Comment by artk42

> A coalition of 16 banks thinks it has the answer.

Oh! That's exactly what we all needed - 16 banks suggest their own "system", even more crude and clumsy imitation of the surveillance standards of payment systems and marketplaces, which shielded banks from snitching clients' consumption patterns.

They don't need anything advanced like Apple Pay layered tokenizations that at least respects a little of privacy. Everything is linked to a single phone (the article states that the focus is on Bizum and those pathetic peer-to-peer payment systems). The banks are in good shape to capture data, the tax authorities have a clear picture of how to squeeze the plebs even more - nice.

How about stablecoins with native yield from ECB treasuries? It solves everything and costs nothing. But we see what happens in US - "treasuries spread is not for plebs", - banks say.