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Would a federal digital currency help reduce this kind of fraud? Would it lead to easier fraud?
by eh9 5y ago
Would a federal digital currency help reduce this kind of fraud? Would it lead to easier fraud?
- onkoe 5y agoI don't know if we'll ever see a truly bipartisan digital currency in the form we know it now. Fraud prevention and similar services exist in the US government to prevent extreme exploitation by bad actor businesses, which rules out the support of many people in the government who could work to create any such currency. Protection procedures exist only from government institutions, and these range from hard to completely impossible to make with a cryptocurrency or similar systems. That said, a digital currency (as well as secure identification) would certainly reduce things like credit card fraud or identity theft. So maybe it balances out? This is really difficult to answer definitively lol
- warkdarrior 5y agoThis kind of fraud is more related to the lack of a trustworthy digital identity than to digital currency.