The EU state machinery is gearing up to build digital wallets for all. Big money, big pilot projects into the billions. Lots of money to be made for vendors. But if you take a hard look, it can be done more easily and simpler with #nostr and #bitcoin
Further, they haven’t figured out to integrate payments; the approach is to create another ‘verifiable credential’ that goes into your ‘digital wallet’ to authenticate to existing payment systems.
Meanwhile, with #nostr, we’ve integrated digital payments and have decoupled the trust infrastructure into components that enable permissionless, but verifiable components, so you can trust on your own terms. Not so, with the above, and they are perfectly fine with that, and the majority of the population is completely oblivious.
It’s a long game here, but I see the winning elements, here, not over in the other side, where there is big money to be made, but at the expense of the individual citizen.
Tim Bouma
npub1q6…nx7d5
2024-09-13 17:07:09
in reply to nevent1q…47t5
Author Public Key
npub1q6mcr8tlr3l4gus3sfnw6772s7zae6hqncmw5wj27ejud5wcxf7q0nx7d5Published at
2024-09-13 17:07:09Event JSON
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"content": "The EU state machinery is gearing up to build digital wallets for all. Big money, big pilot projects into the billions. Lots of money to be made for vendors. But if you take a hard look, it can be done more easily and simpler with #nostr and #bitcoin\n\nFurther, they haven’t figured out to integrate payments; the approach is to create another ‘verifiable credential’ that goes into your ‘digital wallet’ to authenticate to existing payment systems.\n\nMeanwhile, with #nostr, we’ve integrated digital payments and have decoupled the trust infrastructure into components that enable permissionless, but verifiable components, so you can trust on your own terms. Not so, with the above, and they are perfectly fine with that, and the majority of the population is completely oblivious. \n\nIt’s a long game here, but I see the winning elements, here, not over in the other side, where there is big money to be made, but at the expense of the individual citizen.",
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