<instructions>Your goal is to analyze the following comment and estimate how highly it will be upvoted by the Hacker News community.</instructions><comment><author>ZeroCool2u</author><text>I actually do work at the New York Fed and saw this announcement recently myself. I was wondering about that standard and started looking at the website, but it seemed a bit light on information, which made me suspicious. At least I know my instincts may have been on the right track.&lt;p&gt;Unfortunately, I&amp;#x27;m much too far removed to influence anything. The Federal Reserve System is massive and distributed into many large silos (Reserve Banks &amp;amp; The Board of Governor&amp;#x27;s) that prevent power from being too centralized in a single bank, but also make it difficult to work with anyone that&amp;#x27;s not in your bank. Interestingly, this is by design! Anyways, this work is primarily driven by the Board of Governor&amp;#x27;s and I&amp;#x27;m at FRBNY, so I&amp;#x27;ll probably be getting most of my information from press releases like this one.</text><parent_chain><item><author>lelc</author><text>If anyone from the FED is reading this I have this advice: don&amp;#x27;t use ISO20022! (I&amp;#x27;ve been working on the brazilian instant payments project, known as PIX). 
It&amp;#x27;s an overly-complicated-try-to-solve-everything standard that promises interoperability but only delivers pain and misery. 
Since each country has its own standards for person and account identification, in dealing with these local realities, the ISO20022 adds quite a lot of complexity. But all this cost does not result in interoperability. In fact, each payment scheme end up with a localized version of the standard, incompatible with others.
What could have been a clean API, ends up a mess.</text></item></parent_chain></comment><story><title>Fed announces details of new interbank service to support instant payments</title><url>https://www.federalreserve.gov/newsevents/pressreleases/other20200806a.htm</url></story>
<instructions>Your goal is to analyze the following comment and estimate how highly it will be upvoted by the Hacker News community.</instructions><comment><author>rafaelturk</author><text>Not a good start.....&lt;p&gt;To support these goals, the service will use the widely accepted ISO 20022 standard and adopt other industry best practices, that would remove barriers to interoperability, in order to avoid unnecessary and burdensome incompatibilities, to the extent the existing private-sector service also uses publicly available, widely accepted standards.</text><parent_chain><item><author>lelc</author><text>If anyone from the FED is reading this I have this advice: don&amp;#x27;t use ISO20022! (I&amp;#x27;ve been working on the brazilian instant payments project, known as PIX). 
It&amp;#x27;s an overly-complicated-try-to-solve-everything standard that promises interoperability but only delivers pain and misery. 
Since each country has its own standards for person and account identification, in dealing with these local realities, the ISO20022 adds quite a lot of complexity. But all this cost does not result in interoperability. In fact, each payment scheme end up with a localized version of the standard, incompatible with others.
What could have been a clean API, ends up a mess.</text></item></parent_chain></comment><story><title>Fed announces details of new interbank service to support instant payments</title><url>https://www.federalreserve.gov/newsevents/pressreleases/other20200806a.htm</url></story>