Well as I understand it, the best answer to that is a government controlled (and subsidized) entity like UPI in India, which was developed together by public ba

Well as I understand it, the best answer to that is a government controlled (and subsidized) entity like UPI in India, which was developed together by public banks, private banks, the govt, the reserve bank and Big Tech. For all the concerns about privacy, I'm not really concerned about my less than $2K transactions I carry out via UPI, and the cut that the companies take out of it (which right now is zero, but eventually will be charged).