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this post was submitted on 03 Aug 2025
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Postal banking is a thing in some places.
I'm not sure I want the government running those services. Like a basic one, sure, but for handling credit cards and general banking services? Nah, I don't want the Trump administration having direct access to my purchases.
I don't see any reason to trust the credit industry more than the government, though.
The main reason is that the credit industry isn't in the business of running an intelligence service or part of law enforcement. That said, what they are connected to is almost the same as an intelligence service, that being the advertising industry, and there's literally nothing stopping them from selling or even being forced to give their data to law enforcement. The only reason it doesn't happen more I'd say is just the optics of it.
Ultimately what's needed is a digital payment system that's at least somewhat anonymous, but that's an incredibly hard nut to crack. Bitcoin tried it, but largely failed to do so (and immediately got corrupted by speculators that wanted to use it as a forex instead of currency). A couple of the other crypto currencies that have come out since then have claimed to be better but I'm still incredibly skeptical that there's any real anonymity there.
Someone above linked GNU Taler which seems to go in the right direction, but I'm not sure how mature it is yet. It specifically claims to not be a new currency, so hopefully the speculation part won't be an issue.
Yes, that was me. Unfortunately much like GNU Hurd, Taler is less of a project than it is a thought experiment. It lacks a sufficient number of people pushing it to become a viable project. It exists, but as far as I'm aware it's never been used seriously in the real world outside of some proof of concept type deployments at a university. Without a champion, ideally a major business or significant public figure, it's likely to continue being far more conceptual than practical.
I guess the closest we might be getting anytime soon then is the digital euro. Which is supposed to end its preparation phase soon, and, in spite of being government issued, promises to be private (not like ccs are remotely private anyway, so nothing lost at least).
As always there's some risk of it getting changed to allow tracking later down the line, but if done correctly it could still be a big improvement over the current situation for EU citizens. If it's successful, maybe other governments will look into similar programs.
I feel like ideally the digital euro project would work with GNU Taler since the goals seem to align, with the main difference being that the digital euro would be government backed. I don't have high hopes since governments always fuck this up somehow, but I guess in the best timeline the EU is that champion (since using the same technology even with a different currency would give some trust into the concept, so it could help with finding early adopters - likely outside of the EU since I'd imagine in that scenario the digital euro would just be preferred here)
Yes, in a perfect world the EU would require banks to support Taler for transactions in euros and presumably also provide the necessary infrastructure for that support. Doing so would allow you to seamlessly (and transparently) convert back and forth between Taler and Euro as needs require just like is done with cheques and credit cards.
It would honestly be the smartest play by the EU since they would avoid reinventing the wheel. That said I doubt it would happen because even at the best of times government of any type rarely makes the best decision. If you're lucky they still make a good decision, just not the best one.