[selfhoster11]

The only reason why they aren't programmable, is because banks choose not to expose an API. In fact, even that's not completely true: Starling offers programmable bank accounts in the UK, and there is at least one programmable credit card provider in the US.

[uh_uh]

These are good steps yes. But still, you're at the mercy of fintechs. Also, for this stuff to be really useful, it needs to be standardised worldwide. E.g. Algerian traders should be able to trade with Japanese counterparties by interacting with the same smart contracts.

[selfhoster11]

That I agree with. I just disagree with the assertion that legacy banking is not programmable, because there's nothing that inherently prevents it from working that way (other than bank policy).