this post was submitted on 01 Mar 2025
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DeGoogle Yourself
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You're not going to find something outside of official large companies. The reason they work at all is because the money never goes through your account during that transaction, but between the bank and Google/Apple/whoever. It's all handwaving and trust relationships. A typical tap goes through (basically) these steps.
This is why it's the most secure, because nowhere in that process can anyone intercept anything about you, all they would get is a one-time use token, which is only good from that specific POS system. Even the POS doesn't really get much about you except for what Google/Apple responds with.
It's because of this behind-the-scenes transaction that makes it almost impossible to have an open source version. You would need to convince all of the existing banking infrastructure (who remember still use ~~csv files~~ "wires") to move money around in batches at night to not only implement Google, Apple, and Samsung, but also the open source app that is totally secure and legit, you can trust us.
Not only that, but you immediately open yourself up to issues with money too. Accepting money is easy, sending money out is just 3 1/2 headaches. Not only do you have the risk, you have security and compliance, you have agencies, you have auditing, FINRA, the SEC can get involved, and that's only in America. If you want to go international? Hoo boy, just take all of that neasea and personal liability and turn it up to 1000 because now you have to think about every country and their laws.
So, probably more than you wanted to know, but that's why you're not going to find one.
Source - worked FinTech for about 7 years, learned way too much about finance back then
Cryptocurrency was supposed to solve this problem; instead we ended up with endless grifting and memecoins designed to leave ignorant rubes holding the bag.
Eh, cryptocurrency was never supposed to solve any problem, it was a proof of concept that pariah states realized could enable them to avoid US sanctions. The "it's more secure than banks" talking points were conceived after the fact by the grifters.
I think that’s viewing it from the current lens. At the time, the big promise was that you could pay for things without involving all of those pesky big companies. Naive, yes, but the idea of a secure financial transaction is similar in nature to the current tap/wallet methods. But yes, it was commandeered by crooks almost immediately.
No, this was obvious a decade or more ago and it's still obvious today. I believe it followed the rule that "if there is something only male libertarians like, it's not good".
The story of Bitcoin is the same story as PayPal and Peter thiel and the first X, except the man-children are less famous.
Yeah I'll concede that Satoshi almost certainly had unrealized but aspirational goals for the tech, but speaking personally as far back as I can remember, crypto's primary function was a speculative asset.
My earliest knowledge was 2011, can confirm