Elon Musk gives X employees one year to replace your bank
www.theverge.com
Musk wants your “entire financial life” on his platform.

“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”

Well that sounds terrifying!

  • doctorcrimson@lemmy.todayEnglish
    1·
    2 years ago

    Sounds exactly like when your employer wants you to sign up for those stupid paycard accounts instead of fill out a direct deposit form.

  • Max-P@lemmy.max-p.meEnglish
    0·
    2 years ago

    Lets put all our money on a platform rushed in under a year made from an exhausted and abused team of engineers. That sounds like a great idea. Definitely will be well thought out and reliable.

    • hh93@lemm.eeEnglish
      01·
      2 years ago

      Not to mention identity fraud already being commons there

      For sure fraud won't be totally rampant…

      Also I think the hardest part of being a bank is the shitton of regulations (especially in Europe) and not the software.

      Twitter might need to hire a lot of experts and lawyers in that field to make it work.

      Also banks are all about trust - and that's precisely what Elon lost for most people in the last year

  • fosforus@sopuli.xyzEnglish
    01·
    2 years ago

    I suppose this doesn't feel weird to anyone who lives in China. They have a Whatsapp -clone called Wechat, and it's pretty much exactly what Musk wants X to be able to be.

    Which indeed should scare you.