this post was submitted on 05 Apr 2025
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(page 3) 28 comments
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[โ€“] [email protected] 4 points 2 days ago

https://www.lemonde.fr/en/opinion/article/2024/02/07/does-the-european-central-bank-have-a-lagarde-problem_6501441_23.html

Christine Lagarde is not someone the world Should listen to. She is also the director of the IMF and all the homies hate the IMF:

https://www.economicshelp.org/blog/glossary/imf-criticism/

[โ€“] [email protected] 3 points 2 days ago (3 children)

Alipay credit card is wild.

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[โ€“] [email protected] 1 points 2 days ago* (last edited 2 days ago) (1 children)

Sometime in the future maybe people will look back on this as the beginning of money units being "credits" as in familiar sci fi terminology.

p.s. yeah I know "it's not the same thing" - I'm imagining that a monetary system could develop from an official credit mechanism.

[โ€“] [email protected] 1 points 1 day ago

Money is the credit mechanism originally (and still is in most developed countries). Coins and paper bills are IOUs from the central bank or the government, which will be exchanged for gold on request. Even though most countries moved away from the gold standard.

[โ€“] [email protected] -2 points 2 days ago* (last edited 2 days ago) (10 children)

WERO is coming all over Europe. Germany, France and Belgium are already connected and this year also in the Netherlands. It's happening but ofcourse.... much too slow for many of us :-) www.wero-wallet.eu If they realy want to be innovative they should use blockchain technology to make it happen.

[โ€“] [email protected] 2 points 1 day ago

This is very slow many countries have done something similar a long time ago:

Mir (Russia)

China UnionPay (CUP)

RuPay (India)

Elo (Brazil)

Interac (Canada)

BKM (Turkey)

Verve (Nigeria)

JCB (Japan)

Mada (Saudi Arabia)

Zapper (South Africa)

Naps (National Payment System) (UAE)

[โ€“] [email protected] 3 points 2 days ago

Wero would actually be a downgrade in service for people living in Portugal.

[โ€“] [email protected] 6 points 2 days ago

innovative

You spell "resume-based design" funny

[โ€“] [email protected] 5 points 2 days ago

In Portugal we have an app called MBWAY, it's a national fast payment service. with that we can send money just with phone number, withdrawal from atms an pay using qr code. I've heard they are already interconnected with their counterpart in Italy and Spain

[โ€“] [email protected] 3 points 2 days ago (2 children)

Innovation and blockchain do not go in one sentence. Blockchain is a near dead technology. It has its use cases but if you want a fast moving money transactions option, you should look into UPI by India.

[โ€“] [email protected] 1 points 1 day ago

We'll see. I believe in the blockchain technology, but not in the way it is used as today. IMO it's like the early days of the internet. Only for the nerds, until they started to build RWA. But again... we'll see.

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[โ€“] [email protected] 2 points 2 days ago (1 children)

Wero is great for what it does (sending money to other people) and it's going to gain the functionality needed for online commerce.

But that only covers half the functionality provided by Visa and MasterCard. You also need the functionality to pay at a restaurant or in the supermarket. You know, the card part of MasterCard?

Some European countries have their own debit card system (here in Germany for example giropay) but once you cross the border that stops working. Which is why those cards are usually co-badged with one of the big networks to act as a fallback. That's where the EU should act to ensure that the fallback functionality isn't necessary anymore, at least as long you're in the Euro-zone.

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