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Chukwuka Osakwe
@chukwukaosakwe
enter: stablecoins https://www.businessinsider.com/peter-thiel-is-trying-to-save-the-world-2016-12?r=US&IR=T
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boscolo.eth
@boscolo.eth
The lesson of PayPal: Stablecoins without privacy builds the hell on earth Thiel was trying to prevent.
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Chukwuka Osakwe
@chukwukaosakwe
say more? the author actually has the opposite reaction.
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boscolo.eth
@boscolo.eth
In the article, it quotes Thiel saying: "PayPal will give citizens worldwide more direct control over their currencies than they ever had before. It will be nearly impossible for corrupt governments to steal wealth from their people..." PayPal, has a history of doing exactly the opposite of this. Here's one story: https://www.cbc.ca/news/canada/manitoba/paypal-freezes-flin-flon-newspaper-syrian-refugees-1.3977292 The author correctly attributes this failure to 9/11 (ie. Patriot Act), none the less, PayPal became a tool of the state because payments were not private. The same will be true with stablecoins. Without privacy in payments there is no individual freedom. If Theil's goal is world wide individual freedom, then privacy in payments is crucial. If Theil's goal is "the decisive path to a truly global pax America", then USDC on Base and Solana FTW!
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Chukwuka Osakwe
@chukwukaosakwe
right. that does make sense. will check out the article.
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