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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 the...
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A recent offer in the realm of Decentralised Finance (DeFi) caught our attention...
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The 2021 edition of Euroforum’s annual conference on the future of payments (‘Toekomst van het Betalingsverkeer’) – which took place in Amsterdam’s Beurs van Berlage on 9 September and was actually held as a physical event rather than a virtual one – attracted over 200 attendees. INNOPAY’s Josje Fiolet was among them, and she has written ...
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The crypto evolution – or is it a revolution? – is challenging the status quo of...
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To access to an extended paper which expands on the concepts introduced here, click the link at the end of this blog to download 'Establishing the trust anchor in the digital economy: the case for banks to become 'Data Custodians'. The original article was initially published in the Journal of Payments Strategy & Systems (peer-reviewe...
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The current financial system will undergo fundamental change over the coming dec...
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The relationship between a retailer and its customer is driven by three importan...
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Widely regarded as the more respectable face of crypto, stablecoins are poised to become an integral part of the financial system’s future. With their ability to stabilise prices and in conjunction with harmonised regulations, stablecoins hold the promise of improving access to financial services. During EBAday 2020 in November, Josje Fio...
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Over the last five years, most payment innovations have focused on improving cus...
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A much-discussed (and much-hyped) topic among central banks is the issuing of currency in a digitalised form: a Central Bank Digital Currency (CBDC). It is claimed that CBDCs could have a significant impact on the payment infrastructure and ecosystem because they could change the rules of the game. However, the various existing CBDC imple...
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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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The EU’s fifth Anti Money Laundering Directive (AMLD5) urged the adjustment of the implementation rules of the Wwft (the Dutch Prevention of Money Laundering and Terrorist Financing Act)[1]. In this context, the Wwft has been amended accordingly. The new legislation has come into effect in the Netherlands on 21 May this year.As highlighte...
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