Privacy as an investment case for Monero

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If you have nothing to hide, you don’t need privacy, right ?

Just imagine a world where your family, your friends, your boss, your neighbor, your landlord, the government and the scammer around the corner are always aware of your financial status and all transactions you are conducting … Wouldn’t this be great to have all this transparency ?

We see you receive money from an OnlyFans account … you are fired as a caretaker.

Last summer you spend money on alcohol … sorry, your health insurance can’t cover the treatment.

We see you have a lot of dept … we prefer a more stable renter for the apartment.

You donated to the republicans … we can’t hire you in our progressive business.

The possibilities are endless.

… Sounds awesome, but this is only on a personal level. How is big tech going to utilize this ?

Big internet cooperation’s have nearly completely abandoned principles like data protection and privacy in favor of maximization of profits. Today, practically everything we do on the internet is logged, automatically analyzed and evaluated by all kinds of different actors and providers around the globe.

This way, it is possible to generate large scale profiles of the society and its streams, but also to generate individual profiles of nearly every person and their surrounding social network.

These profiles then get monetized, for example by selling them for the purpose of personalized advertising. But wait, there is more !

Instead of manipulating our consumer behavior, this can also be used to manipulate other things, like public opinion and even our voting behavior.

… Wait, what ?!

The most famous example of this is probably the scandal regarding Cambridge Analytica, in which such data was sold and successfully used to identify undecided voters on the Brexit matter and manipulate them to the leave side by massively targeting them with certain (false) information. Other cases occurred during the last U.S. elections and on several other occasions too !

And this is just the tip of the iceberg of what has already become a reality today. Just imagine what these awesome systems will be capable of, once all your financial information is included. Or in other words:

With the constantly increasing interconnection and digitalization of our lives, it is to expect that privacy will become an increasingly more scarce and precious good in the future.

… I wish I could invest in privacy …

www.getmonero.org

submitted by /u/Ornery_Maintenance_8
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