A library of snippets
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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Yaya Fanusie
I’m an adjunct senior fellow at the Center for a New American Security, a bipartisan national security think tank.
I met with an entrepreneur with years of experience working in Africa, both in conventional finance and with cryptocurrencies. When I explained the problem, the entrepreneur remarked, “Why don’t they just focus on using mobile money instead of crypto? It would be so much easier.” I was a bit embarrassed. In seeking a blockchain solution, I had put the technological cart before the horse.
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As financial inclusion studies show, being unbanked is not the problem. It is the effect of a problem. In 2021, a shift is needed from describing lower income populations as unbanked, which only emphasizes one’s status as a potential customer of financial institutions. A better term to convey the economic dynamics at play for the poor would be unmarketed. Income level is usually a function of one’s participation in a market, whether it is the labor market or the business market. Participants with no employment, low wages, or who can not find enough buyers of their business production are less likely to have the income needed to save money, repay loans, and invest in financial products. This is a market problem, not a banking problem.
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Yaya Fanusie
If there is one phrase that deserves to be left behind with the rest of 2020, it is “banking the unbanked”… The sentiment behind this popular parlance is well-meaning. But it is misplaced.
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I met with an entrepreneur with years of experience working in Africa, both in conventional finance and with cryptocurrencies. When I explained the problem, the entrepreneur remarked, “Why don’t they just focus on using mobile money instead of crypto? It would be so much easier.” I was a bit embarrassed. In seeking a blockchain solution, I had put the technological cart before the horse.
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Gary Gensler, chair of the US Securities and Exchange Commission (SEC), says that while he is “technology neutral”, crypto assets were no different than any others when it came to such public policy imperatives as investor protection, guarding against illicit activity and maintaining financial stability.
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Fortunately, Apple and Google are using the same mobile standard for driver’s licenses, so checkpoints should only need one machine to accept both.
From Wallets Are Over. Your Phone Is Your Everything Now. – WSJ.
More first to the mill of my crackpot theory that the mobile driver’s license mDL interoperability standard (ISO 18013-5) will turn out to be the cornerstone of mass market identity!
Gary Gensler, chair of the US Securities and Exchange Commission (SEC), says that while he is “technology neutral”, crypto assets were no different than any others when it came to such public policy imperatives as investor protection, guarding against illicit activity and maintaining financial stability.
Snippings