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325 points jemmyw | 3 comments | | HN request time: 0.592s | source
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htrp ◴[] No.45766593[source]
It feels like particularly in finance, that startups who disrupt traditional players do so without a full understanding of all the corner cases and none of the regulatory accountability which is why those traditional finance players were so expensive in the first place.
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mjcl ◴[] No.45766906[source]
Not even corner cases. I worked for a fintech that launched a dda-ish product that had 16 digit account numbers, issued sequentially, with no check digits. At launch there didn't seem to be a CS process for dealing with pretty obvious "customer mistyped account number and sent their money to some else's account." problem.
replies(1): >>45768004 #
1. dboreham ◴[] No.45768004[source]
Feature parity with blockchains.
replies(2): >>45772954 #>>45778905 #
2. solarwindy ◴[] No.45772954[source]
Uh, no, most crypto wallet addresses have either a checksum or some other means of typo detection / prevention.
3. mjcl ◴[] No.45778905[source]
Not even, in cases where the company couldn't recover funds from misdirected payments they ate the loss. Though obviously I think that's a good thing.