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.

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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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