|
|
August 24 · Issue #70 · View online
A weekly summary of the latest news in our world of finance, design, and technology.
|
|
Also:
- đŽ The future of payments
- â ď¸ Bankid as a disadvantage?
- â Onlyfans stopped by payment processors
- đ¤ˇââď¸ How to enter the mind of your customer
- đ Business insider
|
|
|
|
|
Another hot topic for payments is Digital wallets. The movement has been slow, but digital wallet adoption is surging. Vipps is trying to take a position here outside of Norway. Stefan Astroza and Elisabeth Solberg from Cicero are commenting that The chances of finally exporting Norwegian financial technology to the world have never been greaterÂť. Iâm also noting that they are happy that Vipps main focus seems to be on its core business - rather than testing experimental ventures in entirely new industries. The question is when they are trashing their mobile subscription? Iâm guessing itâs gone by this time next year.
|
|
âSweden will probably be [âŚ] ignoring the megatrend towards a decentralized, self-sovereign, ID layer. Meanwhile, communities and nations without a Bank-ID-type solution will leapfrog onto the solutions powered by blockchain. [âŚ] Early success can be fatal in the long run.â Future report 2021
|
|
Who would have thought that a newsletter on Fintech would cover Onlyfans and sexually explicit content? Well⌠OnlyFans, the website best known for its adult videos and photos creators, will prohibit sexually explicit content starting October 1st. The reason is pressure from its banking and payment provider partners. Mastercard is the most proactive in this regard, and several payment processors are waiting to see how Mastercardâs policies fare.
|
|
NFTs have been all the rage on my part of the internet the last few months. We covered it in February and since everyone from Louis Vuitton to Disney and Visa (?!?) has jumped onto the ship. To recap: When you buy an NFT, you more or less obtain bragging rights for this artwork on the blockchain. The original file can only exist in one edition, and the blockchain record proves who owns this original. However, you donât own the usage rights of the work (unless itâs specified in the NFT-contract), and the link to the original file could eventually become a costly 404 error. So why are people still buying an image of a rock for over $250 000?
|
You are looking at rocks currently valued at above $10m in total
|
Worth $7 600 000? đ¤Ż
|
The answer might be that NFTs bring status signaling and social capital online at a global scale. You are signaling that you are in the group that knows. The same way you are in the group that knows when you buy a special kind of watch. That doesnât mean that the watch doesnât have great value. A mechanical clock is undoubtedly a marvel of engineering, but creating 10 000 unique crypto punks is also kind of a marvel of engineering. Another reason might be that this is a new speculative asset where human psychology is all that matters. In other words, people are getting paid for knowing whatâs soon-to-be cool. There might be an investment upside for some, but in my mind buying a jpeg of a crypto-punk for millions of dollars still seems batshit crazy⌠(considering every designer, know that this should have been exported as a png or gif! đ)
|
|
Realising that nobody cares about you as soon as possible is the best thing you can do for your product.
|
|
|
If youâre having trouble getting press for your company, just link to random Business Insider articles on Twitter and say:
âWow, so honored!!! Thanks for the incredible mention!â
Itâs all paywalled and Iâve never met anyone with a subscription.
Youâll never get called out.
|
|
|
|
Remember, if youâre enjoying this content, please do tell all your (fintech) friends to hit the subscribe button!
|
Did you enjoy this issue?
|
|
|
|
In order to unsubscribe, click here.
If you were forwarded this newsletter and you like it, you can subscribe here.
|
|
Thormøhlensgate 53C, 5006 Bergen
|