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Are you sure it needs instant value transfer?

Sometimes it's better to wait. Sometimes there are hidden advantages to having to wait.

I can think of many. I don't think the world will become a more fair place when we get instant value transfer. Probably less fair, frequently.

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1 hour ago, Vader-DeWelt said:

I can think of many. I don't think the world will become a more fair place when we get instant value transfer. Probably less fair, frequently.

Care to elaborate that a bit?

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15 minutes ago, zenkert said:

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If not, others will do it. ๏ปฟ

Completely agree.ย 

Those that do not stand to gain will resist innovation; history is fairly clear on what happens to organizations that choose to resist technological change instead of adapt.ย 

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10 minutes ago, zenkert said:

Care to elaborate that a bit?

No. Instead I will just mention that transfer of value is often accompanied by legally binding contracts. Most of the time people can't just create these contracts on their own, they need to be represented by people who are sanctioned. Fast transfer of value can facilitate abuse of fiduciary duties.

Now. I know this isn't a popular position around these parts. I don't have time to read to all the outcry. Instead of responding to me and extending a completely pointless conversation you should just think about what I'm saying.

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Just now, Hodor said:

Completely agree.ย 

Those that do not stand to gain will resist innovation; history is fairly clear on what happens to organizations that choose to resist technological change instead of adapt.ย 

So true.

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18 minutes ago, Vader-DeWelt said:

No. Instead I will just mention that transfer of value is often accompanied by legally binding contracts. Most of the time people can't just create these contracts on their own, they need to be represented by people who are sanctioned. Fast transfer of value can facilitate abuse of fiduciary๏ปฟ duties๏ปฟ.

Now. I know this isn't a popular position around these parts. I don't have time to read to all the outcry. Instead of responding to me and extending a completely pointless conversation you should just think about what I'm saying.๏ปฟ

In plain english, you mean like, it would be easier to scam people if value became easier to transfer instantaneously ?

I would presume that one would validate contracts first and ensure everything is above board before attempting to transfer value and execute contract terms ?.. so from my perspective having the capability for instantaneous value transfer has absolutely nothing to do with fiduciary duties..

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46 minutes ago, Vader-DeWelt said:

No. Instead I will just mention that transfer of value is often accompanied by legally binding contracts. Most of the time people can't just create these contracts on their own, they need to be represented by people who are sanctioned. Fast transfer of value can facilitate abuse of fiduciary duties.

Now. I know this isn't a popular position around these parts. I don't have time to read to all the outcry. Instead of responding to me and extending a completely pointless conversation you should just think about what I'm saying.

Every technology can be used for good andย  bad, kid.

And indeed, it's better not to reply to you. :)ย 

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morgan freeman applause GIF by The Academy Awards

Very nice @Hodorย , a ledgend applauding a ledgendย :).ย 

"All banks - including these large correspondence banks - must either change, or face a rapidly - declining market share." Thats it really, It's a case of the haves and the have nots. You either have the technology to service my requirements or I go somewhere else.ย  Banking nowadays your just a number,ย  you hardly go in to a bank, the teller doesn't know your name or banking history so what loyalty do we on them , Nothing !ย  A great read as always with my coffee, thanksย very much appreciated.ย 

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