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this post was submitted on 03 Aug 2025
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It's a catch 22. You need a phenomenal amount of capital to stand up a payment network with all those criteria, but anyone with that amount of capital can't actually be trusted not to abuse their position in exactly the same way the existing banking networks have.
Probably not just capital, also political influence and other ways I guess. But yes, it's always a problem if it's like that. If you ask me, there should be a generic independent payment backbone, where many providers could provide payments - like internet or something like that.