On 14/12/20 11:01 pm, Stephen Loosley wrote: > “How will the digital RMB change the financial ecology?” > 2020-10-21 17:09 Author: Sun Yang Source: Suning Financial Research Institute (Google Translation) (c) > http://www.cb.com.cn/index/show/zk/cv/cv13450241184
... > all transaction information is only stored in the digital currency system of > the central bank, which fully guarantees the anonymity of users and helps > ensure the security of personal information This is crucial today when data > privacy is highly important ... > ... personal level data will be collected by the central bank ... Digital currency will enable the central bank to better implement the central government's targeted monetary policy, and to achieve accurate fund placement and flow monitoring ... It's a neat Orwellianism to treat 'privacy' as merely security against third parties. The State, being your Big Brother, is by definition incapable of ever doing anything against your interests. Mind you, this bit negates the naive notion of security against third parties, and portrays the 'open banking data' scene, like that being implemented in Australia as the Corporate Data Right (CDR): > Commercial banks have entered the scene directly, and can obtain richer and more detailed data information under the scene, which can be used to portray users' consumption habits or generate credit evaluations for users ... Chilling stuff. Stalin's jealous. -- Roger Clarke mailto:[email protected] T: +61 2 6288 6916 http://www.xamax.com.au http://www.rogerclarke.com Xamax Consultancy Pty Ltd 78 Sidaway St, Chapman ACT 2611 AUSTRALIA Visiting Professor in the Faculty of Law University of N.S.W. Visiting Professor in Computer Science Australian National University _______________________________________________ Link mailing list [email protected] http://mailman.anu.edu.au/mailman/listinfo/link
