I understand that people don’t like cryptocurrency. I understand why people want financial services to be safe and regulated. I really, really do.
What I don’t understand is why people think the existing financial services industry is perfect and should be sheltered from all technical innovation.
In related news: the US ACH settlement system can’t process “same day payments” on weekends. It’s 2023. Why is everybody totally ok with this?
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@matthew_d_green Agreed. We just don't need to throw away all other working financial systems and currencies of the world by pushing Blockchains (burning the planet in the process, but that's just a sidenote here) into everything for "innovation and growth" simply because the US financial system is broken. Fix what's broken, but don't break what works already, please.
@matthew_d_green @rene_mobile For the record, I've lived, worked, and held local bank accounts in 4 different countries so far. The US system was _by far_ the worst of all, dependent on external, private, non-standard, niche, island services to get standard financial transactions done that are expected to just work in a better regulated banking system.
@rene_mobile @matthew_d_green Totally. I have lots of experience with US and EU banking, in both directions, e.g. while living in the US and the EU. The US system is really messed up. Another symptom is all those funny payment startups in the US trying to make payment easier. In the EU, we just do all that stuff with a plain old, cheap bank account. No extra apps, middlemen, fees, etc.
