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More UK banks suffered outages on payday in February with Lloyds Bank , TSB Bank , Halifax and Nationwide Building Society suffering. UK high street banks accumulated 803 hours of outages in the past two years and are facing heavy fines.
From: (2) 33 days of outages – TWIF UK & Europe (10/03) | LinkedIn.
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To understand just how poor our infrastructure is, take a look at the story of the unfortunate man of the cloth who had his house stolen by a criminals who made copy of his driving licence, put their own photograph on it and then used it to obtain a bank account and the utility bills that are the crucial lynchpin of Britain’s 21st century know-your-customer pantomime.
The criminal presented the fake driving licence to a lawyer in order to sell the house. The lawyer, or more likely the lawyer’s clerical assistant, then took a photocopy of the licence and stuck in a draw. End of. Lawyer’s clerks are not, by and large, MI5-trained assessors of global identity documents and wouldn’t know a fake New Zealand passport from a hole in the ground. The criminal went on to sell the house through an online property service after impersonating real estate agents by setting up a fake site and references.
It took two years for a property tribunal to agree that the rightful owner could get the title of his property back and that the current owner o fthe house (who had apparently bought it in good faith) could receive compensation from the Land Registry, although I have to say that as I am not lawyer I don’t understand why it is the Land Registry on the hook rather than the people who accepted the fake ID in the first place.
Rafe Brena, Ph.D.
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19 min read
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Feb 28, 2025
Mixed reality smart glasses (MRSG) will replace the smartpho
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There’s another red line. Many, including Yuval Harari are suggesting, following Dan Dennett’s analogy of money, that no Ai be ever allowed to masquerade. Self-disclosure is mandatory. That is to say all Ai generated product and content must present itself as such. Whatever Ai’s do, however they communicate, it must always be apparent and clear that it is an Ai speaking, an Ai drawing, painting, videoing, writing, composing, singing, playing, chatting, reporting, producing content of any kind. Any pretence or disguise should fall foul of international counterfeiting and forgery laws. A digital watermark as complex and unbeatable as that on banknotes would be required.
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Meta, as mentioned, does not particularly like the move. Reuters quotes Meta spokesperson Stephanie Otway, who says “parents tell us they want to have the final say over the apps their teens use, and that’s why we support legislation that requires app stores to verify a child’s age and get a parent’s approval before their child downloads an app.”
From: Apple volleys age verification question back to sites and apps | Biometric Update.
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This, my friends, is the birth of A-Commerce.
And look closely, and you’ll notice that digital identity flows through each. So let’s take a look at the Empowerment Tech angle
From: Is LinkedIn a massive digital ID network hiding in plain sight, and The New (Travel) Agents.
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Anyone, anywhere should be able to verify workplace identities
From: Is LinkedIn a massive digital ID network hiding in plain sight, and The New (Travel) Agents.
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For crypto, the moment is more existential. Derided for years as an industry dominated by gamblers and money launderers, crypto now has a moment to define itself as a political force in other terms — if, that is, its leaders stand for something more than higher asset prices.
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A typical comment was that of a German tech entrepreneur who described the announcement that the government would not acquire additional assets as “famous words than can unleash a bear market”. As inded they did. But who cares? Since when was it the responsibility of the US government
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The November 26 SSRS survey indicated that about 46 percent of adults still carry cash, while 34 percent seldom, if ever, carry it.
In general, the older you are, the more likely you are to like to carry cash. Likewise, men carry cash more often than women. The key for coin-collecting readers is that the 18- to 29-year-old group is the least likely to carry coins and bank notes, but those that never carry cash in this group only numbered 23 percent. That means 77 percent of this youngest age group surveyed still carry some physical money regularly.
From: Cash Is Still King for Many Americans, Especially Older Generations – Numismatic News.
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