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. What’s also been interesting is…
Being conference season, there were many announcements in the past week about headlines companies wanted to gain with their innovations. One of the main headline grabbers for me came from R3. These included: Mastercard partners R3 … R3 and Infosys complete blockchain trade finance trial Wells Fargo’s Stablecoin ‘Faster, Cheaper’ Than SWIFT … Bank of America Joins…
Almost every day, there is an announcement of a new payments innovation. From the success of the likes of Klarna, Stripe and Square in retail payments to the growth of new payment mechanisms like Ripple and JPMorgan’s internal settlement engine, the JPM Coin and the launch of digital currencies from bitcoin to Libra from Facebook,…
After yesterday’s article about how backward America is, in terms of payments, there’s a useful article talking about how they’re trying to rectify this. Bearing in mind that the big American banks are all spending $10 billion plus each on technology, they should be updating, and CB Insights latest installment looks at where the top American…
I often say that blockchain is one of the most complex areas, combining all we don’t know about technology with all we don’t understand about finance. It’s a big hole of acronyms, confusion and debate. Some things that claim to be blockchain don’t use blockchains, and some blockchains claim not to be blockchains but blockchain…
Who wants transparency when you can have magic? Do you watch The Crown? If not, maybe you should as Series 3 is about to begin with Olivia Coleman, a great actress. The first two series weren’t bad either, with Netflix spending $130 million on the season (around $10 million per episode some estimates) making it…
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, MasterCard, PayPal and Stripe as…
I often talk about the world changing thanks to young people who can code. My examples include John and Patrick Collison, Stripe, who were 19 and 21 when they started their business; Andrew Kortina and Iqram Magdon-Ismail, who were in their mid-20’s when they created Venmo; Nicolay Storonsky, who was working for Lehman Brothers in…
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 US Gov about their plans,…
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 will launch their own stablecoin,…
