I guess that Facebook caused many central banks to realise that if they didn’t issue digital currencies then others would. Hence, why most central banks are issuing them. But it’s not an either-or scenario. “We will see in the not-too-distant future a sovereign digital currency coming out.” Michael Corbat, CEO …
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Is Facebook’s Libra the next Paypal?
What if we make money truly global, stable and secure? That’s Libra’s ambition and I’ve got to hand it to the guys at Libra. Having announced their idea to create a global currency last summer, and then see it ripped to pieces by regulators, they’re back. Yes, it’s Libra 2.0. What’s …
Read More »The regulator’s view of Facebook’s Libra currency
A lot of discussion at the United Nations, where I’ve been all week (blogging about that next week), has raised the question of Libra, the Facebook digital currency. I’m avoiding calling it a cryptocurrency, as it’s more a stablecoin that is focused upon transactions, which is why it has Visa, …
Read More »How Facebook failed at finance
I haven’t written much about Facebook’s digital currency Diem, as there’s not much to write about. A dead duck from day one, it would never succeed. I said so back when it launched in 2019: The bottom-line is that Facebook may have developed a stablecoin using blockchain to enable global …
Read More »Google, Facebook, Amazon and Co are NOT offering banking, so stop saying they are
In the last month, there’s been a wave of announcements from Facebook, Apple, Google and Amazon about banking. We’ve seen Facebook’s major activities in trying to create a digital currency called Libra, and Apple’s move into finance with a credit card from Goldman Sachs which, in just a month, offered …
Read More »Facebook has forced the world’s banks to innovate
It’s been interesting to watch the development of Facebook’s Libra project. As I expected, regulators hate it and are asking lots of questions about it. Most seem to want to ban it. And now PayPal has dropped out of the original founding team, with Visa and MasterCard rumoured to follow. …
Read More »So, Facebook launched a currency …
I’ve blogged a few times about Facebook planning to launch a currency … Will Facebook become the world’s central bank? If Facebook launch a cryptocurrency, will US government shut it down? … and the fact that most regulators won’t like it. In fact, there are already questions being asked in …
Read More »If Facebook launch a cryptocurrency, will US government shut it down?
I’m writing more and more about Facebook launching its own cryptocurrency lately: Will Facebook become the world’s central bank? (March 2019) Will a global platform connect all of our money? (April 2019) This is because they are getting serious about payments and blockchain, after a variety of reports that they …
Read More »The Finanser’s Week: 7th October – 13th October 2019
The main blog headlines are … What does “innovation” mean in finance? I recently was invited to be the keynote at some innovation awards in Ireland. It got me thinking about what innovation means in finance, so here are the notes from my speech. I trust it’s useful … …
Read More »The key to IoT is identity
The term The Internet of Things (IoT) was first used twenty years ago. Twenty years later, IoT is emerging rapidly. We have our cars and homes networked but, more than this, we have gadgets like Google Home, Siri and Alexa. Amazon has taken this even further with services like Key …
Read More »Do you want to be known as the banker who said ‘no’ to Walt Disney?
Everyone is talking a lot about the metaverse these days. What is the metaverse? It’s a progression of how we live. My father used to read books as a kid, and the books would entertain him and come life in his head. I grew up with comics and the illustrations …
Read More »Things worth reading: 3rd December 2021
Things we’re reading today include … David Marcus, the lead on Diem (Libra) for Meta (Facebook), leaves Fintech founder predicts the biggest 4 banks will be worth ‘less than $100 billion’ in 5 years ‘It’s going to be very obvious that every bank needs to become a crypto bank,’ says …
Read More »What will happen to bitcoin and crypto this year?
Andreesson Horowitz’s Chris Dixon shared a presentation about crypto and blockchain during the holiday break. Interesting, but is it good? Not sure, but I’m not going to make big predictions about tokenisation, regulation and the price of bitcoin in January 2022. Instead, I asked Janis Legler to do this. …
Read More »The Finanser’s Week: 7th December 2020 – 13th December 2020
The main blog discussions this week include … The Omniaccess Future (Free Research Report) The new word of focus, as proven by research, is omniaccess. Forget omnichannel. We just performed a short survey about the views of banks and FinTechs regarding the pandemic, sponsored by Oracle. The results are out today …
Read More »The Finanser’s Week: 27th April 2020 – 3rd May 2020
The main blog headlines are … What will the world be like when #coronavirus ends? (Part One) Most of the people around the world have savings that can last them less than a month. In the USA, 29% of households have less than $1,000 in savings; in the UK, 15% …
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