You know what would be a million times more useful than cryptocurrency? An open, standardized banking and payments API.

Cryptocurrency may be a terrible solution, but the problem it "solves" is legitimate: it's too hard to build innovative products with existing financial tech.


Like banking apps. I won't switch banks over interest rates or credit card rewards but I will ABSOLUTELY switch over the quality of their app. If there was a standard API, those would be separate decisions.

And payments. Imagine if we had federated payments (we used to, back in the days of writing checks). It would open up so many possibilities.

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