Digital coin business model using the coin ATM

Won Gyo Jung, Sang Sung Park, Young Geun Shin, Dong Sik Jang

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Because about 83.6 billion won worth coins are not collected annually, 35 billion won of government money is being wasted for producing new coins in Korea. In order to improve unnecessary government money leakage, we now have to develop a proper way of managing small valued money such as coins. We have already developed the coin ATM to solve such problem in the previous study. In this study, we proposed business model, which enables users to deposit or consume such small amount of money with the coin ATM. The proposed business model has advantages that enable to connect various payment system and is efficient to consume such small amount of money. This business model improves not only the way of managing small valued money but also the way of consuming small valued money. Furthermore, our business model can contribute to activating circulation of coins as well as preventing leakage of government money.

Original languageEnglish
Title of host publicationComputational Methods in Science and Engineering - Advances in Computational Science, Lectures Presented at the Int. Conference on Computational Methods in Science and Engineering 2008, ICCMSE 2008
Pages146-148
Number of pages3
DOIs
Publication statusPublished - 2009 Dec 1
Event6th International Conference on Computational Methods in Sciences and Engineering 2008, ICCMSE 2008 - Hersonissos, Crete, Greece
Duration: 2008 Sep 252008 Sep 30

Publication series

NameAIP Conference Proceedings
Volume1148 2
ISSN (Print)0094-243X
ISSN (Electronic)1551-7616

Other

Other6th International Conference on Computational Methods in Sciences and Engineering 2008, ICCMSE 2008
CountryGreece
CityHersonissos, Crete
Period08/9/2508/9/30

Keywords

  • Business model
  • Coin ATM
  • Cyber Money
  • Digital Coin
  • On-line Virtual Account System

ASJC Scopus subject areas

  • Physics and Astronomy(all)

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  • Cite this

    Jung, W. G., Park, S. S., Shin, Y. G., & Jang, D. S. (2009). Digital coin business model using the coin ATM. In Computational Methods in Science and Engineering - Advances in Computational Science, Lectures Presented at the Int. Conference on Computational Methods in Science and Engineering 2008, ICCMSE 2008 (pp. 146-148). (AIP Conference Proceedings; Vol. 1148 2). https://doi.org/10.1063/1.3225257