Here is our pick of the 3 most important XBRL news stories from the last week.
1 An XBRL future for Europe? ESAP consultation draws 84% ESEF approval rating
All 154 submissions to the European Commission consultation on the establishment of a European Single Access Point (ESAP) are now available to download, and we’re pleased to see a strong positive response in favour of using XBRL.
Without the complement of a European Single Access Point, the establishment of ESEF would be significantly less useful, as researchers looking for data across the Union would have to do so using multiple portals. Given the favourable feedback from the respondent community, an XBRL based platform is indeed likely.
2 At a crossroads: the next chapter for fintech in China
As China’s FinTech industry enters a critical third development stage, we see a complex interplay of collaboration and competition among technology companies, traditional financial institutions and regulatory agencies.
Given the prominent role of fintech in China and the heightened scrutiny from regulators the sector has come under lately, this report provides a timely update of the current situation.
3 WHO mandates an Ethereum based Covid-19 passport using XBRL data
In a surprise announcement, the Geneva, Switzerland based World Health Organisation has developed an ERC20 based Covid-19 passport which will allow holders of the token on their smartphone to cross borders freely. The token returns its HODLers travel status after querying the dates and types of the last Covid-19 inoculation or positive antibody tests.
While we’ve heard some rumours about this incredible development through the local crypto valley grapevine, we gave it little credence before reading the formal release linked to above. We are particularly pleased by this creative application of the much hyped NFT standard.
Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.
We have a self-imposed constraint of 3 news stories each week because we serve busy senior leaders in Fintech who need just enough information to get on with their job.
For context on XBRL please read this introduction to our XBRL Week in 2016 and read articles tagged XBRL in our archives.
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