Im interested in cryptos, because it could serve as a foundation for an internet funded by people and communities. A crypto that protects people’s privacy and has a low energy cost.
But is this enough to make it ethical? Are there other aspects to take into concideration? Or is ethical cryptos possible?
In particular Im looking into Mobilecoin which Signal has integrated into their app.
Cryptocurrencies is the future, one way or another.
We need to get rid of traditional banking, improve the blockchain process and find a way to block mining, then we are much more efficient than traditional banking because you can easily do thousand transactions within milliseconds without depending on external middle mans.
My idea is that Govt. takes over cryptocurrencies and that traditional banks monitor and improve the system. So you still have your bank, the govt is happy because they can monitor potential fraud and we get a more privacy respecting system.
The entire ponzi scheme discussion only stands and falls with mining. If that is out of the equation then we are pretty much ready to go, China uses their app, so there is no hard cash anymore and it works pretty well for them.
Digital Yuan is not based on blockchain
It is about the principle, you replace hard cash. Also this is not entirely right since there are plans to integrate a blockchain but right-now there are not much green alternatives.
One way or another it supports my point because centralized systems are even less efficient, as explained.