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Today In Payments: California Proposes Financial Watchdog; Germany Launches Investigation Into Amazon

PYMNTS

California lawmakers are moving quickly to create a financial watchdog agency as a new department of their state government, as the coronavirus pandemic accelerates financial crime across the nation. The Federal Reserve is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing a digital currency.

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Crypto 2020: One Step Up; Two Steps Back

PYMNTS

Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Jeremy Allaire , CEO of financial technology firm Circle , told PYMNTS that digital currencies are ready to transition from speculation to become more broadly adopted in everyday commerce. . Keeping An Eye On Fraud.

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Synchrony Says Erroneous Email Not Tied To Data Breach

PYMNTS

Senators Ron Wyden of Oregon, Chris Van Hollen of Maryland, Ed Markey of Massachusetts, Chris Coons of Delaware and Gary Peters of Michigan sent a letter asking whether the technology could be accessed by foreign entities or whether it posed a risk to national security.

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Edward Snowden Develops iPhone Case Spies Couldn’t Hack

PYMNTS

Snowden unveiled the device via livestream during a Massachusetts Institute of Technology Media Lab’s conference dubbed “Forbidden Research.”. Teaming up with well-known hacker Andrew “bunnie” Huang, the two designed the device, which is a piece of hardware that you put on your iPhone.

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The 2023 GonzoBanker Awards

Gonzobanker

Meanwhile, technology changes continued at a breakneck pace, with generative AI the biggest topic around management tables. The specifics are unclear, but bankers recognized that this will be an absolute game-changing technology in future years, and delivery will change in ways we can’t even conjure yet.

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Retail Bedfellows Roundup: Staples Shares Space, Affirm Finances Life Experiences

PYMNTS

Early April saw Staples announce a partnership with Workbar that will see parts of three of the office supply retailer’s Massachusetts stores converted into communal workspaces available for on-demand rental. ” What a breach of etiquette to call out the retail security industry — however necessary it is.

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How AI Will Go Out Of Control According To 52 Experts

CB Insights

As AI technology advances and seeps deeper into our daily lives, its potential to create dangerous situations is becoming more apparent. AI technology could be impossible to control. We cannot regulate technology that we cannot predict. A Tesla Model 3 owner in California died while using the car’s Autopilot feature.