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From: Digital Dollar Project and Western Union pilot CBDC for cross-border remittances.

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Luke Brereton, head of client engagement and strategy at investment company State Street Digital, says tokenisation is attracting significant interest and activity with a majority of its asset manager clients. “In short, this technology can help funds, and the industry, achieve two goals: improved efficiency and enhanced asset utility — with the former providing increased margins and the latter driving capital inflow for funds.”

The added value of tokenising an asset, explains Kevin de Patoul, CEO and co-founder at digital assets market-maker Keyrock, is that you are able to automate a lot of steps in the value chain of exchanging that asset. “The main savings are going to be around the post-trade value chain in terms of clearing, settlement and potential new custody asset servicing. You can automate lots of those steps, and some of them you can eliminate entirely. Also, you potentially get enriched information about the asset and its movement and ownership.”

From: Riding the crest of the tokenisation wave – The Banker.

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The issue, reported by 404 Media, stems from a feature on the Metropolitan Transportation Authority’s (MTA’s) OMNY website, which allows users to see their seven day ride history.

To see this information, riders do not need to have an account with a PIN or password. Instead, they simply enter their card details.

The feature works for normal card payments as well as Apple Pay and Google Pay, despite the latter two giving merchants a tokenised number.

From NYC subway security hole lets people use card info to track journeys.

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The PSD3 and PSR proposal modernize the second Payment Services Directive (PSD2) and will in addition thereto incorporate the regulatory framework for e-money institutions. Consequently, the E-money Directive (EMD2) will be withdrawn upon adoption of the PSD3. PSR, once adopted, will be directly applicable in all EU member states and is aimed at harmonizing the ongoing requirements in relation to the provision of payment services across all member states.

From: PSD3 and PSR: sharing data on fraudulent payment transactions | DLA Piper.

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Instagram began prioritizing video, then livestreaming, and then shopping. Each change muddled the purpose of Instagram even further.

From: Social Media Decline: Ending for Twitter, Facebook, Instagram, TikTok.

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At the core of Bruening’s frustration was a sea change that had swept across Instagram: Instead of everyday photos from regular people, the platform had become a curated platform where even seemingly authentic content was meticulously planned.

From: Social Media Decline: Ending for Twitter, Facebook, Instagram, TikTok.

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Ghost brokers, posing as legitimate brokers on social media, further complicate the landscape, peddling fraudulent insurance using fake policy documents.

LexisNexis Risk Solutions’ recent research highlights the issue’s magnitude: 34% of Irish insurance customers were lured by cheap social media insurance adverts, with 16% of young adults falling victim to such schemes.

From: Synthetic ID fraud – a growing threat to the insurance industry – Insurance Post.

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It is interesting to see that the PID (Person Identification Data) is seen as separate to other credentials (Electronic Attestations of Attributes). This seems like an additional complexity that is unnecessary, unless the document is just differentiating from the perspective of usage rather than the underlying technology.

From: Analysis of EU Digital Identity Architecture and Reference Framework | Avast.

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Speaking of the Wallet app, it’s also true the digitization of credit cards, identification cards, insurance cards, keys, and more means virtual wallets have accessibility benefits all their own over physical wallets.

From: New ‘Pay The Apple Way’ Campaign Shows Apple Pay Is Secure, Private, And Accessible.

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Everywhere I go, I try to purchase items using bitcoin first – either with my Coinbase wallet or my Wallet of Satoshi. I went grocery shopping at the supermarket in my neighborhood and tried to pay with bitcoin at check-out. The cashier initially stated the store accepts bitcoin, and she busily started pressing buttons on her computer that appeared to be five-plus years old. However, the bitcoin point of sale component of the system was not working. So, I had to pay with cash.
When I explored Presidente Plaza, one of the newest malls in the country that is not yet fully built, I tried to use my Wallet of Satoshi several times. The coffee shop did not have a functioning bitcoin PoS system, nor did the comic shop that I entered. I ended up paying using a credit card both times

From: El Salvador Diary: Lightning Is Key to Bitcoin Adoption.

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