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Comment by rich_sasha | Hacker News Reader

This probably wouldn’t even be a blockchain right? Just an emphemeral account balance on a gov server.

I’m far from anti-government libertarian but I like nothing about this. It doesn’t solve any user issues over what’s in place now but adds a massive privacy concern.

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Government already can get access to my financial data in many instances... And sadly I trust my government slightly more than I trust VISA/MC. Ofc, also the charges for banking start to feel bit high, so if this was free or fully tax paid I would be up for that reason too.

That's funny you say that, because Visa founder Dee Hock is now retired and on twitter and thoughtfully warning about the massive centralization of power that is unfolding behind the scenes.

Do you have a link to share?

https://twitter.com/deewhock

All your payments data is aggregated, correlated across different providers, repackaged and resold on such a massive scale that any notion that you have any privacy left is sadly very quaint.

True, but at least this is all for money and takes effort to aggregate. A kind of “proof of work” for government privacy invasion.

Central Bank Digital Cash puts it on a central server, time stamped and with access logs.

It’s not as collected as you may think. I work in the space and the data you can use in most cases is extremely limited. The companies determining credit ratings know quite a bit, banks themselves are relatively limited. They definitely can’t watch every transaction.

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