4 ms·

From what I know about feudalism, this is a non-obvious statement. Care to develop ?

• numpad0 6mo ago
  The proposed system moves sources of identity from the nation to private banks under it. So banks own people. Propose a financial regulation to the national congress/parliament and you stop existing, digitally or potentially physically as well. That's feudalism. Or Chinese struggles-of-nations warlord era situation which is often grouped up into that concept as close enough things.
  • TFNA 6mo ago
    Banks can be state-owned as well as private. Moreover, some countries have a particular bank that serves all citizens, even if they would not be able to bank elsewhere.
    • tardedmeme 6mo ago
      are they state-owned? Which American bank is required to serve everyone, regardless of nationality or other factors?
  • cassepipe 5mo ago
    I am not sure the proposal was for the bank to "own" the identity rather than being the manager of it the same way they already manage your money. The state establishes your identity at birth. The bank already has access to your identity. If a service needs to know your identity, it asks the bank and it is illegal for them to store than information anywhere on their servers. It means only the bank is repsonsible for the safety of your id and selling and buying id information will be illegal.