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Many of us believed that the blockchain would free us from centralized bodies like governments. The latest report of the EU Blockchain Forum examining blockchain technology and as stated by The next Web, it's starting to "I sound more like 1984 than ever."
In the last report of the forum, it is described in detail how to blockchain realize its full potential within government institutions, digital identity systems and digital versions of their national currencies should first be investigated.
"Digital identity is the key element and a key area that governments can focus on. Another important element … is having digital versions of national currency on the blockchain, for example through currencies central banks based on blockchain (CBDC). "
In the report, he states that digital currencies should be a necessity before developing any future institutional block. The forum believes that blockchain could provide a platform where everyone would have a "trusted" digital identity.
In addition, in the report, they support the state-owned blockchains by implying that the government would be a better custodian of our web identities than centralized organizations such as the search engine giant, Google and the social network giant, Facebook. This is because the data breaches and the hacks they have suffered.
Although the report states that blockchain identity systems should be self-sufficient and user-controlled, this does not change the fact that your entire identity is part of a government system that could be used to keep track of everything you do on line.
Of course, the government is not prevented from tracking data requests just because the user has control over their data. If blockchain was a public entity, anyone would be able to see this information and do what it wants with it.
Even scams, frauds and thefts are not out of the game. The blockchain is commonly considered the holy grail of all that will solve the problems that afflict the modern world but does not mean that it is always the ideal solution.
"If digital identities owned by the government coexist alongside government fiat currencies, it would be very easy to attribute spending habits to an individual identity."
What are your thoughts? Let us know what you think in the comments below!
