It doesn't have to be like China.

But we've already got a oligopoly of sorts with in the financial system (in the US heavily reinforced by policy after the last 2008 recession down to 5 mega banks and thousands of smaller banks went under). So it will be more like corporate surveillance.

Which yes privacy laws can protect. Especially here in Canada.

It doesn't have to be that way if we had competent privacy rights protections.

Especially not the way WeChat and Alipay has been integrated with the Chinese government.

Yeah I'm not sure why I was down voted for that -- literally if you don't have these two "apps" (which the government monitors and censors), you can't function in modern Sino city life. Why we would want that in Canada is beyond me.

I agree with all your points.

And you know this how? There are plenty of people there who get by fine without owning a phone.