Technical Discussion: How Banking Systems Store and Calculate Money Values
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mousepad12
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Summary
The article discusses technical aspects of digital financial systems, specifically addressing misconceptions about how money is stored in banking systems. It clarifies that account balances are not simply stored as integer values but are calculated from transaction histories, with caching for performance. The discussion touches on central banking systems and the nature of money creation, while also referencing Denmark's MitID digital ID system outage mentioned in the title.
Key quotes
· 5 pulledthat the 'money you have' is just an int32
well, luckily, that's not how money is stored, but instead, they're transaction based
Aka, that number you have is a calculated value, not a stored, arbitrary value
Except...perhaps the central bank's, where they could really just generate that money as an arbitrary value to lend out to other banks
of course, your account balance is cached, so that it is not recalculated over and over again
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