this post was submitted on 27 Oct 2023
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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 AnActOfCreation@programming.dev to c/technology@lemmy.world
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“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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[–] A2PKXG@feddit.de 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

[–] gentooer@programming.dev 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.

[–] lemann@lemmy.one 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

[–] gentooer@programming.dev 2 points 1 year ago

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