alt Hacker NewsAnd the amount of process and control around a wire transfer is monstrous to reduce risk.
Watching crypto rediscover 100yr of financial regulation and system/process design has never not been amusing to me, esp as someone who works in an asset that has solved the custodianship problem (not that people in the industry aren’t actively attempting to light those safety rails on fire to make a few extra bucks).
What frustrates me is I _still_ can't buy a burrito with it! Cmon guys, I would gladly have a smart card or rfid phone app to efficiently move petty cash around and cut out the $0.50 that big banks make on every transaction. I won't have any more than $300 on it at any given time, so if I lose it im not out of a life savings.
Nope, using money for everyday purchases is not kewl enough for the bored apes.