Looking forward to contributing to the Smartex community next year, especially in HESCA and the Future Payments Forum #pingNpay #micropayments

I bought a coffee in S Wales and my bank references a cafe in Scotland. Is this: 1. poor bank UX? 2. a flaw in the card data model? 3. an example of why it is impossible for AI to work effectively? 4. a feature of master merchant processing? 5. a breach of card network rules?

A programmable CBDC is useless in a free society - no one would use it, unless forced to, in which case society is no longer free Only private money controlled by its users can be programmable, enabling innovation for the benefit of society.

#CBDCs create financial, economic and human rights risks - explained here with an architecture to prevent them @SteveBakerHW @digitalpoundfdn @RepTomEmmer @cgledhill @giancarloMKTS @DGorfine @LordChrisHolmes @DrLisaCameronMP @Alex_Stafford @simonfell linkedin.com/pulse/risks-soc…

"If you are going to build a payment system that big, then you need a security model that isn't what swift uses, and blockchains pretty much don't have security problems" #payments #cryptoassets lnkd.in/dhFArB-v

an interesting perspective on the world's population lnkd.in/dFZJcDtv

7/7 in summary, a missed opportunity (for now). Stablecoins are clearly becoming important systemically and the PWG has a duty to respond. But as observed by @jerallaire this is evidence the US is winning the digital payments race. I agree. Regulators should embrace it.

1/7 The US PWG report on stablecoins is worth reading. 26 concise, well written pages, a primer in itself on the subject. Much of it makes a lot of sense but I feel it is grounded in old thinking/solutions and missing an opportunity. Some observations: home.treasury.gov/news/press…