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I have such mixed feelings. On one hand, it clearly creates a power problem where too few have too much power. On the other hand, you don't run a company with
by hayst4ck 3y ago
I have such mixed feelings.
On one hand, it clearly creates a power problem where too few have too much power.
On the other hand, you don't run a company without a dashboard of statistics and information to inform the decisions you make and theoretically the higher fidelity of the information you use to make decisions, the better decisions you can make. It's also very convenient.
Since people can exercise power without consequences it seems like anything that centralizes power is bad and therefore preserving cash is fundamentally good, but if people could provide consequences to those who abuse power, then things like digital currency could be used for great good.
I have to admit, relatedly, I am incredibly skeezed out by square e-mailing me itemized digital receipts for purchases made against a square terminal. What are they doing with that data? Are the regulated? Are they selling it? Are they using it to collude against customers (like the people who suggest rental prices creating a de facto cartel)?
Cash doesn't really have metadata.