• Title/Summary/Keyword: Central Bank

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An Offline Electronic Payment System Based on an Untraceable Blind Signature Scheme

  • Kutubi, Md. Abdullah Al Rahat;Alam, Kazi Md. Rokibul;Tahsin, Rafaf;Ali, G.G. Md. Nawaz;Chong, Peter Han Joo;Morimoto, Yasuhiko
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.11 no.5
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    • pp.2628-2645
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    • 2017
  • This paper proposes a new offline electronic payment (e-payment) system that satisfies the major security requirements of e-payment, i.e. anonymity, unlinkability, unforgeability, double spending control, conditional traceability, and fraud prevention. The central idea is the use of Hwang et al.'s RSA-based untraceable blind signature (BS), which disables the link between the e-coin and its owner and ensures the anonymity of both the customer and the merchant. It attaches an expiration, a deposit and the transaction dates to each e-coin in order to manage the database of the bank effectively, to correctly calculate the interest on the e-coin and to aid arbitration if a dishonest customer attempts to double-spend the coin. It also ensures the anonymity of the customer as long as the coin is spent legitimately. Only when a fraudulent e-coin transaction is detected can the bank, with the help of the central authority (a trusted entity), determine the identity of the dishonest customer. The system is referred to as offline since the bank does not need to be concurrently involved in transactions between a customer and a merchant. Finally, analyses of the performance of the prototype and the primary security requirements of the proposed system are also presented.

THE CIRCULATION IN CHINJU BAY 2. Results of Drift Bottle Experiments (진주만의 해수 유동에 관하여 2. 해류병 표류 실험 결과)

  • CHANG Sun-duck
    • Korean Journal of Fisheries and Aquatic Sciences
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    • v.3 no.2
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    • pp.137-147
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    • 1970
  • From November 1968 to March 1970, a series of drift bottle experiments were carried out in waters adjacent to and in Chinju Bay with the following results. Of the bottles released, $50\~69$ per cent were recovered. 1. The circulation of Chinju Bay is usually caused by the tidal current except during the winter season when the northwest monsoon prevails to cause a wind-drift current. 2. Sea water in the southern part of Chinju Bay flows northward at ebb tide. The ebb current east of the central submarine bank in Chinju Bay flows northeastward toward Samchonpo Channel through the eastern depression of the bank contributing to form a cyclonic eddy. The ebb current west of the bank, however, flows northward toward Noryang Channel through the western depression of the bank. 3. The ebb current nea. the southernmost part of Chinju Bay flows eastward toward Chijok Channel. 4. At flood tide, the main stream of the tidal current in Noryang Channel flows eastward. Turning smoothly to the right, the southern branch of the flood current flows southward through the depression and along the isobaths at the western margin of the central submarine bank, while the northern branch, turning to the left, flows into the Chin-gyo Bay of Hadong. 5. flood current in the eastern area of Kwang-yang Inlet runs northeastward toward Noryang Channel. A small eddy develops near Kwanumpo of Namhae Island. 6. The results suggest that such a drift bottle experiment can be recommended for the attestation of currents, although it is not suitable for a quantitative study of coastal currents.

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Neuroprotective Effect of the Water-insoluble fraction of Root Barks of Dictamnus dasycarpus 70% Ethanolic Extract on Glutamate-Induced Oxidative Damage in Mouse Hippocampal HT22 Cells (백선피 70% 에탄올 추출물의 비수용성 분획물의 뇌세포 보호 효과)

  • Choi, Hyun-Gyu;Lee, Dong-Sung;Li, Bin;Jun, Ki-Yong;Jeong, Gil-Saeng;Kim, Youn-Chul
    • Korean Journal of Pharmacognosy
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    • v.42 no.2
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    • pp.175-181
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    • 2011
  • Oxidative stress or accumulation of reactive oxygen species (ROS) leads neuronal cellular death and dysfunction, and it contributes to neuronal degenerative disease such as Alzheimer's disease, Parkinson's disease and stroke. Glutamate is one of the major excitatory neurotransmitter in the central nervous system (CNS). Glutamate contributes to fast synaptic transmission, neuronal plasticity, outgrowth and survival, behavior, learning and memory. In spite of these physiological functions, high concentration of glutamate causes neuronal cell damage, acute insults and chronic neuronal neurodegenerative diseases. Heme oxygenase-1 (HO-1) enzyme plays an important role of cellular antioxidant system against oxidant injury. NNMBS020, the water-insoluble fraction of the 70% EtOH extract of root barks of Dictamnus dasycarpus, showed dominant neuroprotective effects on glutamate-induced neurotoxicity in mouse hippocampal HT22 cells by induced the expression of HO-1 and increased HO activity. In mouse hippocampal HT22 cells, NNMBS020 makes the nuclear accumulation of Nrf2 and stimulates extracellular signal-regulated kinase (ERK) pathway. The ERK MAPK pathway inhibitor significantly reduced NNMBS020-induced HO-1 expression, whereas the JNK and p38 inhibitors did not. In conclusion, the water-insoluble fraction of the 70% EtOH extract of root barks of D. dasycarpus (NNMBS020) significantly protect glutamate-induced oxidative damage by induction of HO-1 via Nrf2 and ERK pathway in mouse hippocampal HT22 cells.

Neuroprotective Effects of Cambodian Plant Extracts on Glutamate-induced Cytotoxicity in HT22 Cells

  • Keo, Samell;Lee, Dong-Sung;Li, Bin;Choi, Hyun-Gyu;Kim, Kyoung-Su;Ko, Won-Min;Oh, Hyun-Cheol;Kim, Youn-Chul
    • Natural Product Sciences
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    • v.18 no.3
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    • pp.177-182
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    • 2012
  • Oxidative stress potentially induces neurotoxicity which is believed to underlie several major age-related diseases of the central nervous system. This study sought to identify the cytoprotective effects of sixty-nine Cambodian plants against glutamate-induced cell death. Cultured HT22 cells were applied as an in vitro model, and neurotoxicity was induced in these neuronal cells by exposure to a determined concentration of glutamate. Sixty-nine plant sources, as Cambodia's indigenous species, were purchased from O'reusey Market, Phnom Penh, and extracted with ethanol. These extracts were screened for cytoprotective effects against glutamate-triggered neurotoxicity in HT22 cells at concentrations of 100 and 300 ${\mu}g/ml$. Of these, eight ethanol extracts, bark of Anacardium occidentale, bark and sapwood of Bauhinia pulla, flowers of Borassus flabellifer, stems and leaves of Coix lacryma-jobi, bark and sapwood of Diospyros nitida, sapwood of Dipterocarpus obtusifolius, stems of Oryza rufipogon, and fruits of Phyllanthus emblica, showed significant cytoprotective effects against glutamate-induced cell damage and degeneration in HT22 cells.

A Literature Study on Digital Currency and Historical Developments of Money: Dynamic Pattern in Currency, Central Bank Digital Currency and Libra (디지털화폐와 화폐 변천과정에 관한 문헌적 연구: 동적패턴, CBDC, 리브라를 중심으로)

  • Kim, Euiseok
    • The Journal of Society for e-Business Studies
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    • v.25 no.2
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    • pp.109-126
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    • 2020
  • This study attempts to find out the characteristics of digital currency and currency transformation through the analytical descriptions of the literature. In the early days of the emergence of new currency, market-oriented autonomous monetary adjustment was made along with various attempts by the private sector, and then government-centered central currency management and coordination were made for the national monopoly of profits and power. Digital currency can be seen as the emergence of a new form of money that will bring about paradigm changes. CBDC can be divided into direct and indirect types. CBDC is expected to require a strategic approach by the government or firm as it will bring about changes in the ecosystem of related industries. Libra is a stablecoin designed to minimize price fluctuations, and if it succeeds in commercializing it, it is expected to bring about revolutionary changes in the financial industry around the world.

Optimal Monetary Policy System for Both Macroeconomics and Financial Stability (거시경제와 금융안정을 종합 고려한 최적 통화정책체계 연구)

  • Joonyoung Hur;Hyoung Seok Oh
    • KDI Journal of Economic Policy
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    • v.46 no.1
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    • pp.91-129
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    • 2024
  • The Bank of Korea, through a legal amendment in 2011 following the financial crisis, was entrusted with the additional responsibility of financial stability beyond its existing mandate of price stability. Since then, concerns have been raised about the prolonged increase in household debt compared to income conditions, which could constrain consumption and growth and increase the possibility of a crisis in the event of negative economic shocks. The current accumulation of financial imbalances suggests a critical period for the government and central bank to be more vigilant, ensuring it does not impede the stable flow of our financial and economic systems. This study examines the applicability of the Integrated Inflation Targeting (IIT) framework proposed by the Bank for International Settlements (BIS) for macro-financial stability in promoting long-term economic stability. Using VAR models, the study reveals a clear increase in risk appetite following interest rate cuts after the financial crisis, leading to a rise in household debt. Additionally, analyzing the central bank's conduct of monetary policy from 2000 to 2021 through DSGE models indicates that the Bank of Korea has operated with a form of IIT, considering both inflation and growth in its policy decisions, with some responsiveness to the increase in household debt. However, the estimation of a high interest rate smoothing coefficient suggests a cautious approach to interest rate adjustments. Furthermore, estimating the optimal interest rate rule to minimize the central bank's loss function reveals that a policy considering inflation, growth, and being mindful of household credit conditions is superior. It suggests that the policy of actively adjusting the benchmark interest rate in response to changes in economic conditions and being attentive to household credit situations when household debt is increasing rapidly compared to income conditions has been analyzed as a desirable policy approach. Based on these findings, we conclude that the integrated inflation targeting framework proposed by the BIS could be considered as an alternative policy system that supports the stable growth of the economy in the medium to long term.

Modeling of Sediment Transport and Sand Bank Formation in a Macrotidal

  • Park, Moon-Jin
    • Journal of the korean society of oceanography
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    • v.35 no.1
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    • pp.1-10
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    • 2000
  • A two-dimensional numerical model was applied to investigate the sediment transport and sand bank formation in a macrotidal sea, the Kyunggi and Asan Bays. The tidal residual currents show quite complex pattern including counter-rotating eddies off the northwestern corner of the Dugjeok Island that reflect the promontory effect. Complex residual eddies are also present off the coast of the Taeanbando and in the Asan Bay. Net sediment transport pattern shows that sandy sediments in the Kyunggi and Asan Bays are generally transported landward from the outer sea suggesting sediment trapping inside the bays. This phenomenon may be related to the formation and maintenance of numerous sand banks in this macrotidal sea. Alternate occurrences of deposition and erosion predicted from the numerical model along the coast of the Taeanbando with strong deposition on the southwestern part of the 'Jangansatoe'(JSB), a large sand ridge off the coast of the Taeanbando appear to reflect the loose connection of JSB, The 'Joongangcheontoe', a central sand bank (CSB) with the main axis in the NW-SE direction in the Asan Bay may undergo a modification with strong deposition along the northeastern flank. These results indicate that the sand banks are actively modified and maintained by the strong tidal currents in this shallow macrotidal sea.

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Influence of Credit on the Income of Households Borrowing from Banks: Evidence from Vietnam Bank for Agriculture and Rural Development, Kien Giang Province

  • Quang Vang, DANG;Viet Thanh Truc, TRAN;Hieu, PHAM;Van Nam, MAI;Quoc Duy, VUONG
    • The Journal of Asian Finance, Economics and Business
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    • v.10 no.2
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    • pp.257-265
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    • 2023
  • This paper investigates the determinants of credit accessibility and the effect of credit on the income of farm households borrowing from Vietnam Bank for Agriculture and Rural Development, Giong Rieng District Branch, Kien Giang Province. Based on the primary data of 200 farming households who are the customer of the bank, the study applied the Probit regression model to examine determinant factors of credit accessibility of farm households and employed the Propensity score matching method to investigate the impact of credit on households' income. The findings of the Probit regression shown that three independent variables that significantly influence the access to credit of households are household size, income source, and farm size. Besides that, the Propensity score matching method results showed a difference of 23.799 million VND/year between the income of borrowing households and that of non-borrowing households at the significance level of 1%. The difference in the imcome from the interval and central matching methods are VND 24.700 million VND/year and VND 24.633 million VND/year, respectively. Given empirical findings suggetsted that several recommendations to increase the credit accessibility of farm households, thereby creating favorable conditions for improving their income.

Development of Information Biology (I)

  • Tateno, Yoshio
    • Interdisciplinary Bio Central
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    • v.5 no.1
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    • pp.2.1-2.3
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    • 2013
  • Birth and development of information biology are introduced with its definition and scientific basis. The discipline lives on the two types of nutrition, one is a huge amount of biological data on genomes, gene expressions, proteomes, protein 3D structures, protein networks, and so forth. The other is the method of using them on a computer. The scientific basis of the two is evolution. To collect genome and gene expression data form laboratories in the world, annotate and dissimilate back to researchers worldwide, they built the EMBL database in Europe in 1982, GenBank in USA in 1984 and DNA Data Bank of Japan in 1987. On the other hand, the methods of using and analyzing those data have accordingly been developed. The two aspects advance the discipline further and further.

Pathological Status of Pyricularia angulata Causing Blast and Pitting Disease of Banana in Eastern India

  • Ganesan, Sangeetha;Singh, Hari Shankar;Petikam, Srinivas;Biswal, Debasish
    • The Plant Pathology Journal
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    • v.33 no.1
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    • pp.9-20
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    • 2017
  • Incidence of leaf blast on nursery plants and pitting disease on maturing banana bunches has been recorded in banana plantations during rainy season in Eastern India during 2014 to 2015. Taxonomical identification as well as DNA sequence analysis of the internal transcribed spacer region of fungus isolated from affected tissue culture derived plantlets and fruits confirmed the pathogen to be Pyricularia angulata Hashioka "in both the cases". Koch's postulates were proved on young plantlets as well as on maturing fruits of cv. Grand Naine under simulated conditions. Evolutionary history was inferred and presented for our P. angulata strain PG9001 with GenBank accession no. KU984740. The analysis indicated that the P. angulata is phylogenitically distinct from other related species related to both Pyricularia and Magnaporthe. Detailed symptoms of blast lesions on young leaves, transition leaves, mid rib, petioles, peduncle, maturing bunches, bunch stalks and cushions were documented. Notably, the distinct small pitting spots on maturing bunches reduced the visual appeal of mature fruits. Appearance of pitting symptoms on fruits in relation with age of fruits and their distribution pattern on bunch and fingers was also documented in detail. Further, the roles of transitory leaves, weed hosts, seasonality on disease occurrence have also been documented.