> With a third party layer, banks don't need to reinvent the wheel. With a gover... | Hacker News

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		Aeolun on Oct 29, 2021 \| parent \| context \| favorite \| on: Financial innovations brought by technology > With a third party layer, banks don't need to reinvent the wheel. With a government mandated transfer method, nobody needs to, and all banks are interoperable. I personally really like my bank transfers between any bank in the Netherlands being near instant.

jslove on Oct 30, 2021 [–]

Japan has had this since the late 1970s/early 80s.

Real time settlement isn't really an innovation. Its just something the banks fight to protect their float.

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