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Maybe, a few years back I had the idea to create a service identical to what Brave offers today (except based on the traditional banking system, not cryptocurre
by thekyle 8y ago
Maybe, a few years back I had the idea to create a service identical to what Brave offers today (except based on the traditional banking system, not cryptocurrency) however I stopped after reviewing the money transmitter laws in the United States and determining that they were not compatible with this business model.
It's possible that Brave has found some sort of loophole that allows them to do this, but I haven't verified that.
https://en.wikipedia.org/wiki/Money_transmitter https://en.wikipedia.org/wiki/Money_transmitter
- jacques_chester 8y agoI have also had this idea (I think everyone who thinks about the problem space for > 30 minutes stumbles on the basic business model). Expanding your point: banks haaaaate this kind of business model. They see it as a fertile breeding ground for chargebacks, which are very expensive to them.