Thursday, 21 June 2018

POST Open and unbundled

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By allowing customers to connect to a range of banks and service providers through a single point, Open Banking could open to the door to the ‘unbundling’ of banking

From speech by Alex Brazier, Bank of England, at Imperial College Business School (18th April 2018).

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Wednesday, 20 June 2018

It’s Time for an American Internet Privacy Framework — The Information

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Trust in American internet companies is at a low point, and the most complete answer to why they are choosing to comply with GDPR is that there is no competing U.S. framework for companies to stand behind.

This wouldn’t necessarily be a bad thing if the GDPR framework were a good set of laws; however, I worry that many of the ideas that underpin the framework are extremely dangerous to the long-term health and security of democracy, and against American ideals.

From It’s Time for an American Internet Privacy Framework — The Information.

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Tuesday, 19 June 2018

Is Bitcoin Legal Tender In Japan? - Winklevoss Bitcoin Trust ETF (Pending:COIN) | Seeking Alpha

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The Virtual Currency Act defines Bitcoin and other virtual currency as a form of payment method, not a legally-recognized currency or legal tender.

From Is Bitcoin Legal Tender In Japan? - Winklevoss Bitcoin Trust ETF (Pending:COIN) | Seeking Alpha.

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Japan Banking Giant Mitsubishi Bank to Launch Cryptocurrency in 2019 | FintekNews

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Basically Mitsubishi, after participating in various thought groups with other banks on crypto-solutions, decided to ‘just do it’ and create their own digital currency. Remember, in Japan bitcoin core (BTC) is ruled legal tender and is already used to buy everything from airline tickets to sushi.

From Japan Banking Giant Mitsubishi Bank to Launch Cryptocurrency in 2019 | FintekNews.

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Cash is no longer king as pensioners buy into contactless revolution

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The number of over-65s embracing tap-and-go technology has soared, boosting card transactions to become Britain’s primary payment choice

From Cash is no longer king as pensioners buy into contactless revolution.

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Deutsche Bank pilots game-changing payments solution with IATA – Newsroom

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Deutsche Bank has today announced a pilot project with the International Air Transport Association (IATA), the trade association for the world’s airlines, to test a disruptive new payment model. Through the pilot, Deutsche Bank will look to reduce costs for processing payments between airline clients and airlines. Deutsche Bank will collect customer payments directly from consumer accounts in line with the newly revised EU Payments Services Directive, PSD2. Currently, payments are mainly processed via credit and debit transactions.

From Deutsche Bank pilots game-changing payments solution with IATA – Newsroom.

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Saturday, 16 June 2018

The odd reality of life under China's all-seeing credit score system | WIRED UK

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"Social credit is preventing people from buying airline and train tickets, stopping social gatherings from happening, and blocking people from going on certain dating websites. Meanwhile, those viewed kindly are rewarded with discounted energy bills and similar perks."

From "The odd reality of life under China's all-seeing credit score system | WIRED UK".

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