• Balaji Srinivasan, former Chief Technology Officer of Coinbase, is warning tech giants such as Apple, Microsoft and Google could one day help governments seize digital assets from citizens.
• He says countries may decide to seize digital assets in the future in an attempt to recover from economic turmoil and tech giants have the ability to scan devices and find private keys if they are ordered to do so.
• He believes big tech firms are at risk of helping governments seize digital assets because they have operating system access.
Balaji Srinivasan Warns Tech Giants Could Help Government Seize Crypto
Former chief technology officer of Coinbase, Balaji Srinivasan is warning that some of the most prominent tech companies in the world could one day betray the American people by helping government seize digital assets from citizens. In a new interview on Impact Theory podcast, he explains why G7 nations could consider seizing digital assets in order to recover form economic turmoil and how tech giants like Apple, Microsoft and Google can lend them a hand.
G7 Countries May Consider Seizing Digital Assets
Srinivasan argues that G7 countries may consider seizing digital assets in order to recover from economic turmoil. He believes this would create a branch point in history where either total states transition into Central Bank Digital Currency (CBDC) or communities can own their own startup societies through crowdfunding with cryptocurrency or digital gold.
Big Tech Firms At Risk Of Helping Governments
The Bitcoin bull warns that big tech firms like Apple, Google and Microsoft are at risk of aiding governments if they were ever ordered to do so since they have operating system access. According to him, these companies can easily scan our devices for private keys and hand them over authorities if instructed.
What Does This Mean?
If governments succeed in seizing crypto from citizens it will represent a major shift away from decentralization and towards more control by larger entities such as central banks or states. On the other hand, if asset seizure is not possible it means individuals will be able build their own startups societies using cryptocurrency or crowdfund bits of territory with digital gold as was done during times like Alaska purchase or Louisiana Purchase.
Conclusion
In conclusion Balaji Srinivasan believes that big tech firms such as Apple, Microsoft and Google are at risk of helping governments seize crypto if instructed due to their operating system access which allows them scan devices for private keys and then hand them over authorities.. Thus whether asset seizure is possible or not will shape our future significantly as either way it will bring about massive changes for all of us.