COVID TO USHER IN A DIGITAL CRYPTO TO EFFECT YOUR BEHAVIOUR
The end of cash is on the horizon as we move from E- Wallet, Fiat Currency to digital payments and a crypto blockchain all tied to your social credit score namely are you an upright citizen who upholds the government mantra?
Digital Wallet A digital wallet (or e-wallet) is a software-based system that securely stores users' payment information and passwords for numerous payment methods and websites. By using a digital wallet, users can complete purchases easily and quickly with near-field communications technology. They can also create stronger passwords without worrying about whether they will be able to remember them later. Digital wallets can be used in conjunction with mobile payment systems, which allow customers to pay for purchases with their smartphones. A digital wallet can also be used to store loyalty card information and digital coupons. Digital Wallet Explained Digital wallets largely eliminate the need to carry a physical wallet by storing all of a consumer's payment information securely and compactly. Also, digital wallets are a potential boon to companies that collect consumer data. The more companies know about their customers' purchasing habits, the more effectively they can market to them. The downside for consumers can be a loss of privacy. Digital wallets allow many in developing nations to participate more fully in the global financial system. Digital wallets allow participants to accept payments for services rendered, as well as receive funds or remittances from friends and family in other nations. Digital wallets do not require a bank account with a physical firm or branch, often allowing those in poorer and rural areas to be served as well and therefore enables a wider financial inclusion. Cryptocurrencies rely solely on digital wallets to maintain balances and make transactions, for instance with Bitcoin or other digital currencies. They want ALL your tax revenues, cash can be manipulated. The serve Bank governor Philip Lowe aka criminal said in December he doubted Australia would become a completely cashless society, adding that cash still plays an important role as an emergency payment method, although he admitted cash could become rarer. Meanwhile, the ATO revealed on Monday that businesses operating in cash deals accounted for up to $50 billion in unpaid taxes. Consumer affairs journalist and spokesperson for the Cash Welcome campaigns Jason Bryce said cash is king in Australia, after his petition, which calls for government legislation to ensure the right to access and use cash, attracted more than 10,000 signatures from Aussies. “Cash is the most reliable way to pay,” he said. “Consumers don’t want a cashless society. “It’s time for Australia to protect cash,” he added. “Without cash in our pockets or without supermarkets and retailers that accept cash, consumers can be left without food and essentials.” Listen to this bullshit propaganda from a leading economist " Giant swathes of the world’s population have shunned physical currency for fear of contracting the virus. Indeed, at the start of lockdown, it was widely reported that the World Health Organisation (WHO) warned that banknotes may be partly to blame for the lightning-fast rate of infection. It was suggested that Covid-19 could cling to the surface of paper and polymer notes for several days. . F#$K covid can be blamed for anything and everything these days. They never miss a chance to exploit. Anyway the writing is on the wall. Cryptocurrency A cryptocurrency is a type of digital currency created from code. They function outside of traditional banking and government systems. Cryptocurrencies use cryptography to secure transactions and regulate the creation of additional units. Bitcoin, the original and by far most well-known cryptocurrency, was launched in January 2009. Today there are over 1,500 cryptocurrencies available online. Cryptocurrencies differ significantly from traditional currencies as they use blockchain technology to create a distributed ledger. Nonetheless, you can still buy and sell them like any other currency and can also trade on the price movements of various cryptocurrencies via CFDs. Cryptocurrencies fall under the banner of digital currencies, alternative currencies and virtual currencies. They were initially designed to provide an alternative payment method for online transactions. However, cryptocurrencies are not yet widely accepted for all transactions as some consider them too volatile to be suitable as methods of payment. As a decentralised currency, it was developed to be free from government oversight or influence, and the cryptocurrency markets are instead monitored by peer-to-peer internet protocol. Two main elements of cryptography apply to cryptocurrencies – hashing and digital signatures: Hashing verifies data integrity, maintains the structure of the blockchain and encodes people’s account details and transactions. It also generates the cryptographic puzzles that makes block mining possible. Digital signatures allow an individual to own a piece of encrypted information without revealing that information. With cryptocurrencies, this technology is used to sign monetary transactions and demonstrates ownership. Blockchain technology A blockchain is the decentralised, public ledger or list of a cryptocurrency’s transactions. Completed blocks, comprised of the latest transactions, are recorded and added to the blockchain. They are stored in chronological order as an open, permanent and verifiable record. An ever evolving network of market participants manage blockchains, and they follow a set protocol for validating new blocks. Each ‘node’ or computer connected to the network automatically downloads a copy of the blockchain. This allows everyone to track transactions without the need for central record keeping. Blockchain technology creates a record that can’t be changed without the agreement of the rest of the network. The blockchain concept is attributed to bitcoin’s founder, Satoshi Nakamoto. This concept has been the inspiration for other applications beyond digital cash and currency. Block mining Coin mining is the process of attaching new transaction records as blocks to the blockchain. In the process – using bitcoin as an example – new bitcoins are credited to the miners, adding to the total number of coins in circulation. Mining requires a specific piece of software that is used to solve mathematical puzzles, and this validates the legitimate transactions which make up blocks. These blocks get added to the public ledger (blockchain) at regular intervals. As the software solves transactions the miner is rewarded with a set amount of bitcoins. The faster a miner’s hardware can process the mathematical problem, the more likely it is to validate a transaction and earn the bitcoin reward. Bitcoin is credited with being the first decentralised cryptocurrency. Like all cryptocurrencies, it’s controlled through a blockchain transaction database, which functions as a distributed public ledger. Bitcoin was created by Satoshi Nakamoto – whether the name refers to an individual or a group is unknown. A feature of most cryptocurrencies is that they have been designed to slowly reduce production and some have an absolute limit on supply. Consequently, in some cases only a limited number of units of the currency will ever be in circulation. For example, the number of bitcoins is not expected to exceed 21 million. Cryptocurrencies such as ethereum, on the other hand, work slightly differently. Issuance is capped at 18 million ethereum tokens per year, which equals 25% of the initial supply. Limiting the number gives it higher value. The development of Bitcoin and thousands of other cryptocurrencies in a little over a decade has changed the definition of money — and spawned a parallel universe of alternative financial services, allowing crypto businesses to move into traditional banking territory. Here’s what is happening in the fast-growing crypto finance industry, a sector that has officials in Washington sounding alarm bells. Crypto is very volatile, making it less practical for transactions like payments or loans. That’s where stablecoins come in. They are cryptocurrencies pegged to stable assets, commonly the dollar. They are meant to provide the steady value of government-issued money in digital form for blockchain transactions, but they are issued by private entities. Popular dollar-tied tokens include Tether and U.S.D. Coin. The number of stablecoins in circulation globally has jumped from $29 billion in January to $117 billion as of early September, according to The Block, a publication dedicated to cryptocurrency. Now read thi carefully " Others suggest a central bank digital currency would render stablecoins irrelevant. " Sounds like the Biblical One World Currency under the AntiChrist. The New World Order on steroids. Now why this lust to eliminate cash? To move your monies to a digital system backed by blockchain. Seems like progress doesnt it. How about we tie your social credit score and how complaint a citizen you are to the matrix? Howdoes the Social Credit System work Trivium China, a Beijing-based consulting firm, explained in a recently published report on the topic that the SCS is made up of three interconnected components: A master database, a blacklisting system and a punishment and rewards mechanism. Yes jaywalking is a punishable crime. I for one running this website would be probably executed. According to the report, provincial and city governments, state agencies and the central bank have already been funnelling their data into a "master database" called the National Credit Information Sharing Platform (NCISP). Kendra Schaefer, head of digital research at Trivium China, told the ABC that different agencies had made various levels of progress hooking their datasets into the master database. In recent years government agencies have also developed their own blacklists and red lists (for good behaviour) and have the power to blacklist companies and individuals that fall under their own jurisdiction. In 2016, dozens of government agencies signed agreements to create a series of national blacklists known as the Joint Punishment System. This means individuals and companies that fail to comply with the law in one regulatory jurisdiction also face restrictions in other aspects of their lives or operations. People were put on the blacklist when they failed to carry out a court-ordered judgement, such as paying a court award. "It has really wide-reaching consequences, including a plane ban, a ban on riding on the best trains, some that I really don't care for, like your children can't go to private schools," Mr Daum explained. The use of big-data collection and analysis combined with increased use of surveillance technology across China has given rise to concerns around eroding privacy and violation of human rights. Delia Lin, a senior lecturer in Chinese studies at the University of Melbourne's Asia Institute, told the ABC she believed Chinese President Xi Jinping's ambition was to create "a completely transparent society". "[It's known as] transparent social governance … it means that everyone looks naked; all your data is shown, there's no privacy at all," she said. "The framing of Social Credit as 'Orwellian' I think is fine, because that's ultimately what it is. The future? Its regulation covered what information can be collected, what is considered untrustworthy behaviour, punishment measures, and what people can do to challenge incorrect information. So questioning the rNA vaccine, your civil liberties, your right to host a website such as this would be deemed criminal and be greeted with jail offences. And what will bring in this prison planet?
Their favorite son the bastard son called Covid. Enough of economics they bore the shit out me " Better the little that the righteous have than the wealth of many wicked; 17 for the power of the wicked will be broken, but the LORD upholds the righteous. " Psalm 37:16-17