A Dystopian Nightmare

Government tends to collect as much data about its citizens as they can get away with. This happens under the guise of safety, as in the governor of the state of Michigan’s decree to document every customer’s personal information to contain the spread of COVID-19 or under the pretext of nudging people to become model citizens in the case of China. Imagine a social credit scoring system coupled with a CBDC. All your purchasing decisions could influence your score on which you depend for everything. Donate to the “wrong” non-profit like WikiLeaks? Whoops, you cannot purchase train tickets anymore. Bought some beer at a liquor store? Oh no, your credit score might drop, or your application for the government job does not get accepted.

What sounds like a far-fetched dystopian nightmare is already a reality in China. If you hang out with the wrong crowd, your citizen score, which is crucial for purchases, jobs, travel and so much more suffers. Pair this level of surveillance with the ability to track any purchasing decision you make and you have the perfect recipe for Big Brother on crypto-steroids.

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