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Some discussion from knowledgeable people of what plausible "crackdown" rules would look like would be interesting. The article mentions an ID requirement for t
by motohagiography 6y ago
Some discussion from knowledgeable people of what plausible "crackdown" rules would look like would be interesting. The article mentions an ID requirement for transactions above $3k.
Personally, I think the idea of the physical nation state is converting to a global credit score, where instead of transacting across borders, you are transacting across classes of businesses and people, and tarriff and tax policy will be enforced on a risk basis instead of a national border one. Instead of black market electronic transactions, the transaction is just taxed at a higher rate because of the relative social credit score of your counterparty, so your transaction with a non-KYC enrolled wallet would incurr a 100%+ excise liability on your tax reporting. It's the sort of totalitarian idea that is appealing to the sort of people you really need a popular revolt against to unseat, but worth considering what they think about to remove their element of surprise.
- cinntaile 6y agoThis is an interesting point of view, do you have any sources where I can read more about this?
- walterbell 6y agoSee this comment from a larger thread on CBDCs: https://news.ycombinator.com/item?id=26205741 https://news.ycombinator.com/item?id=26205741 May or may not be repurposed: https://www.goodhealthpass.org https://www.goodhealthpass.org & https://www.lfph.io/ https://www.lfph.io/ & https://trustoverip.org/ https://trustoverip.org/ There's been talk of a KYC requirement for all customers of US web hosting because cyber.
- motohagiography 6y agoHaving worked with more than one of those member companies in that foundation, the one thing I've learned about conspiracy theorists is that what they really lack is imagination and vision.
- walterbell 6y agoIdentity is necessary but boring. US SSNs were used by third-parties far beyond the original purpose. Any identity system that achieves global scale can be used to anchor a risk score. Which systems do you consider good candidates for global digital identity and credit score? Cryptocurrency exchanges are using driver's license and utility company bills. The IaaS KYC EO basically says "record as much as possible", https://www.steptoeinternationalcomplianceblog.com/2021/02/us-infrastructure-as-a-service-providers-iaas-new-know-your-customer-requirements/ https://www.steptoeinternationalcomplianceblog.com/2021/02/u.... If we take inspiration from online advertisers, no formal "identity" is required, they can construct a profile from online signals, but there would zero legislative recourse for false positives.
- motohagiography 6y agoNecessary for whom? Every single use case for assigned identity reduces to enforcement. It is not a consumer product people want, it's a tool to herd people. These companies and so-called foundations are just jockeying to become the next Hollerith. Identity schemes don't need features or complexity as once you're subject to it, it can be a crappy yellow card or even an arm band you carry with you and present it when it is demanded. The rest is theatre.
- walterbell 6y agoI was going to say that identity is useful when replying to a comment on HN :) but you're right that the comment text could stand alone. The poster's identity is only needed for karma sorting and greylisting of comments.