Cryptocurrency is picking up as an instrument for tyranny

Proponents paint Bitcoin (BTC) and other cryptocurrencies as antidotes to totalitarian governments and central banks. Simultaneously, international corporations and startups alike have designed blockchain platforms and products that could be used on behalf of totalitarian governments and central banks. One example is Microsoft, which applied for a patent for a cryptocurrency system using body activity data. As part of the cryptocurrency mining process, the cryptocurrency system gives a task to your device, instructing you to complete a “human body activity.” A sensor in the user’s device registers the body activity, and then the cryptocurrency system rewards the user. “The sensed body activity is associated with the received task and transmits the generated body activity data to a system or network, which verifies the body activity data to award cryptocurrency.” It’s reminiscent of the Justin Timberlake movie In Time, where a future society uses time from one’s lifespan as its primary currency, with each individual possessing a clock on their arm that counts down how long they have to live. When the clock hits zero, they’re dead.

Full story : Cryptocurrency is picking up as an instrument for tyranny.

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