Absolutely. It was an excellent system a hundred years ago.
They failed to expand the postal service into telecommunications between 1890 and 1940, leading to AT&T’s monopoly on the phone system until 1982. They failed to expand their money transfer system into consumer-oriented electronic banking services in the 1990s, leaving Visa and Mastercard with a stranglehold on payment processing. We’ll have to break them apart soon.
I’d argue that is what it became, not what it started as or should be.
Absolutely. It was an excellent system a hundred years ago.
They failed to expand the postal service into telecommunications between 1890 and 1940, leading to AT&T’s monopoly on the phone system until 1982. They failed to expand their money transfer system into consumer-oriented electronic banking services in the 1990s, leaving Visa and Mastercard with a stranglehold on payment processing. We’ll have to break them apart soon.