Yesterday money took a holiday for many people. Isn't that a bit odd?
Columbus Day is celebrated (more or less) in many countries in the Americas as well as Italy. Cristoforo Colombo was an Italian after all (a citizen of the Republic of Genoa).
This is all very well for history and culture but it struck me as a bit odd this year after gaining more perspective on blockchain technology and cryptocurrencies.
Does money really need a holiday?
If you sent -or are expecting to receive- funds through the traditional banking system in a locale where banks close for Columbus Day you now have an additional 1 day delay in the transaction. At least I know that's what's happening to one of my business transactions right now.
This isn't something one would expect when transacting in Bitcoin, sending some ether or tipping a fellow Steemian. Maybe Bitcoin transactions take longer than those on STEEM but they're super-fast compared to an ACH, right? No Columbus Day holidays either.
Imagine the annoyance and inefficiency if your internet connection paused very weekend and on some holidays. Maybe your electricity too. Oddly this is just how things are with money and banking.
That's changing though and it will be interesting to see what the future holds in a world where money is "always on."
What Do You Say?
- Are we close to widespread, "always on" money?
- Did the Columbus Day holiday delay anything for you?