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RE: Preparing for the Banking Apocalypse resulting from the Equity Drain created by Cryptocurrencies
Excellent post @zoidsoft and an interesting perspective which I would love to be the case but Iam more suspicious than yourself it would appear regarding the possibility of blockchain technology being used against us rather than a means of setting us free. You clearly have a better understanding than myself as to how everything works and fits together but I have learned to be skeptical and to always look for the negative when I'm being shown the positive, so I still have my doubts.
It's possible that we can end up with a digital panopticon for a while which I talked about in a few previous posts. I only briefly mentioned that at the end of this post. The problem with using biometrics directly is that eventually those metrics get compromised and can no longer be used as a reliable single source of identity information. The reality is that we really don't need identity in the vast majority of cases.
The better course would be to use biocryptics which uses biometrics as an input to a hashing algorithm so that PII (Personally Identifiable Info) can be protected. Barring that, you eventually end up with Equifax magnitude data breaches that lead to the necessity for 2FA, 3FA etc. There's a much better solution...
I don't question their intent to do evil, but I do question their ability.
This video is an excellent explanation why centralized security is fatally flawed... (this is the lack of ability I talk about)