Shapeshift Moves to Membership Model Requiring User Information
OK, critics miss an important points about personal information.
First, we need enforceable human contracts to provide cash in advance (and deposits in advance). Prequals are needed to contain the monetary surprises a bit. Second, the government intrusion is aided by limits on private cryptography. Members can join anonymously when they have the secure intelligent cash card. But that device is prohibited by governments.
The solution is a workaround, something like the Google private key fob. Then let Google advance the cause of anonymous transactions. Once Google is on board we get a lobby in government. It is a sad state of affairs, but the monopolies often protect us from our own elected officials. Here is a case of voters needing Google to manage our vote on anonymity. We would prefer voters who understand the issue but the state security apparatus has legislatures and voters confused.
If we do not get anonymous transactions, the monetary system breaks down during the transition to digital. The conflict arises on robotic trades, happening hundred of times a second. We can neither have the bot report evey transaction by name, nor can traders trust their bots in a trading pit unless other bots are guaranteed the same prequal requirements. Digital money is auto-traded. If auto-trading ie restricted, banking collapses in the network.
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