> Why exactly Australians need a peer-to-peer payments system isn’t exactly clear...
Probably as the first steps towards removing cash. Cash must be such a pain for a government, I'm surprised it is still around.
Probably as the first steps towards removing cash. Cash must be such a pain for a government, I'm surprised it is still around.
Unfortunately making cash digital is quite hard (you could argue that zcash and zcoin will solve this problem but I'm not so sure).
Can you elaborate on that? I'm curious what the points are.
The purpose was to make it harder to commit fraud, though it also makes it kinda difficult to legitimately bootstrap your ID when you're a minor (or if you're an immigrant).
https://en.wikipedia.org/wiki/100_point_check
http://www.police.nsw.gov.au/__data/assets/pdf_file/0020/133...
Or a slacker: I somehow scraped up 100 points to get a passport, then didn't have photo ID to collect it from the post office. I had to point to the packet & say, I need to open the packet to be able to show you the photo ID you need to see before you can release the packet to me.