Comment by superzamp

Coincidentally written something about this yesterday [1], but the gist of my take summed up is that the nature of accounting oriented data models doesn’t help when dealing with multiple FBO accounts.

The main problem is that accounting defaults to full fungibility of monetary amounts represented in a ledger, which has the effect of losing track of the precise mapping between assets and liabilities, so you end up in a position where you simply cannot tell precisely to a bank _who_ are the actual customers they owe money to.

[1] https://www.formance.com/blog/engineering/warehousing-promis...