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Why the hell would you need a blockchain for automatic payments? Bots that performed financial transactions existed long before “crypto”.
by codeflo 8mo ago
Why the hell would you need a blockchain for automatic payments? Bots that performed financial transactions existed long before “crypto”.
- direwolf20 8mo agoThe ordinary financial system is constrained by a lot of regulation and it won't let an AI open an account.
- BoppreH 8mo agoGood, KYC exists for a reason. Why does AI need to open an account, anyway? Just give it a debit card with a limit, not a whole new account and contract with a bank.
- direwolf20 8mo agoThe limit of a debit card is the money in your account. The bank would argue that an AI using your account on your behalf is fraud.
- BoppreH 8mo agoThose are much easier problems to solve, and surely already solved by some fintechs, than bringing cryptocurrencies to the minimum legal compliance and meeting performance requirements.
- direwolf20 8mo agoThey don't intend to meet the legal compliance requirements. That's the reason for using cryptocurrencies — avoiding compliance.
- Kwpolska 8mo agoMy debit card has specific limits, far less than all my funds. There also exist pre-paid cards, ideal for things like this.
- Spooky23 8mo agoHow unreasonable that I can’t make my computer pretend to be a fiduciary. Those awful regulations won’t let me say the “computer ate my homework”. Imagine.