- cross-posted to:
- europe@feddit.org
- cross-posted to:
- europe@feddit.org
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It saddens me that crypto never really became a legit cash replacement. I guess the incumbents are just way too powerful, and Bitcoin kind of got off on the wrong footing.
Well, being dependent on a central authority wasn’t solved.
And the digital Euro capable of offline transactions (when/if it ever comes) seems just as good.
Crypto did establish itself as a sort of additional alternative value holder tho (like a gold alternative).
Well, being dependent on a central authority wasn’t solved.
Sure it was. The only friction point is cashing out to fiat, but nothing is stopping people from doing that independent of a bank or central authority (see localbitcoin and localmonero)
To be fair, bitcoin is trash and crypto proponents shot themselves in the foot by deciding to stick with it as the “flagship” coin for so long.
It hard to replace currency with a speculative commodity.
Government don’t like cryptos, they can’t control them so it’s normal they won’t promote them. But cryptos have come a long way, they are used extensively for cheap cross border transfers and with Proof of Stake we don’t need mining any more (and its problematic energy consumption):
What is a legit and currently in use Proof of Stake cryptocoin?
Ethereum (ETH) and Solana are the most common examples, but there are many more
a $24 trillion problem for Visa and Mastercard maybe
It’s a serious problem, but not for Europe. Fuck US megacorps.
The real wise move is to use cash whenever possible, folks.
screw that… trade goods/services for goods/services.
much better approach then letting some fatass gobble everything then control everything like now
In Spain we use bizum and it is becoming a really fast standard, I have even seen it for online commerce
I’ve been using Wero for a while. What’s missing are vendors that accept it online, also when hiring a car.
I hope Wero becomes a EU standard. Sadly our banks have their own system Flik bu the issue is you literally cannot use it to pay anywhere. But they refuse tp accept wero due to having their own system.
It’s pretty much clear that it will not. Wero was late and most countries already have their own systems. They all signed an agreement last year to work on integrations. Wero will not replace all of them. Which is good because Wero is controlled mostly by German and French banks.
Well that would work as well. But afaik our current banks have not joined any integration programs it was just a few nations that did. Bit in the end if they all integrate and I am able to use our own system to pay in most pf the EU I don’t really care. As long as it works.
Afaik there is a schedule, atm it’s not EU wide yet.
I’m sure there will be a wide support fairly soon (
2027?oh, it’s already in all the countries they opted in - and it’s per county, not per bank, eg Revolut), especially as Wero gets more adopted for all the things. It’s prob already the biggest of them with 50m users.These local solutions (from banks or startups) will get integrated into the system (imho) as intermediaries offering some additional value (idk, credit payments or whatever).
I hope they do. I wanna be able to start doing online payment via one of these systems
In what country are you?
Slovenia
From what I see it’s not part of EuroPA. I think this is up to date:
So this will cooperate with Germany, France and Belgium which have Wero. Will be interesting to see what other countries will do.
I’m in Romania, and I have never heard of Blik. Maybe it’s behind Revolut’s instant payments or something?
There is a domestic instant payment solution - RoPay - but I’ve never actually used it; my bank does occasionally remind me it exists but I’ve never seen a merchant that accepted it. I would say Revolut’s solution I have started to notice - I’ve used it to pay for flights with WizzAir, for example.
I would much prefer a digital euro based on GNU Taler, but I guess Wero might at least be better than the status quo
I am conflicted on the digital euro. But a mastercard/visa alternative is 100% needed
It’s getting there. Lots of online stores are looking into it now that more banks joined.
Honestly I think long term the digital euro will be the killer even if it takes longer than Wero. Wero is nice in the meantime, adoption will probably take till end of the year and next year tho.
Where do we find it? I looked and it’s not on Fdroid or Play Store. Am I blind?
You don’t need a specific app for it. It works by sending a payment link, then you finish the transaction in your own banking environment.
Fuck Visa and Fuck Mastercard, they have no business dictating what people are allowed to buy. Just process the fucking payment.
Even without them dictating that having absolute core infrastructure privately owned (and in a foreign country at that) is insane.
Not to mention them being profit driven & expensive.
Fund tranfering should be a gov service provided at cost and maintained as a partnership between nations to make commerce easy for their citizens.
Profit shouldn’t even be a concern.
(gov provided) services should never be for profit
government = people who live in the country. So government services are literally by the people for the people. trying to profit from them is like having a parasite.
For bank transfers this is already a thing, it’s called SEPA. Transfers are instant and free (to the user at least, no idea if the banks have to pay).
But yes, there should be an equivalent thing for in-person payments too.
Brazilian Pix be like:
A few years back I remember who I believe was a commission leader in Brussels commenting on Pix along the lines of: Pix has given banking access to many Brazilians. We already have a very high quota in Europe, so we will not need an equivalent system… I don’t think there’s much interest in the political sphere for a publicly run solution like this.
Pix had anything to do with banking access. You need to have a bank account to have access to pix. Pix is a money transfer system, that is free for individual users and extremely cheap for companies, controlled by the central bank that works instantly 24/7.
Edit: is also mandatory for banks and financial institutions so everyone has it
But think of the poor banks and card companies!!
Good, as an american, fuck em. I cant wait to see the US crash and burn.
Why? I don’t understand your perspective here. Shouldn’t your interest lie with the country you live in?
Yeah it would be if my country had anything worth saving. The US is an international cess-pit that’s rotting everything it touches. I’ve been lower middle class to broke all my life so this shit collapsing is just another day. I feel bad for the children and elderly but overall the people who will get hurt deserve to have their worldviews shatter while the US crumbles under its own cancerous despotic weight. Too many people in my country are too comfortable sitting idly by while we rape and rob the global south and its time for that to end.
You won’t have to wait very long
Yeah I just worry about the power vacuum left over once this bitch crumbles
Unfortunately dying empires don’t go down quietly
It’s a $24 trillion opportunity, that Americans are gonna lose.
Brazil should advertise PIX.
Break-up? If only… I hate these stupid exaggerated clickbaity titles.
It’s hardly more than a realization of their toxic relationship. But that is indeed the 1st step of change.
Wero lets users send money using just a phone number
No, Wero lets users send money using a smartphone. If there’s no desktop interface (like Poland’s BLIK) I’m gonna be disappointed. I know India’s UPI runs on HMD dumbphones, would be nice to have something like this.
That’s a question for your bank. Wero is a system designed for mobile payments between banks, but in 95% of all cases it’s your bank implementing it for the user.
Well, it’s a law within the EU that instant payments need to be fulfilled within 10 seconds. If you select that after logging into your bank it shouldn’t be an issue, though it should be the automatic option, IMO; you shouldn’t have to enable it, but rather disable it if you don’t wanna send money instantly, and IMO banks should already know this. My only gripe is that most banks in Europe don’t have a proper “user account” system. It’s more of an address book as opposed to a contacts list. I’d prefer pressing on my peer’s name through a search function on the home screen, than needing to select his name from a list after pressing the specific button for it in the menu to send money, which I’ve already had to press another specific button for; just to reduce the steps needed to send money. I don’t see why that is not doable.
Knowing the EU and my country, the reason is “security” by difficulty. Boomer-ass continent.
No, you need a smart phone for UPI.
So it doesn’t work in every dumb phone. You need specific devices or smartphone.
Hopefully, Europe will offer options to Americans. I want to enjoy my perverse media, and to oppose christofascist organizations.
I don’t see how breaking up with US payment systems is a problem, let alone a 24 trillion problem. Sounds like something good. The article (don’t laugh, but I have read it) states the same.
This guy read the article before he commented, everyone laugh at him!
Ha ha!
You’re not better: you have read a comment in full before answering to it. Shameful!
Wait, you guys can read?
And my axe!
I can’t even write
Thanks for asking, the weather is pretty nice today.
Am so better!
edit: tldr
I feel like whoever wrote the headline fucked it up, because the article reads more like that Visa/MasterCard payments are a 24 trillion problem, and wero is a potential solution.
It’s a problem for visa and mastercard, I guess 🤷♀️ certainly not for Europe…
Because its relative. Its good for the EU because it’s taking that market back, its bad for the US because its losing that market.
