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.
At the risk of stating the overwhelmingly obvious, there is nothing that stops you from vetting receivers in the push model. Push is strictly superior, because you can still vet receivers, but receivers themselves have no special privileges (unlike in the pull model).
-
-
True, though this is *supposed* to be happening already (know your customer rules). Banks are rubbish at it and fraudsters just pay others to use their accounts.
-
I suspect the root of the problem here is volume. Relatively few people with a reason to take pull payments, so more resources for checks, plus you can hold deposits for them. And they’re unlikely to let others “borrow” accounts for fraud.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.