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Government-run electronic payment systems would face enormous technical scaling challenges, security vulnerabilities, and implementation costs that likely excee
by ethan_smith 1y ago
Government-run electronic payment systems would face enormous technical scaling challenges, security vulnerabilities, and implementation costs that likely exceed private systems when accounting for taxpayer burden and bureaucratic inefficiencies.
- idle_zealot 1y agoOh, dang, really? I'll have to go inform every country that uses a government epay system that actually they should let MasterCard take over.
- bediger4000 1y agoSecurity vulnerabilities on the scale of the "carding" market? There's entire cybercrime sectors based on various forms of credit card fraud. Given the UK's "phantom withdrawal" situation 25-30 years ago, it wouldn't surprise me in the least to hear of a credit card issuing bank or two being entirely fraudulent.
- fmobus 1y agoPix sends its regards. It costs the Brazilian government around $10M yearly to maintain[1]. A bargain. [1] https://www.infomoney.com.br/economia/custo-para-manter-pix-em-operacao-e-de-r-10-milhoes-por-ano-diz-campos-neto/ https://www.infomoney.com.br/economia/custo-para-manter-pix-...