alt Hacker NewsGPS relies on very very accurate timing. I would wager that the timing side of GPS is used more than the positioning side - but I have no way of confirming that.
Accurate timing is needed for banks accepting/sending payments (not just £5 for the window cleaner - more billions flowing every day).
Replies
ChocolateGod • today at 6:43 PM
I wouldn't be surprised if financial institutions use GPS for time keeping.
It's more accurate than getting it from a NTP pool.
That makes the issue worse as the actual app/device likely just relies on querying some NTP pool for accurate time. Then that would mean the actual stratum 1 servers are not working right.