Crypto currency and censorship

[FermatsTheorem]

So, Facebook/WhatsApp are launching a crypto currency.

Suppose this takes off and becomes an integral part of many people's financial lives? What happens if Facebook then suspend your account for holding GC views?

We could end up in a situation where a private company has the power to financially sanction you for wrongthink.

I think there are already examples of this happening. IIRC one of the high street banks closed the account of a GC group. And I seem to remember PayPal refusing to handle certain transactions (not connected with GC views; I think it was a crowdfunding for Assange, prior to the rape charges being brought).

Of course any private business can refuse your custom - but this feels to me like very scary over-reach of corporate power.

Yep I think people have lost any amazon gift voucher credit if their accounts have been suspended.
If you can buy things with something then it's a currency and it should be regulated.

I'm starting to think that tech companies are as big a threat to democracy as China etc. It's seeping through all our institutions and social spaces like toxic air pollution, unseen, uncontrolled until the damage is done.

Tech companies are a bigger threat to democracy than China.

And yet it is only online on places like mumsnet where women can convene and have their opinions heard. Our opinions don't exist in mainstream media

They're certainly up there, Birds.

I can see us going the way China has, in that to get access to certain foods and services, you have to have built up "social capital" by liking and retweeting the right things online, only the system will be presided over by corporate employees rather than government.

Huh well that's me stuffed. Never have, never will have a Facebook account. As for what's app only use it during the on season for coordinating games and training for DS2 sports team. Or keeping track of each other while travelling.

I've never must understood the whole crypto currency thing. But when powerful corporate entities get involved it never ends well.