I’ve decided to open up to an unusual degree simply because I’m curious how like-minded the Electroneum community is, when it comes to this moral dilemma.
I’ve always been extremely focused on privacy and the problems with modern society being so willing to give it up. I initially joined the crypto space (aside from profit seeking) as an idealist, with a custom made tin-foil hat and an anti-bank mentality.
Electroneum started as a privacy coin (fork of Monero) and I thought it would make an excellent private side-stash. I never expected to even use the phone app because of security concerns.
However… The evolution of Electroneum brought up a paradox in my mentality - Electroneum’s roadmap is completely in support of the ideology that cryptocurrencies should provide empowerment to the people. Ironically, I totally support KYC because it is the best solution for enabling a huge population with financial freedom. I think it’s incredible that we can take part in providing that to the world.
These days, it’s a social norm to give out detailed information on every moment of your day, as well as Biometric data, every interpersonal connection you make, etc. all in the name of convenience.
Cryptocurrency is going to enable people to have more control over their lives, while at the same time making it easier and easier for institutions to log every single financial transaction you make. How can one possibly weight these two things against one another?
Yes this is philosophical blabber with no attainable resolution, but I still think it’s important to discuss the topic, now and again.