I saw a post that said that Juls platform is gonna provide soon a decentralized Crypto debit card, it’s gonna be a game changer to me, do you know any other way to spend money in everyday life without using a Centralized entity? Soon with the digital currency we’ll be all tracked and I’m looking at alternative options not to be a complete slave to the system
I‘ve had the same hope as well. I’d be interested to see how this would work, since they’d be fighting against every bank and government in existence to make this work.
Decentralization does not equate to anonymity. The blockchain is transparent and anyone can view it. Funds can be traced from wallets to wallets to fiat on-ramps and centralized exchanges.
cash
For a decentralised and/or anonymous payment option to exist I feel like we would need a complete rework of most major societal structures.
Governments would simply disallow anonymous transactions and had full control over electronic vendor payment. It’s easy so indirectly control peoples ability to spend if you control vendor payment.
This sounds relatively simple. You need a wallet app on a phone (like a Metamask style wallet) and to just do P2P transfers. And in real life, everyone just scans the next person’s wallet and sends the money. In the case of stores, if they were willing to take this payment, they could just have a QR code you scan with the amount and a phone that just monitors incoming transactions for their address. Then they could take the coin and convert to fiat.
Couple issues:
1. If it is a fiat backed stablecoin, your account still could be tracked
2. If its not a stablecoin, the vendor might be sensitive to receiving something with price movements
3. If the vendor converts to fiat, you can be tracked back through them. And then if someone really wanted to (read government), they could track back your movements, find you on a security camera, and ask you about your purchase history 😉
My quick questions:
1. What are you trying to avoid being tracked for? Given the blockchains for most cryptocurrencies are public, anyone could conceivably track anyone
2. Could you use cash?
3. Fundamentally, is it conceivable that your actions would ever truly be private in the real world? It seems like there is always something track-able in the real world, because 1) its necessary to provide security for everything in the real world (either through corporations or governments) 2) this security costs money which needs to paid for via fees or taxes.
Interested in your reactions, u/alexxx9_
use cash bro
DeFi credit cards would be a game-changer. You might even earn APY together with getting credit. But I am just in DeFi for some passive income. I am motivated by reliable projects that pay the APY as promsied without having to lose profit to high-end gas fees.
Projects like DAFI and YLD are top for me. The BSC partnerships and integration with DAFI is equal to low gas fee which by implication means I can fully hold on to my 220% APY through super staking.