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A comment on Mass Layoffs and Absentee Bosses Create a Morale Crisis at Meta. Parent comment

Re:Mass Layoffs and Absentee Bosses Create a Morale Crisis a... by JumpCrisscross on Wednesday April 12, 2023 @12:28PM (#35542342)
To give credit where it’s due, crypto spurred the Fed to launch FedNOW.
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Re:Mass Layoffs and Absentee Bosses Create a Morale Crisis a... by ly3xqhl8g9 on Wednesday April 12, 2023 @12:39PM (#35542524)
Just by the look of it [1] and the menacing hero question "Is your organization ready?" I fear something similar to the IRS tax filing [2] will happen: instead of having an open API usable by any easily-authenticable entity, only a few backroom deals will grant access to it.

[1] https://www.frbservices.org/financial-services/fednow

[2] https://www.irs.gov/tax-professionals/choosing-a-tax-profess...

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Re:Mass Layoffs and Absentee Bosses Create a Morale Crisis a... by JumpCrisscross on Wednesday April 12, 2023 @12:47PM (#35542657)
> instead of having an open API usable by any easily-authenticable entity

It’s intentionally mediated through banks. We don’t want to create a money-laundering system—that is an explicit lesson learned from crypto. (We also want a layer that can absorb fraud. Another lesson from crypto.) But there are banks who will API it for KYC’d clients.

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