Fareham — Nov 11th 2017
David gave us an interesting insight into the world of Digital Currency.
He showed us a presentation he prepared in 2014 on Bitcoin and the blockchain, and emphasised the significant changes in the scale of the operation just three years later. He then showed the iPhone app of Monzo Bank, one of the new online-only banks recently licensed by the Bank of England. He showed how Credit and Bank card procedure is rather more complicated than we might think and how Apple has broken into that market offering both convenience and greater security. Now, Apple have just introduced Apple Pay Cash in beta form in the US. David explained the difference between notes and coins and Commercial Bank Deposit Money and why Central Banks are looking at issuing Central Bank Digital money, the digital version of notes and coins. He ended by speculating that Apple Pay Cash could play a role in this.
After the break, we had general discussions about Apple problems.
The next meeting will be on 9th December, starting as usual at 10.30am.
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