MostContagious2012.pdf - Contagious Magazine
MostContagious2012.pdf - Contagious Magazine
MostContagious2012.pdf - Contagious Magazine
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payMent / the<br />
changing way we<br />
pay<br />
tied to smartphones, but can be used creatively<br />
to solve pain points in the payment<br />
process in a wide range of contexts. Featured<br />
in <strong>Contagious</strong> issue 32.<br />
www.barclaycardpayband.com<br />
Digital Currencies / Bitcoin<br />
As people grow more open to new ways of<br />
paying, we’re seeing a rise in the ubiquity<br />
and legitimacy of virtual currencies. One of<br />
the most prominent of these is Bitcoin: a<br />
peer-to-peer digital currency that has been<br />
called ‘potentially world-changing’ by eminent<br />
cryptographers.<br />
Bitcoin is not overseen by any central<br />
banking authority; instead the network<br />
regulates transactions and issuances. This<br />
means it is highly anonymous, which has led<br />
to it becoming something of an unofficial<br />
currency of the underground economy. One<br />
Carnegie Mellon study estimates that $2m<br />
a month in Bitcoin drug sales take place on<br />
the online marketplace Silk Road.<br />
Despite its dodgy heritage, Bitcoin seems<br />
slowly to be moving into the mainstream.<br />
WordPress, which powers the blog platform<br />
for the likes of the New York Times and<br />
CNN, has just started to accept Bitcoins<br />
and Reddit has suggested that it might<br />
begin transacting in Bitcoins for subscriptions<br />
to its premium Reddit Gold service.<br />
The appeal of Bitcoins for these platforms is<br />
that, unlike credit cards and PayPal, which<br />
block payments from a number of countries,<br />
Bitcoin enables instant payments to anyone,<br />
from anywhere in the world.<br />
Bitcoin may also become more established<br />
via a physical presence. In August<br />
the company announced it was working on<br />
a BitInstant Paycard: a prepaid debit card<br />
that would let users spend their Bitcoins<br />
at any store that accepts MasterCard. The<br />
debit card is yet to materialise, but with virtual<br />
currencies becoming a larger part of<br />
the payment landscape it seems unlikely to<br />
be long before such a card, be it linked to<br />
Bitcoins or not, exists.<br />
bitcoin.org<br />
www.bitinstant.com<br />
Google / Physical Wallet<br />
As virtual currencies like Bitcoin look to gain<br />
a real-world presence it also appears that<br />
Google may be issuing a physical credit<br />
card. The Google Wallet card, which would<br />
look and operate like other credit cards,<br />
would act as a complement to the Google<br />
Wallet mobile payment system.<br />
News about the Google Wallet leaked in<br />
November and at the time of writing there<br />
are still few details available. The move<br />
can be seen, however, as Google trying<br />
to establish a stronger brand in the payment<br />
space while NFC remains far from<br />
mainstream.<br />
Last year the conversation around digital<br />
money focused on the ‘digital.’ However,<br />
as we move towards a more fluid approach<br />
to payment, the landscape is increasingly<br />
being characterised by a digital/physical<br />
blur. Just as we no longer think of ‘digital<br />
media’ and simply think of ‘media’, ‘digital<br />
money’ will eventually become just ‘money.’<br />
www.google.com/wallet<br />
MOVEMENTs purpose sErVicE data technology design social biz sharing amplified screens augmented retail personalise new loyalty payment sbpf<br />
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