Explore the various challenges that consumer protection and data privacy law and regulation face with regard to big data and machine learning techniques. Read now!
By ITU News While seeing his friends and neighbours struggle to achieve financial stability, Clement Muhirwa sensed an opportunity for innovation. Many of Rwanda’s contractors and casual workers, even when earning decent wages, remain “unbanked” – excluded from the formal financial system. All around him, the Kigali-based innovator saw people who, although gainfully employed, lacked […]
By ITU News Older people who suffer from dementia are likely to start having problems managing their money years before their clinical diagnosis. Financial mistakes, such as forgetting to pay bills or trouble managing savings, may be an early sign of Alzheimer disease, according to the researchers behind a 2021 US study that analysed more […]
By ITU News Digital currency is a relatively new but buzzing field of finance. Recent months have seen countries from Sweden to Jamaica start exploring or piloting their own central bank digital currencies (CBDCs). In fact, nearly 70 financial institutions around the world have stated that they are investigating CBDCs, the most recent being […]
By ITU News Only a few years ago, the concept of a central bank digital currency (CBDC) was not something central bankers seriously considered, including those in Jamaica. Fast-forward to the present day, and that story has changed, said Bank of Jamaica Governor Richard Byles, speaking at the recent DC3 conference held by the International […]
by ITU News More than 150 years after the world’s first electronic fund transfer was issued by Western Union, digital tech innovation continues to revolutionize the world of payments. While many countries have witnessed a downturn in cash use, Sweden’s case in the last decade was more striking than most. The country’s central bank, the […]
By Chaesub Lee, Director, Telecommunication Standardization Bureau, ITU Money as we know it is transforming. Digital currency offers promising ways to make transactions more secure and cost-effective. It has great potential, also, to boost financial inclusion for the unbanked. Technical standards developed by the International Telecommunication Union (ITU) can help us tap into this opportunity […]