Watch our Chief Product Officer, Martin Hargreaves, discuss the future of payments and blockchain networks at the Innovate Finance Global Summit 2022.
Quant participated in Innovate Finance’s Global Summit, which took place in London on 5 April 2022. Martin Hargreaves joined a panel session on the future of payments, open banking and central bank digital currencies with Jane Loginova, Co-founder and Co-CEO at Radar Payments, Kat Cloud, UK Policy Lead at Plaid, Ronan Gallagher, Head of Omnichannel Products at Trust Payments, and Jack Wilson, Head of Public Policy at True Layer. The event was moderated by Lorenzo Chiavarini, B2B Research Lead and Fintech Specialist at Dealroom.
Unique views on payments
Martin says that blockchain-based payments will come eventually. He adds: “while, we aren’t going to displace the current payment rails anytime soon…we are seeing nations and regions develop blockchain-based infrastructure to support their citizens with identity, customs declaration and private stablecoin solutions. These networks will contain a wealth of personal data and assets, and can eventually be leveraged for next-generation payment solutions.”
On privacy, Martin adds, “it’s one of the things that people [blockchain innovators] are working on. Privacy needs to be an integral part of the design considerations for payments to get the consumer traction needed for mass adoption.”
Martin on ‘leap-frogging’ technology, “we will see more acceleration in emerging economies that have digital inclusion, but financial exclusion. There are fewer incumbents in those places that oppose the development of newer blockchain-based payment methods. It’s going to be interesting how it all plays out.”
