Regulated by Coding with Christian Kameir

Today on the DIVI Crypto Podcast we interview Christian Kameir of Sustany Capital. Central Bank Digital Currencies (CBDC) is one of the biggest news items in crypto. The idea is that the new technology will make cryptos obsolete for the majority of people, as it uses central banks to issue currency. It’s supposed to be safe, secure, stable, and provide reliability people expect from the banking industry. There is also the ideas to “bank the unbanked,” and allow for cross-border payments. Upon reading many of the white papers, it can be noted that these are highly focused on research. Many have noted that if payments can be instant via crypto, then why would there be a need for middlemen. The more middlemen involved, the more expensive the transactions become. Policies that they have then resulted in additional delays. Every time there are headlines about regulating block chain, stable coins, etc, it becomes mainly propaganda. They are regulated by their coding. Governments don’t regulate technology, but the behavior of people inside their jurisdictions. Instead of phrasing it like we’ll protect investors, but limit what citizens can do with this technology, and the responses to the regulations are different. Many CBDC papers have references to stable coins. However, in various hearings, there is little to no discussions upon how regulation entities don’t get to regulate technology. The question becomes: “Do you want to regulate the behavior of people to where they can’t partake in new technologies, and decide for themselves as to if they wish to participate?” Many dollar transactions are in digital form, as opposed to the moving of physical dollars. Dollars are in databases tied to the banking industry, with the licenses to do so. Cryptos aren’t tethered to a database, and sub-servant to financial licenses. Thus, the main difference is the bytes of data that are controlled by databases, or bytes controlled by universal computers that everyone has free access to, and can freely engage with at will. One of the problems with regulations becomes the loss of purchasing power: more middlemen equals more fees, so that the costs to buy are increased. Another issue becomes surveillance. Within our expertise, we’ve approached by NGOs for our expertise in supporting people who live under authoritarian regimes. They help dissidents being processed by their governments by transferring value and information. If technology can be used by such a government to persecute dissidents, not only should they not use it, but no one should use it. When this surveillance is built into digital value exchange systems, one is actively harming and endangering the people of the world. http://sustany.vc http://kameir.com