Search Results (63)

Local governments have introduced local currency systems to stimulate regional economies by encouraging local spending and preventing financial outflows. Since the success of a local currency depends on residents’ active participation, understanding consumer preferences is essential for designing effective systems. This study used a choice experiment and stated preference data to identify the features that most influence local currency adoption. Using the conditional logit model, the analysis revealed that purchase limits, merchant coverage, number of service businesses, local infrastructure, and incentives significantly impact users’ willingness to participate. The scenario analysis further highlighted the necessity of regional differentiation in currency platforms. By adopting an urban analytics approach, these results offer evidence-based insights for policymakers aiming to establish robust, spatially differentiated local currency platforms that bolster regional economic vitality across diverse urban contexts. Full article

The implementation of Central Bank Digital Currencies (CBDCs) faces significant challenges in achieving the same level of anonymity and convenience in offline transactions as cash. This limitation imposes considerable constraints on the development and widespread adoption of CBDCs. Unlike cash, digital currencies, similar to other electronic payment methods, necessitate internet or other network connectivity to verify payment eligibility. This study proposes a secure offline payment model for CBDCs that operates independently of internet or network connections by utilizing a Trusted Platform Module (TPM) to enhance the security of digital currency transactions. Additionally, the monotonic counter, the basic component of the TPM, is integrated into this model to prevent double spending in a completely offline environment. Our research presents a protocol model that combines these easily implementable technologies to facilitate the efficient processing of transactions in CBDCs entirely offline. However, it is crucial to acknowledge the security implications associated with the TPMs and near-field communications upon which this protocol relies. Full article

Highly Urbanized Cities (HUCs) in the Philippines were at the forefront of public health surveillance and response during the COVID-19 pandemic. With the rapid spread of COVID-19 to Philippine cities, local government units continuously assessed, adapted, and implemented public health interventions (PHIs) and depended on available open-source government data (OSGD). This study consolidated PHIs in selected HUCs in the Philippines using high-quality OSGD to create a timeline of interventions and document good practices in local COVID-19 control. OSGD resources were collected from February 2020 to January 2023, and the data quality of OSGD was evaluated using the Journal of the American Medical Association (JAMA) benchmarks. A total of 180 metadata sources that met at least two core standards (Authorship and Currency) were included in the analysis. COVID-19 control strategies were analyzed vis-à-vis the rise of COVID-19 cases and types of PHIs, including the control of imported cases, case management, contact management, behavioral modification, and pharmaceutical intervention. Travel bans and hard lockdowns in Luzon early in the pandemic delayed the introduction of COVID-19 to other parts of the country. Good practices of LGUs for local COVID-19 control, such as quarantine passes, curfews and liquor bans, using QR-based contact tracing, massive community testing in high-risk communities, and free public swabbing centers, were implemented to slow down the local spread of COVID-19. With the evolving scenarios in city-level COVID-19 epidemics, local risk assessments based on available OSGD drove the adoption of relevant and innovative control strategies in HUCs in the Philippines. Lessons learned must be integrated into epidemic preparedness and response programs against future emerging or re-emerging infectious diseases. Full article

Building on the Innovation Diffusion Theory, this study proposes and explores the influence of financial literacy on the behavioral intention to use central banks’ digital currency (CBDC) and the moderating role of trust of respondents in the financial institution on the above relationship. This study has employed a quantitative research design to examine the relationship between financial literacy, behavioral intention to use CBDC and trust. The final sample comprised 241 respondents who had used CBDC across India. The statistical relationship between the above variables was assessed using PROCESS macro in SPSS 23.0. Findings revealed that financial literacy emerges as a strong predictor of CBDC use. Individuals with higher financial literacy are more likely to understand the features, benefits and risks associated with adopting CBDC. The interaction effect reveals that as financial literacy increases, the relative importance of trust diminishes. On the other hand, those who lack sufficient knowledge of financial literacy depend more on trust to fill in their knowledge gaps. This is one of the first studies to scientifically support the relationship between trust and financial literacy and how both influence behavioral intention to use CBDC. This research contributes valuable knowledge to the discourse on the use of CBDC, which is crucial for achieving a nation’s broader digital transformational goal. Full article

The rise of cryptocurrencies over the past decade has promised to challenge the dominance of fiat money systems and reshape monetary policy. However, recent developments, including market volatility and the collapse of key exchanges like FTX, have eroded public trust, raising skepticism of a feasible transition to a crypto-based monetary system. This paper explores why cryptocurrencies have not met the expectations of their proponents, particularly those who saw them as a step towards Friedrich Hayek’s vision for competitive currency issuance. While cryptocurrencies reflect some aspects of Hayek’s model, their instability—especially in Bitcoin-like assets—undermines their role as a reliable alternative to fiat money. The paper also considers how central bank independence and regulatory gaps further hinder the development of a robust cryptocurrency framework. Despite the continued relevance of Hayek’s ideas in today’s monetary landscape, the entrenched structures of modern central banks and the rise of Central Bank Digital Currencies suggest that a decentralised currency order remains unlikely in the near future. Full article

Progress and development in the overall industrial sector have been revolutionized by the advent of advanced digital tools and technologies, transitioning towards Industry 5.0 (I5.0), and the term Construction 5.0 (C5.0) is derived from the emergence of I5.0 in Europe. Given its currency, C5.0 remains a nascent and under-explored research area. This review article presents a bibliometric analysis of studies on C5.0, identifying and analyzing challenges and opportunities in its adoption and exploring the strategies to overcome such challenges and ways to maximize productivity from potential opportunities. Fifty-seven relevant documents were studied to accomplish the aim of this study, which were identified from the Scopus database, evaluated, and included based on the PRISMA framework. The findings showed a relatively small but growing body of literature on C5.0 research, which is disseminated globally and grouped into four specific objective categories. This pattern suggests a growing recognition of C5.0’s potential in the construction field, reflecting its expanding influence in the scientific community. Furthermore, the study examined seven critical challenges, including insufficient technological maturity, the absence of standardization, privacy concerns, ethical considerations, and more. It also explores four potential opportunities associated with the adoption of the C5.0 vision, emphasizing its alignment with societal objectives, sustainability initiatives, personalization, and profitability. Full article

In the last few years, blockchain has emerged as a cutting-edge technology whose main advantages are transparency, traceability, immutability, enhanced efficiency, and trust, thanks to its decentralized nature. Although many people still identify blockchain with cryptocurrencies and the financial sector, it has many prospective applications beyond digital currency that can serve as use cases for which traditional infrastructures have become obsolete. Governments have started exploring its potential application to public services provision, as confirmed by the increasing number of adoption initiatives, projects, and tests. As the current public administration is often perceived as slow, bureaucratic, lacking transparency, and failing to involve citizens in decision-making processes, blockchain can establish itself as a tool that enables a process of disintermediation, which can revolutionize the way in which public services are managed and provided. In this paper, we will provide a survey of the main application areas which are likely to benefit from blockchain implementation, together with examples of practical implementations carried out by both state and local governments. Later, we will discuss the main challenges that may prevent its widespread adoption, such as government expenditure, technological maturity, and lack of public awareness. Finally, we will wrap up by providing indications on future areas of research for blockchain-based technologies. Full article

In light of the escalating necessity for sustainability within Lebanese small to medium-sized enterprises, these organizations are considered contributors to ecological damage. As a consequence, many of these enterprises adopted green human resource management practices encouraging employees toward sustainable behaviors. This is in conformity with the principles of the circular economy that aim to shun resource depletion and resonate with the country’s currency devaluation, political instability, and lack of access to resources. Given this background, this study aims to examine the influence of green human resource management practices on organizational pride, brand citizenship behavior, and turnover intention, moderated by individual green values. This study adopted a mixed-methods approach, collecting quantitative data from 202 employees working for small to medium-sized enterprises through a questionnaire, and qualitative insights through semi-structured interviews from eight managers; these were then analyzed using PLS-SEM and thematic analysis. The results showed that green human resource management practices lead to an increase in organizational pride, which positively influences brand citizenship behavior and negatively affects turnover intention. Individual green values positively moderate the aforementioned relationships. Understanding such detailed interrelationships adds insights into the literature of green practices. Moreover, this is the initial empirical investigation that integrates these concepts within the small to medium-sized enterprise context and provides comprehensive insights to stakeholders to enhance sustainability through appropriate human resource management strategies. Full article

In recent years, the rapid development of autonomous driving and intelligent driver assistance has brought about urgent demands on high-precision road maps. However, traditional road map production methods mainly rely on professional survey technologies, such as remote sensing and mobile mapping, which suffer from high costs, object occlusions, and long updating cycles. In the era of ubiquitous mapping, crowdsourced trajectory data offer a new and low-cost data resource for the production and updating of high-precision road maps. Meanwhile, as key nodes in the transportation network, maintaining the currency and integrity of road intersection data is the primary task in enhancing map updates. In this paper, we propose a novel approach for detecting road intersections based on crowdsourced trajectory data by introducing an attention mechanism and modifying the loss function in the YOLOv5 model. The proposed method encompasses two key steps of training data preparation and improved YOLOv5s model construction. Multi-scale training processing is first adopted to prepare a rich and diverse sample dataset, including various kinds and different sizes of road intersections. Particularly to enhance the model’s detection performance, we inserted convolutional attention mechanism modules into the original YOLOv5 and integrated other alternative confidence loss functions and localization loss functions. The experimental results demonstrate that the improved YOLOv5 model achieves detection accuracy, precision, and recall rates as high as 97.46%, 99.57%, and 97.87%, respectively, outperforming other object detection models. Full article

During the 2008 financial crisis, central banks (such as the Fed) adopted a quantitative easing (QE) policy to stimulate their countries’ economies and overcome severe economic and financial recessions. However, apart from stimulating the economy by issuing a substantial amount of currency to purchase long-term bonds and suppress interest rates, QE policy also contributed to a boom in the real estate and construction sectors. Therefore, this study employs data envelopment analysis to measure the business performance (BP) of construction companies, and explore the impact of QE policy on the BP of construction companies, between 2004 and 2015, using hierarchical regression. We also examine the moderating role of the debt ratio on the relationship. Focused on publicly listed construction companies in Taiwan, this research reveals three encouraging findings. Firstly, QE policy indeed enhanced the BP of Taiwanese construction companies. Secondly, performance improvements in construction companies due to QE policy show a time-diminishing trend, suggesting the importance of seizing the initial policy benefits of QE implementation. Lastly, construction companies with appropriate financial leverage may exhibit better BP. These findings can provide valuable insights for relevant government entities and decision-makers in the industry for policy and investment decisions. Full article

This study examines the relationships between Greek macroeconomic variables, examining before and after the euro’s introduction as a currency. We conducted an extensive analysis from 1980 to 2019, examining various economic indicators such as government expenditure, unemployment rates, taxation, inflation, and national debt, employing causal and correlation analysis and econometric modeling with and without time-varying effects. The results revealed a significant correlation between the introduction of the euro and a tighter relationship between government spending and unemployment levels, while one more remarkable point was that higher government spending or debt reduction initiatives appeared to positively impact joblessness, particularly in the context of the euro. Our research underscored the correlation between national debt and government spending as increased debt led to reduced government expenditure and vice versa. Unemployment cited an increased impact on government spending right after the euro adoption, and on the other hand, the effect of unemployment on government spending decreased. The debt–government spending nexus was decreasing for many years before the euro adoption, while just before the euro adoption, the relationship between debt and government spending was rather stable. Finally, during the euro adoption, the effect of inflation on tax increased, while the corresponding inflation tax remained stable. Our findings have significant implications for policymakers shaping the economic strategies in Greece as they point out the necessity for stable and balanced approaches that manage government spending and debt to address unemployment effectively. Full article

Efforts for carbon emission reduction have been identified as a major climate change mitigation target in the Paris Agreement. The 26th Conference of Parties to the United Nations Framework Convention on Climate Change highlighted the worldwide effort for cleaner and greener mining, urging the mineral industry to embrace greener operational emissions reduction technologies and strategies. At the Paris Conference, Ghana pledged to reduce CO₂ emissions by 15% and increase its renewable energy share to 10% of the national energy mix. Ghana’s efforts to implement a low-carbon policy were, however, hampered for several reasons. Ghana is Africa’s leading and the world’s seventh largest gold producer. Mining has contributed significantly to foreign currency acquisition and government revenue. The gold mining sector contributes approximately 95% of Ghana’s total mineral revenue. Considering these situations, the fundamental question is how Ghana’s mining industry can contribute to CO₂ emission reduction efforts. This paper investigates barriers to low-carbon emission policy implementation among mining companies in Ghana. We adopted 5-point Likert scale statement questions. The questionnaire survey was conducted among Ghana’s four large-scale gold mining companies. As the sample number of available companies is limited, we used a descriptive analysis to assess the responses. The results show that the companies expressed widely different ways to respond to the issues of cost, a government policy for carbon emission reduction, and the acquisition of low-carbon technologies. Those companies that are relatively less prepared for this endeavor emphasized the uncertainties of securing sufficient energy in case of using low-carbon technologies. They also expressed a need for more trained workers to handle low-carbon technologies. We found that a major challenge among companies was the expected cost involved in implementing a low-carbon emission policy. There was a communication gap with the relevant government ministry about low-carbon mining options where the government should be able to facilitate the involvement of low-carbon technology providers, such as solar Photovoltaics installation. Full article

With the advent of IoT, cities will soon be populated by autonomous vehicles and managed by intelligent systems capable of actively interacting with city infrastructures and vehicles. In this work, we propose a model based on reinforcement learning that teaches to autonomous connected vehicles how to save resources while navigating in such an environment. In particular, we focus on budget savings in the context of auction-based intersection management systems. We trained several models with Deep Q-learning by varying traffic conditions to find the most performance-effective variant in terms of the trade-off between saved currency and trip times. Afterward, we compared the performance of our model with previously proposed and random strategies, even under adverse traffic conditions. Our model appears to be robust and manages to save a considerable amount of currency without significantly increasing the waiting time in traffic. For example, the learner bidder saves at least 20% of its budget with heavy traffic conditions and up to 74% in lighter traffic with respect to a standard bidder, and around three times the saving of a random bidder. The results and discussion suggest practical adoption of the proposal in a foreseen future real-life scenario. Full article

This study investigates the influence of a country’s financial access and stability and the adoption of retail central bank digital currencies (CBDCs) across 71 countries. Using an ordinal logit model, we examine how individual financial access, the ownership of credit cards, financing accessibility by firms, offshore loans, financial sanctions, and the ownership structure of financial institutions influence the probability of CBDC adoption in nations. These findings reveal that nations facing financial sanctions and those with substantial offshore bank loans are more inclined to adopt CBDCs. Furthermore, a significant relationship is observed in countries where many people have restricted financial access, indicating heightened interest in CBDC adoption. Interestingly, no statistically significant relationship was found between the adoption of CBDCs and the percentage of foreign-owned banks in each country. The results show that countries with low financial stability and financial access adopt CBDCs faster. This study expands our knowledge of how a nation’s financial situation influences its adoption of CBDCs. The results provide important and relevant insights into the current discussion of the direction of global finance. Full article

The advent of cryptocurrencies and blockchain technology has sparked a revolutionary shift in the financial sector. This study sets out on a wide-ranging investigation to understand the nuanced dynamics, repercussions, and potential future paths of this shifting environment in the UK and USA. The primary goals of the research are to examine how cryptocurrencies affect financial markets and conventional banking systems; to examine how blockchain technology might be used in the financial sector; to assess policy and regulatory considerations; and to predict and plan for the future. This research digs into how cryptocurrencies have revolutionized the banking and finance sectors. Analysis of adoption rates, market volatility, and integration methods sheds light on the changing position of cryptocurrencies in investment portfolios, reconfiguration of asset classes, and coping mechanisms of conventional financial institutions. When looking at the financial sector as a whole, the transformational potential of blockchain technology becomes clear. The advent of DeFi, smart contracts, and asset tokenization offers new prospects to improve financial transactions, increase transparency, and broaden participation in the investment market. The research analyzes cryptocurrencies and blockchain technology from a policy and regulatory perspective. The delicate balancing act between stimulating innovation and guaranteeing consumer protection, market integrity, and financial stability is highlighted by a comparison of the regulatory methods adopted in the United Kingdom and United States, as well as proposals from international organizations. The research identifies potential future paths for these technologies and their implications. Opportunities and challenges that will influence the future of finance emerge, with a focus on central bank digital currencies (CBDCs), sustainable blockchain solutions, and interdisciplinary collaborations. As this deep dive comes to a close, the transformational power of cryptocurrencies and blockchain technology is highlighted. It sheds light on the forces that are altering the structures of the world’s financial markets, conventional banking structures, and regulatory frameworks. The findings and critical assessment stress the need for well-considered choices, ethical innovation, and interdisciplinary cooperation in order to succeed in an ever-changing environment. To further democratize access, improve transparency, and reshape the economic fabric of our planet, the future of finance resides at the confluence of tradition and innovation, where cryptocurrencies and blockchain technology exist. Full article