Transferring money from one person to another is relatively easy if you are in physical proximity, in the same time zone or national financial system. But what if your counterparty […]
Payment lies at the origins of money and a promise to pay still supports public currency. The Bank of England promises to pay…but what? As if to reinforce the belief […]
I meet technologist Dave Birch on a cold, wet January afternoon at Patisserie Valerie in Old Compton Street, a café in London’s Soho district. This is the original branch of […]
Expectations that cryptocurrencies would grant their users complete anonymity have proved wide of the mark. But the debate over digital money and privacy may just be beginning. [This article is […]
Dystopian visions Bit by bit, the optimism of the early internet era has dissipated, replaced by widespread fear over a dystopian future. Valuable personal information is exposed unwittingly and carelessly […]
Although the world’s payment and financial settlement networks are rarely in the news, whoever controls them has enormous economic and political power. As an example, the fact that US dollar […]
Ten years after the failure of Lehman Brothers, the conventional narrative is that the bank failed because of the US real estate bubble and the collapse in the market for […]
Settlement of securities trades matters. The world’s market for shares and bonds is now worth $150trn, almost double the $90trn global money supply. The keeping of accurate accounts of securities […]
Bitcoin tracker funds threaten a clash by bringing together two fundamentally incompatible financial systems, says one former investment banker. Bitcoin exchange-traded funds (ETFs) are still on the drawing board: as […]
Some technologies fade away and are replaced: typewriters, punch card computers and VHS tapes are now obsolete. But in payments, new technologies may need to build on old ones, says […]