Norway’s Largest Bank Instant Payment Solution (Vipps.no) Was Down Again…
Norway's largest bank (DNB) answer to the blockchain treat Vipps, was down due to "maintenance" several hours this morning.
This is not the first time and not the only flaw...
Some examples:
✒They used the outdated SHA-1 algorithm in their certificates until recently source.
✒They have a lot of down time due to maintenance of DNB.
✒Each time you use Vipps, it's not just money that is being moved. Personal information is also transferred - to Facebook source.
✒Just recently (August) several users were charged multiple times for the same transaction (i.e. double spending) source.
A week ago, Børre Jacobsen checked his account and found out that someone had managed to spend 5,000 kroner via DNB's mobile app Vipps on January 28th. This occurred over five withdrawals of 1,000 kroner.
And that without even having Vipps installed, says Jacobsen source.
Ergo, the Vipps-stunt just reveals every major flaws with the modern banking system and just makes blockchain based payment systems even more relevant.
hah! Yeah I was actually thinking the same thing when I read that it was down, again.
Perhaps the banks will be our best friend in helping make crypto mainstream. They will launch a digital and easy to use money transfer system -> because everyone currently has a normal bank they can reach out to most of the population with this new tool -> people recognise the usefulness of it and demand this to become a standard service. -> The quality, reliability, speed and cost inevitably fails due to the inferior infrastructure -> Blockchain/Crypto shows up and says "hey guys, this thing you've come to need and can't live without, we'll give it to you with 0 fees, no transaction time and without everything fialing when the central system fails! Wanna try it out?!"
Yes. Agreed. However, Norwegians are extremely trustful to their banks, so it make take some time before this will materialise eventually.
Package it in a nice app and everyone will play along :) It's just gotta be better than what's currently on offer!
@janusface,
I heard a survey result says 65% of US online banking accounts are not safe to keep money! So, this can be happened to any bank! Very useful information you shared friend!
Cheers~
i also saport....
Sometimes it seems like the safest place to keep your money is in gold bars under your mattress! Thanks for sharing. -Dan
As I understand the Vipps application is used on top of the existing monetary system right? Cause than I am not really surprised it's making this much errors... I know these big bosses want to keep their money schemes in place, keeping it centralized, but ain't gonna happen. Unless they make a new financial system from the bottom on. I think NEO looks pretty much like a government controlled coin, kudos for China be smart enough paying attention to the future...
Yes, vipps is a project by the biggest bank in Norway. Thus, it is not blockchain.
This is not very good news for Norwegians, but I hope they will get better. Thank you @janusface
Awful! DNB has way too many flaws!
Good work!!!
amigo #resteemia at your service
useful information & nice post @janusface
ReSteemia
'UpVoted ReSteemed Commented'
@janusface - Oh Sir, this is a very bad news for Norway banks :( Nice you decided to share this info Sir <3
+W+ [UpVoted & ReSteemed]