21–25 of 25 posts
There needs to be a push for private moneys and more digital cryptocurrencies. Especially as wealth concentration and automation are pushing people out of jobs. People cannot be forced to use the same currency system and compete on a playing field which systematically values their labor as approaching $0. They must be allowed to form parallel economies which work for them. Currently, it feels like it's illegal to be…
Consortia of credit unions and national postal services all need to offer universal p2p and electronic payment methods that do not depend on the patronage of fickle, moralizing corporate crooks. Banking and ability to make purchases and receive funds are human rights, not privileges to be dictated by technofeudal overlords.
This situation (Visa and MasterCard determining what's acceptable or not commercially on the internet) is a side effect of having privatized electronic money. The US federal government runs the ACH system for free, and it works fine. The feds could have done electronic money, and it could have been more secure and less costly, But noooooo, we had to have a market based solution. The consequences include a few unelect…
Government-run electronic payment systems would face enormous technical scaling challenges, security vulnerabilities, and implementation costs that likely exceed private systems when accounting for taxpayer burden and bureaucratic inefficiencies.
It costs the Brazilian government around $10M yearly to maintain[1]. A bargain.
[1] https://www.infomoney.com.br/economia/custo-para-manter-pix-...
Consortia of credit unions and national postal services all need to offer universal p2p and electronic payment methods that do not depend on the patronage of fickle, moralizing corporate crooks. Banking and ability to make purchases and receive funds are human rights, not privileges to be dictated by technofeudal overlords.
That's exactly what ethereum is - you're able to move funds without permission, trustlessly, instantly.
Banks have fraud experts on staff, they have people that can monitor activity and stop such transactions. Both sides have accountability so that the thief can be tracked down. Your worst outcome is getting your card skimmed and not noticing it in time to report the fraud unless you deliberately send your bank info to someone else. But even then, your bank can probably still help you.
Consortia of credit unions and national postal services all need to offer universal p2p and electronic payment methods that do not depend on the patronage of fickle, moralizing corporate crooks. Banking and ability to make purchases and receive funds are human rights, not privileges to be dictated by technofeudal overlords.
That's exactly what ethereum is - you're able to move funds without permission, trustlessly, instantly.