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by lorddoig 3927 days ago
It's not just technical though. BACS/CHAPS (payment systems that take days to move money and cost about £30 a go) would never die while banks had control of common technical standards. They're absurd. These standards mandate that each network hop include a holding delay measured in tens of hours. From light speed to days and why? Because it's a cash cow they'd be insane to mess with.