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Japan payments clearing system glitch hits 11 banks

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Hacked…

2 ( +9 / -7 )

Hopefully they were not hacked in some way.

Anyway, this is kind of related to the increasingly cashless society being pushed on us by the mostly elected Powers That Be, increasingly under the guise that cash can easily used for money laundering or by terrorists and other rouge actors.

Imagine If everything were completely cashless? All it takes is an outage, for a day or two and there'd be chaos.

Keep cash and gold and your freedom, people.

10 ( +15 / -5 )

It won't be down 100%, they'll start using their backup system which is fax system when they have glitches.

-9 ( +11 / -20 )

Above: elected Powers That Be = Unelected Powers That Be. Now it should make sense. Ops.

4 ( +10 / -6 )

Imagine If everything were completely cashless? All it takes is an outage, for a day or two and there'd be chaos.

Canada is not cashless, but I don't really know anyone that still uses cash. It's a de-facto cashless society by practice. Last year, there was an outage, and a LOT of people (myself included) were left unable to pay for anything for a mornin. It was a real disaster.

https://www.cnbc.com/2022/07/08/rogers-network-outage-across-canada-hit-banks-businesses-and-consumers.html

I keep a $20 in my wallet always now.

7 ( +9 / -2 )

This is why cashless should never be contemplated.

Japan's payments clearing network suffered a system problem Tuesday, disrupting some fund transfers at 11 banks including MUFG Bank and impacting their customers, the network's operator said.

Cash always works! How many people went hungry, unable to pay bills on time, put out by having to go back to try and pay again later.

There are many links in the chain when paying digitally. Any one link goes down and the payment chain fails. Cash never stops working and never goes "down".

10 ( +15 / -5 )

Sounds like summats been hacked…..

………..other rouge actors

Yes, those damn luvvies.

I know one who is still searching for a White Fiver from Larry. (Olivier)

1 ( +3 / -2 )

again...

-2 ( +3 / -5 )

Glitch-translation- Skim hack. Hacked by North Korea again?

-4 ( +3 / -7 )

meanwhile:

Kishida pledges to support AI development in next economic package

https://japantoday.com/category/tech/kishida-vows-to-support-ai-development-in-next-economic-package

ATM machines keep breaking apart.

There's no chance these people will ever grasp the knowledge to use a Neural Network.

-5 ( +2 / -7 )

Ooopssssss.

-2 ( +2 / -4 )

Zengin system???

Is it a Chinese system or just a name?

-6 ( +1 / -7 )

全銀 = all banks

5 ( +5 / -0 )

Push for cashless is more around information on your spending habits rather than controling if you can spend; at least interns of jp. But then again I don't think japan is really going cashless anytime soon.

2 ( +3 / -1 )

You can sort of see the utility in the old Hanako on paper system when you think about the sophistication of these professional hackers of our age. You can also see why there are those that resist rushing to go fully digital. The Hanako wasa ceremony of contract, one that had to be done, and witnessed, by hand and person.

11 banks certainly has the attention of the people.

I guess AI will sort it all out. #nervoussideglance

-1 ( +2 / -3 )

We started out being a cashless society. Prior to that people bartered then when to a gold standard, then paper and coin system, then credit system. Eventually we will become cashless its just a matter of time. If man creates it man can break it and we will always have that problem.

-2 ( +1 / -3 )

Good old Mizuho always in the news for the wrong reasons.

2 ( +3 / -1 )

This isn't surprising, they make this mistake often. They weren't hacked. They just don't know how to manage larger software projects.

0 ( +1 / -1 )

tora

Hopefully they were not hacked in some way.

They weren't.

Anyway, this is kind of related to the increasingly cashless society being pushed on us by the mostly elected Powers That Be, increasingly under the guise that cash can easily used for money laundering or by terrorists and other rouge actors.

And cashless is way more convenient. It isn't the elected powers that be that are pushing cashless, it is banks driving down costs and increasing convenience.

Imagine If everything were completely cashless? All it takes is an outage, for a day or two and there'd be chaos.

It would have the same impact whether cashless or not.

Keep cash and gold and your freedom, people.

People aren't any more free with cashless. The only downside I see are with the unbanked. They need to be considered during the push for cashless.

0 ( +0 / -0 )

cashless itself is still hooked up to legacy banking systems. How do you charge money into your “cashless”? One way is to do a real-time transfer from your bank account into your cashless.

That could break too…

Be able to use various payment methods, and you should be fine with one of them. Resilience by yourself.

0 ( +0 / -0 )

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