Category Archives: Uncategorized

xxx The reason why German banks are dropping support for SMS OTP is because of legislation that the EU passed in 2015, set to enter into effect on September 14, this year. From German banks are moving away from SMS one-time passcodes | ZDNet. xxx

xxx “Staff will develop a procedure for issuing and using market SDRs following currency board rules and backed 100% by official SDRs or by an appropriate mix of sovereign debt of the five basket currencies.” From “Proposal for an IMF Staff Executive Board Paper on Promoting Market SDRs | The Bretton Woods Committee”. xxx

xxx “As the papers describe it, the Reserve portfolio sounds like a government-bond money-market mutual fund. It is to hold only short-term government bonds and cash equivalents. The bonds are all to be low in default risk, highly liquid, and low in duration risk.” From “Libra’s Unresolved Puzzles – Alt-M”. xxx

Science and Technology Select Committee report on “Digital Government” 10th July   xxx “Rt Hon Norman Lamb MP, Chair of the Science and Technology Committee, said: ‘The potential that digital Government can bring is huge: transforming the relationship between the citizen and the State, saving money and making public services more efficient and agile. However,Continue reading “Government’s digital approach has lost momentum – News from Parliament – UK Parliament”

xxx Facebook itself does not have access to any payment credentials information, though it does collect other information affiliated with a transaction, such as the merchant, the transaction amount, the date and time and the purchased good. From Facebook to Senators: Libra Crypto Will Respect Consumer Privacy – CoinDesk. xxx

A couple of years ago, John Cryan (then CEO of Deutsche Bank) said that that the bank was going to shift from employing people to act like robots to employing robots to act like people. Now they have announced  Deutsche Bank has announced swingeing job cuts as part of a radical overhaul of its operationsContinue reading “Deutsche Bank to spend €13bn on tech amid massive job cuts”

xxx Wang Xin, director of the People’s Bank of China research bureau, warns the new digital currency could have major impact on monetary policy and financial stability From Facebook’s Libra forcing China to step up plans for its own cryptocurrency, says central bank official | South China Morning Post. xxx

xxx Facebook said that they assumed the FTC (Federal Trade Commission) or the CFPB (Consumer Financial Protection Bureau) would regulate Libra. From Inside the Congressional Staff Meeting About Libra. xxx

xxx In the absence of any detail on what might comprise a decentralized identity standard from Libra’s perspective, some dots can be joined by examining the recent work of George Danezis and his co-founders at Chainspace, a startup acquired by Facebook in May. A paper introducing a “selective disclosure credential scheme” called Coconut explains how aContinue reading “Buried in Facebook’s Libra White Paper, a Digital Identity Bombshell – CoinDesk”

xxx “‘In a lot of ways, Facebook is more like a government than a traditional company,’ said Mr. Zuckerberg.” From “Opinion | Launching a Global Currency Is a Bold, Bad Move for Facebook – The New York Times”. xxx