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by radicalbyte
1739 days ago
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If you look carefully you'll see this tactic all over: throw mud in your opponents eyes to slow their rate of change. See: US banking (in the EU I can transfer cash, instantly, for free to a friend's bank account and have been able to do so for a decade), Fossil fuel vs Climate change, most commercial standard bodies. It's everywhere. |
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This one actually seems like a fault of the US government dragging its feet on making advancements on a nationwide protocol for transferring money and staying stuck on ACH. So much so that, that the biggest banks had to get together and create their own system 10 years ago:
https://en.wikipedia.org/wiki/Zelle_(payment_service)
> Launched in April 2011, clearXchange was originally owned by Bank of America, JPMorgan Chase, and Wells Fargo.
Supposedly, the US government is finally rolling out a proper system in 2023:
https://www.federalreserve.gov/paymentsystems/fednow_about.h...