Tech experts urge Washington to resist crypto industry’s influence
Similarly, most public blockchain-based financial products are a disaster for financial privacy; the exceptions are a handful of emerging privacy-focused blockchain finance alternatives, and these are a gift to money-launderers.Damned if you do and damned if you don't.The existing, centralized electronic payment systems are a disaster for financial privacy, and it'll only get worse with CBDCs.If you try to make something private, then you're helping money launderers, criminals and pedophiles.Therefore, the message from the incumbents:Shut up and embrace the unfolding panopticon, otherwise you're a bad person.Also, we reserve the right to dictate what you spend your money on and if you want to donate to causes (e.g. Wikileaks or truckers) that we don't approve of, we'll block your bank account and cut you off from the system.Lastly, we reserve the right to manipulate the money supply. It's enough for you to know that we are experts and have your best interests in mind. You don't need to concern yourself with how much money there is, how its supply is managed or the potential negative effects of our manipulation, you wouldn't understand the implications anyway.