The technology of blocking and crypto-currencies began as a libertarian dream: users wanted to get money that was not controlled by banks and the government. Nine years after the appearance of bitcoin, Satoshi Nakamoto's values become more and more like a fairy tale. Every year, state regulators are increasingly tightening the hammer on the neck of crypto-instruments, traders and organizers of the ICO.

However, the most experienced users are not frightened at all this: they are afraid that the authorities can use the block to get total control over the population. We are talking about the so-called CBDC - crypto-currencies, issued by central banks.

Advantages of CBDC

On the one hand, crypto-currencies from the central bank have many advantages over conventional money. To begin with, they would allow fully automate taxes: all fees could be withheld when you received or spent money.

The profession of a tax inspector and an accountant will disappear, since there simply will not be any need for them. In addition, it will save a huge amount of money. For example, the American economy loses about $ 233 billion precisely because of the complex and long calculation of taxes.

The introduction of CBDC into the state budget will significantly increase the credibility of politicians, because any pre-election promise can be prescribed in smart contracts. Expenses of any agency will become as transparent as possible. This will completely eradicate corruption and increase the effectiveness of public administration.

That is why officials of many countries often speak in support of the CBDC. For example, the US authorities are considering the possibility of creating a hypothetical crypto currency FedCoin, issued by the Federal Reserve System (FED).

Not so simple

Nevertheless, such a coin has a downside - it gives the state too much power. Network paranoiacs are sure that sooner or later governments will find a way to take full advantage of digital money without losing control over them.

Everything will begin with the creation of a national crypto-currency, emitted by the central bank. At the same time, the backdoor code will be left in the code of the blocker, a software loophole allowing access to users' resources. This will allow the state to seize and freeze funds, without waiting for a court or bank decision. In parallel with this, there will be a complete destruction of independent crypto-currencies - bitcoin, ether and so on. From the turnover will be removed and cash, as they are too difficult to control.

Despite the fact that the above sounds like a paranoia or a script for a dystopian novel, the gloomy future is closer than it seems. For example, China has long been developing a system of "social rankings". Residents will be awarded points from 350 to 950. The number of points determines the value of a person as a citizen. Each violation of the law will reduce the rating, and at the same time block access to various material goods, education and so on. "Low-ranking" citizens will not be able to travel by train and fly on airplanes, send children to good schools, take loans and much more. It is noteworthy that the points are deducted not only for offenses, but also for friendship with people who have too low a rating, as well as for "wrong" purchases.

To implement such a large-scale surveillance of the population, the Chinese government installed a huge number of cameras, and also introduced a system of face recognition, capable of "seeing" an individual even in the thousands crowd.

A few days ago, there were eerie reports about drone in the form of birds that circled above cities and watched citizens. At the moment, the Chinese are testing a system of total surveillance in two cities. For example, facial recognition has been used in schools, tracking inattentive or cheating pupils.

It is assumed that the social rating will begin to work already in 2020. For its full implementation, the Chinese authorities lack only one element - the controlled monetary system. Alas, this is not for long - the digital currency laboratory at the People's Bank of China is actively developing its own crypto currency, which will one day replace the money of the philanthropy.

This week, the agency filed more than 40 patent applications for technology, which will form the basis of the future coin. It remains to be seen how soon the experience of the Chinese will be appreciated by the special services and the governments of other states.

Summing up

Blokchan-technology can give mankind an independent financial system that is not controlled by any government. Unfortunately, Satoshi Nakamoto's dream is very easy to turn on its head, putting digital money on the service of a global dictatorship.

Blokchein can be compared with nuclear energy, which can feed our cities, or wash them in the dust in no time. Obviously, the widespread introduction of crypto currency is inevitable, but only we can decide how to use them.