Why the Fed's Real-Time Payments Will Fail

Last Wednesday, the day the markets started to slide, there was a US Senate Banking hearing on crypto. If you didn't get a chance to see it I've included a link to the video below. [1] About precisely 51 minutes in you'll hear Chris Van Hollen begin to discuss what he described as the Fed's desire to implement a "real-time" banking system because it could help people living "paycheck-to-paycheck". But that's wishful thinking no matter how well FinTech seems to work due to Shadow Banking, the dark underbelly of of the banking world which is so gross it the banking sector has tried to use MSM to change the name. Gross. Anyway, I'm happy to report I just used crypto instead of a Chase wire transfer to move some of my greenbacks from the US and convert them into some pretty Rupiah cash money here in Bali, Indonesia and the results were surprising. Here's what I did: I put a limit order buy on GDAX and scooped up some BCH on a dip, sent it through two mobile burner wallets for less than a penny each, then put a limit sell at 1% above market on Indodax, then paid Rp30.000 (about $2) to withdraw the money straight to an Indonesian Bank. And here's the result: I saved a $40 Chase wire fee and about a week of waiting for SWIFT (that name though right?) to clear. I also ended up making about $11 dollars in the process from well-timed trades and had my money in a few hours. So will FinTech help the Fed reach a real-time payment system so poor people can have more liquid access to their money as Dr. Roubini suggests in the video? I kindly doubt it...unless FinTech starts using Bitcoin. [1] https://www.youtube.com/watch?v=ZFc0Um6WUU4