Category Archives: Uncategorized

xxx The movements in cash in circulation around the time of cannabis legalisation would seem to provide early evidence to suggest that Canadian Prime Minister Trudeau’s policy has already been successful in crimping the black economy. The fall in currency in circulation of C$1.2 billion in October was broadly in line with Statistics Canada’s estimateContinue reading “Legalising cannabis reduced the use of cash in Canada | LSE Business Review”

xxx If people are ever going to start using privacy-friendly payments options, then product designers will have to ensure that privacy is seamlessly integrated into the payments process. Making anonymity the default option would be a big step. From JP Koning: People Don’t Care About Financial Privacy As Much As You Think. We need toContinue reading “JP Koning: People Don’t Care About Financial Privacy As Much As You Think”

xxx “Customers will still have to have taken appropriate steps to make sure the person they paid was not a scammer, but if they have taken reasonable care, then they will now be much more likely to be reimbursed” From “Payment scam victims more likely to be reimbursed – BBC News”. xxx

Around a decade ago my son was, as is rather the fashion with teenagers, in a band. With some friends of his, he arranged a “gig” (as I believe they are called) at a local venue. There were five bands involved and the paying public arrived in droves, ensuring a good time was had byContinue reading “Blog Zuckbucks redux”

xxx “Denmark’s Business Minister Rasmus Jarlov. ‘Fewer people use cash today, so we think there should be a balance between the difficulty and security risks placed on business owners and the benefits of accepting cash,’” From “Something rotten in the state of Denmark? Govt wants stores to stop accepting cash — RT Business News”. xxx

xxx “Generally, economists believe the surge is related to people around the world wanting to hoard cash, a similar force that’s driven the interest in cryptocurrencies. High denomination, high value currency notes have historically been a preferred form of payment for criminals, given the anonymity, lack of transaction record and relative ease with which theyContinue reading “Surge in $100 bills in circulation may be linked to global corruption”

xxx “Armed with sledgehammers, the organised gangs have stolen £120,000 out of 70 machines in the Royal Borough of Kensington and Chelsea in the past 12 months.” From “Cleaning up: vacuum gang sucks money out of parking ticket machines”. xxx

xxx “Under the FSC’s plans, established banks must open their payment network to all fintech payment service providers as well as other banks. That would enable customers to use a single application to access their accounts at different banks and make payments. Fees charged on fintech firms for using the network will be lowered toContinue reading “Korean banks ordered to open up payment systems to fintech firms”

xxx Back in the 1930s, according to John Maynard Keynes, one of the jobs of a district commissioner in Uganda was to inspect and evaluate goats. The local unit of currency was the goat, so most goods were priced in goats. So when a local sought to discharge a debt by presenting an animal thatContinue reading “Cryptocurrencies untether the goat of sovereign tender | Financial Times”

xxx “New Jersey state Sen. Nellie Pou… added that she had asked Amazon, which is operating five pop-up stores and one bookstore in New Jersey, to come up with ideas for how they could serve those without a bank account, but that she did not hear back. Amazon declined to comment.” From “Legislation could forceContinue reading “Legislation could force stores to take your cash – SFGate”