News for hackers. Stuff that matters.

A comment on Sweden’s central bank says it has begun testing an e-krona. Parent comment

Re:Sweden’s central bank says it has begun testing an e-krona by socialdemocrat on Thursday February 20, 2020 @01:12PM (#22377141)
Most of your money is already on a centralized architecture of you are using a bank. But I agree that a decentralized system would be preferable.

However I can see a benefit in electronic money becoming a public utility rather than being controlled by private companies trying to extract rent.

Visa and MasterCard engage in massive rent extraction.

Would have been nicer with some form of robust international system for money transfer and exchange where middle men could not nickel and dime you the whole way.

[ Parent | on HN ]
Re:Sweden’s central bank says it has begun testing an e-krona by kragen on Thursday February 20, 2020 @03:16PM (#22378174)
> a decentralized system would be preferable. ... a public utility rather than being controlled by private companies ... Would have been nicer with some form of robust international system for money transfer and exchange where middle men could not nickel and dime you

Well, in fact, the system you are describing has existed for 11 years and inspired the Swedish system being discussed here; presumably the attributes you are wishing for are precisely the ones that they want to eliminate by creating their own private system instead of just using Bitcoin.

[ Parent | on HN ]