Profile

Location

London

Member since

2009

Writes about

Payments Regulation & Compliance Retail banking Cryptocurrency Predictions

Jeremy's blog archive

2024 (1) 2022 (1) 2021 (1) 2020 (5) 2019 (2) 2018 (7) 2017 (7) 2016 (8) 2015 (6)

Jeremy Light

Co-founder at Fourdotzero

Message Posts: 38 Comments: 100

Bio Co-founder of Fourdotzero, a payments network, market intelligence and technology company. Payments to fuel the Fourth Industrial Revolution Career History Fourdotzero November 2020 to present Ripple April 2018 - October 2020 Accenture until Feb 2018

Blogs

Open Banking

UK Open Banking Payments in 2024

09 Jan 2024

A year ago, I believed UK Open Banking payments were on a roll. Total payment initiations for 2022 were 68 million payments, an increase of 171% over 2021, showing a strong foundation for Open Banking. At this rate, I believed 1bn payments a year could be reached in 2025, a level where Open Banking would be firmly established in the UK payments la...

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...

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 ...

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Jeremy is Commenting on

Revolut soars to record profit

Remarkable results - the annual report shows 590m monthly transactions as of Dec 23, up 73% on the previous year. This is a true indicator that Revolut is loved by its customers - "every transaction is a customer interaction".

02 Jul 2024 Reply Read article

APIs and Microservices in Financial Infrastructure: Benefits and Challenges

For external APIs, stability is critical - technically and commercially. When companies build software embedding third-party APIs, any changes to an API can cause havoc with their software and the product/service using it. Often, it is better for your customers to build an additional API than change an existing one.

01 Jul 2024 Reply Read article

Wholesale, not retail, CBDCs more likely to be issued in near-term - BIS

It is inevitable that central banks will shift their focus to wholesale CBDCs - there are some genuine benefits and innovations in replacing/complementing RTGSs for transacting in reserves. Unlike retail CBDCs where central banks have no expertise in retail payments and face huge public resistance on privacy and censorship concerns that look impossible to address. However, stablecoins are likely to be hugely beneficial drivers of innovation in retail and commercial payments. Although stablecoins use secure blockchains, in reality they are very different to crypto, as they are simply tokenised fiat currency and can be used as a means of exchange just like paper or electronic fiat currency. The BIS is a fan of asset tokenisation (https://www.bis.org/speeches/sp240209.htm) although seems to suggest that price fluctuations in stablecoins rule them out as a suitable way to tokenise fiat currency. However, e-money is a form of tokenised fiat currency and has been in successful widespread use for decades - designed properly, stablecoins have huge potential. It is also a misconception that stablecoins are rarely used for payments. It is true their genesis and major use is in the trading of non-fiat cryptocurrencies on crypto-exchanges, but their use in payments is growing and this will continue in leaps and bounds. Checkout Circle's website for examples https://www.circle.com/en/case-studies. Better still, try it for yourself - sending a dollar payment cross-border using, say USDC is a delight compared to using the banking system. Almost immediate settlement, low fees and a FX rate at the wholesale rate (very little, if any spread).

19 Jun 2024 Reply Read article

Walmart introduces digital shelf labels to 2,300 stores

I expect this also could be used for dynamic pricing during the day, including surge pricing, to vary prices with demand and clear expiring items, to maximise revenue and profit.

14 Jun 2024 Reply Read article