The Bank of England’s 2023/24 report outlines significant activities related to banknotes, payments and digital currency. Banknote value and volume in circulation was flat but net seigniorage income was up 153%. The Bank continues to make progress on its net zero carbon goals.

An article about the challenges of public transport digital ticketing lays out the general problems of going digital.

Currency Research has launched the AI Bootcamp, facilitated by The Centre for Alternative Finance at the University of Cambridge Judge Business School, which will explore AI tools and strategies for revolutionising supervisory innovation, with practical insights and a tailored roadmap for AI adoption.

McKinsey’s has published a list of the top 15 tech trends to follow. Chris Skinner, an independent commentator on the financial markets and an author, highlighted this recently in his blog, TheFinanser.com.

The Cash Cycle Seminars (ICCOS) are annual events from Currency Research (CR) that bring global knowledge to regional markets in the Americas, Asia, and EMEA.

The International Monetary Fund (IMF) has issued a paper considering the security of Central Bank Digital Currency (CBDC). While there are frequent papers covering CBDCs and design features affecting privacy, financial inclusion, and the impact on monetary policy, it is rare for security to be covered. The paper lays out why and how a CBDC is different from existing digital payments and reviews the risks they face.

A recent blog by Sam Bobeov and Fintech Wrap on Payment : Unpacked asked who gets left behind in a cashless world.

The UK’s Competition Appeals Tribunal has rejected an appeal by Visa and Mastercard against a class action that claimed that businesses that received payments by commercial cards paid fees much higher than they should have been, causing them significant losses.

In June and September 2023, the International Monetary Fund (IMF) provided support to the Banco Central de la República Dominicana (BCRD) to explore CBDC.

A recent article in Forbes makes the case for Self-Sovereign Decentralised Identity to be used to address privacy issues with CBDCs.

The fifth edition of the Global Fintech Fest (GFF) 2024 was held 28-30 August in Mumbai. It focused on the ‘Blueprint for the Next Decade of Finance: Responsible AI, Inclusive, Resilient’. The GFF is organised by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC).

Those who oppose CBDC use a range of arguments. One is a general argument that fiat money allows governments to expand the money supply at will, removing the constraint on government to pursue ‘sound money’.

The ‘Privacy Paradox’ is where people claim more concern with privacy than their actual behaviour indicates. This ‘say-do gap’ exists in many areas, including the need for cash to be maintained, but despite that, it means organisations are forced to respond.

At the recent Cash Sustainability Forum in Frankfurt, Cash InfraPro presented on the challenges and opportunities of making the cash supply chain work well.

The World Economic Forum has recently published an article describing Colombia’s work to create Digital Public Infrastructure (DPI), a key element of which is interoperable digital payments.

The CBDC Conference takes place 10- 12 September in Istanbul. One recently announced element of the agenda is a Governor’s panel chaired by John Ho, Standard Chartered.

As a worldwide partner to the Paris 2024 Olympic and Paralympic Games, Visa has a monopoly on all debit, credit and mobile payments. Spectators are venting their frustration. Paradoxically, the campaign demonstrates the importance of cash in terms of inclusion, protection of privacy and resilience.

August is one of those months where much of the world slows down, particularly in the northern hemisphere, creating an opportunity for a more reflective piece. As a result, this edition spends some time looking to the future.

The Bank of Canada has issued a staff discussion paper considering the role of retail public money at a time when new technology and new participants, some non-financial firms, are entering the process of money creation.

Revolut has recently received a UK banking licence. It has 9 million UK customers, 45 million globally. It has now announced that those customers can deposit cash into their accounts.