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Griffin – A fully-regulated, API-driven bank, with Clojure

juxt.pro

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Re: Griffin – A fully-regulated, API-driven bank, with Clojure

#31

Post by bnert »

dataangel wrote: post #21

nothing like having dynamic types manage your money

In OO languages (Java, C#, C++, etc...), and functional ones (F#, Haskell, OCaml, etc...) types do not validate the correctness of logic, they evaluate the correctness of data structures and their access/mutation as they are manifested in the language.

OO languages consider data correctness as access patterns of encapsulated primitives (or other data structures) through defined behaviors on a "class".

Functional languages consider data correctness as access patterns which preserve previous version of data which a caller may still need to reference, or another part of the system references. Functional languages (in most cases) disallow direct mutation without some sort of immutability or persistence.

Types have little (or nothing) to do with program correctness, or data correctness as it relates to external storage engines and their concurrency guarantees (i.e. FoundationDB, PostgreSQL, MySQL, etc...).

Therefore, in this scenario, what matter's most is the correctness of underlying storage (including the rigor of validating expected behavior) and the event sourcing/messaging systems, not on the internal data structures and their idioms conveyed by the language.

Re: Griffin – A fully-regulated, API-driven bank, with Clojure

#33

Post by monooso »

varispeed wrote: post #13
yuumei wrote: post #6

Unfortunately in the UK a bank can (and do) freeze your account with no reason for up to 2 years without any recourse or access to funds. With API access you risk your money being frozen due to automatic fraud detection. The government have given up policing of finance to banks and they take the least risky options

These "challenger" banks are a gimmick. Friend of mine recently tried to set up an account for his new business and all "challengers" refused a business account, they were slow to respond and disinterested in helping. Eventually he set up with a high street bank, but the whole thing took over a month, which is ridiculous.

My experience of banking with both Starling and Monzo (personal and business) has been excellent. Far better than with any of the high street banks.

Re: Griffin – A fully-regulated, API-driven bank, with Clojure

#34

Post by orra »

teamspirit wrote: post #3

Why are these API banks always in the UK? I've been waiting to do my banking using curl for years and no one has made it available in the US.

> Why are these API banks always in the UK?

I can think of 835 million reasons: https://www.reuters.com/article/eu-rbs-britain/corrected-uk-...

Plus, Open Banking and Faster Payments (which were EU initiatives before Brexit) maybe helped.

Re: Griffin – A fully-regulated, API-driven bank, with Clojure

#35

Post by jokoon »

xyst wrote: post #26

Despite the unpopularity here. I am still a fan of cryptocurrency as an alternative to traditional banking.

Unless finance institutions and laws can protect wallets and insure crypto, I will never use it. Currency is not just a number you move around, currency is deeply intertwined with how civilization works, and it requires a high amount of trust for people to use it.

Trust is rather a social concept that something you can really prove mathematically. It's collective trust. Unless you can DRASTICALLY reduce mis-use with bitcoin, no one with trust it ever without a lot of expensive protective measures.

A 1 hour lecture from a security professor on crypto currency:

https://www.youtube.com/watch?v=J9nv0Ol-R5Q

Something else:

https://www.youtube.com/watch?v=0AAUrMuMPlo

Re: Griffin – A fully-regulated, API-driven bank, with Clojure

#36

Post by hanniabu »

yuumei wrote: post #6

Unfortunately in the UK a bank can (and do) freeze your account with no reason for up to 2 years without any recourse or access to funds. With API access you risk your money being frozen due to automatic fraud detection. The government have given up policing of finance to banks and they take the least risky options

Yet another example for why Ethereum is needed

Re: Griffin – A fully-regulated, API-driven bank, with Clojure

#38

Post by gremlinsinc »

I absolutely hate when an articles starts out with:

> IN A STARTUP, YOU SHOULD BE USING THE MOST POWERFUL LANGUAGE YOU CAN, AND THAT IS CLOJURE.

says you. one opinion. in a startup you should use the language that your team can build and launch your MVP the fastest so you can get your first customers or funding. Hell, this could be a low code or no-code platform(probably not in fintech, just saying with startups in general).

I mean, I'd say Python is the most powerful language because of LLMs and machine learning and generally I'm a PHP dev. Python also is about to get a ton more powerful with mojo which supposedly makes Python 36000x more performant.

However, I would never tell someone x is the most powerful language and only one to use for a startup because that's a total lie and opinion.

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