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People have trouble coming to an agreement with their neighbors — and here you are asking for all countries of the world to decide how they are going to legisla

by ilammy 5y ago

People have trouble coming to an agreement with their neighbors — and here you are asking for all countries of the world to decide how they are going to legislate multinational entities like Visa in simple, straightforward, and mutually fair way. And United Nations is going to ensure that no country can forbid Visa to operate on its territory. Each country is surely going to legislate within its borders, but outside it's quickly turning into the international law territory. And the great secret of international law is that there isn't any. Bitcoin at least provides actually internationally enforceable operation framework. You cannot unilaterally alter the deal.

arcticbull 5y ago
You've created quite a strawman here. None of that is really necessary. Each individual country can legislate how they want Visa to operate within their borders and Visa can take it or leave it. Most major countries or regions have their own payment rails, and if Visa wants to play, they'll have to play by the rules. It's not nearly as hard as you make it out to be. No UN needed.
- ilammy 5y ago
  For each individual country in isolation – relatively easy, yes. What’s hard is universal consensus. If organization X is considered shady by country A, but totally legit in country B, then Visa operating in both countries A and B cannot allow transfers from B to A. Regardless of what country B and its residents think, Visa would get into trouble with country A. Country B cannot legislate Visa to ignore the laws of A, and there is no recourse for residents of B.
  - arcticbull 5y ago
    Universal consensus isn't required. It's up to individual countries to decide how they choose to run their payment networks and if that means you cannot transfer between countries, that's a choice they make. They can just achieve this with local or regional subsidiaries, as they already do. Multinationals already handle this exact situation all the time. Marijuana is a federal crime in the US and basically everywhere else on Earth, but you can buy pot at Canada's government-run pot dispensaries online with your Visa, Mastercard and American Express cards. Like at http://ocs.ca http://ocs.ca

by ilammy 5y ago

arcticbull 5y ago

You've created quite a strawman here. None of that is really necessary. Each individual country can legislate how they want Visa to operate within their borders and Visa can take it or leave it. Most major countries or regions have their own payment rails, and if Visa wants to play, they'll have to play by the rules. It's not nearly as hard as you make it out to be. No UN needed.

ilammy 5y ago
For each individual country in isolation – relatively easy, yes. What’s hard is universal consensus. If organization X is considered shady by country A, but totally legit in country B, then Visa operating in both countries A and B cannot allow transfers from B to A. Regardless of what country B and its residents think, Visa would get into trouble with country A. Country B cannot legislate Visa to ignore the laws of A, and there is no recourse for residents of B.
- arcticbull 5y ago
  Universal consensus isn't required. It's up to individual countries to decide how they choose to run their payment networks and if that means you cannot transfer between countries, that's a choice they make. They can just achieve this with local or regional subsidiaries, as they already do. Multinationals already handle this exact situation all the time. Marijuana is a federal crime in the US and basically everywhere else on Earth, but you can buy pot at Canada's government-run pot dispensaries online with your Visa, Mastercard and American Express cards. Like at http://ocs.ca http://ocs.ca