Information-transfer transaction

Last updated April 09, 2019

A transaction is a change of state, an information-transfer transaction is a transaction in which one of the following changes occurs: content, ownership, location, format, etc. An information-transfer transaction usually consists of three consecutive phases called the access phase, the information transfer phase, and the disengagement phase. Examples of these consecutive phases are the copying and transporting of information. Once a transaction occurs there are also costs to consider, which are associated with that certain transaction. When it comes to the transfer of information some transaction costs include time and means (money).

In telecommunications, information transfer is the process of moving messages containing user information from a source to a sink via a communication channel. In this sense, information transfer is equivalent to data transmission which highlights more practical, technical aspects.

In economics and related disciplines, a transaction cost is a cost in making any economic trade when participating in a market.

History of Information-transfer transactions

There are many social systems and devices that have contributed to information-transfer transactions; starting from people writing letters using postal systems to emailing using information technology. Two main examples of information-transfer transactions technology development is the copying and transportation of information.

Information technology (IT) is the use of computers to store, retrieve, transmit, and manipulate data, or information, often in the context of a business or other enterprise. IT is considered to be a subset of information and communications technology (ICT). An information technology system is generally an information system, a communications system or, more specifically speaking, a computer system – including all hardware, software and peripheral equipment – operated by a limited group of users.

History of Copying

Copying is the process of duplicating information with the change of location or format of the original information. The transfer transaction of information through copying has been going on for ages and there has been many advances in technology to decrease the time it takes to make copies of said information. The art of copying started with people having to write a copy out by hand, then the printing press, all the way to digital copying with ICTs. These developments lead to quicker information-transfer transactions in the form of distributing copies of original information to others through a changes of location or format.

A printing press is a mechanical device for applying pressure to an inked surface resting upon a print medium, thereby transferring the ink. It marked a dramatic improvement on earlier printing methods in which the cloth, paper or other medium was brushed or rubbed repeatedly to achieve the transfer of ink, and accelerated the process. Typically used for texts, the invention and global spread of the printing press was one of the most influential events in the second millennium.

History of Transporting

Transporting is the movement of information with the change of location or ownership of the original information. The transfer transaction of information through transporting has been going on for ages and there has been social and technological developments to decrease the time it takes for information to change ownership or location. The transportation of information started with people sending letters by foot, then by horse, the public and international postal service, all the way down to technology networks. It is these developments which led to the ability to send information further and quicker through information-transfer transactions.

Transaction Costs

Every time a transaction occurs, there are always costs to be considered. In the case of information-transfer transactions, one most consider the costs of time and means (money). Both of these costs are corollated with one another in that to decrease one, you must increase the other. For example, say Person #1 sends a letter through the mail, while Person #2 sends letters through email. For Person #1 to send their letter they had to buy paper, means of writing, envelopes, stamps, etc., while Person #2 needed to buy a source of electricity, internet, computer technology, etc. to send an email. It seems like Person #1 has lower transaction costs then Person #2 in terms of means; however, when you look at both information-transfer transactions in terms of time that is a different story. For Person #1 although they had little costs in sending their letter, the time it takes for the transfer of that letter is about 3+ days, while Person #2's transfer through email happens in less than minutes, but they endured high mean costs. Therefore, for information-transfer transaction times to decrease, the costs of means have to increase and vice versa.

The mail or post is a system for physically transporting postcards, letters, and parcels. A postal service can be private or public, though many governments place restrictions on private systems. Since the mid-19th century, national postal systems have generally been established as government monopolies, with a fee on the article prepaid. Proof of payment is often in the form of adhesive postage stamps, but postage meters are also used for bulk mailing. Modern private postal systems are typically distinguished from national postal agencies by the names "courier" or "delivery service".

Electronic mail is a method of exchanging messages ("mail") between people using electronic devices. Invented by Ray Tomlinson, email first entered limited use in the 1960s and by the mid-1970s had taken the form now recognized as email. Email operates across computer networks, which today is primarily the Internet. Some early email systems required the author and the recipient to both be online at the same time, in common with instant messaging. Today's email systems are based on a store-and-forward model. Email servers accept, forward, deliver, and store messages. Neither the users nor their computers are required to be online simultaneously; they need to connect only briefly, typically to a mail server or a webmail interface for as long as it takes to send or receive messages.

Telecommunication

In telecommunication, an information-transfer transaction is a coordinated sequence of user and telecommunications system actions that cause information present at a source user to become present at a destination user.

Telecommunication is the transmission of signs, signals, messages, words, writings, images and sounds or information of any nature by wire, radio, optical or other electromagnetic systems. Telecommunication occurs when the exchange of information between communication participants includes the use of technology. It is transmitted either electrically over physical media, such as cables, or via electromagnetic radiation. Such transmission paths are often divided into communication channels which afford the advantages of multiplexing. Since the Latin term communicatio is considered the social process of information exchange, the term telecommunications is often used in its plural form because it involves many different technologies.

In mathematics, a sequence is an enumerated collection of objects in which repetitions are allowed. Like a set, it contains members. The number of elements is called the length of the sequence. Unlike a set, the same elements can appear multiple times at different positions in a sequence, and order matters. Formally, a sequence can be defined as a function whose domain is either the set of the natural numbers or the set of the first n natural numbers. The position of an element in a sequence is its rank or index; it is the natural number from which the element is the image. It depends on the context or a specific convention, if the first element has index 0 or 1. When a symbol has been chosen for denoting a sequence, the nth element of the sequence is denoted by this symbol with n as subscript; for example, the nth element of the Fibonacci sequence is generally denoted F_n.

In telecommunications, a user is a person, organization, or other entity that employs the services provided by a telecommunication system, or by an information processing system, for transfer of information. A user functions as a source or final destination of user information, or both. A user may also be the subscriber, i.e. the customer paying for the service.

Related Research Articles

Electronic data interchange (EDI) is the concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders and invoices. Technical standards for EDI exist to facilitate parties transacting such instruments without having to make special arrangements.

The Session Initiation Protocol (SIP) is a signaling protocol used for initiating, maintaining, and terminating real-time sessions that include voice, video and messaging applications. SIP is used for signaling and controlling multimedia communication sessions in applications of Internet telephony for voice and video calls, in private IP telephone systems, in instant messaging over Internet Protocol (IP) networks as well as mobile phone calling over LTE (VoLTE).

Email client computer software that allows sending and receiving emails

An email client, email reader or more formally mail user agent (MUA) is a computer program used to access and manage a user's email.

In computer science, ACID is a set of properties of database transactions intended to guarantee validity even in the event of errors, power failures, etc. In the context of databases, a sequence of database operations that satisfies the ACID properties is called a transaction. For example, a transfer of funds from one bank account to another, even involving multiple changes such as debiting one account and crediting another, is a single transaction.

Online banking, also known as internet banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. The online banking system will typically connect to or be part of the core banking system operated by a bank and is in contrast to branch banking which was the traditional way customers accessed banking services.

Purchasing refers to a business or organization attempting to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations. Typically the word “purchasing” is not used interchangeably with the word “procurement”, since procurement typically includes expediting, supplier quality, and transportation and logistics (T&L) in addition to purchasing.

Btrieve is a database developed by Pervasive Software. The architecture of Btrieve has been designed with record management in mind. This means that Btrieve only deals with the underlying record creation, data retrieval, record updating and data deletion primitives. Together with the MicroKernel Database Engine it uses ISAM, Indexed Sequential Access Method, as its underlying storage mechanism.

A cadastre is a comprehensive land recording of the real estate or real property's metes-and-bounds of a country.

Collaborative product development (CPD) is a business strategy, work process and collection of software applications that facilitates different organizations to work together on the development of a product. It is also known as collaborative product definition management (cPDM).

Internet fax, e-fax, or online fax is the use of the internet and internet protocols to send a fax (facsimile), rather than using a standard telephone connection and a fax machine. A distinguishing feature of Internet fax, compared to other Internet communications such as email, is the ability to exchange fax messages with traditional telephone-based fax machines.

Google Pay Send, previously known as Google Wallet, was a separate peer-to-peer payments service developed by Google before its merger into Google Pay. It allowed people to send and receive money from a mobile device or desktop computer at no cost to either sender or receiver.

Drug Master File or DMF is a document prepared by a pharmaceutical manufacturer and submitted solely at its discretion to the appropriate regulatory authority in the intended drug market. There is no regulatory requirement to file a DMF. However, the document provides the regulatory authority with confidential, detailed information about facilities, processes, or articles used in the manufacturing, processing, packaging, and storing of one or more human drugs. Typically, a drug master file is filed when two or more firms work in partnership on developing or manufacturing a drug product. The DMF filing allows a firm to protect its intellectual property from its partner while complying with regulatory requirements for disclosure of processing details.

The Automated Payment Transaction (APT) tax is a small, uniform tax on all economic transactions — involve simplification, base broadening, reductions in marginal tax rates, the elimination of tax and information returns and the automatic collection of tax revenues at the payment source. This proposal is to replace all United States taxes with a single tax on every transaction in the economy. The APT approach would extend the tax base from income, consumption and wealth to all transactions. Proponents regard it as a revenue neutral transactions tax, whose tax base is primarily made up of financial transactions. It is based on the fundamental view of taxation as a "public brokerage fee accessed by the government to pay for the provision of the monetary, legal and political institutions that protect private property rights and facilitate market trade and commerce." The APT tax extends the tax reform ideas of John Maynard Keynes, James Tobin and Lawrence Summers, to their logical conclusion, namely to tax the broadest possible tax base at the lowest possible tax rate. The goal is to significantly improve economic efficiency, enhance stability in financial markets, and reduce to a minimum the costs of tax administration.

A bounce address is an email address to which bounce messages are delivered. There are many variants of the name, none of them used universally, including return path, reverse path, envelope from, envelope sender, MAIL FROM, 5321-FROM, return address, From_, Errors-to, etc. It is not uncommon for a single document to use several of these names.

The Laws of information systems are a collection of observations, assertions and generalizations characterizing the behavior of people, hardware, software, and procedures enclosed in a certain scope. An information systems is an amalgam of scientific and humanistic disciplines including computer science, management science and social sciences. It is therefore characterized by laws as well as a number of principles. These span the range of transaction processing, effective systems, user interfaces and system development. These "Laws" should not be confused with Scientific or Physical Laws.

An expense and cost recovery system (ECRS) is a specialized subset of "extract, transform, load" (ETL) functioning as a powerful and flexible set of applications, including programs, scripts and databases designed to improve the cash flow of businesses and organizations by automating the movement of data between cost recovery systems, electronic billing from vendors, and accounting systems.

Venmo is a mobile payment service owned by PayPal. Venmo account holders can transfer funds to others via a mobile phone app; both the sender and receiver have to live in the U.S. Venmo is a type of payment rail. It handled $12 billion in transactions in the first quarter of 2018.

Peer-to-peer transactions are electronic money transfers made from one person to another through an intermediary, typically referred to as a P2P payment application. P2P payments can be sent and received via mobile device or any home computer with access to the Internet, offering a convenient alternative to traditional payment methods.

A blockchain is a public, shared database that records transactions between two parties. Specifically, blockchains document and confirm who owns what at a particular time through cryptography. After a particular transaction is validated and cryptographically verified by other participants, or nodes in the network, it is then made into a "block" on the blockchain. A block contains information about when the transaction occurred, previous transactions, and details about the transaction. Once recorded as a block, transactions are ordered chronologically and cannot be altered or changed. This technology rose to popularity after the creation of Bitcoin—the first application built on using blockchain technology—and has furthermore catalyzed other cryptocurrencies and applications. Due to its nature of decentralization, transactions and data are not verified and owned by one singular, overpowering entity as they are in typical systems. Rather, the validity of transactions are able to be confirmed by any node, or computer, that has access to the network. Additionally, blockchain technology secures and authenticates transactions and data through cryptography. With the rise and widespread adoption of technology, data breaches have become rampant and frequent. User information and data are often stored, mishandled, and misused, causing a threat to personal privacy. Currently, many are pushing for the widespread adoption of blockchain technology for its ability to increase user privacy, data protection, and data ownership.

References

This article incorporates public domain material from the General Services Administration document "Federal Standard 1037C" .

General Services Administration United States government agency

The General Services Administration (GSA), an independent agency of the United States government, was established in 1949 to help manage and support the basic functioning of federal agencies. GSA supplies products and communications for U.S. government offices, provides transportation and office space to federal employees, and develops government-wide cost-minimizing policies and other management tasks.

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.