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Originally Posted by indes
I agree entirely! That's why CBDCs will be so big. It's also why I bring up XRP (ripple) as they have the framework in place to allow countries and businesses to seamlessly exchange money.
No more pre funding foreign accounts or waiting 3-5 business days to get money. No more 20$ wire transfers, or 3000$ e-transfer limit. Crypto and blockchain technology will be integrated into everything eventually. It's literally the next internet.
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I can see the fee's reducing but work still has to be paid for. I can't see wait times reducing unless 'we' are prepared to live with a shed load of fraud ditto the 3000 limit, I think we lose track of the fact these annoyances exist for a reason, a bank outside Canada has no recourse at all if I rip them off, if I write them a bad cheque there is nothing they can do legally to get the money back, that is why they are so 'slow' to hand out money to foreigners, they have to 'see' the money first