@wordshaper I work in payments. The US payment rails are old, cumbersome, insecure, difficult to use, full of corner cases (health care for example), and prone to fraud. Nobody wants to work with them. Especially the parts that involve EBCDIC (hi, Visa!). A lot of these things have been solved in Europe, Asia and Africa by actual innovation. In the US, the VC industry delivered blockchains.
@rgs I remember back in the day we delivered payroll data to the banks on 9-track magtape with EBCDIC coded data in magic record format, though that got upgraded to FTPing EBCDIC coded XML files to the bank. I assume the US has upgraded to… emailing them as attachments or something.
Not that I really want VC involved in the financial industry, but these dudes suck at their jobs so hard you’d think they’d undergo gravitational collapse.
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