I know I am harsh on some of the cryptocurrency claims, but I would like to point out something very positive: the crypto API structure of push payments instead of the absurd credit card structure of pull payments is a massive step forward in several ways.
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I have been wishing that credit card companies would switch to push payments for, oh, I don't know - twenty years? And they are completely uninterested in that, preferring instead to do useless things like embedding chips into their physical cards.
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So here's hoping the crypto wave, whatever becomes of it, at least brings about a switch to push payments. Because it's the right design, and it's ridiculous that we still haven't gotten it from traditional banking.
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Push payments can be stolen though. Lots of examples from the banking world where scammers convince people to transfer money to the wrong place.
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