“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”

Well that sounds terrifying!

  • CmdrShepard@lemmy.one
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    1 year ago

    Somehow services like PayPal manage to avoid being regulated like a bank. I’m sure they’ll clobber cobble together some potentially unlawful solution and not face any repercussions for it.

    • someguy3@lemmy.ca
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      1 year ago

      I think because they’re a payment processor. Banks store large amounts of money, make loans, etc.

      • givesomefucks@lemmy.world
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        1 year ago

        It’s going to be like a crypto or PayPal wallet where you can store a balance, it’s just not insured or regulated like a bank.

        I saw an article a while ago where a concerning amount of people were doing that instead of a bank account.

      • harmonea@kbin.social
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        1 year ago

        “Clobber” implies violence, which is somehow even less elegant than the standard phrase that the haphazard “cobble” implies. Given the shitshow of X so far, clobber probably works better even if it’s not the usual way to phrase this at all.

        • Bizarroland@kbin.social
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          1 year ago

          And despite cobble and clobber implying violence and inelegance, cobblers are either some of the best versions of pies or the people that maintain your fanciest of shoes.