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The following article is an excerpt from the book Everything Transaction. Facebook caused quite a stir back in 2019 when it announced plans to launch a global cryptocurrency called Libra. But gradually everything went quiet and it now seems that the project has been scrapped completely. What went wrong?On 18 June 2019, Facebook along with...
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There have so far been two major ‘phases’ of the internet, which are now retrospectively referred to as Web 1.0 and Web 2.0. Opinions differ on the precise beginning and end of these two phases, so the periods are not clearly defined – and the burgeoning Web 3.0 phase is no different.  The first two phases of the internetAlthough there ar...
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In today’s data economy in which everything has become a transaction, future relevance for banks is no longer based on payments alone. To help senior executives of banks to start leveraging their Open Banking capabilities in this context, we recommend three must-do actions to  holistically address the components of a digital trust infrast...
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The rising importance of Open Banking, digital identity, consent management and data sharing has created a ‘Blue Ocean’ market for banks. We believe that they now have a unique opportunity to strengthen and truly safeguard their relevance in the data economy. But they need to start taking decisive action right now in order to demonstrate ...
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The rising importance of digital identity, consent management and data sharing has created a ‘Blue Ocean’ market for banks. I believe that they now have a unique opportunity to strengthen and truly safeguard their relevance in the data economy. But they need to start taking decisive action right now in order to demonstrate that they can p...
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Sixteen major Eurozone banks have come together in the European Payments Initiative (EPI) to launch a new payment system aimed at taking on rival card schemes and the threat posed by Chinese and US big-tech firms. Although previous pan-European collaboration projects (e.g. Monnet, Eaps, Payfair) have not been perceived as a great success,...
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