this post was submitted on 23 Jul 2023
72 points (93.9% liked)
Technology
59345 readers
5257 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
FedNow isn't a cryptocurrency. It's a real-time funds clearing system, with a centralised ledger. It's not supposed to replace cash, but rather old school bank transfers that take days to clear.
You might be thinking about digital currencies which are something else the Fed is trialling and is not yet very far along.
Wait. Do... Do you guys not have e-transfers? Holy shit, this is why Venmo's a thing, isn't it?
yes, and it's why Venmo won't be a thing much longer. Expect a lot of bitching from Venmo et al in the coming months
Ah gotcha, thanks for clarifying.