AMP or Alchemy Pay - Similar use case, vastly different implementation. Dug into the whitepaper for Alchemy as promised, can't say I loved what I saw. Not the tokenomics, they were fine. Not the implementation, that was fine. Not the profitability potential, that was fine. What I didn't care for was the fact that Alchemy seems to be designed to harvest as much information from those who use the system and put it into the hands of the sponsored state that is implementing it.
Data-harvesting on a massive scale. Not my words or my conjecture, it's in the ACH whitepaper. Reporting this data to the state agenices who monitor credit reporting, it's in their whitepaper. Reporting this data to advertising firms who will leverage it to make sure you see the advertisements they want you to see, it's in their whitepaper.
Hard not to get political on this one, but if there was one single thing that I love about AMP above all else is the privacy aspect of it. It is baked into the AMP ecosystem. And although ACH is doing or planning to do effectively everything AMP Is doing or planning to do, the fact that transaction on ACH are tracked from start to finish with your name on them, big big big no-go for me. Your mileage may vary.
Will ACH be successful? Yes, it will. But at what cost?
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