The Riksbank CBDC pilot project will focus on developing a test environment where simulated agents can safely use a CBDC. The project will test holding e-krona in a digital wallet, completing payments, and making deposits and withdrawals via a mobile app. Users should also be able to complete payments via both wearable devices such as smart watches, and more traditional means of payments including cards.
Shopify has joined the Libra Association roughly a month after Vodafone pulled out to focus on its own digital payments system. This is the first new member of the Association since its formation four months ago.
Cambodian tourists visiting Thailand will now be able to use the mobile payment app to scan QR codes in Thailand, whereas Thai tourists should expect to be able to scan QR codes in Cambodia by the third quarter of 2020.
A two-phase offering of this kind, whether styled as a SAFT (Simple Agreement for Future Tokens) or otherwise, does not inoculate an ICO or the issuer from the application of the federal securities laws. The SEC examines the facts and circumstances of a token offering at all relevant times, looking to the economic reality of the transaction or transactions, whatever they may be called.
The paper “Lightning Network: a second path towards centralisation of the Bitcoin economy” (by researchers Jian-Hong Lin, Kevin Primicerio, Tiziano Squartini, Christian Decker and Claudio J. Tessone) concludes that lightning has an “unequal wealth distribution” with a smaller percentage of nodes on the network gradually accumulating a larger proportion of bitcoin (BTC).
New payment technologies, like China’s digital wallet revolution, are unlikely to catch on in America. Innovations that reduce the inefficiency and expense of our payment system will simply fail to generate enough perks to motivate consumers to ditch their rewarding plastic. The result will be a nation where income inequality is exacerbated every time you buy.
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The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.
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