Intelligent transaction: definition, modes, and research directions

• Main Authors: Leiju Qiu, Yang Zhao, Qian Liu, Baowen Sun, Xiaolin Wu
• Format: Article
• Language: English
• Published: Emerald Publishing 2019-03-01
• Series: International Journal of Crowd Science
• Subjects: crowd science; crowd intelligence network; intelligent transaction; transaction mode; transaction rule
• Online Access: https://www.emerald.com/insight/content/doi/10.1108/IJCS-08-2018-0017/full/pdf?title=intelligent-transaction-definition-modes-and-research-directions

Purpose - In the crowd intelligence networking era, the smart connections of human, machines and things enable point-to-point trustable transactions and distributed efficient collaboration; the smart connections among government, enterprises, organizations and the public would enable active participation of the public in society management and decision-making and improve the efficiency of government management and services. All interactions among various agents can be viewed as the transaction activity. The social division of labor system drives the evolution of transaction. The transaction mode also differentiated into different patterns with the development of human society. What will be the intelligent transaction in the crowd intelligence networking era? What will be the transactions modes and rules in the crowd intelligence networking era? The answers to these questions are of great importance to the future development of transactions. Design/methodology/approach- The authors review the evolution of traditional transaction and transaction modes and analyze the driving forces of it. They attempt to give the definitions of intelligent transaction and intelligent transaction mode. They also review the traditional transaction modes and rules, analyze the characteristics of the intelligent transaction and classify the intelligent transaction modes. Findings- The authors find the intelligent transaction is mainly reflected in the intellectualization of transaction subject, transaction object and transaction process. They summarize the characteristics of intelligent transaction and develop four modes for the intelligent transactions based on the modularization level of the transaction objects and the quantity of transaction subjects, including the demand side and the supply side. The authors also show representative examples to further illustrate rules and features of these transaction modes and point out the potential research directions. Originality/value- This study is among the first to analyze the characteristics of the intelligent transaction, and the proposed division framework of the intelligent transaction modes could not only add value to the future research of intelligent transaction modes and rules but also help to guide the transactions in the crowd intelligence network.