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Introduction: As internet and communication technologies are getting developed, the commercial transaction is becoming more electronic. This change also brings new approaches to new payment mechanisms like emergence of crypto currencies. They are virtual and digital currencies which can only be used in electronic environment but they are increasingly treated as a new payment and investment tool. Nevertheless, their use has not spread into the general public, yet. At this point, it will better to take the complex nature of the crypto currencies into consideration because it may still lead to some risks for people and the type of the risks perceived by consumers may influence their attitudes toward and intention to use crypto currencies.

Aim: Accordingly, this study attempts to examine the interaction between perceived risk, attitudes toward and intention to use crypto currencies within the context of Bitcoin, as the first crypto currency.

Method: This study was designed as a causal research. The sample of the study was reached by using convenience sampling method and data were collected with survey. The compiled data were tested with Structural Equation Model.

Findings: A statistically significant and negative relationship was found between perceived financial, time and psychological risk and attitudes toward the use of Bitcoin, and a statistically significant and positive relationship was found between attitudes toward and intention to use Bitcoin. The findings of the study are expected to contribute to both relevant literature and practice by explaining the financial behavior of the individuals within the context of perceived risk theory.

There has been a financial revolution lead by technology firms over the past decade. Many large established technology giants, from Google, Apple to Amazon in the US are entering the financial service industry. Smaller start-ups, in particular robotic advisors, a.k.a. Robo-Advisors, have been taking market shares from traditional asset management firms. In China, firms like Tencent and Alibaba have created a whole new field of online finance. At the center of our study is a critical examination of the key components of the financial innovation over the past 10 years. Mobile banking was the beginning, followed by trading, investment, and insurance business. We study innovation through several cases. Due to the size and number o firms in Financial technology (FinTech) space, the US and China are the focus of the chapter. Artificial intelligence (AI) and machine learning are included for discussion in this chapter. We emphasize a market approach in our study, albeit, incorporating the historical and cultural perspectives in our analysis. Our goal is to develop a thorough understanding of the art and science of financial innovation, from both bottom-up market indicators and a top-down holistic view. We want to demonstrate that the technological changes are just the beginning of a new world of financial services. Unprecedented changes are still yet to come and it is crucially important to be prepared and even embrace the changes. A special discussion was devoted to the phenomenon of FinTech boom in Asia. Lastly, many new technologies are being developed to combat fraudulent activities in the FinTech space.

The purpose of this chapter is to determine the future trends in the retail payment market in Malta, and the manner in which the major stakeholders are set to respond to the potential that innovative technology within this area is unlocking. Stakeholders strive to keep abreast with developments within this ambit, in pursuit of implementing a proactive approach within their respective roles.

The objective of this study is achieved through a series of semi-structured interviews with the major stakeholders in the local retail payment market, mainly Financial Services Regulators, Supervisors and overseers as well as the Maltese Financial Services licence holders.

The evolution in the retail payment landscape witnessed in recent years exposes immeasurable challenges to Malta’s financial services sector and the economy at large. The conclusions derived from this research dovetail with the thorough literature review conducted, in exploring the manner in which such trends are envisaged to unfold within this sector. This study explores the legislative framework and regulatory regime, both current and proposed, which lay the foundations for the interplay between the respective stakeholders.

This study reveals the approach taken by the various stakeholders, as they each respond to such developments in the retail payment sphere. These are predominately driven by market forces endowed with a mix of opportunities, as each stakeholder strives to remain resilient towards future industry challenges. This research is conducive towards enhancing the much needed clarity and awareness in the local retail payment market, and promotes the use of innovative, secure and cost-efficient retail payment methods.

It is possible to see effective use of Artificial Intelligence-based systems in many fields because it easily outperforms traditional solutions or provides solutions for the problems not previously solved. Prediction applications are a widely used mechanism in research because they allow for forecasting of future states. Logical inference mechanisms in the field of Artificial Intelligence allow for faster and more accurate and powerful computation. Machine Learning, which is a sub-field of Artificial Intelligence, has been used as a tool for creating effective solutions for prediction problems.

In this chapter the authors will focus on employing Machine Learning techniques for predicting data for future states of economic using techniques which include Artificial Neural Networks, Adaptive Neuro-Fuzzy Inference System, Dynamic Boltzmann Machine, Support Vector Machine, Hidden Markov Model, Bayesian Learning on Gaussian process model, Autoregressive Integrated Moving Average, Autoregressive Model (Poggi, Muselli, Notton, Cristofari, & Louche, 2003), and K-Nearest Neighbor Algorithm. Findings revealed positive results in terms of predicting economic data.

This chapter attempts to clarify and describe the legal and regulatory framework for cryptocurrency with special focus on Malaysia and the threats that it poses from the anti-money laundering perspective. Currently, very few countries have legislations that regulate cryptocurrency. Nonetheless, the crazy surge in prices (to more than 20-folds at some point) has sent both legitimate investors and criminals flocking to cryptocurrencies. This chapter analyses and compares the official reports from various governments, writings of government officials, experts and scholars in journals and newspapers, interviews and draws conclusions on the legal framework of cryptocurrency, and money laundering challenges. The study notes that the decision of the US regulators in allowing Bitcoin futures to trade on major exchanges to be one of the reasons behind the sudden surge. The study also finds that the South Korean regulators’ approach in banning its financial institutions from dealing with virtual currency is a positive one. The chapter stresses that it is not adequate for regulators to warn the public to act with extreme caution and increase their understanding on the risks they take on if they choose to invest in cryptocurrencies. Instead, it is necessary to have comprehensive international and national laws and regulations for the control and management of cryptocurrencies. In addition, the anti-money laundering legal framework must be improved to cater to the new threats posed by cryptocurrency.

Illegal, Unreported and Unregulated (IUU) fishing is one of the most complex and serious environmental crimes affecting marine ecosystems around the globe and depriving coastal communities of vital subsistence resources. Many strategies have been developed to deal with the problem in hopes to eventually eradicate it. This chapter will review a total of 163 approaches implemented around the world, and classify these interventions according to the 25 techniques of situational crime prevention (SCP), one of the most effective crime reduction measures frequently used to deal with a variety of crime problems. This chapter will analyse what types of techniques are most and least frequently used and why; note similarities and differences among these intervention strategies; as well as examine whether there is a distinct difference between developed and developing countries in their use of particular SCP measures to combat IUU fishing. This chapter will also present examples of particularly interesting initiatives, and propose new ways forward.

Cryptocurrencies are hidden monies that are specifically created to be used as digital currencies while assuming the characteristics of real money. Barring the divergent opinions on whether permitted in Islamic law (that is/are halal) or forbidden in Islamic law (that is/are haram), and for which the swing tends to be in favor of its blockchain underlying technology permissibility in Islam, cryptocurrencies are undoubtedly indicating potential for relevance in the global trade, investment, and other contract settlements in some years to come. The potential of the blockchain technology is phenomenal with recent estimates suggesting it will be worth more than $20 trillion in just two years, which is more than the entire American economy. Since fortunes are made by those entrepreneurs and indeed savvy investors who have discerned its future potential earlier on, there exists some great temptation for people to jump on the blockchain bandwagon. Apparently the growing acceptability of digital fiat money as a result of technology development on one hand, and the failure of the paper money to mitigate inflation and other economic disequilibria since the disappearance of the gold standard on the other, various forms of cryptocurrencies including Bitcoins (referred to as the king) appear to roar toward wider recognition. However, an emerging phenomenon associated with cryptocurrency revolution is an observed significant fluctuation (the tide) in its value and thus a subject of discussion within Islamic finance community and beyond. In the midst of this also is the current agitation founded on some of the Islamic law (Sharīʿa) view on the necessity of asset-backed money, to be extended to the current cryptocurrency innovation for its transformation into a Sharīʿa compliant precious metal backed currency. The big question now which this chapter sought to provide the answer is, what are the implications of these developments to a more established and widening global phenomenon of Islamic finance and its development in Muslim world vis-á-vis aspirations for sustained economic development. The work finds that cryptocurrencies would generate three advantages over all forms of money including gold through: establishing a unified financial system through its standard decentralization, being rarer than gold and its significant mitigation of inflation. It is also noted that the prevalent foreign exchange risk resulting from the underlying activities (rather than the currency itself) is free from speculation (Gharar). It is, therefore, recommended that stakeholders in the Islamic Finance world should not be passive but be proactive in commencing processes to develop technical notes, standards, and operational guidelines to partake in the inevitable migration to cryptocurrencies.