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Its agreat shame that Microsoft hasnt followed the SSI prinicples regarding its inplementation, if it had, then privacy would have been key. In addition, the centralised nature of AD also causes issues - but if its a way of using verifiable credentials and link them back to your more traditional AD approach - then that is a good thing...Its all dependent on the real world usecase.

I am not sure the limit should be raised. No doubt this will lead to greater levels of fraud, in terms of value if not numbers. I have no idea why, if we want the limit to be raised and that frictionless experience, we simply do not push more mobile wallet type of adoption. There we have SCA because the phone was unlocked / wallet using some form of additional auth, more often than not biometrics. This is far more secure and should have no limit.....

Wow, had this working back in 2011.....The user experience is OK, but the scanning friction caused a number of challenges. Tech has moved on now, so i believe that is largely solved, so why opt for a QR code???? 

Initiatives such as confirmation of payee are nothing more than a plaster over the issue. 

KYC needs to be discussed, but that is easy to get around - somethign card schemes have known for a very long time - and they used to address directly. 

The real issue comes from identity and identification of payment flows. Almost always push fraud is complete because the scammer looks geniune enough. However, if payments moved to a verifiable identity paying another verifiable identity basis - then this fraud would be stopped almost completely as the scammer wouldnt have the cryptographic control of who they claim to be. 

Initiatives like confirmation of payee have taken a lot of money, time and effort to get into the marketplace, however their effectiveness will be short lived (if at all based on these figures). We need to stop thinking of short term fixes and tackle such systemic issues directly.

We need to be thinking Open Finance for sure, but the control must be via the consumer, they must be at the centre of everything. That means you dont give an access token to a business, no rather you should be holding those tokens and pulling that data in to be shared, not direct sharing.

We also need to kill off this concept of direct APIs, rather we need to be moving to a pub/sub event pattern model.

Kill APIs if we want Open Finance – FinTechAndrew – The blog (wordpress.com)

This is no surprise at all. The case for CBDC can often be knocked down by solving the actual areas of friction. This is yet another example of where CBDC arent required, and yet DLT could be used to solve specific technical challenges.....

Wow, thats a vast sum of cash for something that others have shown to have already solved already....

Errmmm most smart watches do this now... Are they really going to compete with an Apple watch?

Philippe you're totally right, that agile culture needs to make its way into the boardroom, and I think that is only possible in many circumstances by brining in new blood.

This is not a surprise at all. I am shocked though that it is believed that "coaching" boards members to help provide them with technology experitse is a real option. Unfortuntately many of these concepts such as cloud, AI and IoT need more than a "skim" read of detail to understand and therefore make decisions about. Just because you are aware of these technologies and some of the use cases, it doesnt mean you are able to understand the ramifications / opportunities that these technologies provide. This is primarily because you dont fully understand them but also that lack of understanding makes it increasingly hard to see the application within your own business and therefore the potential they have. 

Not surprised though that its suggessted that banks rely on independent third parties. This is something many boards depend upon due to the lack of the right skills at that level.