wow, so futuristic! but which part of i put cash from my hand int yours is not instant enough?
The part where they can’t stalk you and steal your data
idk about you but i don’t carry around $10,000 cash… i do however carry around my phone, which (assuming someone has that) has access to transfer that, and more
man if only some kind of “technology” existed to securely hand over big amounts of money, like maybe the cash could be “stored” somewhere, like in a “database” of some sorts, and we could then use some kind of “unique identifiers” and make like “transfers” in cases where the needed cash amount is so big that carrying it around makes us feel uncomfortable 🤔
The problem with traditional bank transfers, at least in Switzerland, is that they are very much not instant and take up to 2 buisness days for non-buisnesses in switzerland. Therefore instant payements look like a nice alternative to our alternative to venmo here
you’re absolutely correct… we’ve had this in australia for years and it changes the game tbh
it was added with a system that integrates account details with phone numbers, email addresses, abns (australian business number), so you can pay to all these identifiers without bank details from any bank to any bank, and it’s instant
the massive benefit of it being bank to bank rather than some shit 3rd party app is you’re much more protected against fraud, and there’s lots of insurance going on that you’re not aware of until something goes wrong
got a point there, the twint TOS are straight up criminal, if this new system kills twint im in support of it.
that’s literally what this is about
Nah that’s way too convoluted, would never work out
The part where they say $x and you need to count it from you wallet, and then they need to recount. Possibly provide chance, oh no i am out of chance let me check with a colleague.
But i absolutely hate how cash is dissapearing because its has additional used in familiar settings.
Am i really supposed to give me child their allowance on a card? That means they need a phone with an app to check balance aswell. That wont be good for financial literacy for sure.
When i visit my grandparents they often gave me some loose change so i could start “saving”
They where not going to do the effort of opening some Corporate software to transfer 50c
There are some frightening situations that are impacted by not having cash in a society. I don’t think of them all because they are largely to do with vulnerable and less privaledged people, but one that stuck with me was someone in an abusive relationship would benefit from being able to save cash for the moment they are able to escape. I suppose buying nasty sex shit is another.
