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
LG CNS is piloting a new payments solution that combines face recognition, a blockchain-based digital currency and AI technology to let shoppers enter an unmanned store, shop and check out — without needing to come into close contact with either employees or POS equipment... More
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.”
The Central Bank of The Bahamas has extended its central bank digital currency pilot to the island of Abaco and revealed that the new Sand Dollar currency will include support for offline functionality... More
Customers of a US carrier have used a mobile payment app to bill purchases made at a merchant in Taiwan to their mobile phone account, a consortium of companies developing a blockchain-based carrier billing system has announced... More
Sweden’s central bank The Riksbank has begun testing a digital currency designed to enable consumers to store an electronic version of the Swedish krona in a digital wallet and make payments, deposits and withdrawals using a mobile app... More
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 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.”
A family-run vineyard in Italy has become the first in Europe to use NFC-equipped screw caps on its bottles to protect buyers from counterfeit wines... More
The World Economic Forum has released a Policy-Maker Toolkit for central bank digital currencies (CBDCs), designed “to help central banks evaluate, design and potentially deploy CBDC”... More
Consumers purchasing premium Sicilian blood oranges will be able to track the provenance of the product using a new system that combines NFC tags and sensors placed on each box of oranges with a blockchain-based tracking system... More
The Government of Madeira is to issue biometric cards containing an in-built fingerprint sensor to 3,400 of its citizens for the pilot test of Smart Island, a decentralized digital identity project encompassing 12 education, healthcare, port security, transport, payments, tourism and government services... More
Visa, Mastercard, eBay, Stripe and Mercado Pago have followed PayPal in pulling out of Facebook’s Libra cryptocurrency project. The moves mean that PayU is now the only payments company to still be listed as a founding member of the Libra Association. More
Madrid public transportation operator EMT has announced plans to run two next-generation transportation payments pilots... More
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.”
PARTNER NEWS: “By adding transparency, security, and traceability, blockchain can make supply chains faster and more efficient, especially when originality and provenance are key concerns,” NXP explains in a new blog post... More
Mastercard has announced it is to work with blockchain specialist R3 “to develop and pilot a new blockchain-enabled cross-border payments solution that will initially focus on connecting global faster payments infrastructures, schemes and banks supported by a clearing and settlement network operated by Mastercard”... More
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
Daimler Trucks has announced the successful completion of a proof-of-concept pilot of Truck Wallet, a machine-to-machine (M2M) payments service designed to enable vehicles to automatically pay for road tolls, electric charging and other services — without involving or interacting with the driver... More
Chinese buyers of premium wines are now able to verify the authenticity of their purchase using the Wine Traceability Platform (WTP), a blockchain-based NFC service designed to protect Chinese consumers against the growing problem of fake wines... More
