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submitted 2 months ago by ontariobay@lemmy.world to c/curatedtumblr@sh.itjust.works

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[–] TerranFenrir@lemmy.ca 5 points 2 months ago

Natural monopolies should be nationalised. Network effects tend to be a significant characteristic of natural monopolies (my opinion).
Payment infrastructure is critical for national security. Just the way cash is.

This is why imo, there should be a nationalised institution competing against private institutions like these.

the nationalised institution must be owned by the state.
its operations however must be organized as a consumer coop, where cardholders of this payment network are member owners. This would prevent the top down bureaucracy, corruption and inefficiencies that plague state owned corps.