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In the US that's true. Here in 21st century Britain I can initiate a bank transfer to another person from my phone, and they can immediately spend that money.
by jon-wood 10y ago
In the US that's true. Here in 21st century Britain I can initiate a bank transfer to another person from my phone, and they can immediately spend that money.
- codecamper 10y agoBut can you do that on a large scale?
- mianos 10y agoIn the UK yes. Their payment system is a long way ahead of that in the USA.
- ptaipale 10y agoIn fact, for much of the world, this "deposit a check" is definitely from last century. Instant transfer is reality in Europe, and even many countries in Africa and Asia operate mobile banking services where transfers happen right away. The currency is not necessarily cryptocurrency; it can be "air-time". https://en.wikipedia.org/wiki/M-Pesa https://en.wikipedia.org/wiki/M-Pesa