Sending Money is harder than Sending Pictures of Cats

There's a reason that it is more complicated to send data that is money rather than data that is pictures.

Aug 22

Dateline: Woking, 22nd August 2022.

I was listening to the interesting “Money Reimagined” Consensus 2022 panel discussion from Austin, Texas with Chris Giancarlo, Neha Narula and Emily Parker when I was surprised to hear the Honorable J. Christopher Giancarlo (who is known, apparently, as “CryptoDad” and served as 13th Chairman of the United States Commodity Futures Trading Commission, CFTC) say that

We can send a photo instantaneously at no cost across the globe, why does it cost so much money to move money?

This reminded me of when Mark Zuckerberg told the audience at the Facebook developer event “F8" in 2019 that sending money should be as easy as sending a photo. I was surprised to read that at the time as well, because sending money just isn’t as easy as sending photos. No matter who says it should be, it is not.

In the future, everyone will be famous for 15Mb

Sending Money is harder than Sending Pictures of Cats

There's a reason that it is more complicated to send data that is money rather than data that is pictures.

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