this post was submitted on 27 Oct 2023
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692
Elon Musk gives X employees one year to replace your bank - ‘You won’t need a bank account... it would blow my mind if we don’t have that rolled out by the end of next year.’ (www.theverge.com)
submitted 1 year ago by [email protected] to c/[email protected]
333 comments fedilink hide all child comments
 

“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!

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[–] [email protected] 14 points 1 year ago (1 children)

The thing about from financial transactions is:

a) governments will insist on regulation and influence

b) the recipient needs to use the same system.

If my landlord and my brokerage aren't on TwitterFinance, there's no way to use it to send them money

[–] [email protected] 3 points 1 year ago (1 children)

If TwitterFinance is a bank you can just send money via bank transfer, right? The same way I send my friend who uses another bank some euros after a dinner.

[–] [email protected] 2 points 1 year ago (1 children)

Depends on whether the twitter thing turns out to be a PayPal, Cashapp or an actual bank... if he makes it a Cashapp then direct bank transfers are off the table AFAIK

[–] [email protected] 2 points 1 year ago

O, I see. I've never used PayPal or Cashapp, so I learned something new today!