“Commonwealth Bank customers will now have access to Samsung’s contactless payments platform, Samsung Pay… Today’s announcement follows CBA’s partnership with Google in November to offer Android Pay on compatible devices at almost 800,000 stores across Australia. CBA customers have also been able to make payments on the go with Fitbit and Garmin’s new payment-enabled smartwatches.”Ok, but Samsung pay is a protocol used by our smartphones.
We can extract the protocol and make it a notary call from pipeline control. Hence, Commonwealth Bank releases bearer fiat cash into sandbox.
Bearer assets cannot be stopped. The fiaters will adopt a pipeline notary for Swift and own all of their protocol chain. All central bankers will jump in, lead along by Ripple Labs. This is done deal by now, the impact of spectre has gone up the chain.
But wait, the bank requires biometrics when spending. OK, I transfer once, to pipeline control, but still give up my smartphone to the notary. My money is transferred to my pipeline contract. From the bank's point of view this is like a transfer to a lawyers trust, a transfer to Sandbox pipeline Trust and Escrow, a service organization run by human notaries.
Obviously, the fiat bank want to be its own node in pipeline control. So the bans will simply offer pipelined accounts, for the whole fee.
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