A library of snippets
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Insider reports that Amazon’s Project Santos is working on the point-of-sale (POS) solution to compete with the likes of industry giants… the solution designed for third-party retailers will process transactions both online and in store, and offer technological capabilities that allow for data analytics around inventory and other business functions. It will also offer Amazon checkout options and will connect to Prime services, Flex delivery and the palm identification system.
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it’s not a huge leap to imagine Apple offering identity verification-as-a-service. Verifying users’ identity is a key requirement not just for financial services but also age-restricted products, “sharing economy” platforms like Uber and Airbnb, healthcare services, and some ecommerce sites.
From Apple Adds IDs to Wallet, Could “Apple KYC” Be Next? – by Jason Mikula – Fintech Business Weekly:
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An absolutely fascinating case in point is El Salvador. The national identity number (“the DUI”) was used by fraudsters to steal money during the roll-out of the “Chivo” Bitcoin wallet. The DUI numbers of many people are public, including the lists of recently-deceased people and their DUIs that are published by insurance companies. Why? To stop fraud, of course.
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Ecommerce payments have lower barriers to entry than point of sale payments because they don’t require merchants to upgrade their physical infrastructure in order to accept new payment methods. This means open banking payments can be integrated into the ecommerce customer journey relatively easily.
From The future of ecommerce payments: 4 reasons why open banking is ready to challenge card dominance:
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76 percent of currently unbanked consumers say they have had either a checking or savings account at a bank at some point in the past, and 33 percent say they have had one in the past year.
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Our results demonstrate that Chinese investors played a dominant role in the Bitcoin price formation before the ban, and that their influence has not significantly decreased after the shutdown of Chinese trading platforms. Aiming to explain our findings, we provide strong evidence that the crackdown on Bitcoin trading has not been effective as Chinese investors continue to purchase Bitcoin using the stablecoin Tether instead of Chinese yuan.
From How effective is China’s cryptocurrency trading ban? – ScienceDirect:
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So, basically, half of the unbanked want a bank account and half of the underbanked don’t.
53% of unbanked adults are interested in having a bank account.
58% of underbanked adults say they could manage their finances just as well without a bank account.
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The cookies are required by UK and EU law, but Denham is recommending a less intrusive alternative system in which people set their privacy preferences a single time in their browser.
From UK to ask G7 for privacy overhaul targeting online tracking requests | Financial Times:
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According to Javier Argueta, the legal advisor to the President’s Office, all businessmen who do not use the Chivo wallet and refuse to make transactions with Bitcoin face action under such rules as the Consumer Protection Law; referrals will be made.”
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Since we now know that social networks are designed to produce specific effects (keeping us connected, and consuming content, as long as possible), we might turn to online spaces that are more attention and identity friendly. People’s desire to navigate cyberspaces where they feel less judged, or less pushed to “promote” themselves “coherently,” might incentivise companies to create networks suited to those needs.
From Brand me: Digital selves and the transformation of identity | L’Atelier:
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