How Keeta processes 11M financial transactions per second with Spanner
63 comments
·August 14, 2025OutOfHere
KYC compliance is not a feature. It is a liability. Identity data is both leaked and abused all the time. Google had a data breach just two weeks ago.
yunohn
Could you provide a source for Google’s “KYC data” breach?
OutOfHere
KYC data is PII data. I'm referring to Google's Salesforce breach, which most certainly included substantial PII data.
Moreover, other companies like Coinbase that do KYC have had their KYC data stolen this year as well, putting the lives of asset holders at risk.
yunohn
KYC data is by definition PII data, but the opposite is definitely not true. You can have PII data without it being relevant to nor mandated by KYC regulations.
Please understand that the muddying of terms only harms your argument, instead of strengthening it.
gigatexal
Oh cool a blockchain crypto thing that will actually be compliant and do KYC and such and not take forever to settle things.
If crypto destroys the fx money changer companies that charge egregious fees and makes it such that I can send money to friends and family without delay and fees I’d be all for that.
Maybe sane officials will let the US Federal Reserve launch a digital dollar and finally fix all the middle men sucking no-value-added rents out of the financial system
delusional
The problem with a good "blockchain crypto thing" is that if they were going to be good anyway, there are much better/cheaper technologies for doing banking.
Blockchain technology is not just a scam industry by happenstance. The technology is so bad at what it usefully does that it necessitates being a scam industry. If it was to compete with mainline banking, it would lose 10 times out of 10.
OutOfHere
While Visa and MasterCard want 3%, using USDT lets me send an amount for a penny or two. Nick checks out.
gigatexal
Exactly. But is USDT doing KYC?
ceejayoz
Visa and Mastercard will give me my money back when the vendor turns out to be shit, though.
ETH_start
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miki123211
There must be a reason why those fees exist, otherwise there would be a business opportunity for another greedy company to demand lower fees and take all the profit.
I strongly suspect the reason is the regulations themselves. KYC implementations cost money, and so do fraud disputes. Traditional crypto provides neither, so the fees ther are much lower.
OutOfHere
Fraud disputes are literally the only reason the fees were historically justified. These days however, various large companies strictly prohibit a user from engaging in any dispute, causing the user's account to be frozen if a dispute is initiated. This means there rarely any fraud dispute anymore, so paying a premium for it is typically a waste.
yunohn
I mean, this whole Forex fee horse has been beaten to death by crypto evangelists for the past decade, and yet, it seems “unsolvable”?
Wise used to be almost completely free (excl spread), but they also introduced small % based fees over 1-2 yrs ago. They have had and continue to have many competitors, all of whom are experimenting with pricing models all the time.
If crypto could solve this, or if a trad-fi competitor could disrupt this, they would have. But that is not a very satisfying story, so here we are…
OutOfHere
Your comment shows how little you know about stablecoins, the legislation that passed this year, and what's coming with the planned introduction of stablecoins by major retailers. Your extreme ignorance does not give you the right to preach nonsense.
troupo
Ah yes. A "blockchain" that checks notes isn't a blockchain (uses their own implementation of a DAG) and checks notes is running on a single product by a single company.
The actual disruptor here is Google Spanner which actually handles all the ACID required.
> If crypto destroys the fx money changer companies that charge egregious fees and makes it such that I can send money to friends and family without delay and fees I’d be all for that
Strange how this amazing ripe-for-the-taking idea has been said about crypto for 20 years now. And somehow it's always "too early, it's coming in the future"
gigatexal
Because most of crypto is run by grifters and charlatans pumping and dumping.
ETH_start
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keetamaxi
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soaringseagull
I cannot believe i missed this
jeanPF
I quote Google Cloud literally, today August 14:
"Tens of trillions of dollars worth of value are transferred across outdated financial systems daily — and Keeta Network has proven it has the speed, scale, and security to be the foundation for a new, interconnected ecosystem."
"Google Cloud was also instrumental in helping to prepare and execute Keeta’s stress test, providing world-class infrastructure and technical guidance that helped validate the network’s real-world performance"
SilverCipher
Interesting article from Google. Keeta seems to have a legitimate differentiator in their architecture.
I've been DYOR and I suspect that once a few companies start using their network, Keeta will quickly become indispensable because of their speed and low usage cost.
Also wonder if those companies who sell over Keeta will pass the savings on to consumers. hmmm :)
Thanks xescure
How is it a distributed block chain if it runs on their Google cloud account exclusively?