3 ms·
I don't think any major currencies will get turned into crypto assets either, there's no reason for a government to do that. Instead what's happening is that tr
by 6nf 7y ago
I don't think any major currencies will get turned into crypto assets either, there's no reason for a government to do that. Instead what's happening is that traditional banking systems are being upgraded to allow instant and person-to-person transfers of money. This is one of the main benefits of crypto - being able to instantly send money to anyone. If you can just use your existing online banking system, so much easier. And the government still gets to track it all and make sure we're not cheating on our taxes or funding terrorists or whatever.
I'm not an expert but I believe many EU countries now have instant P2P bank transfers. Australia just got their system going in the last few years too. The US is a bit behind but I'm sure it's coming.
- lotsofpulp 7y agoAll the big consumer banks in the US also have instant transfers to phone numbers or email addresses: https://en.wikipedia.org/wiki/Zelle_(payment_service) https://en.wikipedia.org/wiki/Zelle_(payment_service)
- 6nf 7y agoThe Australian system does not require signup from the recipient (or the sender for that matter) and there's no transfer limits beyond what your bank already had on your accounts previously.
- PaulDavisThe1st 7y agoDitto for the UK and European systems. Give destination routing number and account and amount, press some button. Done. No fees, ever, and transfer is more or less instantaneous.
- kmlx 7y agodoesn't apply to all European systems.