• The Journal of Society for e-Business Studies
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• v.23 no.3
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• pp.13-32
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• 2018

Btcoin has made a big progress through anonymity, decentralized authority, sharing economy, multi-ledger book-keeping, block-technology and the convenient financial vehicle. Bitcoin has the characteristics of mining and supply by decentralized suppliers, limited supply quantity and the partial money-like function as well as gold. The paper studies the hedge and safe-haven of Bitcoin and gold on daily frequency data over the period of July 20, 2010-Dec. 27, 2017 employing Asymmetric Vector GARCH. It finds that gold has the hedge and safe-haven against inflation and capital markets while Bitcoin has the weak hedge and the weak safe-haven. It shows insignificant effects of inflations of US and Korea on the volatilities of Bitcoin and gold. It also suggests the necessity of clearing of vagueness behind the anonymity for fair and transparent trade through the law application in the absence or fault in law (Lucken im Recht). following the spirit of the living constitution (lebendige gutes Recht oder Vorschrift). The relevant institutions are hoped to be given some of obligations such as registration, minimum required capital. report, disclosure, explanation, compliance and governance with autonomous corresponding rights. The study also suggests the reestablishment of the relevant financial law and taxation law. The hedge would not be successfully accomplished without the vigilant cautions of investors.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.12
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• pp.603-611
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• 2020

Potholes on the road directly affect drivers' safety, satisfaction, and vehicle damage. Thus, real-time detection and response are required. Increasing frequency of patrols allows for potholes to be detected and responded to quickly, but this takes much manpower, money, and time. In addition, potholes have different occurrence characteristics depending on the rain conditions, so it is necessary to consider the optimal frequency from an economic and road-service perspective. Therefore, a quantitative analysis was done on the effects of rainfall on the occurrence characteristics of potholes. Information on the persistence, impact of rainfall intensity, and weather information was collected over a long period. Based on the results, a risk-based, optimized, and changeable road-patrol strategy is presented. The analysis results show that the probability of pothole occurrence increases by 2.4 times in rainy weather. Furthermore, the impact continues for 3 days even after the rain stops. The probability of pothole occurrence increases by 0.46% per 1 mm of rainfall, and the occurrence characteristics react sensitively to even a small amount of rain of around 1 mm. It was concluded that road patrol is required at least once every three days for an effect-free period, while twice a day is needed for the "sphere of influence" period to achieve a 95% reliability level.ys for effect-free period, while twice a day for sphere of influence period to satisfy 95% reliability level.