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Everytime regulators are on the verge of clamping down on something, I see a lot of people with vested interest pushback primarily basis innovation. Nothing wrong about shilling one's product or service but, AFAIK, innovation is not an OKR of regulators, so I wonder how well this tactic will work.

A asks B to block certain blockchain addresses. If B is powerful enough, s/he can unilaterally decline or accede to A's request. 

I'm guessing crypto maxis won't let such facts come in the way of their claim that crypto is decentralized and censorship-resistant.

Blockchain - Calling BS On Decentralization And Resilience.

#GoFigure

Bitcoin is the most profitable asset class in history. But that shouldn't stop people who didn't profit from it and don't want others to either from calling for its ban. 

ICYMI, VC-backed firms work differently from traditional businesses: On the same day that Klarna announced record losses, its valuation also went up from $40B to $60B.

AirBnB, Uber et al didn't go out of the way to comply even with prevailing hotel and taxi industry regulations. If and when BNPL gets regulated, BNPL lenders will do whatever is required - but not in anticipation. 

Fintechs Need Guts More Than Lawyers.

VC-backed BNPLs don't need to care so much about profits as banks, ergo they don't need to bother so much about credit risk as banks. BNPLs can't follow the same rules as Banks and win.

To paraphrase what Reid Hoffman, PayPal CoFounder and LinkedIn Founder once said, if he had known about credit card chargeback rules, he wouldn't have sleepwalked into PayPal. That sleepwalk turned out okay, didn't it?

Affirm, Klarna and other leading BNPLs don't need income data, at least not via bank account. Nor do they use FICO / conventional credit score. Why would they need Open Banking / AISP / Credit Bureau?

Click payslip, upload pic, run OCR, that's it. BNPL can verify income in minutes if it's really interested in giving loans in realtime, as BNPLs are. I don't see why it would take weeks? 

Sorry but this sounds like a contrived solution for a non-existing problem.

I'm guessing that any new international financial system would require system, OS, RDBMS, Hosting, Server, Storage, Network, Security, etc.

Any suggestions on how to put an end to American dominance on all that stuff?

Is it only me or is "challenges of underwriting a massive inflow of new customers" a euphemism for loan delinquency?

There are many reasons why silos formed and still exist e.g. Dunbar effect, intracompany competition, Chinese Wall between SBUs, customer privacy concerns, different priorities and timescales for different IT projects, etc. While lack of operating efficiency is certainly a downside of silos, I don't see it outweighing the many benefits of silos. 

BNPL is an alternative to Credit Card. I'm not sure if your claim that it costs 3-7% *on top of normal credit card processing fees* is validated by reality.

@FinextraMember: Did you know that a Deutsche Bank whistleblower got a $200M reward? (Source)