29 January 2016
Below are our top reads from the last seven days of industry news*. Every Friday we'll publish our picks from industry developments, stories and announcements right here so you can keep you up to date with what's happening in payments here and overseas.
If you'd like to have our top reads emailed to you every Friday, let us know by emailing email@example.com
Apps for parking
No more checking for loose change under couch cushions for residents of New Plymouth. The local council is introducing an app for parking payments. One of its most useful features is the ability to let users who want to extend their park longer top up without having to go back to their car.
R3 completes successful distributed ledger experiment
The fintech innovation company R3 CEV have announced that a distributed ledger experiment involving 11 major banks has been a success. Barclays, Credit Suisse, Commonweath Bank of Australia and others got together to imitate exchanging value using tokens to see whether instant payments using distributed ledger technology could work for some of the world’s biggest financial institutions. Apparently, it can. We referred to this R3 CEV initiative in our 'rise of blockchain' piece a while back; get a refresher on our observations about the technology here: The rise of blockchain.
It’s all about the experience
“Payment is not the main objective of any transaction. It is just the last mile of a decision that has already been made, but it is a big part of that whole experience.” Kurt Bilafer talks about the importance of customer intimacy on Mobile Commerce Daily.
Relics of the past?
Cash is compared to compact discs, VCRs and landlines in this video from CNN that looks at the pros and cons of a cashless future using Sweden as an example. The Swedes were first to paper money in the 1660s, and now it looks like they might be the first to go fully carded, fully-apped, and say goodbye to coins and notes forever.
What to expect in the year of the monkey
With the economic year punctuated by major events like the Rio Olympics and elections in both Aussie and the US, 2016 is shaping up to be a big one in the world of finance. The Sydney Morning Herald’s Money has assembled a team of financiers to identify the most important trends for economic performance and money management in 2016.
Is Bitcoin Dead? ...again
The media have cried wolf a fair few times about the demise of Bitcoin, but this time a leading Bitcoin developer has written its obituary. Mike Hearn cites an issue that has been in hot debate since the middle of 2015: the scalability of the Bitcoin’s underlying ledger mechanism, the blockchain. He says this issue heralds Bitcoin’s demise.
*These articles cover a range of topics from broad payments industry news here and overseas. They do not represent the views of Payments NZ and are not endorsements.