Will laws be put in place
ahead of this tech to prevent private industry, state and federal governments from abusing this system?
e.g.
- Auto-deducting money from someones wallet for infractions a minor crimes such as jaywalking detected by facial recognition?
- Locking someones wallet if they say something that upsets the government?
- Limiting access to the wallet for specific services if the persons social credit score is too low? this may also be in the works
- Protecting transactions from government agencies snooping without a warrant?
- Protecting transactions from private industries harvesting and machine learning behavior? This is already done with credit and debit cards. A centralized digital dollar could in theory track the same data for cash transactions. This data does exist but is harder to gather into a centralized database today.
Are there laws on the books today that would protect people from these and other use cases? I ask in good faith because I know that people will do what people can do. I believe this question is important. Implemented without proper protections can weaken faith in the system and the IRS stand to lose a lot of money.
e.g.
- Auto-deducting money from someones wallet for infractions a minor crimes such as jaywalking detected by facial recognition?
- Locking someones wallet if they say something that upsets the government?
- Limiting access to the wallet for specific services if the persons social credit score is too low? this may also be in the works
- Protecting transactions from government agencies snooping without a warrant?
- Protecting transactions from private industries harvesting and machine learning behavior? This is already done with credit and debit cards. A centralized digital dollar could in theory track the same data for cash transactions. This data does exist but is harder to gather into a centralized database today.
Are there laws on the books today that would protect people from these and other use cases? I ask in good faith because I know that people will do what people can do. I believe this question is important. Implemented without proper protections can weaken faith in the system and the IRS stand to lose a lot of money.