The information you need to start your day, from PaymentsSource and around the Web:

Facebook exec moves to blockchain
Evan Chen, Facebook's director of engineering, has a new role: Director of Engineering, Blockchain. Cheng, who also used to work at Apple, revealed the change in an update to his LinkedIn profile.

The addition of Cheng to Facebook's blockchain group, following a similar move by former PayPal president David Marcus, signifies that this is an important project to the social network, TechCrunch reports.

Cheng is also reportedly an advisor to blockchain startups and projects including Zilliqa and ChainLink, according to TechCrunch.

Silhouettes of Facebook users
Bloomberg News

Face ID takes flight
Sydney Airport is testing a facial biometric check-in system that replaces the use of passports and boarding passes for Qantas passengers.

"Your face will be your passport and your boarding pass at every step of the process," Sydney Airport CEO Geoff Culbert tells CIO.au. That said, people traveling to and from the country will still have to undergo the standard border-crossing process.

The test is part of a $22.5 million project to deploy facial recognition tech at Australia's airports over the next three years, the article states.

Ant's WiFi investment
Ant Financial, the Alibaba affiliate that operates Alipay, has invested in Peanut Subway, a provider of WiFi on subway systems, China Money Network reports.

The news follows last month's bid by rival Tencent, working with automaker Zhejiang Geely Holding Group, to obtain a 49% stake in High Speed Network Technology Co., which provides WiFi on high-speed rail lines across China, the article states.

Transit is often seen as a major use case for mobile payments, given the closed nature of the system and commuters' needs for speed and scale.

Razer's new game
Gaming hardware maker Razer has launched its mobile wallet in Malaysia, where it can be used for P2P transfers and payments at more than 6,000 retailers in the region, including Starbucks, Wendy's and 7-Eleven.

Called Razer Pay, the app was developed in partnership with Berjaya Corporation Berhad and launched with support from seven of the country's largest banks.

San Francisco-based Razer in 2017 developed a digital wallet to support virtual currency transactions within its gaming network.

From the Web

Maltese Parliament Passes Laws That Set Regulatory Framework For Blockchain, Cryptocurrency And DLT
Forbes | Thu July 5, 2018 - July 4, 2018 marks a historical day for Malta, as the Maltese Parliament has officially passed 3 bills into law, establishing the first regulatory framework for blockchain, cryptocurrency and DLT (Distributed Ledger Technology). This makes Malta the first country in the world to provide an official set of regulations for operators in the blockchain, cryptocurrency and DLT space.

Tokyo blockchain conference looks to uses of technology beyond headline-grabbing cryptocurrencies
The Japan Times | Fri July 6, 2018 - The rise of cryptocurrencies has shone the spotlight on their underlying technology, which is known as the blockchain. A wide number of startups are now pitching services using the technology, which is often touted as the next major development since the internet.

Parity’s Jutta Steiner says the future of blockchain is many chains working together
TechCrunch | Fri July 6, 2018 - Few debates can get as heated in blockchain circles as the simple question: which chain(s)? Will a single public blockchain such as Ethereum become the one chain to rule us all, or will multiple chains co-exist in the marketplace?

More from PaymentsSource

Visa-Mastercard fee ruling cuts to root of payments' problems
This week's ruling from a U.K. appeals court is the latest of many episodes in a battle between merchants and card brands that has influenced regulations, technology, market strategies and nearly all other aspects of the payments ecosystem.

Startup using AI to make sense of drive-thru orders
Machine learning and voice recognition can ease the many pain points of drive-thru ordering.

Square quietly withdraws bank application
The payments processor has pulled its submission to the FDIC to become a depository bank but says it plans to make a second attempt soon.

GDPR tool for helping consumers exposes hurdles as well
The GDPR doesn’t mandate how data requests should be made, but it does say that organizations handling personal data should be prepared to handle the requests. One would be right to wonder whether companies are as prepared as they should be.

Daniel Wolfe

Daniel Wolfe

Daniel Wolfe is editor in chief at PaymentsSource and a contributing editor at American Banker.