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This is an obvious reason why JPMC is behind the service, as processor of 70% of eCom transactions they can help every merchant and partner (think Sq and PayPal) leverage a trusted identity and open an account.

From Authentify – Bank ID Service – Noyes Payments Blog.

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Banks have largely lost their data advantage in consumer identity. Consumer trust has shifted toward Apple and Google.  This service is perhaps their last shot to retain it.. In some form.

From Authentify – Bank ID Service – Noyes Payments Blog.

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That chance message launched DiResta and her colleague Josh Goldstein at the Stanford Internet Observatory on an investigation that uncovered more than 1,000 LinkedIn profiles using what appear to be faces created by artificial intelligence.

From The latest marketing tactic on LinkedIn: AI-generated faces : NPR.

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The UK’s Payment Systems Regulator (PSR) has included in its plans for 2022/23 the removal of barriers to to the uptake of A2A retail payments, which it says can provide a “credible” alternative to card schemes.  As part of these plans it intends to investigate whether the commercial incentives for banks, intermediaries and merchants are there to support greater use of A2A payments and to see what it can do to increase uptake and promote competition with cards. The PSR is also working with the CMA, FCA and Treasury on the future of open banking regulation, which will play a major role in A2A payments uptake.

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FTX is seeking to bypass the brokers and use an approach that has evolved in the do-it-yourself, 24/7 crypto trade. In this world, digital assets move on computer networks that have no opening or closing times, or any of the traditional gatekeepers that were required by older technologies.

Under the FTX plan, customers would deposit collateral in FTX accounts — cash or crypto — and be responsible for keeping enough on hand to cover margin requirements at all times. Margin levels would be calculated every 30 seconds. If the margin falls too low, FTX would start liquidating the position in seconds, selling it off in 10 per cent increments or, in worst-case scenarios, offering it to “backstop liquidity providers who agree ahead of time to accept a set amount”. FTX also promised to put $250mn of cash into a guarantee fund.

FTX officials argue that the current practice of asking for margin creates a world of unsecured credit in which FCMs basically hope the customer will pay at some point. Their automated system would be safer, they say. Liquidations would be more frequent, but less ruinous. As proof, they pointed to the ability of their three-year-old international exchange to survive the ferocious volatility of digital asset prices.

From Blockchain and financial markets: will computers push out brokers? | Financial Times.

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Jamie Dimon says competition from Apple and Walmart is ‘intensifying’

From JPMorgan CEO Jamie Dimon Warns That Nonbank Competition Is ‘Intensifying’.

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One platform is attempting to make the trading of crypto more accessible and straightforward with the use of artificial intelligence. Currently, new users must learn about markets and the assets they want to trade, adding to the barriers of getting started.

The decentralized exchange, Soldex, is eliminating these barriers by giving traders the capabilities to use AI-powered trading algorithms developed by users.

From Solana-built decentralized exchange uses AI to make trading more accessible.

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That opens up the possibility, for example, of Telegram or Signal users being able to exchange messages with WhatsApp users.

From EU agrees sweeping new digital rules in effort to curb big tech’s power | Technology | The Guardian.

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The Met Police has suggested giving officers warrant cards that women and girls can scan with a smartphone to confirm their identity.

From Met Police suggest giving officers warrant cards that women and girls can scan | Daily Mail Online:

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Last month, a watchdog report revealed an astonishing 2,000 Met warrant cards had gone missing. 

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Last week, the latest denial was handed down to a proposed Bitcoin spot ETF led by Cathie Wood of Ark Invest. In its 55-page order rejecting the application, the SEC pulls no punches. Here’s a key passage that begins on page 22 (emphasis added):

“… does not sufficiently contest the presence of possible sources of fraud and manipulation in the bitcoin spot market generally that the Commission has raised in previous orders. Such possible sources have included (1) ‘wash’ trading, (2) persons with a dominant position in bitcoin manipulating bitcoin pricing, (3) hacking of the bitcoin network and trading platforms, (4) malicious control of the bitcoin network, (5) trading based on material, non-public information, including the dissemination of false and misleading information, (6) manipulative activity involving the purported “stablecoin” Tether (USDT), and (7) fraud and manipulation at bitcoin trading platforms.”

Gary Gensler can be accused of many things, but being ignorant of how crypto markets work is not one of them.

From A Spot of Bother for Bitcoin – Doomberg.

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