Article: Digital Currency: The Future Of Your Money

Money, Open Governance, Standards

Digital Currency: The Future Of Your Money

Digital currency has the potential to completely change how society thinks about money. The rise of Bitcoin, Ethereum and thousands of other cryptocurrencies that exist only in electronic form has led global central banks to research how national digital currencies might work.

Digital currency is any currency that’s available exclusively in electronic form. Electronic versions of currency already predominate most countries’ financial systems. In the U.S., for instance, the physical U.S. currency in circulation is only about one-tenth of the overall money supply; the remainder is held in various bank deposits in electronic form.

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Article: European Fintech Tink Announces Open Bank Tech Collaboration With Tribe

Money, Open Governance

European Fintech Tink Announces Open Bank Tech Collaboration With Tribe

Tink, a Sweden-based fintech that provides APIs to create next-generation banking services, announced earlier this week it has formed a new partnership with payments technology provider Tribe. According to Tink, the partnership will enable Tribe to combine its issuer and acquirer services, with payment initiation services (PIS), and account information services (AIS), all powered by Tink.

“Through Tribe’s technology platform, its UK customers now have seamless access to traditional payment methods alongside open banking payments – with AIS services to follow. Through its issuer and acquirer processing platform, ISAAC, Tribe uses the latest technology to enable banks, fintechs and acquirers to choose the payments modules that suit them.”

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Article: Why open banking APIs are so different

Money, Open Governance

Why open banking APIs are so different

Open banking comes with a lot of expectations and promises, such as democratization of Access to Account (X2A), increased competition between banks and fintech’s, and provision of better control to end-customers over their financial data and payments.

To facilitate the adoption of open banking, several API standards incentives were created including Open Banking UK, Berlin Group, STET in France, Polish API, CDR in Australia, and so on. Also, a process of collaboration between API groups has been initiated. However, in the real world of open banking, APIs’ consumers, including fintech’s and banks themselves, have faced a lot of challenges while integrating those APIs into unified product propositions. Why? Because APIs are so different.

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Article: Open Banking: What It Means for Your Privacy and Convenience

Money, Open Governance

Open Banking: What It Means for Your Privacy and Convenience

At this point in your life as a consumer, you’re accustomed to having less privacy than you used to. Technology makes your life easier in myriad ways, but also far less private.

Your financial life is no exception. In the fintech industry, where financial services intersect with technology, new products roll out all the time — from robo-advisors that oversee your investment portfolios for nominal fees to third-party payment services like PayPal, Venmo and Zelle. Open banking is one of the trends making such innovation possible.

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Legal Notice: Letter to PayPal CEO As Delivered

Letter

OFFICIAL LETTER with Letterhead: PayPal Letter Final

Dear Mr. Schulman,

As of the first minute of April 16, 2021 PayPal terminated my client, Robert David Steele, by terminating the PayPal account of Earth Intelligence Network, a 501c3 educational corporation in good standing with the IRS and also the recipient of a Gold Star transparency award from Guidestar, a leading evaluator of non-profit endeavor competency and integrity. A copy of the termination letter is attached.

Article: What’s next for Open Banking?

Money, Open Governance

What’s next for Open Banking?

Appetite for “Open Banking”, where consumers allow third-party providers to use the financial information held by their bank to inform new products, is growing; Progress in the sector differs by region, but demand for and use of Open Banking services has been further expedited by the COVID-19 pandemic;

To make Open Banking successful and sustainable, however, more banks need to embrace an end-to-end digital architecture. In recent years, technology has facilitated a progressive opening up of the banking industry. It has ushered in an era of collaboration not just competition between incumbent banks and fintech.

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Article: Open-source AsyncAPI Initiative to be hosted by the Linux Foundation

API, Open Infrastructure, Open Source

Open-source AsyncAPI Initiative to be hosted by the Linux Foundation

The Linux Foundation said today that it has agreed to host a promising open-source project known as the AsyncAPI Initiative that has already been put to use by several big enterprise technology firms.

The AsyncAPI Initiative includes both a specification and a set of open-source tools that are designed to work with asynchronous application programming interfaces and event-driven architectures, the foundation said.

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Article: Y Combinator-backed Vue Storefront aims to be the ‘glue’ for e-commerce

Code, Open Software, Open Source

Y Combinator-backed Vue Storefront aims to be the ‘glue’ for e-commerce

“Headless commerce” is a phrase that gets thrown around lot (I’ve typed it several times today already), but Vue Storefront CEO Patrick Friday has an especially vivid way of using the concept to illustrate his startup’s place in the broader ecosystem.

“Vue Storefront is the bodiless front end,” Friday said. “We are the walking head.” In other words, while most headless commerce companies are focused on creating back-end infrastructure, Vue powers the front end, namely the progressive web applications with which consumers actually interact. The company describes itself as “the lightning-fast front-end platform for headless commerce.”

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Article: Trust The Technology: Decentralized Finance Drives Birth Of New Internet Credit Markets

Money, Open Governance, Open Source, Standards

Trust The Technology: Decentralized Finance Drives Birth Of New Internet Credit Markets

Imagine a world in which moving money is as easy as sending an email or a text message, without an institution as the intermediary or a regulator as the watchdog. As Circle CEO Jeremy Allaire told Karen Webster, it’s a world that exists today mostly for institutional investors and savvy crypto traders who have embraced the decentralized finance (DeFi) ethos — the power of software, programmable contracts and blockchain infrastructure — to create the cornerstone for a new, accessible, internet-based credit market.

According to Allaire, the combination of DeFi and CeFi — blockchain-powered payments that provide a regulated intermediary for those with a different appetite for risk — will be a critical trend to watch as the intersection of FinTechs, blockchain-based payments and finance platforms promise to bring financial services to the masses, globally and at scale.

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