Intelligent Peer-To-Peer Banking Framework: Advancing The Frontiers of Agent Banking For Financial Inclusion In Nigeria Via Smartphones

  • Arnold Adimabua Ojugo Department of Computer Science, Federal University of Petroleum Resources, Effurun 32001, Delta State, Nigeria (NG)
  • Oghenevwede Debby Otakore Department of Computer Science, Federal University of Petroleum Resources, Effurun 32001, Delta State, Nigeria (NG)
Keywords: Block-Chain, agent banking, cryptocurrency, android platform, smartphones

Viewed = 110 time(s)

Abstract

The advent of the retail point of sale (POS) system as a critical component of the traditional retail infrastructure seeks to advance client payment-ease for goods and services rendered by vendors as well as the effective collection of funds by the vendor. It also aids the vendor to collect in advance monies that the client may wish to spend later on goods and services. Thus, the POS has since become a necessity in modern retail stores as its increased usage has seen a transformation from a single machine to a cloud and smart platforms. Our study seeks to model a conceptual framework for decentralized POS as adapted to smartphones. This will enhance cashless transaction irrespective of a customer’s location globally and locally. Built around the block-chain technology, it seeks to minimize challenge(s) of time, installation requirements incurred with the adoption of automatic teller machine (ATM), location and citing of agent-banking in a rural area with low tele- and tech-penetration.



References

Agam, S., (2011). Google's Android 4.0 ported to x86 processors, retrieved online via: http://www.computerworld.com/s/article/9222323/Google_s_Android_4.0_ported_to_x86_processors

Bahga, A., Madisetti, V.J., (2016). Blockchain Platform for Industrial Internet of Things, Journal of Software Engineering and Applications, Vol, 9: pp533-546

Barcelo, J., (2014). User privacy in the public bitcoin blockchain,” 2014.

Bhupinder, S.M and Vijay, K.M (2010). Reliable Real-Time Applications on Android OS, retrieved online via: www.users.ece.gatech.edu/~vkm/Android_Real_Time.pdf

Bonneau, J., A. Narayanan, A. Miller, J. Clark, J. A. Kroll, and E. W Felten, “Mixcoin: Anonymity for bitcoin with accountable mixes, Proc. Int. Conf. on Financial Cryptography and Data Security, Berlin, Heidelberg, 2014, pp. 486–504.

Bray, T., (2010). Ongoing by Tim Bray-What Android Is, www.tbray.org/ongoing/When/201x/2010/11/14/What-Android-Is.

Divya, V.L., (2012). Mobile application with cloud computing, Int. J. of Scientific Research Publications, 2(4), p1-6.

Dye, M., McDonald, R., and Rufi, A. (2008) Network Fundamentals: CCNA Exploration Companion Guide. 1st edn. ed. by Ray, M. Indianapolis, Indiana, USA: Cisco Press

Eung-Ha, K., Cho, K.S and Ryu, W., “Amendment to MSF whitepaper on personalized converged services: network-to-network”, [online]: www.msforum.org/techninfo/reports.shtml, last accessed March 2013

Hamrén, O., (2012). Mobile phones and cloud computing: A research on mobile phone offloading by cloud computing utilization, Master’s Thesis, Dept of Informatics, Human Comp. Interaction SPM 2012.07, UMEA University.

Kurose, J. and Ross, K. (2013) Computer Networking: A Top-Down Approach. 6th edn. ed. by Hirsch, M. and Snider, E. Boston: Pearson Education Limited

Lanxiaopu, M. (2012) An Investigation and Comparison on Network Performance Analysis [online] UNIVERSITY OF OSLO. available from https://www.duo.uio.no/bitstream/handle/10852/9087/MxMT.pdf?sequence=1

Maia, C., Nogueira, L., Pinho, L.M., (2010). Evaluating Android OS for Embedded Real-Time Systems, Proc. of 6th International Workshop on Operating Systems Platforms for Embedded Real-Time Applications, Brussels, Belgium.

Morris, D.Z., (2016). Leaderless, Blockchain-Based Venture Capital Fund Raises $100 Million, And Counting, Fortune. Archived from the original on 21 May 2016. Retrieved 23 May 2016.

Nakamoto, S., (2008). Bitcoin: A peer-to-peer electronic cash system, [web]. http://bitcoin.org/bitcoin.pdf

Narayanan, A., Bonneau, J., Felten, E., Miller, A., Goldfeder, S., (2015): Bitcoin and cryptocurrency technologies. Draft submitted to the University of Princeton, available [web]: bitcoinbook”list.cs.princeton.edu

Odiete, O.O., (2018): Using blockchain to support data and service monetization. Thesis submitted to College of Graduate and PostGraduate Studies, Department of Computer Science, University of Saskatchewan, Saskatoon

Ojugo, A.A., A.O. Eboka., (2018). Assessing user satisfaction and experience on academic websites: a case of selected Nigerian Universities websites, Int. J. Tech & Comp. Sci., 10(7): pp53-61, doi: 10.5815/ijitcs.2018.10.07

Ojugo, A.A., A.O. Eboka., (2019). Extending campus network via intranet & IP telephony for performance and service delivery: meeting organizational goals, J. Applied Sci. Eng. Tech. & Edu., 1(2): pp1–10, doi: 10.35877/454RI.asci12100

Ojugo, A.A., A.O. Eboka., (2019a). Inventory prediction and management in Nigeria using market basket analysis associative rule mining: memetic algorithm approach, Int. J. Info. & Comm. Tech., 8(3): pp128-138, doi: 10.11591/ijict.v8i3

Ojugo, A.A., A.O. Eboka., (2019b). Signature-based malware detection using approximate Boyer Moore string matching algorithm, Int. J. of Mathematical Sciences and Computing, 3(5): pp49-62, doi: 10.5815/ijmsc.2019.03.05

Ojugo, A.A., A.O. Eboka., (2020). Mitigating technical challenges via redesigning a campus network for greater efficiency, scalability and robustness: a logical view, Int. J. of Modern Edu. and Computer Science, 11(1): pp126-132

Ojugo, A.A., A.O. Eboka., (2020b). Memetic algorithm for short messaging service spam filter text normalization and semantic approach, Int. J. of Information and Communication Technology, 9(1): pp13 – 27, doi: 10.11591/ijict.v9i1

Ojugo, A.A., Abere, R., Orhionkpaiyo, B., Yoro, R., Eboka, A., (2013b). Technical issues for IP-based telephony in Nigeria, Int. J. Wireless Comm. & Mobile Comp., 1(2): 58-67

Ojugo, A.A., D.O. Otakore., (2018b). Redesigning academic website for better visibility and footprint: case of Federal University of Petroleum Resources Effurun website, Network & Communication Technologies, 3(1): pp33–44,

Ojugo, A.A., D.O. Otakore., (2020a). Computational solution of networks versus cluster groupings for social network contacts: a recommender system, Int. J. Info. & Comm. Tech., 9(3): pp13 – 27, doi: 10.11591/ijict.v9i3

Ojugo, A.A., Eboka, A.O., (2014). Social engineering detection model for mobile smartphone clients, African J. of Computing & ICT, 7(3): pp91–100.

Ojugo, A.A., Ekemini, P.D., (2019). Implementation of a decentralized point-of-sale equipment model for the android platform: a case of mobile smartphones in Nigeria, Unpublished Bachelor of Science Thesis, Department of Mathematics and Computer Science, Federal University of Petroleum Resources Effurun, Nigeria.

Ojugo, A.A., F. Aghware., R. Yoro., M. Yerokun., A. Eboka., C. Anujeonye., F. Efozia., (2015). Dependable community-cloud framework for smartphones, American J. of Net. Communications, 4(4): pp95-103

Ojugo, A.A., O.D. Otakore., (2018a). Mitigating social engineering menace in Nigerian Universities, J. of Comp. Sci. & Application, 6(2): pp64–68, doi: 10.12691/jcsa-6-2-2, [web]: www.sciepub.com/jcsa/content/6/2

Ojugo, A.A., R.E. Yoro., (2020). Extending three-tier learning model for alternative delivery via constructivism: ahead the pandemic in Nigeria. Indonesian Journal of Elect Engineering and Computer Sciences, 21(1)

Ojugo, A.A., R.E. Yoro., A. Eboka., M. Yerokun and I. Iyawa., (2012). Implementation issues of VoIP to enhance rural telephony in Nigeria, Journal of Emerging Trends in Computing & Information Systems, 4(2): pp113-120

Ojugo, A.A., R.E. Yoro., D. Oyemade., A. Eboka., E. Ugboh., F. Aghware., (2013). Robust cellular network rural telephony in Southern Nigeria, American J. of Network Communications, 2(5): 125-132

Ojugo, A.A., Yoro, R.E., Oyemade, D.A., Eboka, A.O., Ugboh, E., Aghware, F., (2013a). Robust cellular network rural telephony in Southern Nigeria, American J. of Net. Comm. 2(5): 125-132

Okonta, O.E, U. Wemembu., Ojugo, A.A., D. Ajana., (2014). Deploying Java platform to design a framework of protective shield for anti-reversing engineering, West African J. of Industrial and Academic Research, 10(1): pp50-65

Osterland, T and Rose, T., (2018): Engineering Sustainable Blockchain Applications. In: W. Prinz & P. Hoschka (Eds.), Proc. of the 1st ERCIM Blockchain Workshop 2018, Reports of the European Society for Socially Embedded Technologies (ISSN 2510-2591), DOI: 10.18420/blockchain2018_05

Oyemade, D.O., J. Akpojaro., Ojugo, A.A., R. Ureigho., F. Imouokhome., E. Omoregbee., (2016). Three tier learning model for universities in Nigeria, Journal of Technologies in Society, 12(2): pp9-20, [web]: https://jts.cgpublisher.com

Pernel, L, Fayyad-Kazan, H and Timmerman, M., (2013). Android and real time application: take care, J. Emerging Trends in Computing and Info. Systems, 4, Special Issue ICCSII, ISSN 2079-8407.

Peters, G.W., E. Panayi, A. Chapelle., (2015). Trends in crypto-currencies and blockchain technologies: A monetary theory and regulation perspective, [web]. http://dx.doi.org/10.2139/ssrn.2646618563

Popper, N., (2016). A Venture Fund With Plenty of Virtual Capital, but No Capitalist, The New York Times. Archived from the original on 22 May 2016. Retrieved 23 May 2016.

Sharma, P.K., Chen, M.-Y., Park, J.H.: A software defined fog node based distributed blockchain cloud architecture for IoT. IEEE Access 6, 115–124 (2018)

Sun, X. and Xie, G.G. (2013) “Minimizing Network Complexity through Integrated Top-down Design”. Proc. of 9th ACM Conf. on Emerging Net experiments and technologies, 259–270, [web]: dl.acm.org/citation.cfm?doid=2535372.2535376

Tanenbaum, A. and Wetherall, D. (2010) Computer Networks. 5th edn. USA: Prentice Hall

Wemembu, U.R, E. Okonta., Ojugo, A.A., L. Imah., (2014). A framework for effective software monitoring in project management, West African Journal of Industrial and Academic Research, 10(1): pp100-112

White, C. (2011) Data Communications and Computer Networks: A Business User’s Approach. Boston, USA: Course Technology Publications

Yoro, R.E., Ojugo, A.A., (2019). An intelligent client-trusted and dependable security framework to ease smartphone portability on community cloud computing, J. of Network and Communication, 4(3): pp79-90

Zhang, X., Kunjithapatham, A., Jeong, S., Gibbs, S., (2011). Towards an elastic application model for augmenting the computing capabilities of mobile devices with cloud computing, Mobile Networks & Applications, 16(3), p270–284.

Published
2020-08-22
Section
Articles
How to Cite
Ojugo, A. A., & Otakore, O. D. (2020). Intelligent Peer-To-Peer Banking Framework: Advancing The Frontiers of Agent Banking For Financial Inclusion In Nigeria Via Smartphones . Quantitative Economics and Management Studies, 1(5), 300-311. https://doi.org/10.35877/454RI.qems140