RE: What happens when every business wants to launch a stablecoin?
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She talked about tokenized deposits and that's something I know JP Morgan to be planning to launch one called JPMD.
But besides this, regular stablecoins are still a significant piece to government surveillance being that at the end of the day, every USD-pegged stablecoin is an access-point to a central bank currency.
When most of these access points are centralized entities, then control of global finance by the government becomes easier to implement.
That said, she also made mention of the tokenization of real world assets also being an act of surveillance and that is something I never really thought about. What really is the risk of bringing every piece of real world item into having a digital ID?
Definitely something to look into!
I was reading an article earlier today that DOGE went into the social security administration and downloaded everyone's personal data into unsecure data base. They said information like that, unsecured, can lead to breaches from foreign entities and hackers and now can also be handed over to other government agencies, up to and including to further the advancement of digital id's. Makes you wonder why no one is stopping any of this. They said if nothing was done about it, the only way to fix it as it stands now if the information becomes more compromised would to be to issue every American a new social security number which would come at an astrominical cost.
Do you have the link?