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> It will be much easier to track and control how we spend our money Will be? will in future ? The majority of my GBP transactions are digital already - they
by SideburnsOfDoom 4y ago
> It will be much easier to track and control how we spend our money
Will be? will in future ? The majority of my GBP transactions are digital already - they are not pieces of paper with picture of the late Queen changing hands, they are database records, mediated by a "buy" button in the web browser, or the tap of a card onto a reader.
The currency is mostly digital, already.
- namaria 4y agoYeah, over distributed databases controlled by multiple competing entities. With a single system under the government's purview, it's orders of magnitude easier for any government agency to get that data consolidated.
- SideburnsOfDoom 4y ago> it's orders of magnitude easier for any government agency to get that data consolidated. I don't buy that; if the government (UK or otherwise) wanted a consolidated view of all transactions (at what stage: acquired, captured or cleared ?) then they could get it from a low double-digit number of sources. Building their own payments processing system is hard, perhaps as hard as getting feeds from all of those.
- namaria 4y agoThe sheer amount of cash hoarded by tax evasion, and the very public effort in creating this central government backed blockchain attest to the contrary. For all we can speculate, we will have to wait and see. I dread this possible future and hope it doesn't come to pass...