Are incumbents seeking comfort in infrastructure

A metaphor describing the challenges incumbent banks were facing at the dawn of fintech was whether the banks were destined to maintain the rails or operate the train in competition with nimble startups and tech giants. Even though every bank out there were and still is unified in their quest to resist disintermediation and maintain ownership of the customer relationships, actions speak louder than words.

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Will bitcoin become worthless?

Since the peak of the bitcoin craze last year, bitcoin prices have been steadily declining throughout 2018. At this time one year ago, I argued that bitcoin is useless for anything else than speculation. While it is still possible to profit from speculation, the profitability of bitcoin mining is diminishing, and thus at risk of underpinning the whole fundament of bitcoin, making the uselessness of bitcoin absolute.

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Open banking: Going from vision to execution

By now, open banking has become the talk of the town in the banking industry. However, going from strategy to execution is the tricky part. Moving too fast without sufficient understanding your surroundings may result in unforeseen consequences, and on the other hand playing it (too) safe may result in a never-ending strategic analysis of what you could have, would have and should have been done. In order to get started, one must be able to refine and restrict the scope, focus and deliver.

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64 tiltak for økt digitalisering av Norge

Det siste året har jeg hatt gleden av å delta i regjeringens styringsgruppe og ekspertutvalg for næringslivets evne til å utvikle og ta i bruk ny teknologi. Resultatet er 64 konkrete råd for å styrke Norges konkurransekraft gjennom digitalisering. Vi ikke bli best på alt, og vi anbefaler derfor strategisk satsing på de fire teknologiområdene kunstig intelligens, stordata, tingenes internett og autonome systemer.

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Norwegian banks spearhead PSD2 collaboration

Even though the technical implementation of PSD2 has been delayed, there is no doubt that opening up the banking infrastructure will change the face of retail banking as we know it. While Norwegian banks are not required to open up until the second half of 2019, Sbanken and the SpareBank 1 banks are getting ahead of the curve and are making PSD2 happen long before it is required.

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It is unlikely that Apple will open up NFC for third-party payment solutions

In the wake of the Apple Pay launch in Norway, the fact that only Apple themselves is allowed to provide NFC-based payments through the handsets, making Apple Pay the only option for contactless payments through an iPhone has become a hot topic, and Apple has been reported to the Norwegian competition authority for exploiting their dominant market position to prevent competition. Despite this, it is still unlikely that NFC access for payments will be opened for third-party developers anytime soon.

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