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> The Federal Reserve System is launching FedNow, a 24/7 instant settlement system which obsoletes middlemen such as Zelle, Paypal, and Venmo So exactly like c
by nailer 3y ago
> The Federal Reserve System is launching FedNow, a 24/7 instant settlement system which obsoletes middlemen such as Zelle, Paypal, and Venmo
So exactly like crypto except US specific.
- oblio 3y agoYeah, except for the fact that regular people will actually be able to use it to buy potatoes using a real currency, not a "currency" that's more volatile than tulip bulbs were in the 1600s.
- nailer 3y agoi’m not sure if you’ve use crypto before, but people buy things in USDC all the time.
- oblio 3y agoI'm new at this, I need a bag of potatoes. Where can I buy them with USDC?
- nailer 3y agoWhere can I buy them with Fednow?
- oblio 3y agoRight now, probably nowhere, it's just being introduced. Afterwards, if it's anything like SEPA, aside from my joke "bag of potatoes" comment, everywhere. In Europe you can make SEPA or SEPA backed transfers almost everywhere.
- nailer 3y agoI live in Europe and have never seen a single potato retailer advertise SEPA. Electronic payments are all Visa and Mastercard.