I feel like whoever wrote the headline fucked it up, because the article reads more like that Visa/MasterCard payments are a 24 trillion problem, and wero is a potential solution.
This is the only correct way. An EU-funded open-data, open-government, open-source Project with the whole purpose of building a non-profit alternative to Visa or even PayPal
A few years back I remember who I believe was a commission leader in Brussels commenting on Pix along the lines of: Pix has given banking access to many Brazilians. We already have a very high quota in Europe, so we will not need an equivalent system... I don't think there's much interest in the political sphere for a publicly run solution like this.
Pix had anything to do with banking access. You need to have a bank account to have access to pix. Pix is a money transfer system, that is free for individual users and extremely cheap for companies, controlled by the central bank that works instantly 24/7.
Edit: is also mandatory for banks and financial institutions so everyone has it
I'm aware. The difference in fees compared to MC/Visa for example is staggering, but no surprise if the infrastructure isn't profit-oriented. I was just making the point, that the ones responsible to make it happen in Europe are making excuses for why it won't be done. It is true though, that around the time of Pix being implemented there was a boom in financial inclusion in Brazil. But that might have just as well been because of the pandemic and Pix just made it easier for everyone.
I hope Wero becomes a EU standard. Sadly our banks have their own system Flik bu the issue is you literally cannot use it to pay anywhere. But they refuse tp accept wero due to having their own system.
It's pretty much clear that it will not. Wero was late and most countries already have their own systems. They all signed an agreement last year to work on integrations. Wero will not replace all of them. Which is good because Wero is controlled mostly by German and French banks.
Well that would work as well. But afaik our current banks have not joined any integration programs it was just a few nations that did. Bit in the end if they all integrate and I am able to use our own system to pay in most pf the EU I don't really care. As long as it works.
Afaik there is a schedule, atm it's not EU wide yet.
I'm sure there will be a wide support fairly soon (2027? oh, it's already in all the countries they opted in - and it's per county, not per bank, eg Revolut), especially as Wero gets more adopted for all the things. It's prob already the biggest of them with 50m users.
These local solutions (from banks or startups) will get integrated into the system (imho) as intermediaries offering some additional value (idk, credit payments or whatever).
I'm in Romania, and I have never heard of Blik. Maybe it's behind Revolut's instant payments or something?
There is a domestic instant payment solution - RoPay - but I've never actually used it; my bank does occasionally remind me it exists but I've never seen a merchant that accepted it. I would say Revolut's solution I have started to notice - I've used it to pay for flights with WizzAir, for example.
Honestly I think long term the digital euro will be the killer even if it takes longer than Wero. Wero is nice in the meantime, adoption will probably take till end of the year and next year tho.
Centralized problems are generally easier to solve than distributed problems. Depending on their architecture moving to an EU cloud provider could range from tricky but manageable to very painful , but it's a centralized IT problem that can be attacked and solved. Getting every retail vendor to support Wero is much harder, and is being solved apparently.
Valid point.
But technically an easier transition to own solutions at some point.
Wero has its roots before the overall critical industry 'digital independence' got enough attention (in the recent year), it was more about solving a specific duopoly (that a lot of banks & startups started solving anyway, just way more fragmented).
I don't know much about the payment processors but I would assume Visa and MasterCard run on their own hardware? Or are they also tied to a cloud provider these days?
Yes but this is a simple migration away. The system itself and its adoption are far bigger barriers.
AWS
Also, when Wero started, Trump hadn't started to set the world on fire yet, so the geopolitical angle was far less pronounced. Until Jan 2025, hosting an EU service on AWS was not controversial.
While true, the AWS infrastructure in Europe is somewhat sovereign from the parent company and under stricter regulation and oversight. Granted, it's not a perfect solution but a good one for the moment.
Wero lets users send money using just a phone number
No, Wero lets users send money using a smartphone. If there's no desktop interface (like Poland's BLIK) I'm gonna be disappointed.
I know India's UPI runs on HMD dumbphones, would be nice to have something like this.
That's a question for your bank. Wero is a system designed for mobile payments between banks, but in 95% of all cases it's your bank implementing it for the user.
Well, it's a law within the EU that instant payments need to be fulfilled within 10 seconds. If you select that after logging into your bank it shouldn't be an issue, though it should be the automatic option, IMO; you shouldn't have to enable it, but rather disable it if you don't wanna send money instantly, and IMO banks should already know this. My only gripe is that most banks in Europe don't have a proper "user account" system. It's more of an address book as opposed to a contacts list. I'd prefer pressing on my peer's name through a search function on the home screen, than needing to select his name from a list after pressing the specific button for it in the menu to send money, which I've already had to press another specific button for; just to reduce the steps needed to send money. I don't see why that is not doable.
Knowing the EU and my country, the reason is "security" by difficulty. Boomer-ass continent.
I’d prefer pressing on my peer’s name through a search function on the home screen, than needing to select his name from a list after pressing the specific button for it in the menu to send money, which I’ve already had to press another specific button for; just to reduce the steps needed to send money. I don’t see why that is not doable.
Revolut has this, if you trust them with your money. I've had no issues over the last 2 years that I've used it, but apparently not everyone can say the same.
Which does nothing for point of sale at present, it is only vaguely 'planned'.
In Europe we didn't really rely on credit cards for online payments anyway. It was an option but far from the only one. The problem was just that each country had their own system which was a PITA. Wero unifies those. Handy for webmasters, but geopolitically not a gamechanger.
The big problem is PoS payments where MC/Visa are king and basically have a duopoly. I don't know why Wero didn't start with the elephant in the room.
Only some EU countries have joined so far, and I believe not all banks for those either. Here's a list
You can use either your bank app or the Wero app, available on Play Store or App Store. No Wero without a Google/Apple approved phone and app, unless there's a bank that provides an APK file and doesn't rely on Play Services
You can't use it to pay in person yet, it's more of a PayPal replacement than a Visa/MasterCard replacement
If/when the point of sale payments become a thing, it will be via a QR. No plastic card you can use when your phone battery is flat. I have no idea if they're planning on changing that.
Personally I can't use it, it's not available in my country. I can however send people money instantly by doing a SEPA Instant transfer, the only "difficult" part about is needing their IBAN, which they can just copy and paste into a messenger app or send via a text if it's a stranger (like the one or two times I've bought a car off a stranger via bank transfer - which mostly there's no need to here as the Estonian transport authority actually has a secure method for that which guarantees that the car's ownership is transferred when the money is transferred - and works via a bank link)
There's been talk of an European payment card system too, but usually people just go "well the individual countries already have their systems so there's no need, Wero is all you need". Which I disagree with, because 1) many EU countries do NOT have a payment card system 2) those systems require you to use your card in your own country mostly. If there was a big EU-wide system, it would more than likely also be accepted in non-EU countries in the future and we could have European cards with the Visa/MasterCard experience where you just go to pretty much any country in the world and your card JUST WORKS. Till that happens, you still need to own a Visa or Mastercard if you want to go abroad, though luckily you can just have a virtual card for that nowadays.
TL;DR: It currently has like two use cases which are already mostly handled well enough by normal bank transfers, which are instant up to like 10k EUR IIRC (might've been more, might've been less) and available much more widely. Though if wero offers consumer protections, it MAY be a bit better in online purchases than a normal transfer - but as long as you only buy from reputable sites, that's not too big of an issue anyway, and there's three and a half online stores that let you buy using wero apparently (this is just what I've heard, can't confirm - it's not available in my country after all)
Yeah it would be if my country had anything worth saving. The US is an international cess-pit that's rotting everything it touches. I've been lower middle class to broke all my life so this shit collapsing is just another day. I feel bad for the children and elderly but overall the people who will get hurt deserve to have their worldviews shatter while the US crumbles under its own cancerous despotic weight. Too many people in my country are too comfortable sitting idly by while we rape and rob the global south and its time for that to end.
Good that the article points out that the US and Chinese providers are already fighting the European alternatives. By occupying other layers of the stack, rendering European digital payment sovereignty impossible. High time to accelerate this!
It saddens me that crypto never really became a legit cash replacement. I guess the incumbents are just way too powerful, and Bitcoin kind of got off on the wrong footing.
Government don't like cryptos, they can't control them so it's normal they won't promote them. But cryptos have come a long way, they are used extensively for cheap cross border transfers and with Proof of Stake we don't need mining any more (and its problematic energy consumption):
Well, being dependent on a central authority wasn't solved.
Sure it was. The only friction point is cashing out to fiat, but nothing is stopping people from doing that independent of a bank or central authority (see localbitcoin and localmonero)
99 Comments
username_1@programming.dev · 231 pts · 130d
silver@das-eck.haus · 182 pts · 130d
This guy read the article before he commented, everyone laugh at him!
username_1@programming.dev · 65 pts · 130d
fisch@lemmy.world · 41 pts · 130d
Wait, you guys can read?
SkaveRat@discuss.tchncs.de · 14 pts · 130d
I can't even write
MrShankles@reddthat.com · 21 pts · 130d
Kissaki@feddit.org · 4 pts · 129d
Thanks for asking, the weather is pretty nice today.
Zink@programming.dev · 3 pts · 130d
And my axe!
Goun@lemmy.ml · 3 pts · 130d
With this economy!
CapuccinoCoretto@lemmy.world · 3 pts · 130d
Ha ha!
wonderingwanderer@sopuli.xyz · 18 pts · 130d
It's a problem for visa and mastercard, I guess 🤷♀️ certainly not for Europe...
svcg@lemmy.blahaj.zone · 9 pts · 129d
I feel like whoever wrote the headline fucked it up, because the article reads more like that Visa/MasterCard payments are a 24 trillion problem, and wero is a potential solution.
PieMePlenty@lemmy.world · 3 pts · 129d
Because its relative. Its good for the EU because it's taking that market back, its bad for the US because its losing that market.
exaybachae@startrek.website · 124 pts · 130d
Fund tranfering should be a gov service provided at cost and maintained as a partnership between nations to make commerce easy for their citizens.
Profit shouldn't even be a concern.
stoicEuropean@lemmy.ml · 56 pts · 130d
This is the only correct way. An EU-funded open-data, open-government, open-source Project with the whole purpose of building a non-profit alternative to Visa or even PayPal
BigShammy80@feddit.org · 0 pts · 130d
Will never happen though :-(
driving_crooner@lemmy.eco.br · 6 pts · 130d
Brazilian Pix be like:
AliSaket@mander.xyz · 1 pts · 129d
A few years back I remember who I believe was a commission leader in Brussels commenting on Pix along the lines of: Pix has given banking access to many Brazilians. We already have a very high quota in Europe, so we will not need an equivalent system... I don't think there's much interest in the political sphere for a publicly run solution like this.
driving_crooner@lemmy.eco.br · 1 pts · 129d
Pix had anything to do with banking access. You need to have a bank account to have access to pix. Pix is a money transfer system, that is free for individual users and extremely cheap for companies, controlled by the central bank that works instantly 24/7.
Edit: is also mandatory for banks and financial institutions so everyone has it
AliSaket@mander.xyz · 1 pts · 128d
I'm aware. The difference in fees compared to MC/Visa for example is staggering, but no surprise if the infrastructure isn't profit-oriented. I was just making the point, that the ones responsible to make it happen in Europe are making excuses for why it won't be done. It is true though, that around the time of Pix being implemented there was a boom in financial inclusion in Brazil. But that might have just as well been because of the pandemic and Pix just made it easier for everyone.
detren@sh.itjust.works · 1 pts · 128d
Things have changed now and Brussels is slowly working on a digital euro.
Cavemanfreak@programming.dev · 4 pts · 130d
But think of the poor banks and card companies!!
boonhet@sopuli.xyz · 4 pts · 129d
For bank transfers this is already a thing, it's called SEPA. Transfers are instant and free (to the user at least, no idea if the banks have to pay).
But yes, there should be an equivalent thing for in-person payments too.
Evil_Shrubbery@thelemmy.club · 54 pts · 130d
Slop title.
The solutions are ready, super cheap, and the transition period gradual & managed.
It is a revenue problem for MasterCard & Visa, bcs no more free monies for them.
Bluegrass_Addict@lemmy.ca · 19 pts · 130d
fuck em
AliSaket@mander.xyz · 2 pts · 129d
And no more data as well. Don't forget about the consumer data.
Evil_Shrubbery@thelemmy.club · 2 pts · 129d
Oh, yes, absolutely a valid point!
That has enormous consequences, third parties & data brokers are making a killing & worsen our society.
notsosure@sh.itjust.works · 53 pts · 130d
I’ve been using Wero for a while. What’s missing are vendors that accept it online, also when hiring a car.
Wizard_Pope@lemmy.world · 17 pts · 130d
I hope Wero becomes a EU standard. Sadly our banks have their own system Flik bu the issue is you literally cannot use it to pay anywhere. But they refuse tp accept wero due to having their own system.
Anafabula@discuss.tchncs.de · 14 pts · 130d
I would much prefer a digital euro based on GNU Taler, but I guess Wero might at least be better than the status quo
Wizard_Pope@lemmy.world · 7 pts · 130d
I am conflicted on the digital euro. But a mastercard/visa alternative is 100% needed
ExLisper@lemmy.curiana.net · 4 pts · 130d
It's pretty much clear that it will not. Wero was late and most countries already have their own systems. They all signed an agreement last year to work on integrations. Wero will not replace all of them. Which is good because Wero is controlled mostly by German and French banks.
Wizard_Pope@lemmy.world · 2 pts · 130d
Well that would work as well. But afaik our current banks have not joined any integration programs it was just a few nations that did. Bit in the end if they all integrate and I am able to use our own system to pay in most pf the EU I don't really care. As long as it works.
Evil_Shrubbery@thelemmy.club · 2 pts · 130d
Afaik there is a schedule, atm it's not EU wide yet.
I'm sure there will be a wide support fairly soon (
2027?oh, it's already in all the countries they opted in - and it's per county, not per bank, eg Revolut), especially as Wero gets more adopted for all the things. It's prob already the biggest of them with 50m users.These local solutions (from banks or startups) will get integrated into the system (imho) as intermediaries offering some additional value (idk, credit payments or whatever).
Wizard_Pope@lemmy.world · 2 pts · 130d
I hope they do. I wanna be able to start doing online payment via one of these systems
ExLisper@lemmy.curiana.net · 1 pts · 130d
In what country are you?
Wizard_Pope@lemmy.world · 2 pts · 130d
Slovenia
ExLisper@lemmy.curiana.net · 4 pts · 130d
From what I see it's not part of EuroPA. I think this is up to date:
So this will cooperate with Germany, France and Belgium which have Wero. Will be interesting to see what other countries will do.
timwa@lemmy.snowgoons.ro · 2 pts · 130d
I'm in Romania, and I have never heard of Blik. Maybe it's behind Revolut's instant payments or something?
There is a domestic instant payment solution - RoPay - but I've never actually used it; my bank does occasionally remind me it exists but I've never seen a merchant that accepted it. I would say Revolut's solution I have started to notice - I've used it to pay for flights with WizzAir, for example.
Wizard_Pope@lemmy.world · 1 pts · 130d
I am sincerely hoping they do cooperate.
ViatorOmnium@piefed.social · 7 pts · 130d
It's getting there. Lots of online stores are looking into it now that more banks joined.
timestatic@feddit.org · 3 pts · 130d
Honestly I think long term the digital euro will be the killer even if it takes longer than Wero. Wero is nice in the meantime, adoption will probably take till end of the year and next year tho.
whvholst@feddit.org · 1 pts · 129d
That is somewhat unsurprising since it is a rebranding of the Dutch iDeal system which now is being rolled out elsewhere in the EU.
87Six@lemmy.zip · 1 pts · 130d
Where do we find it? I looked and it's not on Fdroid or Play Store. Am I blind?
Chee_Koala@lemmy.world · 6 pts · 130d
You don't need a specific app for it. It works by sending a payment link, then you finish the transaction in your own banking environment.
87Six@lemmy.zip · 1 pts · 130d
I realised my mistake. This is about payment processors like Visa, Stripe, whatever else, not banks themselves.
I got a bit mind-boggled :-)
whvholst@feddit.org · 46 pts · 130d
The article omits that Wero is running on top of AWS. So still the same problem, just slightly lower in the stack.
alfredon996@feddit.it · 31 pts · 130d
It's easier to replace AWS with a European alternative, than Visa or Mastercard. So the problem is smaller.
whvholst@feddit.org · 5 pts · 129d
True, and I also did not mean to let better be the enemy of good. Just that we're not in the clear yet.
nova_ad_vitum@lemmy.ca · 17 pts · 130d
Centralized problems are generally easier to solve than distributed problems. Depending on their architecture moving to an EU cloud provider could range from tricky but manageable to very painful , but it's a centralized IT problem that can be attacked and solved. Getting every retail vendor to support Wero is much harder, and is being solved apparently.
Evil_Shrubbery@thelemmy.club · 10 pts · 130d
Valid point.
But technically an easier transition to own solutions at some point.
Wero has its roots before the overall critical industry 'digital independence' got enough attention (in the recent year), it was more about solving a specific duopoly (that a lot of banks & startups started solving anyway, just way more fragmented).
qqq@lemmy.world · 2 pts · 130d
I don't know much about the payment processors but I would assume Visa and MasterCard run on their own hardware? Or are they also tied to a cloud provider these days?
elvith@feddit.org · 1 pts · 130d
From a few IPs that I checked, all were served by ASN2559 which would belong to Visa directly. They seem to have a lot of services according to shodan
MasterCard is ASN26380 and has a smaller footprint on shodan, but still many hits
So both seem have their own data centers. Doesn't mean, that they won't use AWS/Azure/GCP/... if they see a benefit.
Bloefz@lemmy.world · 1 pts · 129d
Yes but this is a simple migration away. The system itself and its adoption are far bigger barriers.
Also, when Wero started, Trump hadn't started to set the world on fire yet, so the geopolitical angle was far less pronounced. Until Jan 2025, hosting an EU service on AWS was not controversial.
HiobsTriops@lemmy.world · 1 pts · 130d
While true, the AWS infrastructure in Europe is somewhat sovereign from the parent company and under stricter regulation and oversight. Granted, it's not a perfect solution but a good one for the moment.
https://aws.eu/european-sovereign-cloud/
Noja@sopuli.xyz · 11 pts · 130d
That's a lie, just marketing. See the https://en.wikipedia.org/wiki/CLOUD_Act
null@lemmy.org · 45 pts · 130d
Fuck Visa and Fuck Mastercard, they have no business dictating what people are allowed to buy. Just process the fucking payment.
Evil_Shrubbery@thelemmy.club · 13 pts · 130d
Even without them dictating that having absolute core infrastructure privately owned (and in a foreign country at that) is insane.
Not to mention them being profit driven & expensive.
BenchpressMuyDebil@szmer.info · 41 pts · 130d
No, Wero lets users send money using a smartphone. If there's no desktop interface (like Poland's BLIK) I'm gonna be disappointed. I know India's UPI runs on HMD dumbphones, would be nice to have something like this.
blackbeans@lemmy.zip · 11 pts · 130d
That's a question for your bank. Wero is a system designed for mobile payments between banks, but in 95% of all cases it's your bank implementing it for the user.
Tortellinius@lemmy.world · 3 pts · 129d
Well, it's a law within the EU that instant payments need to be fulfilled within 10 seconds. If you select that after logging into your bank it shouldn't be an issue, though it should be the automatic option, IMO; you shouldn't have to enable it, but rather disable it if you don't wanna send money instantly, and IMO banks should already know this. My only gripe is that most banks in Europe don't have a proper "user account" system. It's more of an address book as opposed to a contacts list. I'd prefer pressing on my peer's name through a search function on the home screen, than needing to select his name from a list after pressing the specific button for it in the menu to send money, which I've already had to press another specific button for; just to reduce the steps needed to send money. I don't see why that is not doable.
Knowing the EU and my country, the reason is "security" by difficulty. Boomer-ass continent.
boonhet@sopuli.xyz · 1 pts · 129d
Revolut has this, if you trust them with your money. I've had no issues over the last 2 years that I've used it, but apparently not everyone can say the same.
Jay101@lemmy.world · 0 pts · 130d
No, you need a smart phone for UPI.
BenchpressMuyDebil@szmer.info · 3 pts · 130d
1s search https://indianexpress.com/article/technology/mobile-tabs/hmd-105-hmd-110-feature-phones-with-built-in-upi-payment-9385611/
Jay101@lemmy.world · 1 pts · 129d
So it doesn't work in every dumb phone. You need specific devices or smartphone.
GreenBeanMachine@lemmy.world · 34 pts · 130d
Jay101@lemmy.world · 33 pts · 130d
When? This has been happening for many years now. Slower than turtle.
Bloefz@lemmy.world · 4 pts · 129d
Yes.. When please :(
Tortellinius@lemmy.world · 4 pts · 129d
I mea, they did release Wero
Bloefz@lemmy.world · 10 pts · 129d
Which does nothing for point of sale at present, it is only vaguely 'planned'.
In Europe we didn't really rely on credit cards for online payments anyway. It was an option but far from the only one. The problem was just that each country had their own system which was a PITA. Wero unifies those. Handy for webmasters, but geopolitically not a gamechanger.
The big problem is PoS payments where MC/Visa are king and basically have a duopoly. I don't know why Wero didn't start with the elephant in the room.
Jay101@lemmy.world · 3 pts · 129d
Yes, Wero is there it is made up of consortium of banks and not unified interface. Also, the adoption itself is very poor.
jnod4@lemmy.ca · 2 pts · 129d
Where? On what platform? How can one install and use such a thing?
boonhet@sopuli.xyz · 4 pts · 129d
I'm gonna disappoint you now.
Personally I can't use it, it's not available in my country. I can however send people money instantly by doing a SEPA Instant transfer, the only "difficult" part about is needing their IBAN, which they can just copy and paste into a messenger app or send via a text if it's a stranger (like the one or two times I've bought a car off a stranger via bank transfer - which mostly there's no need to here as the Estonian transport authority actually has a secure method for that which guarantees that the car's ownership is transferred when the money is transferred - and works via a bank link)
There's been talk of an European payment card system too, but usually people just go "well the individual countries already have their systems so there's no need, Wero is all you need". Which I disagree with, because 1) many EU countries do NOT have a payment card system 2) those systems require you to use your card in your own country mostly. If there was a big EU-wide system, it would more than likely also be accepted in non-EU countries in the future and we could have European cards with the Visa/MasterCard experience where you just go to pretty much any country in the world and your card JUST WORKS. Till that happens, you still need to own a Visa or Mastercard if you want to go abroad, though luckily you can just have a virtual card for that nowadays.
TL;DR: It currently has like two use cases which are already mostly handled well enough by normal bank transfers, which are instant up to like 10k EUR IIRC (might've been more, might've been less) and available much more widely. Though if wero offers consumer protections, it MAY be a bit better in online purchases than a normal transfer - but as long as you only buy from reputable sites, that's not too big of an issue anyway, and there's three and a half online stores that let you buy using wero apparently (this is just what I've heard, can't confirm - it's not available in my country after all)
remon@ani.social · 2 pts · 129d
And there are dozens of websites that accept it. Dozens!
SabinStargem@lemmy.today · 33 pts · 130d
Hopefully, Europe will offer options to Americans. I want to enjoy my perverse media, and to oppose christofascist organizations.
huppakee@piefed.social · 31 pts · 130d
a $24 trillion problem for Visa and Mastercard maybe
verdi@tarte.nuage-libre.fr · 28 pts · 130d
BrickEater@lemmy.world · 11 pts · 130d
Good, as an american, fuck em. I cant wait to see the US crash and burn.
brownsugga@lemmy.world · 5 pts · 130d
You won't have to wait very long
tigeruppercut@lemmy.zip · 4 pts · 130d
Unfortunately dying empires don't go down quietly
BrickEater@lemmy.world · 1 pts · 129d
Yeah I just worry about the power vacuum left over once this bitch crumbles
brownsugga@lemmy.world · 1 pts · 129d
If my country still exists in 2028 there may be hope yet
doodledup@lemmy.world · 1 pts · 130d
Why? I don't understand your perspective here. Shouldn't your interest lie with the country you live in?
BrickEater@lemmy.world · 3 pts · 129d
Yeah it would be if my country had anything worth saving. The US is an international cess-pit that's rotting everything it touches. I've been lower middle class to broke all my life so this shit collapsing is just another day. I feel bad for the children and elderly but overall the people who will get hurt deserve to have their worldviews shatter while the US crumbles under its own cancerous despotic weight. Too many people in my country are too comfortable sitting idly by while we rape and rob the global south and its time for that to end.
cyberpunk007@lemmy.ca · 9 pts · 130d
Europe just seems to be making all the right moves. Made apple go usb-c. This. Privacy laws. And more.
0x0@lemmy.zip · 4 pts · 130d
Some right moves, sure.
Foni@piefed.zip · 8 pts · 130d
In Spain we use bizum and it is becoming a really fast standard, I have even seen it for online commerce
Pip@feddit.org · 7 pts · 130d
Good that the article points out that the US and Chinese providers are already fighting the European alternatives. By occupying other layers of the stack, rendering European digital payment sovereignty impossible. High time to accelerate this!
fierysparrow89@lemmy.world · 6 pts · 130d
Break-up? If only... I hate these stupid exaggerated clickbaity titles.
It's hardly more than a realization of their toxic relationship. But that is indeed the 1st step of change.
NullPointerException@lemmy.ca · 5 pts · 130d
Brazil should advertise PIX.
WaffleHound@lemmy.world · 4 pts · 130d
Norway have BankAxept. I've waited for this. Cut ties!
cabillaud@lemmy.world · 3 pts · 130d
The real wise move is to use cash whenever possible, folks.
Bluegrass_Addict@lemmy.ca · 3 pts · 130d
screw that... trade goods/services for goods/services.
much better approach then letting some fatass gobble everything then control everything like now
nucleative@lemmy.world · -4 pts · 130d
It saddens me that crypto never really became a legit cash replacement. I guess the incumbents are just way too powerful, and Bitcoin kind of got off on the wrong footing.
limonfiesta@lemmy.world · 8 pts · 130d
It hard to replace currency with a speculative commodity.
alfredon996@feddit.it · 6 pts · 130d
Government don't like cryptos, they can't control them so it's normal they won't promote them. But cryptos have come a long way, they are used extensively for cheap cross border transfers and with Proof of Stake we don't need mining any more (and its problematic energy consumption):
lauha@lemmy.world · 1 pts · 130d
What is a legit and currently in use Proof of Stake cryptocoin?
alfredon996@feddit.it · 2 pts · 130d
Ethereum (ETH) and Solana are the most common examples, but there are many more
prole@lemmy.blahaj.zone · 4 pts · 130d
To be fair, bitcoin is trash and crypto proponents shot themselves in the foot by deciding to stick with it as the "flagship" coin for so long.
Evil_Shrubbery@thelemmy.club · 1 pts · 130d
Well, being dependent on a central authority wasn't solved.
And the digital Euro capable of offline transactions (when/if it ever comes) seems just as good.
Crypto did establish itself as a sort of additional alternative value holder tho (like a gold alternative).
prole@lemmy.blahaj.zone · 0 pts · 130d
Sure it was. The only friction point is cashing out to fiat, but nothing is stopping people from doing that independent of a bank or central authority (see localbitcoin and localmonero)
Halcyon@discuss.tchncs.de · 1 pts · 129d
Bitcoin is not scalable enough to be used in general payment transactions. It's simply far too slow. It is not a currency.
0x0@lemmy.zip · 1 pts · 130d
The only cryptocurrency worth its salt is Monero, guess why it's being chased off of most exchanges?