7 ms·

maybe we should start thinking of payment infrastructure as a core public service if we move away from cash? Just like there is an official entity that can "pri

maybe we should start thinking of payment infrastructure as a core public service if we move away from cash? Just like there is an official entity that can "print" cash, we should start doing the same with digital payments (I believe the EU is doing somethig similar). That way you don't have a duopoly taking a cut of every transaction.

Aerroon 3y ago
Governments should be running their own digital counterparts to cash, but they need to add the anonymity of this cash into the constitution. Otherwise the security apparatus is going to ruin it for everyone.
- krapp 3y ago
  ... because the security apparatus is definitely held in check by the Constitution?
  - Aerroon 3y ago
    At least it could theoretically be. Anything outside of that would definitely not be. And at that point the digital cash equivalent will not be considered private. The government has to go above and beyond for people to believe the digital cash would preserve their privacy.
Gare 3y ago
This is called CBDC (Central Bank Digital Currency) and it is being worked on. But there are concerns about state surveillance and misuse.
- lobocinza 3y ago
  CBDCs are a pandora box that once opened will not be closed. At best they will use for massive surveillance which is already scary.