News for hackers. Stuff that matters.
Re:G7 finance officials endorse principles for central bank ... by lettergram on Thursday October 14, 2021 @02:07AM (#28861010)
Not really looking forward to a global currency, with a government that can monitor the entire chain, tied to a vaccine passport...
Re:G7 finance officials endorse principles for central bank ... by bpodgursky on Thursday October 14, 2021 @02:13AM (#28861037)
I can't wait for Visa to reject my burrito order because my tweets are marked as hate speech in Pakistan.
Re:G7 finance officials endorse principles for central bank ... by 0xy on Thursday October 14, 2021 @03:41AM (#28861535)
The World Economic Forum has proposed a credit card which has a carbon-emission limit. Your burrito order might get declined because you killed too many theoretical trees that month.
Re:G7 finance officials endorse principles for central bank ... by hammock on Thursday October 14, 2021 @02:42AM (#28861216)
That already happens...onlyfans anyone?
Re:G7 finance officials endorse principles for central bank ... by rich_sasha on Thursday October 14, 2021 @02:18AM (#28861077)
This probably wouldn’t even be a blockchain right? Just an emphemeral account balance on a gov server.

I’m far from anti-government libertarian but I like nothing about this. It doesn’t solve any user issues over what’s in place now but adds a massive privacy concern.

Re:G7 finance officials endorse principles for central bank ... by Ekaros on Thursday October 14, 2021 @02:24AM (#28861107)
Government already can get access to my financial data in many instances... And sadly I trust my government slightly more than I trust VISA/MC. Ofc, also the charges for banking start to feel bit high, so if this was free or fully tax paid I would be up for that reason too.
Re:G7 finance officials endorse principles for central bank ... by lsiq on Thursday October 14, 2021 @03:33AM (#28861501)
That's funny you say that, because Visa founder Dee Hock is now retired and on twitter and thoughtfully warning about the massive centralization of power that is unfolding behind the scenes.
Re:G7 finance officials endorse principles for central bank ... by jeofken on Thursday October 14, 2021 @04:13AM (#28861691)
Do you have a link to share?
Re:G7 finance officials endorse principles for central bank ... by walterbell on Thursday October 14, 2021 @04:41AM (#28861862)
Re:G7 finance officials endorse principles for central bank ... by inter_netuser on Thursday October 14, 2021 @03:12AM (#28861378)
All your payments data is aggregated, correlated across different providers, repackaged and resold on such a massive scale that any notion that you have any privacy left is sadly very quaint.
Re:G7 finance officials endorse principles for central bank ... by rich_sasha on Thursday October 14, 2021 @03:17AM (#28861404)
True, but at least this is all for money and takes effort to aggregate. A kind of “proof of work” for government privacy invasion.

Central Bank Digital Cash puts it on a central server, time stamped and with access logs.

Re:G7 finance officials endorse principles for central bank ... by lettergram on Thursday October 14, 2021 @10:03AM (#28864343)
It’s not as collected as you may think. I work in the space and the data you can use in most cases is extremely limited. The companies determining credit ratings know quite a bit, banks themselves are relatively limited. They definitely can’t watch every transaction.
Re:G7 finance officials endorse principles for central bank ... by ur-whale on Thursday October 14, 2021 @02:53AM (#28861276)
> Not really looking forward to a global currency

Yeah, this is a fascist's wet dream.

Re:G7 finance officials endorse principles for central bank ... by ChainOfFools on Thursday October 14, 2021 @03:58PM (#28869195)
bitcoin maximalists want exactly this to happen
Re:G7 finance officials endorse principles for central bank ... by legulere on Thursday October 14, 2021 @02:16AM (#28861061)
How is that connected in any way to a vaccine passport?
Re:G7 finance officials endorse principles for central bank ... by lettergram on Thursday October 14, 2021 @02:29AM (#28861140)
https://www.smartcompany.com.au/business-advice/legal/nsw-bu...

If you conduct business with an unvaccinated person you receive $5k fines in Australia. $1k to the individual.

This has been escalating, one thing I suggest to people — pull out your vaccination card. How many slots are on the card? They could have made the card fit into your wallet, if it’s was smaller and didn’t have 4 slots for those 2 shots. Oh darn, now you have to use the app.

This isn’t going to stop.

“Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world” — Henry Kissinger

Re:G7 finance officials endorse principles for central bank ... by chinathrow on Thursday October 14, 2021 @04:21AM (#28861744)
> This isn’t going to stop.

In some countries, it will, of course, stop. The goal in most countries is not to live with a vaccination passport forever, the goal is to curb and end the global pandemic. Once this goal has been achieved, vaccinatoin checks will go away.

Re:G7 finance officials endorse principles for central bank ... by unabirra on Thursday October 14, 2021 @12:29PM (#28866432)
You are very naive if you believe this will go away anytime soon. They don't call it the "new normal" for no reason.
Re:G7 finance officials endorse principles for central bank ... by zapdrive on Thursday October 14, 2021 @07:43PM (#28871795)
Just like how TSA went away after we ended global terrorism?
Re:G7 finance officials endorse principles for central bank ... by bpodgursky on Thursday October 14, 2021 @02:21AM (#28861088)
Do you think it's many steps away?

For example: Seattle is about to ban in-person dining w/o a vaccine card. An easy way to enforce that? Have the credit card processors reject payment at a dining establishment from anyone who hasn't proven vaccination status w/ Visa and MasterCard.

When there's a central gov agency with control over financial transactions I 100% guarantee every crusade of the moment is going to try to use it as leverage.

Re:G7 finance officials endorse principles for central bank ... by te_chris on Thursday October 14, 2021 @02:47AM (#28861237)
That’s not an easy way to enforce that! An easy way is just to have people check ids, like they’re going to do I assume -same way most of Europe is doing it.
Re:G7 finance officials endorse principles for central bank ... by Sargos on Thursday October 14, 2021 @12:28PM (#28866416)
Restaurants can't even hire enough people to actually keep their businesses open some days and on good days you'll see a sea of empty tables and a wait-list to get in and now they are supposed to have someone dedicated to checking IDs too? I guess the 16 year old at the front will perform that duty diligently too.
Re:G7 finance officials endorse principles for central bank ... by bpodgursky on Thursday October 14, 2021 @03:05AM (#28861333)
It's much, much easier for the government to exert control over the financial institutions than to ensure that businesses are checking IDs manually (many businesses will not bother, out of either principled disagreement or apathy).
Re:G7 finance officials endorse principles for central bank ... by chinathrow on Thursday October 14, 2021 @04:59AM (#28861943)
> It's much, much easier for the government to exert control over the financial institutions

Citation needed. Europe has been rolling out proof of vaccination at high speed and with low costs associated.

Oh and yes, most business do bother and check thoroughly (scan of QR code which is proof of vaccination/recovered/negatively tested status, check ID matches name on certificate).

Control through financial instituations is not even possible, how so?

Re:G7 finance officials endorse principles for central bank ... by walterbell on Thursday October 14, 2021 @04:45AM (#28861877)
Local restaurants can reject discriminatory and un-scientific vaxport mandates by closing their in-person dining room and serving takeout only -- to any customer. With a discount for cash purchases.

Or get a good lawyer, pool with other restaurants and challenge the fines. Some states have lost in court against challenges to 2020 restrictions, fines were voided and the state had to cover legal costs for the lawsuit which challenged the state.

Re:G7 finance officials endorse principles for central bank ... by inter_netuser on Thursday October 14, 2021 @03:07AM (#28861343)
Because quite literally the same vendors who built vaccine passports are bidding on CBDC contacts?
Re:G7 finance officials endorse principles for central bank ... by inter_netuser on Thursday October 14, 2021 @02:22AM (#28861096)
It's gonna happen. The same vendors developing vaccine passports have been bidding on CBDC contracts.