4 ms·
A point that is missed by this essay is that in a lot of the west the types of activities he is describing are, for legal/regulatory reasons, only permissible b
by venantius 9y ago
A point that is missed by this essay is that in a lot of the west the types of activities he is describing are, for legal/regulatory reasons, only permissible by a bank. So while we can have Apple Pay, PayPal, etc., under the hood those products and companies are still built on top of inter-bank payments with banks actually holding the cash.