Welcome to Finextra. We use cookies to help us to deliver our services. We'll assume you're ok with this, but you may change your preferences at our Cookie Centre.
Please read our Privacy Policy.

Accept
Channels
Profile
Location
London
Member since
2009
Writes about
Payments Regulation & Compliance Retail banking Cryptocurrency

Jeremy's blog archive

2022 (1) 2021 (1) 2020 (5) 2019 (2) 2018 (7) 2017 (7) 2016 (8) 2015 (6)
Jeremy Light

Jeremy Light

Co-founder at pingNpay
Message Message me Posts: 37 Comments: 77
Bio Building pingNpay, web 3.0's next generation global micropayments network. Co-founder of Fourdotzero, a payments, market intelligence and technology company. Payments to fuel the Fourth Industrial Revolution Career History pingNpay September 2021 to present Fourdotzero November 2020 to present Ripple April 2018 - October 2020 Accenture until Feb 2018

Blogs

Blockchain in Banking and Financial Services

The Risks to Society of Central Bank Digital Currencies

17 Jan 2022

There is much written about CBDCs but little on the risks to society a CBDC would create. I see these risks falling into three categories: 1. economic 2. financial 3. human rights Economic Risks The key economic risk is inflation. A CBDC can be created at the press of a button and distributed widely, inflating the money supply without any correspon...

Blockchain in Banking and Financial Services

Bitcoin at 50,000 USD

18 Feb 2021

Bitcoin at 50k USD In March 2018 I posted a Finextra blog “Bitcoin at 50,000 USD”. It was framed as a scenario rather than a prediction and I observed that no-one could possibly know with any certainty what would happen next with Bitcoin. However, the objective of the blog was to examine what Bitcoin and the crypto landscape would look like should...

1

The Payments Business

Big Brother is Watching You - Payment Systems, Surveillance Systems, Control Systems

29 Sep 2020

1230 words, 4:50 min read An Orwellian Dystopia As more and more payments become digital, a key question for payment systems architects is how to preserve the privacy of their users. Without privacy, payments systems risk becoming surveillance systems for government agencies and for corporations. In turn these can be extended into control systems ...

Blockchain in Banking and Financial Services

The Future of Money and Payments

08 Sep 2020

1200 words, 4.5 minute read Central bank balance sheets are ballooning the world over, and in parallel, adoption of shared ledgers using blockchain is accelerating. These major shifts indicate the global architecture for money and payments is on the cusp of structural change. Blockchain analysis and debate are dominated by a focus on cryptocurrenci...

See all Jeremy's blogs

Jeremy is Commenting on

UK's cashless transition under the microscope as Payments Choice Alliance pushes back

  cash is the only truly inclusive financial instrument. A cashless society and financial inclusion are a contradiction. Anything that requires owning a device or registering credentials creates an immediate barrier and a vector for financial exclusion. Digital payments are great but it is best to avoid any policies that promote or discourage cash and let the market i.e.society decide.

13 May 2023 Reply Read article

Merchants should be obliged to accept digital euro - ECB's Panetta

  This is policy trumping free markets. CBDCs such as the digital Euro are as much a new payment system as they are a new form of money. There are two approaches to introducing a new payment system - by dictat or by free markets. If a CBDC is introduced by dictat, it is hardly a 'public good', more an imposition. Especially with the statement a digital euro makes 'European payments more resilient, enhancing competition and reducing costs'. This sounds great and pro-free markets but it is just propaganda without real evidence of market demand and market-driven problem solving and solutions. The reality is introducing new payment systems for ubiquitous use is hard, very hard. Policy is unlikely to get it right by imposition.  Instead, policy should be an enabler for the free markets - create a CBDC by all means, preferably wholesale so it can be used as a new form of settlement collateral instead of reserves, but allow private enterprise to innovate with it, sinking or swimming on their ability to meet the market needs. Otherwise, policy will just sink.  

25 Apr 2023 Reply Read article

Central banks see future for global instant payments via mobile phones

  meanwhile the UK closes down its mobile payments system Paym due to lack of interest (from the baking industry)...

24 Mar 2023 Reply Read article

UK open banking users swell to seven million

  A more interesting metric from the OBIE is 8.45m successful OB payments in Jan 23. This is 121% higher than Jan 22, while the total for the year in 2022 (68m payments) is 171% higher than 2021 (25m payments). OB payments are demonstrating a sustained trajectory at a growth rate suggesting a billion or more OB payments in 2025. At this point, if other payment innovations are a guide such as contactless cards, the U.K. FS industry will take notice, with many saying “we failed to see that coming”. In contrast, the PISPs already driving and riding this growth will be sitting pretty.

21 Feb 2023 Reply Read article