Blockchain

I look forward to seeing digital currencies brighten up our antiquated banking infrastructure and embrace the global move toward e-commerce. For now, though, I’m not holding my breath, says T1 Payments' Donald Kasdon.

Several government agencies have made deeper moves into crypto oversight, leaving a trail of angry executives and unresolved political questions. And there's still no sign of a central bank digital currency, leaving the U.S. at risk of falling behind other countries in the race to support faster payment processing.

The digital currency and related distributed-ledger technologies could "enhance the efficiency, effectiveness and stability of the provision of payments," according to an interpretive letter issued by the Office of the Comptroller of the Currency.

Silvergate and Avanti are among the banks pioneering the incorporation of smart contracts, cryptocurrencies and other cutting-edge instruments into mainstream financial services.

It's important to consider difference uses and types of blockchains based on need and project management strategy for financial and payment technology, says Worldline's Hubert Marteau.

Fidelity Digital Assets will allow its institutional customers to pledge bitcoin as collateral against cash loans in a partnership with blockchain startup BlockFi.

E-commerce and digital finance are expanding quickly due to the pandemic, economic downturn and plans for recovery — providing opportunities for VCs that back technology that powers faster, more digital payments.

By allowing access to public chains, CBDCs could render much greater, and even revolutionary, functionality, says Cypherium's Sky Guo.

High profile companies like Facebook, Square and PayPal have brought attention to using cryptocurrency for payments — but speed is more important than buzz in getting stores to view crypto as tender, according to a group of developers who are building connections to merchants.

For years, business models based around micropayments have been touted as an alternative to advertising, offering a new form of revenue for all kinds of content creators, enabling users to pay for the exact quantity of services they consume. They have even been suggested as a way to create alternative insurance products, for example forms of car insurance where drivers pay per journey.