How the Reserve Bank’s plans for a digital rand will change your life (hopefully) for the better

The long-held dream of financial inclusion may be at hand for more than one billion Africans, explains Monica Singer, SA lead for blockchain company ConsenSys. This explains why the Sarb is moving ahead with its plans for a digital rand and, possibly, ‘digital wallets’ for all.

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Very exiting and will be a great advantage to people having to que for grants etc. not to mention getting ripped off by the banks.

However.

Who in his right mind will trust and believe a anc government like we have that is propped up by pillars like Treachery, Deceit, Plunder, Theft, Corruption etc. etc. can ever be trusted to “build” something that is incorruptible??? not to mention run it honestly??

Trust? Oh and when it comes to banking its going very well at Postbank, Landbank, DBSA.

Well Blockchain Technology could actually be used to foster and increase accoutibility, imagine if everyone could see all transactions that the government and it’s entities make. Blockchain tech makes this a reality, we can see all transactions that have ever been made on the Bitcoin Blockchain & countless other Blockchain & Distributed Ledgers, and it’s next to impossible to change or manipulate this data because of the size & security of the networks.

Imagine if each government department has an identifiable wallet where treasury deposited the budget for each department & we are able to see all transactions on the wallet. When money is spent they would have to attach documents justifying the expenditure. If money is being spent on tenders, all documentation created and submitted from the point the tender is advertised is accessible to the public without having to make formal requests. Members of the public would be able to see all bids, and the outcome of these processes, this alone could act as a deternt.

In Wallmart China stores people are already able to see just through scanning a QR code when & where their fish was caught, when & where it was processed and can view the health and safety record of that fish processing plant all thanks to Blockchain tech.

Like they say in the podcast every tech is a double edged sword, but we can make that technology works for us and improve our lives.

Citizens of SA: Please resist this at all costs. Cash is the last vestige of freedom against the corrupt ANC and their mafia-like debt-collectors: SARS. As soon as every transaction is trackable, they will squeeze every taxpayer into tax-slavery to fund their corrupt dealings.

“SARS. As soon as every transaction is trackable, they will squeeze every taxpayer into tax-slavery to fund their corrupt dealings”

The beauty of decentralised crypto will always be the vanguard of savers against central banks and thieving tax authorities

Remember to seek decentralised crypto
Remember to understand the crypto exchange platform and how they can relay back to SARS

@RSA_Liberty

Great comment, and so true…..

Cash will ALWAYS be King !

When last did you use cash?

It’s already digital.

More topping up of the trough.

@Unc

Then it’s about time we started supporting cash !!!

End of comments.

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