this post was submitted on 08 Sep 2023
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For the life of me I can't understand why Canada allows the main mechanism of bank transfers be privately managed (Interac).
A public service concession to a monopolistic company is the worst of all worlds. Well, at least it exists, so it's already better than the real worst of all worlds that is US inter-banking shitfest. Still, being second-to-last isn't occasion for celebration.
Absolutely agree INTERAC should be nationalized. This is why I like CBDCs it's because we'll have the opportunity to further strengthen public sovereignty and interests in our own currency.