Nat Emodi
@emodi
FedNow launch seems like a step change improvement that’s broadly under discussed within crypto (seeing a lot of it within fintech) tldr: for Americans it enables p2p, b2b, p2b etc instant payments, will be available 24/7/365, & gives full access to funds immediately Isn’t this the future DeFi is promising?
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Zach
@zach
<3 FedNow That said, there are a lot of barriers to overcome before FN can go mainstream. FedNow: - Does not interoperate with RTP - Has very few banks using it - Is not optimized for consumer conversion - Lacks a dispute mechanism - Needs better fraud tools All solveable, but much work.
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Tayyab - d/acc
@tayyab
I think we, in crypto, have our bags tied up here. So many of us won’t be pro FedNow. Though, it’s clearly for 95% of America a net positive (already subject to ctz censors). At the same time decentralization doesn’t matter, until it does.
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Cameron Armstrong
@cameron
It really all depends on the parties that get access to build on it. That will shape all the tools/products that come out of it.
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𒂠_𒍣𒅀_𒊑
@m-j-r
as long as crypto adapts by adding those rails as an option. in terms of centralization & censorship, it definitely has tradeoffs as a panacea. I've heard that it's been due relative to the rails other cpuntries have.
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tldr (tim reilly)
@tldr
It’s more like “eFi” —> ✅ Efficient, it is ❌ Decentralized, it surely is not
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Mac Budkowski ᵏ
@macbudkowski
Big part of though: 1) DeFi is global, 2) It's about the government not blocking access to your money, 3) Apps and programmability are key. That said if the DeFi community remain focused on hamsters instead of real innovation that will show why 1)-3) matters, its going to be really painful.
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