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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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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Chips on credit card is there since 34 years now.
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The chips weren't originally useless, adding a factor of security. Unfortunately, now they only use a PIN in debit mode and everyone uses them in credit mode for convenience, so we're back to one-factor security.
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To a certain extent Paypal have done this reasonably well (in the UK & Europe at least). Push payments would definitely be better, I just don't think cryptocurrencies are at all the way forward.
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