What’s in your digital euro wallet? QR Codes for certain; Fintech down but not out, with APAC in the lead; What’s good for JPM is good for America, or too big to fail?
What’s in your digital euro wallet? QR Codes for certain; Fintech down but not out, with APAC in the lead; What’s good for JPM is good for America, or too big to fail?
Hi David! Sorry for the delay, am in Italy and didn't see your comment.
Agree it is a complex topic. From my read of the survey there may have been some coaching or explanation of what CBDC and offline payments were. So I wouldn't say the surveyed people were completely clueless. Still, I do agree that the survey results need to be taken with a "grain of salt." (Odd expression but it fits.)
Loved your article on "payments as a utility." I have been a proponent of payments as a public good for a long time. This is why PIX and UPI were so successful and why FedNow will struggle. PIX and UPI were set up as "public goods" while FedNow maintains banks role controlling payments. Same tech, different implementation.
"Takeaways:
—The ECB’s use of surveys is fantastic!"
My takeaway is that it's pointless asking the public about something (eg, offline use) that they do not really understand. Will blog.
Hi David! Sorry for the delay, am in Italy and didn't see your comment.
Agree it is a complex topic. From my read of the survey there may have been some coaching or explanation of what CBDC and offline payments were. So I wouldn't say the surveyed people were completely clueless. Still, I do agree that the survey results need to be taken with a "grain of salt." (Odd expression but it fits.)
Loved your article on "payments as a utility." I have been a proponent of payments as a public good for a long time. This is why PIX and UPI were so successful and why FedNow will struggle. PIX and UPI were set up as "public goods" while FedNow maintains banks role controlling payments. Same tech, different implementation.
https://dgwbirch.substack.com/p/payments-are-a-utility-and-critical?utm_source=profile&utm_medium=reader2