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by Gigachad 1591 days ago
In an ideal world I'd love to see social media apps be able to loosely hook in to banking apps. So facebook messenger would handle requests and you would tap "send" in facebook messanger which would open your bank app with something like "Send $10 to facebook user ___ and let facebook confirm transaction success" so facebook never has to hold your money or make transactions, but you can make payment requests in messenger.

Although I do remember that the US doesn't really have a good/fast way to make instant bank to bank transactions so that could be an issue.
3 comments
zhte415 1591 days ago
PSDR2 (EU) and Open Banking (UK) regulations have this as a possibility.

I'm not up to speed on how fast implementation of the 'L2' has been, but this is a very real use case. And no need to open your banking app since delegation to your 3rd party app (Facebook in this case).

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bobthepanda 1591 days ago
The US is expecting to release this in 2023. https://www.frbservices.org/financial-services/fednow/about....
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xiphias2 1591 days ago
Jack Mallers (CEO of Strike) gave a presentation about the Lightning network as the open protocol for international fiat debit payments, and multiple Facebook managers were on that meeting. Now that Cashapp integrated sending money with it, Strike can be connected with US Chase bank account, the race for embracing the open protocol is on.

The cool thing with USD payments over lightning network is that capital gains tax is not triggered.

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disgruntledphd2 1591 days ago
> The cool thing with USD payments over lightning network is that capital gains tax is not triggered.

This is a bug, not a feature, to the US government.

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Gigachad 1590 days ago
Why would capital gains be paid for a transaction?
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