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Mass surveillance, yay! Fed ... what? Anyway, do not worry, your hopes will be fulfilled very soon in the US with the arrival of the digital dollar. More contr

Mass surveillance, yay! Fed ... what? Anyway, do not worry, your hopes will be fulfilled very soon in the US with the arrival of the digital dollar. More control and surveillance, how delighting!

cubefox 3y ago
Less control, if anything. Remember how credit card companies blocked WikiLeaks and Pornhub?
- WinstonSmith84 3y ago
  How could that be less control when it will be in fact a centralized database? Remember how much trouble it was for the Canadian government to freeze the accounts of the Canadian truckers? Now it will just be a request to an "admin"...
  - cubefox 3y ago
    Is it really centralized?
    - WinstonSmith84 3y ago
      It will be, that's what CB in CBDC is about. If you wonder what Governments may / will do with CBDC, here is something which shall be enlightening https://cointelegraph.com/news/the-world-could-be-facing-a-dark-future-thanks-to-cbdcs https://cointelegraph.com/news/the-world-could-be-facing-a-d...
  - hakfoo 3y ago
    There's two entirely different classes of control out there. A state database will may be centralized, but it's also much more accountable to established legal norms. Private systems run on their own internal rules, with less formality, appeal process, and recourse. A major "control" issue is acceptance. A card network can decide (for example, based on fear of public embarrassment, angry stockholders, or pressure groups) to cut off anyone they don't want. The federal government would be tied up in the courts for decades if they acted equally precariously. So it's actually potentially a more reliable choice for "hot button" products like porn, guns, VPN service, etc. I'd expect the risk of disclosure will get fairly tightly clamped down. With the current system, there are a lot of middlemen and law enforcement or just snoops can find someone to socially engineer data out of it. Make it a federal thing, and I'd expect there are a lot stronger legal protections and rules available than just "ooh, if PCI hears about it they might complain". If these rules aren't there on day 1, two weeks after first time the local news busts a Senator for paying callgirls with FedNow, they'll be there.

Mass surveillance, yay! Fed ... what? Anyway, do not worry, your hopes will be fulfilled very soon in the US with the arrival of the digital dollar. More control and surveillance, how delighting!

cubefox 3y ago

Less control, if anything. Remember how credit card companies blocked WikiLeaks and Pornhub?

WinstonSmith84 3y ago
How could that be less control when it will be in fact a centralized database? Remember how much trouble it was for the Canadian government to freeze the accounts of the Canadian truckers? Now it will just be a request to an "admin"...
- cubefox 3y ago
  Is it really centralized?
  - WinstonSmith84 3y ago
    It will be, that's what CB in CBDC is about. If you wonder what Governments may / will do with CBDC, here is something which shall be enlightening https://cointelegraph.com/news/the-world-could-be-facing-a-dark-future-thanks-to-cbdcs https://cointelegraph.com/news/the-world-could-be-facing-a-d...
- hakfoo 3y ago
  There's two entirely different classes of control out there. A state database will may be centralized, but it's also much more accountable to established legal norms. Private systems run on their own internal rules, with less formality, appeal process, and recourse. A major "control" issue is acceptance. A card network can decide (for example, based on fear of public embarrassment, angry stockholders, or pressure groups) to cut off anyone they don't want. The federal government would be tied up in the courts for decades if they acted equally precariously. So it's actually potentially a more reliable choice for "hot button" products like porn, guns, VPN service, etc. I'd expect the risk of disclosure will get fairly tightly clamped down. With the current system, there are a lot of middlemen and law enforcement or just snoops can find someone to socially engineer data out of it. Make it a federal thing, and I'd expect there are a lot stronger legal protections and rules available than just "ooh, if PCI hears about it they might complain". If these rules aren't there on day 1, two weeks after first time the local news busts a Senator for paying callgirls with FedNow, they'll be there.