[faust201]

KYC and centralisation means govt will promise your money is there. These are essential for dev country or 3rd world. Even with so much kyc often there are fraud. This has minimised fraud.

If you are looking for RMS style freedom etc then look elsewhere. This is not Iceland or Nordic.

One another overlooked issue is India was the largest printer of currency. Until UPI etc modernisation - lots of torn currency - usually caused arguments/inconveniences among population. Also often shopkeepers or transport agencies did not return proper money change upon payment.

Irrespective of privacy, now it take few seconds to pay. Just works. Even without NFC. No worry about return change.

[inigyou]

We've seen basically every country in the world make promises and break them. Right now your money is there, but give it less than 10 years until someone is decided to be a terrorist based on their transaction pattern, and all of their money is taken away.

[faust201]

Agree to your point. But the hawker in street in India wants to get paid or he or she cannot eat next day. And if majority say they will use UPI/online payments - they accept.

Do you live there? Every other shop will avoid paying you change including govt offices. While that should be resolved properly they did this workaround using online? Not perfect.

> We've seen basically every country in the world make promises and break them.

I sincerely hope you change the world.