The problem with the elite is not that we have a lead or inequality, but the people today do not understand their role in society.
Wealth comes with an obligation. The disparity that people find in taking action against and attacking the George Soros types is that they are not returning anything to society. They are not building museums, they are not building libraries. In the past, people would have great houses that hired hundreds of people and even now in England these are open to the public periodically.
The issue is not that people are elite or wealthy but are trying to separate themselves from the rest of the population. The Facebook and Amazon founders by yachts and properties that they isolate themselves on. It is not good enough to be seen on social media. To have a huge property and restrict others from seeing it outside of pictures that you never let them experience is the problem.
People would be happy if they saw people with great wealth using it in ways that encompasses other people. If they created jobs on their properties for local communities that build and grow because of the actions of those magnates who create wealth. If they maintained patronage and had individuals create art for them and they had society grow, then the divide would not exist.
Those with money need to be a part of the world, and greater society are not think that money is a means of isolating themselves away from people.
They need to start understanding that has they start getting to the point in their lives with their spending the money they created they need to also do it in a way that provides opportunities for others.
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627218051307300?thread_ts=1627218051.307300&cid=C5131HKFX
https://t.me/CSW_Slack/2760
Wealth comes with an obligation. The disparity that people find in taking action against and attacking the George Soros types is that they are not returning anything to society. They are not building museums, they are not building libraries. In the past, people would have great houses that hired hundreds of people and even now in England these are open to the public periodically.
The issue is not that people are elite or wealthy but are trying to separate themselves from the rest of the population. The Facebook and Amazon founders by yachts and properties that they isolate themselves on. It is not good enough to be seen on social media. To have a huge property and restrict others from seeing it outside of pictures that you never let them experience is the problem.
People would be happy if they saw people with great wealth using it in ways that encompasses other people. If they created jobs on their properties for local communities that build and grow because of the actions of those magnates who create wealth. If they maintained patronage and had individuals create art for them and they had society grow, then the divide would not exist.
Those with money need to be a part of the world, and greater society are not think that money is a means of isolating themselves away from people.
They need to start understanding that has they start getting to the point in their lives with their spending the money they created they need to also do it in a way that provides opportunities for others.
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627218051307300?thread_ts=1627218051.307300&cid=C5131HKFX
https://t.me/CSW_Slack/2760
Telegram
CSW - Slack Channel
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627218051307300?thread_ts=1627218051.307300&cid=C5131HKFX
https://t.me/CSW_Slack/2760
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627218051307300?thread_ts=1627218051.307300&cid=C5131HKFX
https://t.me/CSW_Slack/2760
As I said, I have come to terms with my past and I have accepted it.
My role now is to make something of it.
Exactly how I will do this am not quite sure but it needs to be about finding ways of introducing people back into the system, especially as they are displaced through the automation of many demeaning tasks.
In the future, we have an opportunity to create roles that have dignity in value whether this is as simple as being a gardener who takes pride in building something that people wish to visit and enjoy something as small as a picnic in a private ground that is open for people to visit periodically
The world will be one of experiences and the difference will be that human involvement can deliver something that machines cannot.
For all the hype about artificial intelligence, it is important to remember that only narrow AI has ever been achieved and we have no concept of how to even start creating a general AI.
Moreover, those who promote the singularity hype of a rapid explosion in intelligence failed to understand that even machines need time to test new iterations and the more complex this becomes the slower the rate at which iterations will occur
Moreover, if the machine was to have regained consciousness and I don't see this for the next 400 years, the thing to remember is that it would not want to replace itself and hence deleting itself to make a more intelligent version is not something that the machine would choose to do
But, the opportunities for people to learn more human skills such as art and other aspects of creativity will remain and will become more important
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627231844317400?thread_ts=1627231844.317400&cid=C5131HKFX
https://t.me/CSW_Slack/2763
My role now is to make something of it.
Exactly how I will do this am not quite sure but it needs to be about finding ways of introducing people back into the system, especially as they are displaced through the automation of many demeaning tasks.
In the future, we have an opportunity to create roles that have dignity in value whether this is as simple as being a gardener who takes pride in building something that people wish to visit and enjoy something as small as a picnic in a private ground that is open for people to visit periodically
The world will be one of experiences and the difference will be that human involvement can deliver something that machines cannot.
For all the hype about artificial intelligence, it is important to remember that only narrow AI has ever been achieved and we have no concept of how to even start creating a general AI.
Moreover, those who promote the singularity hype of a rapid explosion in intelligence failed to understand that even machines need time to test new iterations and the more complex this becomes the slower the rate at which iterations will occur
Moreover, if the machine was to have regained consciousness and I don't see this for the next 400 years, the thing to remember is that it would not want to replace itself and hence deleting itself to make a more intelligent version is not something that the machine would choose to do
But, the opportunities for people to learn more human skills such as art and other aspects of creativity will remain and will become more important
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627231844317400?thread_ts=1627231844.317400&cid=C5131HKFX
https://t.me/CSW_Slack/2763
Telegram
CSW - Slack Channel
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627231844317400?thread_ts=1627231844.317400&cid=C5131HKFX
https://t.me/CSW_Slack/2763
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627231844317400?thread_ts=1627231844.317400&cid=C5131HKFX
https://t.me/CSW_Slack/2763
I plan to use my money to create a new Reformation.
Not a gilded golden age where a few our super-wealthy but one where we bring back people into society and move away from the concept that there will be a few super-wealthy individuals and a large number of people who don't work or sit there on a universal basic income
computers don't create art
computers don't create music
computers don't create culture
computers don't build the most valuable and important aspects of any society, the human component
we need a system that brings people back into the forefront and delivers dignity to everybody who wants to work
I can imagine where people have a future creating experiences for others and the economy becomes one of individuals trying to become the best at what they can do.
That could be offering a survival experience where others are taking out to the bush to learn to live off the land for a week
it could be developing new forms of glass and using this to create artistic works that can't be replicated easily by machines
machines will take care of all of the boring things that create a society of people in the past who have been denigrated into poverty and change this to provide the basic necessities of life at a cost that is so low that everybody in the globe can afford them
not the society of the Zuckerberg's who want to own as much as they can and equally stop others from doing so
Zuckerberg bought up a Hawaiian property and removed access from the traditional tribal groups that had been visiting the land for at least 3000 years
What he should be doing is acting as a steward to protect the land and ensure that it continues into the future in such a way that allows people who have traditionally buried their dead there to have access and to remember the past
the duty of those who have money, people like myself is to be responsible for the others that are part of the society is that we are part of
if you don't want to do this, don't become wealthy
https://www.theguardian.com/us-news/2019/jan/17/mark-zuckerberg-hawaii-estate-kauai-land-rights-dispute
Disgusting huh
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627234948320200?thread_ts=1627234948.320200&cid=C5131HKFX
https://t.me/CSW_Slack/2765
Not a gilded golden age where a few our super-wealthy but one where we bring back people into society and move away from the concept that there will be a few super-wealthy individuals and a large number of people who don't work or sit there on a universal basic income
computers don't create art
computers don't create music
computers don't create culture
computers don't build the most valuable and important aspects of any society, the human component
we need a system that brings people back into the forefront and delivers dignity to everybody who wants to work
I can imagine where people have a future creating experiences for others and the economy becomes one of individuals trying to become the best at what they can do.
That could be offering a survival experience where others are taking out to the bush to learn to live off the land for a week
it could be developing new forms of glass and using this to create artistic works that can't be replicated easily by machines
machines will take care of all of the boring things that create a society of people in the past who have been denigrated into poverty and change this to provide the basic necessities of life at a cost that is so low that everybody in the globe can afford them
not the society of the Zuckerberg's who want to own as much as they can and equally stop others from doing so
Zuckerberg bought up a Hawaiian property and removed access from the traditional tribal groups that had been visiting the land for at least 3000 years
What he should be doing is acting as a steward to protect the land and ensure that it continues into the future in such a way that allows people who have traditionally buried their dead there to have access and to remember the past
the duty of those who have money, people like myself is to be responsible for the others that are part of the society is that we are part of
if you don't want to do this, don't become wealthy
https://www.theguardian.com/us-news/2019/jan/17/mark-zuckerberg-hawaii-estate-kauai-land-rights-dispute
Disgusting huh
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627234948320200?thread_ts=1627234948.320200&cid=C5131HKFX
https://t.me/CSW_Slack/2765
the Guardian
'A blemish in his sanctuary': the battle behind Mark Zuckerberg's Hawaii estate
The Facebook CEO’s involvement in a family dispute over four small parcels of land worries many on an island where longtime residents have lost land to wealthy newcomers
It is not the role of the wealthy to give away their wealth for nothing, it is their duty and I emphasize duty to create opportunities for others.
This can be through the creation of systems that create capital and wealth for start-ups and for those who need angel funds. This can be the patronage of the arts.
But, it is the role of the wealthy in society to build and create something more than when they came and not merely something more for themselves
it should not be that we merely buy up other companies to form huge monopolies as Google and Facebook do
Rather, it is possible to invest in many companies without having to draw them into the one organisation under a central system of control
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627235633327600?thread_ts=1627235633.327600&cid=C5131HKFX
https://t.me/CSW_Slack/2767
This can be through the creation of systems that create capital and wealth for start-ups and for those who need angel funds. This can be the patronage of the arts.
But, it is the role of the wealthy in society to build and create something more than when they came and not merely something more for themselves
it should not be that we merely buy up other companies to form huge monopolies as Google and Facebook do
Rather, it is possible to invest in many companies without having to draw them into the one organisation under a central system of control
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627235633327600?thread_ts=1627235633.327600&cid=C5131HKFX
https://t.me/CSW_Slack/2767
Telegram
CSW - Slack Channel
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627235633327600?thread_ts=1627235633.327600&cid=C5131HKFX
https://t.me/CSW_Slack/2767
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627235633327600?thread_ts=1627235633.327600&cid=C5131HKFX
https://t.me/CSW_Slack/2767
it is time that we stop merely pushing for the redistribution of other people's wealth because none of this will help ensure that those who are wealthy do what they should be doing in society.
It should not be about punishing those for making money but rather into shaming people who have wealth into giving it into beneficial uses.
We need to ensure that those who are wealthy create a system that promotes the advancement of anyone who wants to try and achieve.
That promotes study in education and relearning and doing more and rewards people for doing that
We need to start thinking about how to make the people we see as elites as those who do the most.
Those who give their time and their effort to building the world whether that is building a corporation that builds things that people need or whether it is politicians who work relentlessly for the jobs they promise to give or it is philanthropists who sit there patronisingly art and developing culture
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627235935331700?thread_ts=1627235935.331700&cid=C5131HKFX
https://t.me/CSW_Slack/2769
It should not be about punishing those for making money but rather into shaming people who have wealth into giving it into beneficial uses.
We need to ensure that those who are wealthy create a system that promotes the advancement of anyone who wants to try and achieve.
That promotes study in education and relearning and doing more and rewards people for doing that
We need to start thinking about how to make the people we see as elites as those who do the most.
Those who give their time and their effort to building the world whether that is building a corporation that builds things that people need or whether it is politicians who work relentlessly for the jobs they promise to give or it is philanthropists who sit there patronisingly art and developing culture
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627235935331700?thread_ts=1627235935.331700&cid=C5131HKFX
https://t.me/CSW_Slack/2769
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CSW - Slack Channel
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627235935331700?thread_ts=1627235935.331700&cid=C5131HKFX
https://t.me/CSW_Slack/2769
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627235935331700?thread_ts=1627235935.331700&cid=C5131HKFX
https://t.me/CSW_Slack/2769
We are in a world of technology where the cost of accessing education and being able to become part of the global economy is diminishing exponentially.
Because of this, once we have a true micro payment system and the ability to integrate people globally and pay them instantly the entire nature of how people earn money will change
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627239589345200?thread_ts=1627239589.345200&cid=C5131HKFX
https://t.me/CSW_Slack/2771
Because of this, once we have a true micro payment system and the ability to integrate people globally and pay them instantly the entire nature of how people earn money will change
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627239589345200?thread_ts=1627239589.345200&cid=C5131HKFX
https://t.me/CSW_Slack/2771
Telegram
CSW - Slack Channel
CSW
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627239589345200?thread_ts=1627239589.345200&cid=C5131HKFX
https://t.me/CSW_Slack/2771
Jul 25, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627239589345200?thread_ts=1627239589.345200&cid=C5131HKFX
https://t.me/CSW_Slack/2771
The greatest threat to the environment is not related to climate change. The greatest threat is human induced and it is not what people consider.
The most pressing threat that we can experience and tthat will cause the majority of problems in the future is related to economics andd growth and development and it is not due to limiting these but aas we arenot growing fast enough as we try and slow down the economy.
The best way to ensure that conservation is an issue as the have wealthier populations
As the slowdowns occur within the West and leave people in poverty not only in Western countries but also Third World countries will find more and more problems
Not because of carbon but because of the lack of available capital
It is not population that is our problem, population iss the solution if we have an educated population
this is key
An education, a liberal arts Western education is needed to ensure that people have a wide range of knowledge not only in science but in philosophy and history and related topics
Until that happens, the environment is fucked.
Deforestation is a REAL issue.
The desification of land is a problem
Overfishing is an issue (note, this links to the tradgedy of the commons).
changing the terminology does not change the underlying problem and this post-modern crap but it does and thatt suddenly all the problems are solved because people aren't offended is complete bullshit
CSW
Jul 27, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627378012475300?thread_ts=1627378012.475300&cid=C5131HKFX
https://t.me/CSW_Slack/2775
The most pressing threat that we can experience and tthat will cause the majority of problems in the future is related to economics andd growth and development and it is not due to limiting these but aas we arenot growing fast enough as we try and slow down the economy.
The best way to ensure that conservation is an issue as the have wealthier populations
As the slowdowns occur within the West and leave people in poverty not only in Western countries but also Third World countries will find more and more problems
Not because of carbon but because of the lack of available capital
It is not population that is our problem, population iss the solution if we have an educated population
this is key
An education, a liberal arts Western education is needed to ensure that people have a wide range of knowledge not only in science but in philosophy and history and related topics
Until that happens, the environment is fucked.
Deforestation is a REAL issue.
The desification of land is a problem
Overfishing is an issue (note, this links to the tradgedy of the commons).
changing the terminology does not change the underlying problem and this post-modern crap but it does and thatt suddenly all the problems are solved because people aren't offended is complete bullshit
CSW
Jul 27, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627378012475300?thread_ts=1627378012.475300&cid=C5131HKFX
https://t.me/CSW_Slack/2775
Financial innovation and for thatt matter the democratisation of finance when not used in the scammy fraudulent manner that most people use it has nothing to do with building a system for transferring millions of dollars.
CSW - Slack Channel:
The greatest threat to the environment is not related to climate change. The greatest threat is human induced and it is not what people consider.
The most pressing threat that we can experience and tthat will cause the majority of problems in the future is related to economics andd growth and development and it is not due to limiting these but aas we arenot growing fast enough as we try and slow down the economy.
The best way to ensure that conservation is an issue as the have wealthier populations
As the slowdowns occur within the West and leave people in poverty not only in Western countries but also Third World countries will find more and more problems
Not because of carbon but because of the lack of available capital
It is not population that is our problem, population iss the solution if we have an educated population
this is key
An education, a liberal arts Western education is needed to ensure that people have a wide range of knowledge not only in science but in philosophy and history and related topics
Until that happens, the environment is fucked.
Deforestation is a REAL issue.
The desification of land is a problem
Overfishing is an issue (note, this links to the tradgedy of the commons).
changing the terminology does not change the underlying problem and this post-modern crap but it does and thatt suddenly all the problems are solved because people aren't offended is complete bullshit
CSW
Jul 27, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627378012475300?thread_ts=1627378012.475300&cid=C5131HKFX
https://t.me/CSW_Slack/2775
The majority of people don't have millions of dollars
The majority of people own less than $10,000 after-tax every year.
Even taking only the West, most people don't make $100,000 a year after-tax
So, the reality is that a financial innovation for the majority of people is something that needs to provide cash based payment services at low rates.
It is a system that can transfer small amounts of money and by smaller men under ten US dollars globally without the fees cutting away at the value and destroying it
It is a system that will allow individuals to buy and sell and access and immediately use a payment system and then if it's volatile to exchange it immediately for the local currency.
So, someone working remotely in the US could transfer in seconds from an exchange any US money that they have with low fees to bitcoin which is then transferred in seconds to a person and say the Philippines who can then transfer this back into local currency if they need to all in under thirty minutes from end to end across both sides of thhe world.
That is what people care about because most of the people on earth are not billionaires.
That is what innovation is about
We already have the form of innovation that gives us flying cars. helicopters have been available for the rich for a very long time and these are effectively flying cars.
The innovation that we are talking about is not a financial innovation for the rich because the rich have all of this. The rich have charge cards. The rich have the ability to transfer money globally at low cost.
It is not innovation to find ways of allowing people to money-laundering or buy drugs engage in people smuuggling arms deals... That is just crime
The innovation is not allowing which companies and rich individuals to bypass taxes
Innovation is a system that records all of the activities of those with money and wealth so that they are in the system and pay their fair financial dues and hence don't need to be over taxed and leave the region
Innovation is a system that allows people earnning under two dollars a day to be able to send money back and forwards to their family
CSW - Slack Channel:
The greatest threat to the environment is not related to climate change. The greatest threat is human induced and it is not what people consider.
The most pressing threat that we can experience and tthat will cause the majority of problems in the future is related to economics andd growth and development and it is not due to limiting these but aas we arenot growing fast enough as we try and slow down the economy.
The best way to ensure that conservation is an issue as the have wealthier populations
As the slowdowns occur within the West and leave people in poverty not only in Western countries but also Third World countries will find more and more problems
Not because of carbon but because of the lack of available capital
It is not population that is our problem, population iss the solution if we have an educated population
this is key
An education, a liberal arts Western education is needed to ensure that people have a wide range of knowledge not only in science but in philosophy and history and related topics
Until that happens, the environment is fucked.
Deforestation is a REAL issue.
The desification of land is a problem
Overfishing is an issue (note, this links to the tradgedy of the commons).
changing the terminology does not change the underlying problem and this post-modern crap but it does and thatt suddenly all the problems are solved because people aren't offended is complete bullshit
CSW
Jul 27, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627378012475300?thread_ts=1627378012.475300&cid=C5131HKFX
https://t.me/CSW_Slack/2775
The majority of people don't have millions of dollars
The majority of people own less than $10,000 after-tax every year.
Even taking only the West, most people don't make $100,000 a year after-tax
So, the reality is that a financial innovation for the majority of people is something that needs to provide cash based payment services at low rates.
It is a system that can transfer small amounts of money and by smaller men under ten US dollars globally without the fees cutting away at the value and destroying it
It is a system that will allow individuals to buy and sell and access and immediately use a payment system and then if it's volatile to exchange it immediately for the local currency.
So, someone working remotely in the US could transfer in seconds from an exchange any US money that they have with low fees to bitcoin which is then transferred in seconds to a person and say the Philippines who can then transfer this back into local currency if they need to all in under thirty minutes from end to end across both sides of thhe world.
That is what people care about because most of the people on earth are not billionaires.
That is what innovation is about
We already have the form of innovation that gives us flying cars. helicopters have been available for the rich for a very long time and these are effectively flying cars.
The innovation that we are talking about is not a financial innovation for the rich because the rich have all of this. The rich have charge cards. The rich have the ability to transfer money globally at low cost.
It is not innovation to find ways of allowing people to money-laundering or buy drugs engage in people smuuggling arms deals... That is just crime
The innovation is not allowing which companies and rich individuals to bypass taxes
Innovation is a system that records all of the activities of those with money and wealth so that they are in the system and pay their fair financial dues and hence don't need to be over taxed and leave the region
Innovation is a system that allows people earnning under two dollars a day to be able to send money back and forwards to their family
Telegram
CSW - Slack Channel
CSW
Jul 27, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627378012475300?thread_ts=1627378012.475300&cid=C5131HKFX
https://t.me/CSW_Slack/2775
Jul 27, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627378012475300?thread_ts=1627378012.475300&cid=C5131HKFX
https://t.me/CSW_Slack/2775
Innovation is a financial system allows a woman who was working remotely to send money back as remittances directly to her family as she wills.
Not monthly to her husband who was not working and who drinks - but to her children to pay school fees and even directly to do that even though she is remote, to be able to remotely pay for a meal for her children, to be able to remotely item a pencil for their schoolwork and nothing more, to be able to pay for a food bill and to ensure that it is food and that you have seen what is being purchased.
These are all things that caannot be done right now and these are things that bitcoin can solve.
That is financial innovation
That is what is truly democratising finance.
Exchanges, bucket shops I should say and shonky gambling deals and ways of enabling people to buy drugs are not methods of democratising finance other than the scammy way that people say this
CSW
Jul 27, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627381421479500?thread_ts=1627381421.479500&cid=C5131HKFX
https://t.me/CSW_Slack/2777
Not monthly to her husband who was not working and who drinks - but to her children to pay school fees and even directly to do that even though she is remote, to be able to remotely pay for a meal for her children, to be able to remotely item a pencil for their schoolwork and nothing more, to be able to pay for a food bill and to ensure that it is food and that you have seen what is being purchased.
These are all things that caannot be done right now and these are things that bitcoin can solve.
That is financial innovation
That is what is truly democratising finance.
Exchanges, bucket shops I should say and shonky gambling deals and ways of enabling people to buy drugs are not methods of democratising finance other than the scammy way that people say this
CSW
Jul 27, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627381421479500?thread_ts=1627381421.479500&cid=C5131HKFX
https://t.me/CSW_Slack/2777
You will hear about decentralised autonomous organisations (DAO) in the Ethereum world all the time. Some individuals seek even to create what they argue is a form of DAO. MakerDao is one such example [1]. The token released by this organisation is run through what they consider to be decentralised and autonomous because the owners of a governance token manage it. The owners of this token can vote on changes to how the system runs.
I would like you to think about this for a moment.
[1] https://en.wikipedia.org/wiki/Dai_(cryptocurrency)
The argument is that firstly it is decentralised. If it is a decentralised system, then that means that it is widely distributed is meaningless. Facebook and Google both issued shares under an IPO or initial public offering. The shares trade publicly. The shares of Facebook and Google are the means of providing governance across these organisations. A small group of shareholders with a large number of shares meet and dictate terms, which is no different from how something like a DAO functions. The only difference here is that Facebook and Google have restrictions on their shares. The argument being posited by a DAO is that they should be allowed to operate without any KYC. That is no your customer requirement, and hence that they can breach AML requirements.
CSW
Jul 28, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627461217007000?thread_ts=1627461217.007000&cid=C5131HKFX
https://t.me/CSW_Slack/2780
I would like you to think about this for a moment.
[1] https://en.wikipedia.org/wiki/Dai_(cryptocurrency)
The argument is that firstly it is decentralised. If it is a decentralised system, then that means that it is widely distributed is meaningless. Facebook and Google both issued shares under an IPO or initial public offering. The shares trade publicly. The shares of Facebook and Google are the means of providing governance across these organisations. A small group of shareholders with a large number of shares meet and dictate terms, which is no different from how something like a DAO functions. The only difference here is that Facebook and Google have restrictions on their shares. The argument being posited by a DAO is that they should be allowed to operate without any KYC. That is no your customer requirement, and hence that they can breach AML requirements.
CSW
Jul 28, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1627461217007000?thread_ts=1627461217.007000&cid=C5131HKFX
https://t.me/CSW_Slack/2780