Signal adds a payments feature with a privacy-focused cryptocurrency

(www.wired.com)

544 points josh2600 | 1 comments | 06 Apr 21 16:23 UTC | HN request time: 0.308s | source

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edent ◴[06 Apr 21 17:13 UTC] No.26714541[source]▶

The UK already has faster payments in all major banks. I can send and receive money instantly from app or Web. Will yours be as fast as that?

The UK has a problem with authorised push payment fraud. Banks can recover funds which have been sent as a result of phishing / fraud. How can I reverse a payment on your platform if it was fraudulent?

The UK also has receiver verification. If I try to send to an account and it doesn't match the name I'm sending to, my bank will warn me. How do you stop impersonation?

There's no cost to sending payments on most mainstream banks. How much do you charge?

Most banks let the user block receiving payments from specific accounts. How do you stop harassers sending unwanted money?

Thanks!

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leetcrew ◴[06 Apr 21 20:47 UTC] No.26717200[source]▶

>>26714541 #

> How do you stop harassers sending unwanted money?

idk, but this sounds like a great problem to have.

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1. kevingadd ◴[06 Apr 21 23:00 UTC] No.26718438[source]▶

>>26717200 #

Accepting unwanted money from someone can have serious consequences in many cases. In some cases it is illegal - for example, accepting certain types of political donations.

In cases where you've been sent unwanted money your obligation is typically to return it, but that specific type of use-case is often not considered when people design things. If you end up in a situation where anyone can send you money and you can't return it, you're in big trouble because the sender might be causing you to unintentionally get involved in a violation of the law and leave you without any method to undo it.

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