Ask HN: Do you think a Global Transparent Banking system would be feasible?

1 pointsby znt15 lat temu1 comments

I'm talking about the "idealized" global banking system in which everyone can see every account's history.

It would definitely be trouble for companies hiding their (lack of) revenues, money launderers, tax evaders etc. but I wonder if it would cause any trouble for "legit" companies. (First thing comes to my mind is employees of the same company could see each others' salaries, so that may be a problem)

Would you be comfortable using a transparent banking system? Would you oppose it, why?

1 comments

bartonfink15 lat temu

I absolutely would oppose such a system, and if my choices were somehow limited to this or keeping bags of cash under the mattress I'd go for the cash every time. My objection is fairly simple - I value my privacy. I don't want my financial status visible to everybody, and I don't see any particular upside for me in a system that allows that.