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Putting the article aside for a bit: as a person with phantom nostalgia for cypherpunk, I'm concerned about the prospect of the CBDC—but I don't understand how
by aasasd 5y ago
Putting the article aside for a bit: as a person with phantom nostalgia for cypherpunk, I'm concerned about the prospect of the CBDC—but I don't understand how corruption is supposed to work with that. One thing that Western commentators don't seem to fully realize is that currently the police and the agencies are given (relative) freedom to pillage the businesses, the population and the budget—and that's how they're kept loyal. The government is literally mafia. If transactions are all recorded, how is that gonna work?
A CBDC could easily impose an actually-working tax system and the budget. But I don't see how it would implement the system where the neighborhood cops take your money and split it among themselves. Even shell companies wouldn't help, since in the end money moves to individuals. The whole thing is worse for the cops than for the citizens.
The cops do actually benefit from the isolation in that they can stop pretending that they respect the ‘law’, which they for some reason vaguely kept up until recently—at least on paper. But I don't think that they want instead to have strict ‘law’ and checks among themselves.
- prirun 5y agoSeems to me it could work just the way it does now: turn a blind eye to anyone on the "approved" list. Cops being on the take would be fine as long as they are doing favors for higher-ups. If they stop doing favors for higher-ups or start criticizing, bingo: no more on-the-take transactions for you. Just because a system records citizens' transactions doesn't mean it has to record everyone's transactions, right?