This essay describes and critically evaluates the important features of some approaches to the problem of incorporating money in general equilibrium models and ensuring a positive demand for money. The types of approaches considered are introducing money into the utility function, and modelling the transactions demand for money through the use of cash-in-advance constraints, real resource costs...

Anonymous credential systems are a key ingredient for a secure and privacy protecting electronic world. In their full-fledged form, they can realize a broad range of requirements of authentication systems. However, these many features result in a complex system that can be difficult to use. In this paper, we aim to make credential systems easier to employ by providing an architecture and high-l...

Automated teller machine is very popular and most efficient ways for transaction of money. It perform financial transactions mostly cash withdrawal. It reduces the work load of banks as it is fully automated. Currently, Personal Identification Number(PIN) is used for security in ATMs and authentication is provided to the Users by entering the personal identification number (PIN).These PIN numbe...

Smartcards are used Today in many applications, including cash retrieval, shop transactions, on-line banking, Pay-TV services, anti-theft protection and many more. Many of these services attract the interest of people in pirating the smartcards. For example, an attacker might make an illegal copy of a smartcard used in Pay-TV services and sell it. The owner of this illegal copy could then benef...

A cryptocurrency is a digital currency backed by mathematics and cryptography, compared to traditional fiat money which was traditionally backed by gold or silver. The foundation of many cryptocurrencies is based on a key derivation scheme known as scrypt [3]. Cryptocurrencies, such as Bitcoin [2], provide a means of having a decentralized, distributed, peer-to-peer electronic cash system. Thes...

On September 25, 2001, the Payment Cards Center of the Federal Reserve Bank of Philadelphia sponsored a workshop on innovations in small dollar payments. The moderated discussion was led by Richard Corl, an entrepreneur with 25 years of experience in the electronic payments industry. From his perspective as a director of Ecount, a small dollar payments innovator, Corl described a range of chall...

Liquid assets play an important role in the financial system. They are generally defined as financial assets, such as cash and government securities, that can be readily used to fund payments, even in stressed market conditions. These assets are central to liquidity and credit risk management in financial markets. They are commonly used as collateral to obtain short-term funding and manage coun...

Electronic business (e-business) refers to the utilization of information and communication technologies (ICT) to support of all aspects of business (Turban et al., 2010). The term was first used by IBM's marketing and Internet teams in 1996 (Amor, 1999). E-business payment systems or solutions refer to the various innovative applications and approaches including the use of credit cards, magnet...

Automatic teller machine (ATM) is one of the most popular banking facilities to do daily financial transactions. People use ATM services to pay bills, transfer funds and withdraw cash. Accurate ATM forecasting for the future is one of the most important attributes to forecast because business sector, daily needs of people are highly largely dependent on this. In recent years, Neural Networks ha...

In this paper, we study the occurrence of local indeterminacy in two-sector monetary economies. In order to capture the credit market imperfections and the liquidity services of money, we consider a general MIUF model with two alternative timings in monetary payments: the Cash-In-Advance timing, in which the cash available to buy goods is money in the consumers’ hands after they leave the bond ...