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Last week, PayPal announced a partnership with the left-wing Southern Poverty Law Center to “investigate” the role of “white supremacists” and propagators of “anti-government” rhetoric, subjective labels that potentially could impact a large number of groups or people using their service. PayPal says the collected information will be shared with other financial firms and politicians. Facebook is taking similar measures, recently introducing messages that ask users to snitch on their potentially “extremist” friends, which considering the platform’s bias seems mainly to target the political right. At the same time, Facebook and Microsoft are working with several other web giants and the United Nations on a database to block potential extremist content.
The implications of these crackdown efforts will be significantly more broad than just prohibiting Donald Trump from tweeting at 3 a.m. Young people cannot effectively function in society if blocked from using Facebook, Twitter, Gmail, Uber, Amazon, PayPal, Venmo and other financial transaction systems. Some banking platforms already have announced a ban on certain legal purchases, such as firearms. The growth of such restrictions, which will only accelerate with support from (usually) left-wing politicians, could create a system in which individuals who do not hold certain political views could be blocked from polite society and left unable to make a living.
The same companies that can track your activities and give you corporate rewards for compliant behavior could utilize their powers to block transactions, add surcharges or restrict your use of products.
originally posted by: TonyS
My take on this is, like it or not, this is the way things will probably go if for no other reason than "it can be done" but also because its such a powerful mechanism for social control and social engineering.
originally posted by: AugustusMasonicus
originally posted by: TonyS
My take on this is, like it or not, this is the way things will probably go if for no other reason than "it can be done" but also because its such a powerful mechanism for social control and social engineering.
No 'probably' about it, it's going there along with a whole host of other digital initiatives.
Banks and tech companies will be the gatekeepers of the majority of your personal information and history unless you decide to almost completely disengage from most regulated interactions/transactions.
originally posted by: Edumakated
The problem is that it is really difficult for the average person to completely disconnect. You can barely do anything unless you are part of the social system these days... banking, credit, employment, etc.
originally posted by: TonyS
Young people cannot effectively function in society if blocked from using Facebook, Twitter, Gmail, Uber, Amazon, PayPal, Venmo
originally posted by: peter_kandra
I suspect that's one of the main reasons that banks were initially opposed to crypto.
originally posted by: imitator
so many PayPal alternatives nowadays...
...even eBay doesn't use them anymore.
originally posted by: AugustusMasonicus
originally posted by: peter_kandra
I suspect that's one of the main reasons that banks were initially opposed to crypto.
They're not 'opposed to crypto', they just want it highly regulated, which it will be. Get ready for FedPay and FedCoin.
Want to do business with the government of United States of America? You better make sure you can pay via these methods.
The Justice Department has "found and recaptured the majority" of the ransom paid by Colonial, Monaco said.
An affidavit filed on Monday said the FBI was in possession of a private key to unlock a bitcoin wallet that had received most of the funds. It was unclear how the FBI gained access to the key.
originally posted by: CrazeeWorld777
I doubt it will be legal for banks to not allow you to have your money, it's yours afterall and I think Lawyers will be there aplenty to help you out and hopefully for free