3 ms·
How is this better than just using SIM identities? If we want a way to digitally transact quickly, cheaply, for 'walking around money' levels, then a simple dis
by anotherhue 3y ago
How is this better than just using SIM identities? If we want a way to digitally transact quickly, cheaply, for 'walking around money' levels, then a simple disposable wallet baked into the SIM is a trivial way to go. Remember a SIM is basically a HSM.
It of course, already exists, and is very successful in Africa. But SV innovators don't have a piece of it so better make up some BS and drown out any practical voice with media click-bait about eyeballs.
https://en.wikipedia.org/wiki/M-Pesa https://en.wikipedia.org/wiki/M-Pesa
- Scoundreller 3y agoAnd a SIM is just a smaller iso7816 smart card. Never understood why Visa and Mastercard (or its members) never turned on the stored value (“offline credit”) portions of the spec. Plenty of retailers that just “go dark” when the payment/telco network goes down. But maybe that’s an IT issue/decision. (At least that’s how I think it works: the card keeps track of how many unsigned offline transactions have happened and eventually says “no more” until it gets a ping back from the payment network)