Re:Why CBDCs will be ID-based
by billdietrich1 on Saturday March 12, 2022 @06:28PM
(#30656088)
But KYC generally is not required for cash transactions. Why can't we have anonymous digital transactions, as long as they are size-capped and rate-limited ? How is sending $300 through that kind of CBDC system different from me handing $300 cash to my friend ? Is it that the CBDC just wouldn't have the "friction" that cash does, so any limits are evaded easily ?
[ Parent
| on HN ]
If they're anonymous, what's stopping a bad actor from creating tons of accounts to circumvent limitations?
Cash is impractical, and on and offboarding of serious sums raises questions ( you can't easily withdraw or deposit massive amounts of cash without the bank asking questions/flagging transactions, and even if you could, transporting it is cumbersome).
Re:Why CBDCs will be ID-based
by billdietrich1 on Monday March 21, 2022 @05:02PM
(#30759662)
Is there no good way to size-cap and rate-limit anonymous accounts ? Maybe not, if the bad guys slowly build up a large mesh of accounts and use bots that use lots of different IP addresses etc.
Re:Why CBDCs will be ID-based
by aaaaaaaaata on Saturday March 12, 2022 @09:35PM
(#30657323)
> Why can't we have anonymous digital transactions
It makes law enforcement work.
Re:Why CBDCs will be ID-based
by billdietrich1 on Monday March 21, 2022 @04:58PM
(#30759620)
But we have anonymous cash transactions, and somehow law enforcement still works.