The security design of bitcoin transactions already made the new Goldman Sachs and Apple credit card obsolete before it even came out.
Tripp Mickle, Liz Hoffman, and Peter Rudegeair reported for the Wall Street Journal Thursday:
“Apple Inc. and Goldman Sachs Group Inc. plan to start issuing this spring a joint credit card paired with new iPhone features that will help users manage their money.
“The card will be rolled out to employees for testing in the next few weeks and officially launch later this year, according to people familiar with the matter.”
The Verge’s Jon Porter writes:
“The main selling point of the card is expected to be deeper integration with the Apple Wallet app, which will allow users to manage balances and set spending goals.”
Someone Tell Apple: Credit Cards Are Very Stupid
I’ve always marveled that we hand our credit card or debit card to teenagers at restaurants to disappear with for a few minutes, with all the information on it to spend your money.
We tell total strangers over the phone our name, credit card number, its expiration date, and the super special three number security code on the back to have a pizza delivered.
This is insane.
It does show how trustworthy the people in our society generally are that a financial payment system whose security design is so broken hangs together as well as it does.
But this is a big planet, and there are a lot of people. Not all of them are honorable or trustworthy. Companies…