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Our payment systems are too dependent on the USA (omni.se)

submitted 5 months ago* (last edited 5 months ago) by DreasNil@feddit.nu to c/buyeuropean@feddit.uk

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The governor of the Central Bank of Sweden comments our payment systems.

Here’s an AI translation of the text into English:

"Given the geopolitical situation, it is important to create European systems in a number of areas. This is according to Riksbank Governor Erik Thedéen in an interview with Ekot’s Saturday program, where he emphasizes that Sweden’s payment systems should not be as dependent on the USA as they have been. As an example, he points out that the two dominant credit card issuers, Mastercard and Visa, are American. 'It is probably wise to consider that we should also have European or Swedish systems that function in case the American ones do not,' he says. According to the central bank governor, Swish is 'a certain complement.' He also highlights that other countries, such as Denmark, have their own national credit cards."

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[-] kubofhromoslav@lemmy.world 3 points 5 months ago

For years I am watching the cryptocurrency Nano ($XNO). As many cryptocurrencies, it is free / libre / open source, decentralized (belongs to no nation). But it is also totally without fees (I haven't believed it but checked and it is really true), super fast (full confirmation under 1 second) and super energy efficient (on par with usual bank card transaction). And the guys beyond it are there for the original goal of crypto - enabling independent money usage - while also explicitly distancing themselves from speculative "investing".

But it is not yet "commercial grade", so big companies are for now not encouraged to use it for high throughput use cases. And it is also not yet widely accepted by vendors, and widely owned by paying customers. Basically the chicken and egg problem...

[-] explodicle@sh.itjust.works 2 points 5 months ago

Nano had centralized issuance with CAPTCHAs administered by a private organization. This means they could have given themselves >51% of the total supply at no cost by lying.

It's unreasonable to expect the people of Europe to trust crypto bros that much.

this post was submitted on 20 Dec 2025

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