) Applications in Payment, Clearing, and Settlement Systems:A Study of Blockchain-Based Payment Barriers and Potential Solutions, and DLT Application in Central Bank Payment System Functions

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    Payment, clearing, and settlement systems are essential components of the financial markets and exert considerable influence on the overall economy. While there have been considerable technological advancements in payment systems, the conventional systems still depend on centralized architecture, with inherent limitations and risks. The emergence of Distributed ledger technology (DLT) is being regarded as a potential solution to transform payment and settlement processes and address certain challenges posed by the centralized architecture of traditional payment systems (Bank for International Settlements, 2017). While proof-of-concept projects have demonstrated the technical feasibility of DLT, significant barriers still hinder its adoption and implementation. The overarching objective of this thesis is to contribute to the developing area of DLT application in payment, clearing and settlement systems, which is still in its initial stages of applications development and lacks a substantial body of scholarly literature and empirical research. This is achieved by identifying the socio-technical barriers to adoption and diffusion of blockchain-based payment systems and the solutions proposed to address them. Furthermore, the thesis examines and classifies various applications of DLT in central bank payment system functions, offering valuable insights into the motivations, DLT platforms used, and consensus algorithms for applicable use cases. To achieve these objectives, the methodology employed involved a systematic literature review (SLR) of academic literature on blockchain-based payment systems. Furthermore, we utilized a thematic analysis approach to examine data collected from various sources regarding the use of DLT applications in central bank payment system functions, such as central bank white papers, industry reports, and policy documents. The study's findings on blockchain-based payment systems barriers and proposed solutions; challenge the prevailing emphasis on technological and regulatory barriers in the literature and industry discourse regarding the adoption and implementation of blockchain-based payment systems. It highlights the importance of considering the broader socio-technical context and identifying barriers across all five dimensions of the social technical framework, including technological, infrastructural, user practices/market, regulatory, and cultural dimensions. Furthermore, the research identified seven DLT applications in central bank payment system functions. These are grouped into three overarching themes: central banks' operational responsibilities in payment and settlement systems, issuance of central bank digital money, and regulatory oversight/supervisory functions, along with other ancillary functions. Each of these applications has unique motivations or value proposition, which is the underlying reason for utilizing in that particular use case

    Multidisciplinary perspectives on Artificial Intelligence and the law

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    This open access book presents an interdisciplinary, multi-authored, edited collection of chapters on Artificial Intelligence (‘AI’) and the Law. AI technology has come to play a central role in the modern data economy. Through a combination of increased computing power, the growing availability of data and the advancement of algorithms, AI has now become an umbrella term for some of the most transformational technological breakthroughs of this age. The importance of AI stems from both the opportunities that it offers and the challenges that it entails. While AI applications hold the promise of economic growth and efficiency gains, they also create significant risks and uncertainty. The potential and perils of AI have thus come to dominate modern discussions of technology and ethics – and although AI was initially allowed to largely develop without guidelines or rules, few would deny that the law is set to play a fundamental role in shaping the future of AI. As the debate over AI is far from over, the need for rigorous analysis has never been greater. This book thus brings together contributors from different fields and backgrounds to explore how the law might provide answers to some of the most pressing questions raised by AI. An outcome of the Católica Research Centre for the Future of Law and its interdisciplinary working group on Law and Artificial Intelligence, it includes contributions by leading scholars in the fields of technology, ethics and the law.info:eu-repo/semantics/publishedVersio

    Climate Change and Critical Agrarian Studies

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    Climate change is perhaps the greatest threat to humanity today and plays out as a cruel engine of myriad forms of injustice, violence and destruction. The effects of climate change from human-made emissions of greenhouse gases are devastating and accelerating; yet are uncertain and uneven both in terms of geography and socio-economic impacts. Emerging from the dynamics of capitalism since the industrial revolution — as well as industrialisation under state-led socialism — the consequences of climate change are especially profound for the countryside and its inhabitants. The book interrogates the narratives and strategies that frame climate change and examines the institutionalised responses in agrarian settings, highlighting what exclusions and inclusions result. It explores how different people — in relation to class and other co-constituted axes of social difference such as gender, race, ethnicity, age and occupation — are affected by climate change, as well as the climate adaptation and mitigation responses being implemented in rural areas. The book in turn explores how climate change – and the responses to it - affect processes of social differentiation, trajectories of accumulation and in turn agrarian politics. Finally, the book examines what strategies are required to confront climate change, and the underlying political-economic dynamics that cause it, reflecting on what this means for agrarian struggles across the world. The 26 chapters in this volume explore how the relationship between capitalism and climate change plays out in the rural world and, in particular, the way agrarian struggles connect with the huge challenge of climate change. Through a huge variety of case studies alongside more conceptual chapters, the book makes the often-missing connection between climate change and critical agrarian studies. The book argues that making the connection between climate and agrarian justice is crucial

    La traduzione specializzata all’opera per una piccola impresa in espansione: la mia esperienza di internazionalizzazione in cinese di Bioretics© S.r.l.

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    Global markets are currently immersed in two all-encompassing and unstoppable processes: internationalization and globalization. While the former pushes companies to look beyond the borders of their country of origin to forge relationships with foreign trading partners, the latter fosters the standardization in all countries, by reducing spatiotemporal distances and breaking down geographical, political, economic and socio-cultural barriers. In recent decades, another domain has appeared to propel these unifying drives: Artificial Intelligence, together with its high technologies aiming to implement human cognitive abilities in machinery. The “Language Toolkit – Le lingue straniere al servizio dell’internazionalizzazione dell’impresa” project, promoted by the Department of Interpreting and Translation (ForlĂŹ Campus) in collaboration with the Romagna Chamber of Commerce (ForlĂŹ-Cesena and Rimini), seeks to help Italian SMEs make their way into the global market. It is precisely within this project that this dissertation has been conceived. Indeed, its purpose is to present the translation and localization project from English into Chinese of a series of texts produced by Bioretics© S.r.l.: an investor deck, the company website and part of the installation and use manual of the Aliquis© framework software, its flagship product. This dissertation is structured as follows: Chapter 1 presents the project and the company in detail; Chapter 2 outlines the internationalization and globalization processes and the Artificial Intelligence market both in Italy and in China; Chapter 3 provides the theoretical foundations for every aspect related to Specialized Translation, including website localization; Chapter 4 describes the resources and tools used to perform the translations; Chapter 5 proposes an analysis of the source texts; Chapter 6 is a commentary on translation strategies and choices

    On the Utility of Representation Learning Algorithms for Myoelectric Interfacing

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    Electrical activity produced by muscles during voluntary movement is a reflection of the firing patterns of relevant motor neurons and, by extension, the latent motor intent driving the movement. Once transduced via electromyography (EMG) and converted into digital form, this activity can be processed to provide an estimate of the original motor intent and is as such a feasible basis for non-invasive efferent neural interfacing. EMG-based motor intent decoding has so far received the most attention in the field of upper-limb prosthetics, where alternative means of interfacing are scarce and the utility of better control apparent. Whereas myoelectric prostheses have been available since the 1960s, available EMG control interfaces still lag behind the mechanical capabilities of the artificial limbs they are intended to steer—a gap at least partially due to limitations in current methods for translating EMG into appropriate motion commands. As the relationship between EMG signals and concurrent effector kinematics is highly non-linear and apparently stochastic, finding ways to accurately extract and combine relevant information from across electrode sites is still an active area of inquiry.This dissertation comprises an introduction and eight papers that explore issues afflicting the status quo of myoelectric decoding and possible solutions, all related through their use of learning algorithms and deep Artificial Neural Network (ANN) models. Paper I presents a Convolutional Neural Network (CNN) for multi-label movement decoding of high-density surface EMG (HD-sEMG) signals. Inspired by the successful use of CNNs in Paper I and the work of others, Paper II presents a method for automatic design of CNN architectures for use in myocontrol. Paper III introduces an ANN architecture with an appertaining training framework from which simultaneous and proportional control emerges. Paper Iv introduce a dataset of HD-sEMG signals for use with learning algorithms. Paper v applies a Recurrent Neural Network (RNN) model to decode finger forces from intramuscular EMG. Paper vI introduces a Transformer model for myoelectric interfacing that do not need additional training data to function with previously unseen users. Paper vII compares the performance of a Long Short-Term Memory (LSTM) network to that of classical pattern recognition algorithms. Lastly, paper vIII describes a framework for synthesizing EMG from multi-articulate gestures intended to reduce training burden

    Next Generation Business Ecosystems: Engineering Decentralized Markets, Self-Sovereign Identities and Tokenization

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    Digital transformation research increasingly shifts from studying information systems within organizations towards adopting an ecosystem perspective, where multiple actors co-create value. While digital platforms have become a ubiquitous phenomenon in consumer-facing industries, organizations remain cautious about fully embracing the ecosystem concept and sharing data with external partners. Concerns about the market power of platform orchestrators and ongoing discussions on privacy, individual empowerment, and digital sovereignty further complicate the widespread adoption of business ecosystems, particularly in the European Union. In this context, technological innovations in Web3, including blockchain and other distributed ledger technologies, have emerged as potential catalysts for disrupting centralized gatekeepers and enabling a strategic shift towards user-centric, privacy-oriented next-generation business ecosystems. However, existing research efforts focus on decentralizing interactions through distributed network topologies and open protocols lack theoretical convergence, resulting in a fragmented and complex landscape that inadequately addresses the challenges organizations face when transitioning to an ecosystem strategy that harnesses the potential of disintermediation. To address these gaps and successfully engineer next-generation business ecosystems, a comprehensive approach is needed that encompasses the technical design, economic models, and socio-technical dynamics. This dissertation aims to contribute to this endeavor by exploring the implications of Web3 technologies on digital innovation and transformation paths. Drawing on a combination of qualitative and quantitative research, it makes three overarching contributions: First, a conceptual perspective on \u27tokenization\u27 in markets clarifies its ambiguity and provides a unified understanding of the role in ecosystems. This perspective includes frameworks on: (a) technological; (b) economic; and (c) governance aspects of tokenization. Second, a design perspective on \u27decentralized marketplaces\u27 highlights the need for an integrated understanding of micro-structures, business structures, and IT infrastructures in blockchain-enabled marketplaces. This perspective includes: (a) an explorative literature review on design factors; (b) case studies and insights from practitioners to develop requirements and design principles; and (c) a design science project with an interface design prototype of blockchain-enabled marketplaces. Third, an economic perspective on \u27self-sovereign identities\u27 (SSI) as micro-structural elements of decentralized markets. This perspective includes: (a) value creation mechanisms and business aspects of strategic alliances governing SSI ecosystems; (b) business model characteristics adopted by organizations leveraging SSI; and (c) business model archetypes and a framework for SSI ecosystem engineering efforts. The dissertation concludes by discussing limitations as well as outlining potential avenues for future research. These include, amongst others, exploring the challenges of ecosystem bootstrapping in the absence of intermediaries, examining the make-or-join decision in ecosystem emergence, addressing the multidimensional complexity of Web3-enabled ecosystems, investigating incentive mechanisms for inter-organizational collaboration, understanding the role of trust in decentralized environments, and exploring varying degrees of decentralization with potential transition pathways

    Constitutions of Value

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    Gathering an interdisciplinary range of cutting-edge scholars, this book addresses legal constitutions of value. Global value production and transnational value practices that rely on exploitation and extraction have left us with toxic commons and a damaged planet. Against this situation, the book examines law’s fundamental role in institutions of value production and valuation. Utilising pathbreaking theoretical approaches, it problematizes mainstream efforts to redeem institutions of value production by recoupling them with progressive values. Aiming beyond radical critique, the book opens up the possibility of imagining and enacting new and different value practices. This wide-ranging and accessible book will appeal to international lawyers, socio-legal scholars, those working at the intersections of law and economy and others, in politics, economics, environmental studies and elsewhere, who are concerned with rethinking our current ideas of what has value, what does not, and whether and how value may be revalued

    Interdisciplinarity in the Scholarly Life Cycle

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    This open access book illustrates how interdisciplinary research develops over the lifetime of a scholar: not in a single project, but as an attitude that trickles down, or spirals up, into research. This book presents how interdisciplinary work has inspired shifts in how the contributors read, value concepts, critically combine methods, cope with knowledge hierarchies, write in style, and collaborate. Drawing on extensive examples from the humanities and social sciences, the editors and chapter authors show how they started, tried to open up, dealt with inconsistencies, had to adapt, and ultimately learned and grew as researchers. The book offers valuable insights into the conditions and complexities present for interdisciplinary research to be successful in an academic setting. This is an open access book

    OBSERVATIONAL CAUSAL INFERENCE FOR NETWORK DATA SETTINGS

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    Observational causal inference (OCI) has shown significant promise in recent years, both as a tool for improving existing machine learning techniques and as an avenue to aid decision makers in applied areas, such as health and climate science. OCI relies on a key notion, identification, which links the counterfactual of interest to the observed data via a set of assumptions. Historically, OCI has relied on unrealistic assumptions, such as the ’no latent confounders’ assumption. To address this, Huang and Valtorta (2006) and Shpitser and Pearl (2006) provided sound and complete algorithms for identification of causal effects in causal directed acyclic graphs with latent variables. Nevertheless, these algorithms can only handle relatively simple causal queries. In this dissertation, I will detail my contributions which generalize identification theory in key directions. I will describe theory which enables identification of causal effects when i) data do not satisfy the ’independent and identically distributed’ assumption, as in vaccine or social network data, and ii) the intervention of interest is a function of other model variables, as in off-line, off-policy learning, iii) when these two complicated settings intersect. Additionally, I will highlight some novel ways to conceive of interventions in networks. I will conclude with a discussion of future directions

    LIPIcs, Volume 261, ICALP 2023, Complete Volume

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    LIPIcs, Volume 261, ICALP 2023, Complete Volum
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