Cryptocurrency becomes an instrument of tyranny

From ubiquitous surveillance to negative interest rates, crypto offers dictators and global business leaders new ways to intimidate , to oppress and subjugate mankind.

Proponents describe Bitcoin (BTC) and other cryptocurrencies as antidotes to totalitarian governments and central banks. Simultaneously, international corporations and startups designed blockchain platforms and products that could be used on behalf of totalitarian governments and central banks.

For example, Microsoft has filed a patent application for a cryptocurrency system that uses body activity data. As part of the cryptocurrency mining process, the cryptocurrency system gives a task to your device, asking you to perform a "human body activity".

A sensor in the user's device records bodily activity, then the cryptocurrency system rewards the user. "The detected body activity is associated with the received task and transmits the generated body activity data to a system or network, which verifies the body activity data to assign the cryptocurrency."

It's reminiscent of Justin Timberlake's movie In Time, where a future society uses the time of their lifetime as their primary currency, with each individual having a clock on their arm that counts down how many time he has to live. When the clock hits zero, they're dead.

Olsztyn, Poland leveraged the Ethereum blockchain to conduct a trial of SmartKey, a bridge technology that connects blockchain technology to, for example, your home lock.

They say it's to "help police, fire and ambulance services" (read: for your safety). SmartKey allows emergency crews to enter any building in the city without needing to find the keyholder or wait for authorization.

Related: Blockchain Association Policy Officer: US Shouldn't Compete With Chinese CBDC Using Surveillance Tools

"The need for our rescue services to perform their duties unhindered is a delicate matter...