Enlarge (credit: fatido | iStock Unreleased )

Yesterday, the US Federal Reserve officially launched FedNow , a new system rolled out to 35 early-adopting banks and credit unions for processing instant payments between financial institutions. The Fed's goal is to eventually connect more than 9,000 banks and credit unions nationwide, tossing out the old payments system and supporting faster payment processing between all US institutions.

If FedNow becomes popular enough, it could one day make trouble for apps like PayPal and Venmo, which serve as intermediaries to make fast payments between banks. Cash apps could eventually seem so slow or unnecessary that they become obsolete. For now, peer-to-peer payments apps seem safe, though, as analysts told NBC News that FedNow is "likely to benefit consumers and small businesses the most."

"The Federal Reserve built the FedNow Service to help make everyday payments over the coming years faster and more convenient," Federal Reserve chair Jerome Powell said in a press release. "Over time, as more banks choose to use this new tool, the benefits to individuals and businesses will include enabling a person to immediately receive a paycheck or a company to instantly access funds when an invoice is paid."

Enlarge (credit: fatido | iStock Unreleased )

Yesterday, the US Federal Reserve officially launched FedNow , a new system rolled out to 35 early-adopting banks and credit unions for processing instant payments between financial institutions. The Fed's goal is to eventually connect more than 9,000 banks and credit unions nationwide, tossing out the old payments system and supporting faster payment processing between all US institutions.

If FedNow becomes popular enough, it could one day make trouble for apps like PayPal and Venmo, which serve as intermediaries to make fast payments between banks. Cash apps could eventually seem so slow or unnecessary that they become obsolete. For now, peer-to-peer payments apps seem safe, though, as analysts told NBC News that FedNow is "likely to benefit consumers and small businesses the most."

"The Federal Reserve built the FedNow Service to help make everyday payments over the coming years faster and more convenient," Federal Reserve chair Jerome Powell said in a press release. "Over time, as more banks choose to use this new tool, the benefits to individuals and businesses will include enabling a person to immediately receive a paycheck or a company to instantly access funds when an invoice is paid."

Enlarge (credit: fatido | iStock Unreleased )

Yesterday, the US Federal Reserve officially launched FedNow , a new system rolled out to 35 early-adopting banks and credit unions for processing instant payments between financial institutions. The Fed's goal is to eventually connect more than 9,000 banks and credit unions nationwide, tossing out the old payments system and supporting faster payment processing between all US institutions.

If FedNow becomes popular enough, it could one day make trouble for apps like PayPal and Venmo, which serve as intermediaries to make fast payments between banks. Cash apps could eventually seem so slow or unnecessary that they become obsolete. For now, peer-to-peer payments apps seem safe, though, as analysts told NBC News that FedNow is "likely to benefit consumers and small businesses the most."

"The Federal Reserve built the FedNow Service to help make everyday payments over the coming years faster and more convenient," Federal Reserve chair Jerome Powell said in a press release. "Over time, as more banks choose to use this new tool, the benefits to individuals and businesses will include enabling a person to immediately receive a paycheck or a company to instantly access funds when an invoice is paid."

Enlarge / Sorry, Dolphin fans. No Steam release for you. (credit: Dolphin Team)

A few months ago, the developers behind the Wii/GameCube emulator Dolphin said they were indefinitely postponing a planned Steam release , after Steam-maker Valve received a request from Nintendo to take down the emulator's "coming soon" page. This week, after taking time to consult with a lawyer, the team says it has decided to abandon its Steam distribution plans altogether.

"Valve ultimately runs the store and can set any condition they wish for software to appear on it," the team wrote in a blog post Thursday . "In the end, Valve is the one running the Steam store front, and they have the right to allow or disallow anything they want on said storefront for any reason."

The Dolphin team also takes pains to note that this decision was not the result of an official DMCA notice sent by Nintendo. Instead, Valve reached out to Nintendo to ask about the planned Dolphin release, at which point a Nintendo lawyer cited the DMCA in asking Valve to take down the page.

Enlarge / Sorry, Dolphin fans. No Steam release for you. (credit: Dolphin Team)

A few months ago, the developers behind the Wii/GameCube emulator Dolphin said they were indefinitely postponing a planned Steam release , after Steam-maker Valve received a request from Nintendo to take down the emulator's "coming soon" page. This week, after taking time to consult with a lawyer, the team says it has decided to abandon its Steam distribution plans altogether.

"Valve ultimately runs the store and can set any condition they wish for software to appear on it," the team wrote in a blog post Thursday . "In the end, Valve is the one running the Steam store front, and they have the right to allow or disallow anything they want on said storefront for any reason."

The Dolphin team also takes pains to note that this decision was not the result of an official DMCA notice sent by Nintendo. Instead, Valve reached out to Nintendo to ask about the planned Dolphin release, at which point a Nintendo lawyer cited the DMCA in asking Valve to take down the page.

Enlarge / Sorry, Dolphin fans. No Steam release for you. (credit: Dolphin Team)

A few months ago, the developers behind the Wii/GameCube emulator Dolphin said they were indefinitely postponing a planned Steam release , after Steam-maker Valve received a request from Nintendo to take down the emulator's "coming soon" page. This week, after taking time to consult with a lawyer, the team says it has decided to abandon its Steam distribution plans altogether.

"Valve ultimately runs the store and can set any condition they wish for software to appear on it," the team wrote in a blog post Thursday . "In the end, Valve is the one running the Steam store front, and they have the right to allow or disallow anything they want on said storefront for any reason."

The Dolphin team also takes pains to note that this decision was not the result of an official DMCA notice sent by Nintendo. Instead, Valve reached out to Nintendo to ask about the planned Dolphin release, at which point a Nintendo lawyer cited the DMCA in asking Valve to take down the page.

Enlarge (credit: Banj Edwards | Aurich Lawson | Getty Images)

"When checking the system this morning, I noticed your account logged in for over 20 hours," begins a December 1998 email from the president of my dial-up Internet service provider (ISP) at the time. "Our service is unlimited, but we ask that you actually be using the connection while logged in."

Today, when it seems like everyone is online 24/7 through smartphones and broadband, I'd be weird if I wasn't online for 20 hours straight. But 1998 in Raleigh, North Carolina, was different. In an age of copper telephone lines and dial-up modems, Internet access wasn't usually an always-on situation for a home user in the US. Each occupied telephone line meant another ISP customer couldn't use it—and no one could call you, either.

But I'm getting ahead of myself—why do I have an email from 1998?

Enlarge (credit: Banj Edwards | Aurich Lawson | Getty Images)

"When checking the system this morning, I noticed your account logged in for over 20 hours," begins a December 1998 email from the president of my dial-up Internet service provider (ISP) at the time. "Our service is unlimited, but we ask that you actually be using the connection while logged in."

Today, when it seems like everyone is online 24/7 through smartphones and broadband, I'd be weird if I wasn't online for 20 hours straight. But 1998 in Raleigh, North Carolina, was different. In an age of copper telephone lines and dial-up modems, Internet access wasn't usually an always-on situation for a home user in the US. Each occupied telephone line meant another ISP customer couldn't use it—and no one could call you, either.

But I'm getting ahead of myself—why do I have an email from 1998?

Enlarge (credit: Banj Edwards | Aurich Lawson | Getty Images)

"When checking the system this morning, I noticed your account logged in for over 20 hours," begins a December 1998 email from the president of my dial-up Internet service provider (ISP) at the time. "Our service is unlimited, but we ask that you actually be using the connection while logged in."

Today, when it seems like everyone is online 24/7 through smartphones and broadband, I'd be weird if I wasn't online for 20 hours straight. But 1998 in Raleigh, North Carolina, was different. In an age of copper telephone lines and dial-up modems, Internet access wasn't usually an always-on situation for a home user in the US. Each occupied telephone line meant another ISP customer couldn't use it—and no one could call you, either.

But I'm getting ahead of myself—why do I have an email from 1998?