'We don’t really 'hold' the bulk of our money. It’s held for us, somewhere in a computer that can be blocked, hacked or stolen,' MarceloMPrates writes. Crypto, then, might be a better alternative. Opinion.
banks, financial institutions and even crypto exchanges to freeze personal and corporate accounts suspected of sending contributions to protestors, eliminating the need to obtain a court order and the risk of later being sued for abuse.
It didn’t matter whether you were transferring C$10 or C$100,000 or paying for legitimate services provided a week ago: Send money to a targeted account and yours might end up frozen, too. A democratic government indiscriminately depriving its citizens of money as a sanction for supporting a protest shouldn’t be taken lightly – even after the emergency declaration wasIn the last weekend of February, reacting to a dreadful invasion of Ukraine, the U.S.
In the end, we don’t really “hold” the bulk of our money. It’s held for us, somewhere in a computer that can be blocked, hacked or stolen. The technological and institutional protections around this computer represent the thin line that separates monetary order from chaos – and this is true for all digital currencies, from bank deposits and central bank digital currencies to stablecoins and crypto.Second lesson: Monetary anonymity is a fallacy, not a solution.
Instead of providing your tax identification number and your personal details to open a bank account, for example, you’d digitally send the bank a code generated by a decentralized database holding the details of your identity. Every time you needed to prove your identity or a personal detail , the decentralized database would authenticate your access and release the required information.
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