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by boastful_inaba
323 days ago
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The U.S. Internet Preservation Society writes about chokepoints in the financial processing system (inspired by recent events with games stores) and the several layers present that are not obvious to people outside the system. UPIPS covers why payment networks are effectively immune from competition, and why creating a new competing payment network without restrictions will not provide benefits due to contract lock-in and other problems. They also cover proposed legislation's benefits and weaknesses for addressing the problem. |
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