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Private currencies also don’t mesh well with the current political environment, which increasingly features demands for more national sovereignty. In any case, new regulations and barriers are already being erected, suggesting that closed networks that use tokens to transfer value securely at scale, rather than Libra-style “stablecoins,” are a better bet.

From The New Digital-Payments Race by Huw van Steenis & Huw van Steenis – Project Syndicate:

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I suspect we will see a three-horse race between new private tokens, CBDCs, and efforts to improve the current system by accommodating new payment platforms.

From The New Digital-Payments Race by Huw van Steenis & Huw van Steenis – Project Syndicate:

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The first stages of America’s emergency response to the COVID-19 pandemic skipped past fintechs and stuck to traditional methods of delivering money — checks and direct deposit. If the federal government continues to provide a lot of direct support — think school lunch funds for kids who aren’t in school, pay supplements to working individuals or the unemployed, health care direct payments, small business support — fintechs may have a role to play.

From With all of the New Innovations – GPR Prepaid Debit Cards Continue to Prove they are still Essential for the Un and Underbanked! | PaymentsJournal:

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The Department of Homeland Security has come out strongly against internet voting in new draft guidelines, breaking with its longstanding reluctance to formally weigh in on the controversial issue, even after the 2016 Russian election hacking efforts. The move comes as a number of states push to expand the use of ballots cast online.

From US government plans to urge states to resist ‘high-risk’ internet voting | US news | The Guardian:

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Gov.uk Verify, U.K.’s digital identity system, will continue to receive funding, the Treasury decided, due to an increase in Universal Credit applications due to coronavirus, writes Computer Weekly.
Although funding was to end in April 2020, the Treasury announced the deadline would extend for an additional 18 months. In 2018, Oliver Dowden, Cabinet Office minister at the time, set the April 2020 deadline. So far, the government has spent roughly £175 million (US$216 million).
Since the end of March, more than 1.4 million people have applied for Universal Credit, while 400,000 were using the identity verification system for the first time. Due to delays, only 35 percent of applicants could successfully set up a Verify account, as people who did not have a passport, driving license and credit history had to confirm identity by calling the call center.
To make the process smoother, users of the Department for Work and Pensions’ (DWP) Government Gateway system were allowed to omit the Verify step.
“The coronavirus pandemic has led to unprecedented demand for key online services using digital identity such as Universal Credit,” said Cabinet Office minister Michael Gove, according to the publication.

From UK extends Gov.uk Verify funding, accused of risking asylum-seekers’ health with biometrics collection | Biometric Update:

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As a result, one of the unexpected long-term legacies of the Covid-19 period may well be a reevaluation of the borders of technology and national sovereignty.

From How Google and Apple Need to Play the Covid Contact Tracing Debate’s Next Phase — The Information:

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So far in the Covid-19 crisis, I think Google and Apple have done a masterful job of managing the technology and policy around contact tracing technology. Faced with a difficult set of choices, to date it seems they have come out ahead with policies that give users privacy and preserve trust, while also offering incremental functionality that could help save lives.

From How Google and Apple Need to Play the Covid Contact Tracing Debate’s Next Phase — The Information:

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Think of the state of California which imposes a 15 per cent excise tax on licensed cannabis sellers while the cash-based black market avoids tax. The state estimates the regulated market has captured less than one-third of activity.

From Gary Cohn: Coronavirus is speeding up the disappearance of cash | Financial Times:

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To accomplish this, Mygrant said, a broker pays pesos for the drug traffickers’ dollars. The traffickers deliver cash to an exporter in Los Angeles, who ships goods — commonly clothing, cosmetics, jewelry or sportswear — to a retailer in Mexico. The retailer sells the goods for pesos and pays the broker.

From Coronavirus slows L.A. money laundering, bringing seizures – Los Angeles Times:

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Open banking review faces ‘worrying’ delay as pandemic drives Canadians to fintech
Review setback sparks concern for Canadian consumers who are already sharing financial data without a federal framework

From Open banking review faces ‘worrying’ delay as pandemic drives Canadians to fintech | Financial Post:

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