What's New in Payments

Visa files central bank digital currency ecosystem patent

Visa digital currency diagram for patent

Visa has filed an application for a patent that sets out a way for a central bank to take fiat money that is currently in circulation, digitize it, remove the converted physical currency from circulation and then enable consumers and merchants to conduct transactions using a digital wallet “stored on a chip of a smartcard or a secure element of a user device”... More



What's New in Payments

Facebook scales back its digital currency plans

Facebook-backed Libra cryptocurrency project is scaled back — The New York Times — “The Libra project will now focus on creating a more traditional payment network in which coins will be tied to a local currency, somewhat like the digital dollars in a PayPal account. While Libra will also have a coin backed by multiple national currencies, which was the focus of the initial design documents, that will be less prominent.”





NFC World

ST explains how NFC can be combined with blockchain technology to deliver smarter supply chains

Covershot: Smarter end-to-end supply chains: Combining blockchain and NFC/RFID technologies

KNOWLEDGE CENTRE: Combining NFC and RFID tags with blockchain technology makes it possible to create secure, end-to-end global supply chains that eliminate the risk of counterfeit goods entering the system, reduce management complexity and increase transparency, STMicroelectronics explains in a new white paper now available to download from the NFCW Knowledge Centre... More


Lancashire Cricket puts mobile tickets on the blockchain

Lancashire Cricket becomes first organisation to activate blockchain secure ticketing — Lancashire Cricket — “Lancashire Cricket is leading the way in ticketing technology after becoming the first organisation in the UK, in any industry, to activate blockchain secure mobile tickets for all domestic and international fixtures at Emirates Old Trafford in 2020. The club will be using TIXnGO, a new blockchain mobile tickets platform, after successful trials took place during the 2019 season.”








What's New in Payments

Payments networks to drop support for Facebook’s Libra digital currency?

Visa, Mastercard, others reconsider involvement in Facebook’s Libra network — The Wall Street Journal — “Visa Inc, Mastercard Inc and other financial partners that signed on to help build and maintain the Libra payments network are reconsidering their involvement following a backlash from US and European government officials, according to people familiar with the matter.”




Sierra Leone puts national ID cards on the blockchain

President Dr Julius Maada Bio

The government of Sierra Leone is to introduce a blockchain-based national identity system at the end of this year, enabling citizens to “grant access to approved institutions to assert and verify identity and also build credit histories,” the country’s president has announced... More