I feel like the USA was probably ahead of the curve on things like the banking system in the 90s but removing all of that cruft and replacing with a v2 is not a

I feel like the USA was probably ahead of the curve on things like the banking system in the 90s but removing all of that cruft and replacing with a v2 is not an easy thing to do. Especially when the population are generally skeptical of government and outsourcing to a private corporation is seen as the cheaper option. Short term it's potentially cheaper/quicker to outsource but long term maintenance contracts and lobbying to keep things as they are is much more expensive. In the USA you find these whole industries that exist due to the inadequacies of the old systems. E.g. venmo doesnt need to exist in Western Europe (and probably rest of world?) because person-to-person bank transactions are free and easy.