Related papers: Balancing the Payment System
Blockchain is a radical innovation with a unique value proposition that shifts trust from institutions to algorithms. Still, the potential of blockchains remains elusive due to knowledge gaps between computer science research and…
European energy markets are decentralized and entail balance responsibility of each market player. This stresses the importance of imbalance management of renewable energy sources (RES), as the imbalance payments can strongly reduce their…
The recent financial crisis has sharply revealed that current understanding of the global financial system is more than limited. In the recovery plan the confidence in the underlying theory is crucial. To address the problem we propose the…
Blockchain, a decentralized technology that provides unrivaled security, transparency, and process validation, is redefining the operational landscape across numerous industries. This article focuses on the development of an innovative…
This paper bridges social security design and general equilibrium theory to conceive optimally balanced pay-as-you-go systems. The design is based on the backward calculation algorithm from Dognini (2025), which is used to find optimal…
This paper proposes a balancing-based model reduction approach for an interconnection of passive dynamic subsystems. This approach preserves the passivity and stability of both the subsystems and the interconnected system. Hereto, one…
Traditional balance-of-payments (BoP) analysis treats national external positions as largely idiosyncratic time series. This misses an essential structural fact: global imbalances are jointly realized on a directed, weighted network of…
Innovation in the world of today is mainly driven by software. Companies need to continuously rejuvenate their product portfolios with new features to stay ahead of their competitors. For example, recent trends explore the application of…
Financial markets are undergoing an unprecedented transformation. Technological advances have brought major improvements to the operations of financial services. While these advances promote improved accessibility and convenience,…
In an economy with asymmetric information, the smart contract in the blockchain protocol mitigates uncertainty. Since, as a new trading platform, the blockchain triggers segmentation of market and differentiation of agents in both the sell…
In recent years, electronic retail payment mechanisms, especially e-commerce and card payments at the point of sale, have increasingly replaced cash in many developed countries. As a result, societies are losing a critical public retail…
Recently, the blockchain technique was put in the spotlight as it introduced a systematic approach for multiple parties to reach consensus without needing trust. However, the application of this technique in practice is severely restricted…
Load balancing algorithms play critical roles in systems where the workload has to be distributed across multiple resources, such as cores in multiprocessor system, computers in distributed computing, and network links. In this paper, we…
One 'problem' with the 21st century world, particularly the economic and business worlds, is the phenomenal and increasing number of interconnections between economic agents (consumers, firms, banks, markets, national economies). This…
As an important technology to ensure data security, consistency, traceability, etc., blockchain has been increasingly used in Internet of Things (IoT) applications. The integration of blockchain and edge computing can further improve the…
The growing complexity of real-world systems necessitates interdisciplinary solutions to confront myriad challenges in modeling, analysis, management, and control. To meet these demands, the parallel systems method rooted in Artificial…
Novel blockchain technology provides the infrastructure layer for the creation of decentralized appli-cations. A rapidly growing ecosystem of applications is built around financial services, commonly referred to as decentralized finance.…
Systemic risk arises as a multi-layer network phenomenon. Layers represent direct financial exposures of various types, including interbank liabilities, derivative- or foreign exchange exposures. Another network layer of systemic risk…
Blockchain technology, introduced in 2008, has revolutionized data storage and transfer across sectors such as finance, healthcare, intelligent transportation, and the metaverse. However, the proliferation of blockchain systems has led to…
Balanced truncation, a technique from robust control theory, is a systematic method for producing simple approximate models of complex linear systems. This technique may have significant applications in physics, particularly in the study of…