Roblox pays 26% of its revenue to Apple/Google for payment processing. We need better alternatives now.

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[–]Canbot 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 2 fun -  (7 children)

We already have credit unions. Why don't the credit unions provide electronic payment services that don't rely on Visa or mastercard? They could easily get together and set up a blockchain system that would be nearly free to use, exclusive to credit unions protecting it from manipulation and abuse, and easily accessed through phone apps. Zelle already exists. You can have credit unions support another system just like that and completely circumvent the banking/tech cartels.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (3 children)

We need to boycott the banks and use credit unions whenever we can.

It would be a good idea to have an electronic payment service mutually-owned by credit unions, which are themselves owned by the People. I'd use it, and so would many businesses if it saved them money — so long as it uses the US Dollar and other common currencies.

Ideally we'd ban for-profit banks and usury, and organize the finance industry into a guild, which owns the means of payment, and can self-regulate instead of relying on corrupt, and often ignorant, politicians to solve industry-specific problems. But that's probably just a corporatist pipe dream.

[–]JasonCarswellDAT Mod 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (2 children)

Not just one "electronic payment service mutually-owned by credit unions" - but a network of them, one (or more) for each to decentralize it all. Much of this is just digital stuff that can largely be duplicated with specific variations, including different currencies, protocols, networks, security measures, priorities, etc.

It might even be worth developing a system (or more) for every person and their unique interests.

Federations and guilds can be good, but they could also potentially be corrupted like any other tribalist groups and ideologies. Transparency and openness is critical.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

A P2P system would probably be ideal, but I don't know how the logistics would work out.

[–]JasonCarswellDAT Mod 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

Agreed. There's much to be determined. It seems like some folks are on it, and some who shouldn't be are too - so remain vigilant.

[–]JasonCarswellDAT Mod 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (2 children)

As far as I know, credit unions, trusts, etc. in Canada have strict regulations on what they're allowed to do. The banks need to maintain their dominance after all.

On the other hand, IMO, we should be trying to establish our own alternative virtual systems independent of all these establishment slave systems.

Thanks for introducing me to Zelle. I'll add it to /s/DecentralizeAllThings/wiki

[–]Canbot 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

Zelle is owned by the banks. It's not really decentralized.

[–]JasonCarswellDAT Mod 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

I noticed something like that - ie. non-censored Wikipedia page.

I guess I should distinguish the difference between "alternatives" and "decentralized alternatives". Alternatives are better than supporting the giant monopolies, but inevitably unless they are actually bottom up they're still just serving the ruling class.