2012-07-18 itwire.com - Online currencies and mobile payments spook regulators

[julz]

Online currencies and mobile payments spook regulators

Beverley Head
2012-07-18

http://www.itwire.com/business-it-news/networking/55779-online-currencies-and-mobile-payments-spook-regulators



Banks and regulators have been warned of a major rift that is emerging in the payments landscape, spurred by rapid smartphone adoption and the growing acceptance of complementary global currencies which fall outside traditional sovereign government regulatory frameworks.

A new Deloitte report: The future of exchanging value, uncovering new ways of spending, examines how new payments models and alternative online currencies are already taking hold and canvasses the threats they pose to traditional payments players.

see report here: http://www.deloitte.com/assets/Dcom-Australia/Local%20Assets/Documents/news-research/Deloitte_The_future_of_exchanging_value_19_07_2012.pdf

Today Facebook Credits, Bitcoin and even loyalty or reward credits are emerging as complementary currencies that can be used to purchase online, ore real world goods and services.

I thought facebook was ditching its credits system.. but they seem to be mentioned in the underlying deloitte report as if they're an ongoing thing. (?)

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[error]

Your Deloitte link is a big fat 404.

[BrightAnarchist]

How do we regulate a transaction where the consumer is located in one country; the merchant is in a second; the company proving the means of exchanging value is in a third; and the actual platform to exchange value is in the cloud?

Love it.

[rjk]

Your Deloitte link is a big fat 404.

Same here, can someone re-upload it? If you opened it and forgot to download it, it should be sitting somewhere in your temp folder.

[rjk]

Your Deloitte link is a big fat 404.

Same here, can someone re-upload it? If you opened it and forgot to download it, it should be sitting somewhere in your temp folder.

NVM, I got an updated link from the other thread: http://www.deloitte.com/assets/Dcom-Australia/Local%20Assets/Documents/news-research/Deloitte_The_Future_of_Exchanging_Value_19_07_2012.pdf

[casascius]

I was able to access the Deloitte link by removing the slash from the end of the URL.

[julz]

Your Deloitte link is a big fat 404.

Same here, can someone re-upload it? If you opened it and forgot to download it, it should be sitting somewhere in your temp folder.

They changed the date in the URL after publishing it. Fixed in OP.
http://www.deloitte.com/assets/Dcom-Australia/Local%20Assets/Documents/news-research/Deloitte_The_future_of_exchanging_value_19_07_2012.pdf