Reality, this is just an ad for a virtual card service.
Virtual cards are a crap fix (security through obscurity).
In reality, we need a new financial endpoint identification scheme for the masses that is not run by a cabal of self-interest laced with debt-usury dating from a period in US domestic history where interstate-interbank was a challenge (basically things ran on telex). We need to completely unbundle endpoint identification (ie. card number) from information visibly requested or exchanged for authentication (as proof of authorization to pay). Discussions of the status quo need to occur with the recognition that these systems are effectively, foremost, massive global intelligence gathering and economic sanction and seizure platforms and not just payments facilitators. China has completely surpassed the west in payment efficiency because they jumped credit cards straight to mobile payments like they jumped wired telephones straight to cellular. China is opening banks all over the world at a lightning pace.
Europe and much of the world is charging ahead with IBAN which is IMHO well conceived and facilitating settlement systems often ~instant and free. Years ago in the early days of Kraken I proposed an internet form IIBAN compatible with crypto settlement and arbitrary financial endpoint registrars. Unsure if it is still in use at Kraken, however, in general it seems big crypto is now against interoperability as like traditional incumbents - re: government sponsored regulatory ingress means their money now comes from gatekeeping. China meanwhile are creating their own digital currency system and have maintained interbank clearing directly run by the state, with existing digital payments via a tiny number of proxy commercial entities (ring any bells?). It's efficient and effective but comes with the issues associated with such a configuration: primarily "eat it or wear it", re: innovation. Still, it's light years ahead of the US in terms of the consumer: no debt, instant approval, foreign participation welcome, global reach, zero cost, totally pervasive, no cards or snail-mail required, friends-as-reputation, none of that card not present bullshit, none of that 'tell us if you travel' bullshit, none of that 'points' or 'annual fee/waiver', or 'full personal and economic profile including n-months of local income to play' bullshit.
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Reality, this is just an ad for a virtual card service.
Virtual cards are a crap fix (security through obscurity).
In reality, we need a new financial endpoint identification scheme for the masses that is not run by a cabal of self-interest laced with debt-usury dating from a period in US domestic history where interstate-interbank was a challenge (basically things ran on telex). We need to completely unbundle endpoint identification (ie. card number) from information visibly requested or exchanged for authentication (as proof of authorization to pay). Discussions of the status quo need to occur with the recognition that these systems are effectively, foremost, massive global intelligence gathering and economic sanction and seizure platforms and not just payments facilitators. China has completely surpassed the west in payment efficiency because they jumped credit cards straight to mobile payments like they jumped wired telephones straight to cellular. China is opening banks all over the world at a lightning pace.
Europe and much of the world is charging ahead with IBAN which is IMHO well conceived and facilitating settlement systems often ~instant and free. Years ago in the early days of Kraken I proposed an internet form IIBAN compatible with crypto settlement and arbitrary financial endpoint registrars. Unsure if it is still in use at Kraken, however, in general it seems big crypto is now against interoperability as like traditional incumbents - re: government sponsored regulatory ingress means their money now comes from gatekeeping. China meanwhile are creating their own digital currency system and have maintained interbank clearing directly run by the state, with existing digital payments via a tiny number of proxy commercial entities (ring any bells?). It's efficient and effective but comes with the issues associated with such a configuration: primarily "eat it or wear it", re: innovation. Still, it's light years ahead of the US in terms of the consumer: no debt, instant approval, foreign participation welcome, global reach, zero cost, totally pervasive, no cards or snail-mail required, friends-as-reputation, none of that card not present bullshit, none of that 'tell us if you travel' bullshit, none of that 'points' or 'annual fee/waiver', or 'full personal and economic profile including n-months of local income to play' bullshit.
[0] https://tools.ietf.org/html/draft-stanish-iiban-01