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It really seems like this author has some kind of bone to pick. Banks aren't going away soon. Banks are not going to make it easy for third-parties to proxy t
by chavesn 13y ago
It really seems like this author has some kind of bone to pick.
Banks aren't going away soon. Banks are not going to make it easy for third-parties to proxy transactions soon. NFC or other non-card POS technologies are not going to be everywhere soon.
Those are valid hopes or dreams, and I hope someone is working on it. But Coin promises to be a product that will reduce many cards to one now.
And arguing whether a "pre-order" scheme is legal or not is kind of a moot point: Pre-ordering customers show agree to the transaction, and show their intent give Coin their money now for something later -- even if it is forced by law to be done in a different matter.
- jebus989 13y agoWhy would banks go away? In the UK Barclays ran a load of ads a year or two back about "PingIt", their app for sending money to phone numbers or paying for things with QR codes. I mention this because you propose banks as active resisters, but from how I see it they stand to make significant efficiency gains by just maintaining an app and website, as opposed to making plastic squares by the million, maintaining thousands of ATMs, even still printing chequebooks...
- ImprovedSilence 13y agoSlight tangent, but I'm pretty sure sending money to phone numbers is pretty much how 90% of banking in Africa gets done, it seems like pretty cool stuff. Also, I have a bank account with PNC, and if I need to send money to a friend, all I need is their email address, and PNC sets up a transfer, and shoots them an email with a link and instructions for retrieving the money/depositing it into their (not necessarily PNC) bank account. Also the whole cashing a check via taking a photo on my phone is a pretty awesome feature.