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The crypto-currency was dead on arrival was what I always thought; apart from speculative use cases, the real proposition to switch customer adoption to this currency form apart from other compliance reasons, there was no way that a crypto could make it. However, while CBDC will definitely come by and will compound the complexity and complexity in the beautiful world of payments

I think the comment about information exchange is absolutely important. Not many of the banks (who are challenged by cybersecurity threats) exchange information within the banking community, which can make other players vulnerable, the industry and the consumer/business community at risk. First, there must be a consortium set up (and possibly headed by the payments council) to exchange threat intelligence, and secondly, financial service players must invest in newer technologies that can predict emerging forms of threat and mitigate against them. Of course this calls for significant investments, but this becomes inevitable as we the global economy moves into the digital age, where dyanmic data becomes the main source for identifying and protecting our customers.

That is right. Disruptions in financial services is already heated up and it is great to see traditional financial service players partnering with Fintech players and form this consortium to innovate. I have not seen this over my two decades of experience in this industry and it is great to see some of the large banks teaming up to shape the new world of payments.