[Dave Birch] There’s apparently another SEPA out there. It’s the Somali-Ethiopian Payments Area. I see that they appear to have launched a new cross-border high-value payment scheme with real-time settlement. Sort of like Western Union, but with a minimum transaction value of $3 million and no pesky anti-money launder or know-your-customer stuff to get in the way.
Are we already in a world where the only people who really benefit from the existence of $100 bills are criminals? is it really the case that
Physical money is disappearing and we are moving towards a cashless society where hard cash only exists to avoid taxes or to buy illegal services and goods.
If it is, then what are Somali pirates going to do when there’s no cash?
These opinions are my own (I think) and are presented solely in my capacity as an interested member of the general public [posted with ecto]
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I thought SEPA was Scotland’s Environmental Protection Agency, the Solar Electric Power Association … or is it really Serving Europe’s Political Agenda?