Opinions

The time has come for payment incumbents to increasingly depend on the cloud for more production applications and emerging technologies and choose platforms, partners and tools that will turn them into butterflies rather than fast caterpillars, writes Stephan Fabel, director of product at Canonical.

It creates an auditable, distributed ledger of transactions that cannot be altered or removed, enabling transactions that are valid, authentic, trustworthy and immutable, according to David Uhryniak, a blockchain services leader at Crowe LLP, and Brian T. Zygmunt, a partner with Crowe LLP.

While most early GDPR fines have been relatively low, a larger more recent fine at Google is a sign of larger levies to come, according to Karen Neuman and Federica De Santis from the privacy and cyber security practice at Goodwin.

Whether they process cards, bank accounts, cash, or whatever comes next, digital payment systems must be reliable, flexible and ever-advancing, writes Michael Kaplan, chief revenue officer at PayNearMe.

When a cryptocurrency exchange is unregulated, you need to investigate its security practices yourself, writes Phillips Nizer LLP's Patrick Burke.

With real-time payments advancing, processors need to shore up security, according to David Worthington, vice president of payments at Rambus.

Unauthorized exposure of any type of customer data, for any period of time, is a serious issue, writes Carl Wright, chief commercial officer of AttackIQ.

The future of payment is already drastically affecting the retail industry. While retailers will need to adapt their digital strategy yet again, this shift in consumer trends presents yet another opportunity for success, Steve Davidson, vice president of warranty products for Fortegra.

There is a fundamental irony in the “blockchain, not crypto” position espoused by traditional financiers and business professionals. They encourage those entering the space to widen their view of these new protocols beyond their speculative monetary values in favor of real-world use cases of the technology, writes Sky Guo, CEO of Crypherium.

With the backing of these establishments and Federal Deposit Insurance Corporation (FDIC) protections, the cloud of uncertainty surrounding cryptocurrencies will begin to lift, writes Eric Solis, founder and CEO of MovoCash.