Launching a payment product requires big moonshot thinking alongside a lot of agonizing over the details. Understanding the market, the customer journey, and the technology - from every angle requires patience, persistence, and a beginner’s mindset to learn from every success and failure. Thinking about launching a new form of currency, however, is on another level altogether.
There’s an entire population of a country to consider - what does each segment of the population require to be able to use the currency? Then, there is the currency’s role in supporting the economy. How will a new currency be protected from counterfeiting, and what controls will be required to prevent its misuse? How will it work with legacy payment systems and commercial banks? And how will it adhere to laws in place today and be prepared for tomorrow? Last but certainly not least, which technologies will enable all of these things and more?
These were just some of the thoughts bubbling through my mind when I sat down with Jim Cunha, former EVP at the Federal Reserve Bank of Boston, to discuss the capstone project of his career - Project Hamilton - and the questions he and his team sought to answer as they embarked on their CBDC experiment. I hope you enjoy hearing Jim’s insights on digitizing the world’s reserve currency - I sure did.
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Episode 117 - Stop Them at the Front Door Before Giving That Loan - Rivka Gewirtz Little, Socure
Episode 116 - Now More than Ever - Glenbrook Payments Boot Camp® Digital Edition - Russ Jones, Glenbrook Partners
Episode 115 - Finding the Phantoms - Synthetic Identity and the Issuer - Naftali Harris, SentiLink
Episode 114 - How to Orchestrate the Merchant’s Payments Infrastructure - Justin Benson, Spreedly
Episode 113 - SMB Cash Management Meets Lending and Payments - Nan Siler, Kabbage
Episode 112 - What the Mobile Ecosystem Brings to Risk Assessment - Rodger Desai, Payfone
Episode 111 - Managing Ecommerce Fraud - Colin Sims, Forter
Episode 110 - Building Out and On a National Faster Payments System
Episode 109 - Bitcoin SV, a Payments and Data-focused Path in Bitcoin Evolutio - Jimmy Nguyen, Bitcoin Association
Episode 108 - B2B Payments for the Massive Insurance Segment - Jeff Brown, VPay
Episode 107 - The Financial Inclusion Impact of the Digital Wallet in Columbia - Hernando Rubio, CEO, Movii
Episode 106 - Payments Infrastructure for the ISV - Richie Serna, Finix
Episode 105 - The Independent Gateway's Enabling Role - Nick Starai, NMI
Episode 104 - The Complex World of Healthcare Payments - Ian Drysdale, Zelis Payments
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Episode 100 - Strong Customer Authentication - Russ Jones, Glenbrook Partners
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