Just finished reading the Executive Order from 2022. Section 4 is troubling
What scares you about centralized digital currency?
I keep seeing a fear of the government tracking our spending.
Donât we gladly give away our right to be tracked from cell usage to aps, if there is a term of agreements on a platform we want, we click it and we just give away rights to privacy?
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If nothing has happened in the two years since, we are probably ok.
Not that Iâm worried about digital currency.
Crypto is a lost cause unless itâs centralized, which is the exact opposite reason it was created in the first place.
The entire hypetrain behind digital currency was to create a currency that wasnât controlled by a centralized agency/government, and yet, here we are, where we still have yet to see a digitial currency that has value separate of the US Dollar
That being said, I think Blockchain technology is a breakthrough
Not just that but the cryptocurrency is no more secure than cash and has no FDIC insurance for when stolen.
Not to mention, we all use debit cards continually. Not anonymous cash.
That reminds me, I was going to get some cash earlier but forgot.
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I did a quick scan thru sec 4 and didnât see anything of concern to me. What in particular concerns
you in that section and why ?
Overall Iâd like to see digital currency replace the physical fiat currency and representative currency
(checks) too. Get away from the physical stuff that requires a lot of effort to manufacture, maintain, and administer. And is prone to counterfeiting and theft and money laundering and âŠ
And Iâd add , all those bills in your wallet today , have serial numbers , so in theory , every deal you make today could be traced. Itâs just so impractical to do and nobody really cares.
Edit - The only qualms I have about this EO is that this shouldnât be done via an EO and
should be legislation. But with the state of our broken government, important things donât get done.
If this is political , Iâll just stop there, ban me, or whatever.