- cross-posted to:
- technology@beehaw.org
- cross-posted to:
- technology@beehaw.org
“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!
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.
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