From a recent article by MindMatters.ai. “In a continuing discussion with Bari Weiss, PayPal Pioneer David Sacks warns hearers: Let’s start by defining what a social credit system is. A social credit system is a system that pretends to give you civil liberties and freedom. It doesn’t overtly send you to the gulag for expressing dissent. Rather, it conditions the benefits of society—economic benefits, the ability to spend your money—on having the correct opinions. If you don’t, then your ability to participate in online platforms is diminished or curtailed entirely. That’s the situation that we are gradually heading towards…
➤ Purchase-controlled digital currency (programmable digital currency) This is a proposed new form of money that can only be spent on approved items. The idea is that it restricts citizens’ freedoms in order to achieve “socially beneficial outcomes.” It’s similar to the social credit system in China where government can deny citizens the right to purchase, say, a train ticket. Discussion of such programs is further advanced than many people think. There seems little doubt that the current financial industry would go along with it, absent customer revolt.
In the high tech future, securing freedoms we now take for granted will require us to know about and respond to these pressures from institutions that have grand ambitions for all of us.
Here’s a quick rundown on ways Big Tech can limit our freedoms using the technology we have come to depend on https://mindmatters.ai/2022/03/paypal-pioneer-how-big-tech-is-strangling-our-freedoms/
You may also wish to read: The new internet: reclassifying political opponents as “hate groups.” Maybe this is something to talk to legislators about. Why should business law protect firms that refuse to do business with people who disagree with them on philosophical issues even if they pay their bills?”