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There are other hidden benefits as well. Tax evasion and money laundering become a lot harder in a system that tracks transactions. That can be massive benefit
by jeroenhd 2mo ago
There are other hidden benefits as well. Tax evasion and money laundering become a lot harder in a system that tracks transactions. That can be massive benefit or a dystopian nightmare depending on the people in charge, but for many governments that's something worth throwing money at.
- expedition32 2mo agoAt no point in human history did the government not try to control currencies.
- jeroenhd 2mo agoBut only since the digital age did the government actually _succeed_ in controlling currency on a massive scale, right up until the point cryptocurrency took off (and even that can be tracked, most cryptocurrencies are based on a public ledger after all).
- Gormo 2mo ago> That can be massive benefit or a dystopian nightmare depending on the people in charge, That just resolves to "dystopian nightmare", then. Any system whose proper functioning is dependent on always having the right people in charge is one that will inevitably function improperly.