Category Archives: Uncategorized

xxx Chancellor Philip Hammond has announced a new National Productivity Investment Fund of £23 billion to be spent on innovation and infrastructure over next five years. From Chancellor announces £23bn Productivity Investment Fund – ITV News Since this announcement productivity has collapsed still further.

xxx Bank of England’s (BOE) Chief Cashier Victoria Cleland adamantly stating that “cash is not in decline.” Cleland made the remarks at the Future of Cash Conference in Vienna, Austria, on Oct. 5, continuing the argument that, despite the fact that non-cash purchases and transactions are on the rise in the U.K., the amount of currencyContinue reading “BOE’s Victoria Cleland: UK Pound Usage Grows | PYMNTS.com”

Well, this was fun. The BBC2 series “Billion Dollar Deals” had an episode on the “War on Cash”. As you might imagine, the reason I mention this is because I was on it, gratifyingly labelled a “Digital Money Expert”. //embedr.flickr.com/assets/client-code.js xxx //embedr.flickr.com/assets/client-code.js xxx //embedr.flickr.com/assets/client-code.js xxx //embedr.flickr.com/assets/client-code.js xxx xxx   xxx xxx

xxx European Banking Authority should require banks provide evidence that a customer was aware of the nature of the transaction and gave informed consent before they can hold the customer liable. From Liability for push payment fraud pushed onto the victims – Bentham’s Gaze Having worked on a European project about means of establishing informedContinue reading “Liability for push payment fraud pushed onto the victims – Bentham’s Gaze”

The British interior minister (“Home Secretary”, as we call them) is the historian Amber Rudd, famous for being the “aristocracy co-ordinator” for the inexplicably popular film “Four Weddings and a Funeral”. She has been attracting headlines. Amber Rudd Says She Doesn’t Need To “Understand How Encryption Works” To Know It Needs Changing From Amber RuddContinue reading “Amber Rudd Says She Doesn’t Need To "Understand How Encryption Works" To Know It Needs Changing”

xxx That said, there does still seem to be a lot of cash used for potentially dodgy purposes (e.g. drug deals or tax evasion purposes). While the RBA doesn’t have any direct data, its damaged banknote facility has uncovered multiple examples of huge cash piles in excess of $20,000. From $100 notes: the heart ofContinue reading “$100 notes: the heart of the black economy? – MacroBusiness”

xxx One possibility is the break-up, or unbundling, of banking services. In the future, we might keep minimal balances for payment services on electronic wallets. The remaining balances may be kept in mutual funds, or invested in peer-to-peer lending platforms From IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency – FoundationContinue reading “IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency – Foundation for Economic Education – Working for a free and prosperous world”

xxx People in China simply aren’t interested in bitcoin’s potential for political change… Ordinary Chinese bitcoin users I spoke to are far more interested in the ability to speculate on bitcoin’s wild price swings—it’s just another way to make money as China continues to adopt characteristics of a market economy. From Why China dominates bitcoinContinue reading “Why China dominates bitcoin and how it may control the blockchain technology behind it — Quartz”

xxx “I don’t mess with Venmo because I don’t trust it,” he said. That view echoed what someone said on this panel last year when it was comprised of young college students. Trust can be an important factor when choosing which products consumers use day to day. From Is Zelle finding a groove with bank customersContinue reading “Is Zelle finding a groove with bank customers over Venmo? | Mobile Payments Today”

xxx Paul Volcker, of the U.S. Federal Reserve fame, even considered it [the ATM] the “only useful innovation in banking.” From A Brief History of the ATM – The Atlantic xxx