• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.73
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• pp.21-42
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• 2017

A BPO is an irrevocable undertaking given by an Obligor Bank acting on behalf of the buyer to a Recipient Bank acting on behalf of the seller to pay on satisfaction of certain specified conditions. There have been a Trade Service Utility(TSU), a Transaction Matching Application(TMA) and ISO 20022 TSMT messages that core electronic technical systems linked to the BPO. As a key usefulness of the BPO, it brings to market an alternative means of satisfying the risk mitigation, financing and information management needs of banks and businesses engaged in trade. That is, corporates can spread the risk among multiple Obligor Banks by requesting multiple BPOs for the same trade transaction not to exceed the value of the initial transaction. Since the BPO replaces the manual document checking process with the electronic matching of data, buyers and sellers will benefit from significantly increased accuracy and objectivity. By using BPO, buyers and sellers can become trusted counterparties by demonstrating reliability and giving sellers the assurance of being paid on time as per the payment terms and conditions agreed. When compared to L/C, the BPO requires submission of data only. This requires a change of practice of those accustomed to dealing with physical documentation. The beneficiary of a BPO is the Recipient Bank which is always the Seller's Bank. In the meantime, banks will need to agree between themselves that the URBPO 750 will be applied, modified or excluded. However, customers of banks will face low transactional costs due to a fully automated process and standardized data formats used in international trade documentation. There is no amendment and cancellation rules in the URBPO 750s, but only have Assignment of Proceeds rules. As a result, the BPO is likely to enable new business opportunities, lower costs, fast transaction process and strengthen key customer relationships.

• Journal of applied mathematics & informatics
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• v.41 no.1
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• pp.95-105
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• 2023

To make the network energy efficient and to protect the network from malignant user's energy efficient grid based secret key sharing scheme is proposed. The cost function is evaluated to select the optimal nodes for carrying out the data transaction process. The network is split into equal number of grids and each grid is placed with certain number of nodes. The node cost function is estimated for all the nodes present in the network. Once the optimal energy proficient nodes are selected then the data transaction process is carried out in a secured way using malicious nodes filtration process. Therefore, the message is transmitted in a secret sharing method to the end user and this process makes the network more efficient. The proposed work is evaluated in network simulated and the performance of the work are analysed in terms of energy, delay, packet delivery ratio, and false detection ratio. From the result, we observed that the work outperforms the other works and achieves better energy and reduced packet rate.

• KIISE Transactions on Computing Practices
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• v.22 no.1
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• pp.26-31
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• 2016

Migrim(Migration enhanced Grid Middleware) is a communication middleware between embedded devices and multiple servers. In traditional client-server communication, users' requests are sent to and processed by a designated server even though the server may suffer from a heavy load. In addition, the designated server may not have proper information to process the user's request correctly. Proposed connection migration mechanism and transaction migration mechanism are designed to improve the performance and accuracy of request processing. The connection migration is a procedure for delegating a connection to another server, which results in a well-distributed balancing of load among the servers. The transaction migration is a procedure for delegating a transaction to another server, and improves the accuracy of response.

• The Journal of the Korea Contents Association
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• v.10 no.7
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• pp.115-121
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• 2010

It always must guarantee preceding process of the transaction with the higher priority in real-time database systems. The pessimistic concurrency control method resolves a conflict through aborting or blocking of a low priority transaction. However, if a high priority transaction is eliminated in a system because of its deadline missing, an unnecessary aborting or blocking of a low priority transaction is occurred. In this paper, the proposed method eliminates a transaction that is about to miss its deadline. And it prevents needless wastes of resources and eliminates unnecessary aborting or blocking of a low priority transaction. It is shown through the performance evaluation that the proposed method outperforms the existing methods in terms of the deadline missing ratio of transactions.

• Journal of Internet of Things and Convergence
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• v.10 no.1
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• pp.7-12
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• 2024

To trade cryptocurrency, traders require a personal cryptocurrency wallet. Cryptocurrency itself using blockchain technology is guaranteed excellent security and reliability, so the threat of blockchain hacking is almost impossible, but the exchange environment used by traders for transactions is most subject to hacking threats. Even if transactions are made safely through blockchain during the transaction process, if the trader's wallet information itself is hacked, security cannot be secured in these processes. Exchange hacking is mainly done by stealing a trader's wallet information, giving the hacker access to the victim's wallet assets. In this paper, to prevent this, we would like to reconstruct the existing Hyperledger Fabric structure and propose a system that verifies the identity integrity of traders during the transaction process using whitelisting. The advantage is that through this process, damage to cryptocurrency assets caused by hackers can be prevented and recognized. In addition, we aim to point out and correct problems in the transaction process that may occur if the victim's wallet information is stolen from the existing Hyperledger Fabric.

• International Commerce and Information Review
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• v.9 no.1
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• pp.3-21
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• 2007

The explosive growth of e-marketplace transactions requires an appropriate trust measuring framework to protect involving transacting entities such as buyers and sellers. As a strategic competitive edge, e-marketplace service providers have been adopting various system features that make sure no one transacting entity takes a major risk in online transactions involved. In this paper, an improved trust measuring method using fuzzy theory for an e-marketplace is proposed. The proposed methodology incorporates fuzzy set and calculation concepts to help build trust matrices and models, which are used to measure the level of risk involved in a specific e-marketplace transaction concerned. The proposed framework can be utilized to optimize the transaction costs by recommending a differentiated transaction process according to the risk level involved in each online transaction.

• Asia pacific journal of information systems
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• v.23 no.2
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• pp.41-66
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• 2013

IS outsourcing has an important meaning to the Korean SME's (Small and Medium Enterprises) which want to use the IS Services. The objective of this research is to manage IT risks occurred during IS outsourcing project process. This study tries to identify these risks using real option methodology. In order to perform this objective, this study set up the research model which is composed of two main concepts. The first one is the risk factors occurred during IS outsourcing project process: User's Risks, Supplier's Risks and Transaction's Risks. All of these risks are based on Transaction Cost Theory. The second one is the intention to get (or buy) Real Options to manage the risks. In the research model, two types of real option are included: option to abandon (put option) and option to defer (call option). This study uses questionnaires and statistics methodology (PLS) to analyze the hypotheses proposed in the research model. Compared with prior studies, this study is different in two ways. First, this study restricts the range of IT risks. Prior researches of IT Risk management in MIS area cover various range of IT risks, but this study focuses on the Korean SME's IT outsourcing risks on the basis of Transaction Cost Theory. This study tests the relationship between the risks and real option types. Second, this study tries to test the moderating effect of user's risks and supplier's risks on the relationship between transaction's risks and real option types. In IT outsourcing research area, almost studies focus on the direct relationships between IT risks and outsourcing success. But in reality, the co-relationship among IT risks may occur. There are some findings according to the research analysis. First, risks related with user's risks have strong causal relationships with the intention to get option to abandon (put) and option to defer. But risks related with supplier's risks have causal relationships only with option to abandon (put). Second, user's risks and supplier's risks have no moderating effect on the relationship between transaction's risks and real option types. According to the research results, this research have some important and interesting implications on the IS outsourcing business area. First, this study identifies the effective types of real option to minimize the risks occurred during the IT outsourcing projects. So IS outsourcing service users can manage (or minimize) effectively the risks, which occurred during outsourcing projects, using real options. Second, real option gives benefits to suppliers and users at the same time (i.e., win-win strategies between IS outsourcing service providers and users). Vendors (:IS outsourcing service providers) can offer users the real options which can minimize the occurrence of risks in time. "IN TIME" means that before the IS outsourcing project starts, vendors can offer users the opportunity to buy real options in appropriate prices to manage the possibility of the risks of IS outsourcing project. And users also have chance to minimize the IT outsourcing risks occurred during the project process using real options.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.33
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• pp.247-275
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• 2007

This paper is to propose the Direction for the institutional improvement of Financial Supply Chain Management(FSCM) Solution which are currently coming into operation under Global e-Trading Platform. The Financial Supply Chain compromise the entire trade processes and information that manage a trader's cash, Accounts payable and receivable, Risk, working capital, and so on in international trade transaction. From a buyer's perspective, this involves the full procurement-to-payment process. For the seller, it is the order-to-cash cycle. Bolero provides the party concerned a e-trade platform which conformed to these fundamental pre-requisites to underpin fully electronic trade. But this FSCM solution have failed to provide the efficient platform to effectively manage the process of Global e-Trade because it does not correspond with e-Trade environment. Therefore, present FSCM system need the institutional improvement as follows: AA) Strengthening the role of the correspondent Bank under e-Trade System, BB) Extending the function of e-Trade intermediary institution, CC) The introduction of Trade Insurance System, etc. So, by streamlining and automating these processes on an open and flexible platform, The party concerned can optimize their trade transaction and maintain better relations with their business partners

• Journal of Convergence for Information Technology
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• v.9 no.4
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• pp.152-159
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• 2019

The purpose of this study is to investigate the effect of transaction characteristics on transaction cost and choice intention by applying transaction cost theory to experiential product. Experience-specificity, transaction uncertainty, and personal uncertainty are proposed to reflect the characteristics of experiential products, and the effects of these variables on transaction costs and transaction costs are assumed to have an influence on the choice intention. The results of this study are summarized as follows. First, experience-specificity(site, physical equipment, knowledge skill, temporal), transactional uncertainty(product-, process-), personal uncertainty (preference-, and situation-) have a significant positive effect on transaction cost. Second, transaction costs (search, comparison, examination, negotiation, payment, delivery) have a significant negative effect on the choice intention of the experiential product. The results of this study show that the increase of transaction costs can reduce the choice of experiential products and the strategic consideration of experience specificity, transaction uncertainty and individual uncertainty are required to reduce transaction costs. In addition, experiential products lacked access from a transactional and cost-based point of view, and this study contributes theoretically by compensating for the lack.

• International Commerce and Information Review
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• v.7 no.3
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• pp.195-212
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• 2005

International trade has been changed from traditional trade to e-trade due to the fast expanding of information technology like e-marketplace, EDI (Electronic data interchange) using Internet since mid of 1990's. e-Trade, as a new trade method, could handle every trade procedure such as market research, contract, customs clearance, logistics and payment using IT like internet without restriction of time and space. The evolution of transaction-based business model is upon us. The business models of many e-Marketplace in their early stages have typically been based on transaction fees. Many e-Marketplaces have even called out transaction revenues as a core element of their business plans. The transaction business represents the most simple of business models, but it does not provide a long-term sustain able advantage. For buyer's convenience, wide selection and test price hold appeal. For suppliers, the extended global market reach and direct access to customers and consortiums of customers is powerful. To maximize leverage of these new e-marketplace, you must from both a buyer perspective as well as a supplier perspective. Also required is a strategy that takes in account all of the various e-Marketplace transaction standards and one that allows the easy accomodation to new e-marketplace as the market change. These new e-marketplace will need to be factored into the sales channel strategies. To be successful, integration with these e-marketplaces should occur at a complete business process level. This study would suggest on the role of buyers and sellers for e-trade which could maximize effect of e-trade in order to cope with rapid changing IT environment and global trade environment. Therefore, this study suggests top priority tasks for implementing on the specialization strategy of e-trade process.