This morning, I finally found the time to sit down and read through the report, The Case for Electronic Cash: Why Private Peer-to-Peer Payments are Essential for an Open Society, which was released last week by Jerry Brito and the team at Coin Center. I highly recommend you check it out if you have a chance at some time this week as Jerry does an incredible job of lucidly explaining why privacy, and in turn peer-to-peer, cash is an integral part of freedom, liberty, and human dignity.
This is an extremely important topic in today's globally connected world because it seems that we are bifurcating into two types of societies; those deadset on abandoning cash so they can surveil, rate and tax at will, and those who understand the importance of privacy and its essential role in enabling humans to practice free speech. Though, it seems as if those at the helm of the global banking system would love for the world to coalesce on the dystopian future coming to fruition in countries like China. Top economists like Ken Rogoff are openly campaigning to abolish cash so the global citizenry can be taxed and surveilled without any obstacles or recourse.
As Jerry points out in his report, it is imperative that we remain vigilant against the neverending pressure from the elite gatekeepers that run today's financial infrastructure who would love to insert themselves in every transaction, take a cut, and sell that data to fiending marketers looking to target certain consumers. Especially considering that we have done ourselves a massive disservice by becoming totally accustomed to surveilled online shopping, which was impossible to avoid until the digital bearer asset that is bitcoin arrived on the scene. We have an uphill battle to fight in regards to reeducating people why cash is important and how Bitcoin will act as digital cash as we forge ahead into the Information Age.
We have been given a very rare chance to correct the inherently flawed design of the first iteration of the Internet wrought with eCommerce that requires a third party to transact. If we continue down this path, it is not hard to see how the world turns into a giant surveillance state. Luckily, Bitcoin has provided optionality which did not previously exist. We now have a tool to use in the war against a potential Orwellian dystopia. Let's not let this opportunity slip through our fingers.
Go out into the world and share this Coin Center report with anyone you can. We'll all be better off for it.
Very happy we don't have to worry about fire ants here in the Northeast.