this post was submitted on 24 Jul 2025
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[–] Mk23simp@lemmy.blahaj.zone 48 points 1 week ago* (last edited 1 week ago) (10 children)

In theory, crypto could be good for this, but crypto is used (and designed) more as an investment than a transaction tool.

Also, the issue here is not centralized currency under a government, it's centralized payment processing under monopolistic private companies. Crypto is not required to solve that, all that is needed is an alternative payment processor (in an ideal world, probably a public one run by that government, since in a modern world that seems like an essential service to me).

[–] FishFace@lemmy.world 20 points 1 week ago (5 children)

It's a good point, but a payment processor run by the government would also be under pressure (from voters) to wield its power to suppress marginal content.

Imagine a US-government-run payment processor right now - it would be blocking anyone that sells anything "woke" or "DEI".

[–] Mk23simp@lemmy.blahaj.zone 20 points 1 week ago (4 children)

I am a strong believer in democracy. I don't think that the answer to a bad government is to reduce the power of the government, because that power will inevitably go to undemocratic institutions. Only the government is accountable to the people. So even when the government is currently controlled by people I dislike, I still want more things to be brought under the power of the government rather than privatized.

The answer to bad government actions, in my view, is to fight for a more democratic government, and zealously advocate for good ideas among the voting population.

[–] FishFace@lemmy.world 3 points 1 week ago

Yeah, that's a good point. I guess in light of that what I would say is that, if you are going to have a state-run payment processor, you need to build in a) pluralism (enable and encourage multiple processors) and b) legal protections (legally guarantee that the payment processor has a limited remit in terms of allowing all payments unless instructed to block them by a court order) which would help mitigate or slow down anti-democratic backsliding.

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