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@Philip Andreae, 2050 is very ambitious isn't it? When quantum computing, 5G and other truly new technology will rise up between here and 2025, even predicting 2030 is going to be hard. 

But OK, not impossible either of course. They have smart people to do so.

Melvin, can you tell me how much of the 2% interest fee is left of a mortgage loan, when producing this with assets of a current account, taking into account the capital requirements for these products?

I know, my blog was referring to SCTinst ;)

Good point, although SCTinst is not exactly Faster Payments, I should have added it on the list. On the other hand I didn't add quite a lot of other countries either, because that would take me weeks to analyse, translate and compare ;).

That is true as well in fact! Customer education is what is needed concerning the myths on the security aspects of the card. Merchants can of course also help in stimulating this kind of payments

I guess you are right. I just wanted to make the point that cash also requires middle men, not in the payments process, but you do need them in the complete E2E process. 

But I get your point.

I understand what you mean, and indeed if you simply talk about the exchange of value: no middleman. I think that is a rather narrow approach, since the whole process goes a lot further. 

It is not just about the exchange of value for a business, it is about the purchase process, in which the payments itself is only a small element. The end-to-end process is important here and that also means: cash registry, bank (?), accountancy...

I don't see how cash does not need a middle man in business, unless one is willing to take the risk of safekeeping all the cash at home for future costs and purchases. So once a business is getting a reasonable scale that allows to look a few weeks/months in the future I don't see how to avoid the middle man, even with cash in the buying life cycle

Isn't this exaclty what Regtech is all about, at least part of it? Finding new technologies to reduce the effort and streamline processes of risk and compliance for the sake of customers.

Doesn't sound too secure to me, with the ease of hacking social media tools for example. I might be a bit too sceptical, but still...