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Mr. Lyles secured credit cards often using fictional names and numbers the Social Security Administration hadn’t yet assigned.

From The New ID Theft: Millions of Credit Applicants Who Don’t Exist – WSJ

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“The easy access to a repository of people’s personal data has in turn spawned a burgeoning subeconomy of data miners and traders and opened up multiple avenues for illegal and unethical trading of identities.”

From “Aadhaar: India’s Flawed Biometric Database | The Diplomat”.

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We observe that banks are overwhelmed by API designs and specifications. Numerous API standardisation initiatives emerged for PSD2 (Berlin Group, STET, UK/CMA, Polish API, Slovak API) requiring banks to make a strategic decision on participation in said initiatives.

From Banks should open-up beyond PSD2 to deliver on the innovation promise

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Las Vegas strip club accepts cryptocurrency

From I-Team: Las Vegas strip club accepts cryptocurrency – YouTube

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A video game company, Ubisoft, is leveraging a new AI tool called Commit Assistant, which flags mistakes in a game’s code before programmers even make them.

From AI Predicts Coding Mistakes Before Developers Make Them

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The last major failure of a Scottish bank before the twin collapses of the Bank and Royal Bank of Scotland was 1879 bankruptcy of the City of Glasgow bank, and within months of that event all of the directors were in jail.

From Ten years after the nationalisation of Northern Rock | British Academy

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Share on LinkedIn (opens new window) Mail Save Save to myFT Caroline Binham in London 10 HOURS AGO 8 “Shadow banking” grew by nearly 8 per cent globally to more than $45tn on a conservative measure after international rulemakers were able to include detailed data from China and Luxembourg for the first time.

Shadow banking — the parts of the financial system that perform banklike functions such as lending but do not have the same safeguards — accounted for 13 per cent of total global financial assets, according to the Financial Stability Board, the international group of policymakers and regulators that makes recommendations to the G20.

From Shadow banking grows to more than $45tn assets globally

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So, companies have little inherent interest—or even ability—to provide consumer portability. Even if the leaders of a company intellectually want to provide portability, their fiduciary responsibility dictates that they cannot.  

From The Double-Edged Sword of Using Blockchains for Identity Portability — The Information

This is why the regulatory environment has to be the pressure for change.

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In today’s world, with so much talk about the policy advantages of technological transparency, the use of blockchains for transparency can an important tool.

From Blockchain: What is it good for?

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With the decline of traditional trusted intermediaries, and the discovery that social media account holders may well be bots, we will crave verifiability

From Our struggle with Big Tech to protect trust and truth

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