Bitcoin Is Cash Under Perfect Surveillance
In many ways, the internet, which was originally seen as a tool of expression has also come with the vulnerability of being a perfect outlet for surveillance. Our online, mobile, and electronic communications are under constant surveillance from institutions with vested interest in collecting an assortment of important political, personal, and economic data.
The bitcoin blockchain houses a vast amount of economic data waiting to be collected, temporarily hidden behind a veil of cybersecrecy. The possibility of tracking spending patterns could lead to gathering data on the users of the bitcoin network. Could it be that technologies of digital money, which initially present themselves as a bastion of individual freedom, will be subverted by institutions of power into a twisted form of panopticon?
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