Kiffmeister’s FinTech Daily Digest (05/22/2020)

Presidio Principles: Foundational Values for a Decentralized Future
The World Economic Forum’s “Presidio Principles: Foundational Values for a Decentralized Future” lays out sixteen principles aimed to protect users and preserve the values of the technology so that all can benefit, in a “Bill of Rights” style document. Rights are grouped into four broad pillars; (i) transparency and accessibility (the right to information about the system), (ii) privacy and security (the right to data protection), (iii) agency and interoperability (the right for individuals to own and manage their data), and (iv) accountability and governance (the right for system users to understand available recourse).

Cardano is Working on a Microchip That Would Give Crypto a Cash-like Experience
Cardano is working on a crypto-native microchip that would enable crypto transitions without the internet access, potentially delivering a cash-like experience. The private key from one chip would be transferred to another, and it would provide the proof of erasure, making sure that the key only exists on the new device.

The Stellar Signer Card to improve the security of Stellar Network transactions
The Stellar Signer Card uses multisignature technology to maximize the security of digital assets issued on the Stellar network. It connects to smartphones with near-field communication (NFC) technology which provides an instant connection. In the LOBSTR Vault app the user chooses any transaction and holds the card under the smartphone. A signed transaction will then be sent to the Stellar network automatically.

Albanian Parliament Signs New Crypto Law
The Albanian parliament signed a new bill into law to implement a legal framework for crypto-assets to regulate conditions for licensing and regulating all crypto-asset operators and stock exchanges. Severe fines are stipulated for anyone who violates the provisions of the new law.

Mobile Money transactions grow by 450% in 3 months
In Rwanda the value of funds transferred via mobile money grew by 450% between January and April data reportedly from the Rwanda Utilities Regulatory Authority shows. The central bank and local telcos temporarily removed charges on transfers between bank accounts and mobile wallets, mobile money transfers, and merchant fees on payments for all contactless transactions to reduce chances of COVID-19 transmission.

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