RE: MASSIVE Breach Of India's Cashless Database! - Government Tracks Every Transaction
This is absolutely crazy but I think it was clear all along that the database will be compromised at some point. Since data is the new oil this is a goldmine. The metapher is not the best but you'l get the point.
I'm scared of how many warmly welcome a physically cashless society aka controlled electrical money. How can they not see how bad this can/will end?
I think people just don't think for themself anymore or they think that the economy is just way to important to never go against what supposedly damages economy.
An example in switzerland. The whole country got asked if we all like to have a mandatory base-salary. What do you think we dicided in the end?
We got asked if it would be fair that everybody gets 6weeks of vacation instead of the 4 mandatory weeks. Guess how it turned out.
We tried that in every company the best salary must not be higher than 12 times (!!) of the smallest one. You guessed right. We let it stay the same with ratios of 270:1 or even worse..
Because it could potentially hurt our economy.
Anyway, thanks a lot for this atricle. And sorry for a slightly offtopic comment.
Cheers!
Since there is no data protection or privacy laws, this is not really valid point! - yea, surprise.
The word cashless should be taken with a pinch of salt when you talk about India. In 2016, we just banned all the currency notes. So, we had cash means, printed legal tender, but they were useless.
Now I am aware that what you meant is digital payments - its going down. Ref: https://thewire.in/195161/modis-cashless-economy-still-distant-goal/
Oh, India's GDP is on , sadly, a downward spiral :-( .... with the ultra stable reserves, an excellent RBI with stalwarts like Raghuram Rajan ( https://en.wikipedia.org/wiki/Raghuram_Rajan ), its in soup.
Yeah no surprise but I think it is crucial information which should be protectet. Though I'm against it overall. So no need to protect when we don't collect in the first place:)
Sorry I completely misspelled that one. I meant lot of people would warmly accept to shift to a total electrical payment system just because it would be "fun"
Thanks for your response.
Yes once it has started it will spiral down to even more outrageous concepts and laws.
I really hope they can reverse it somehow in india. We can't let that slip through otherwise it will be the blueprint for other countries.
Even in germany it has already begun. They banned the biggest paperbill because of the blackmarket.
I was not aware!
Yes - also collection is not legal or the government doesn't have the authority to collect as per the current laws of the country. So the previous government created an independent authority and made them do the illegal thing. The current government, which originally opposed is supporting it. So right now the Aaadhar aka UID has become legal as of 2017, but the privacy and data protection is not available. Its a paradox and the stupidest stupid thing ever!
So did you vote for or against the pay and higher vacation? I’m thinking because it’s Switzerland you would want more socialism. Isn’t Switzerland cashless anyway?
I voted for the mandator salary. It was not even a very good concept to behin with, but then they would have to come up with an acceptable solution. It was more of an idea rather than a very well thought through concept but anyway. And I voted for more vacation though I already had 5 weeks at that point. Sorry I misspelled one point completely (it was very late) I meant of course a paper/coinless society would be bad.
nice exp
Thanks. There are even more of these examples where we voted just because the economy said us so.
Ex: we have a mandatory health insurance which is not really a bad thing. I don't like though that there are like 50 different companeis which all do competition, PR and commercials. If there just would be one with the mandatory part that would lower the costs dramatically since they all have to offer the same deal anyways and can not not accept anyone.
I don't care if the additional insurace is split up in hundrets of companies. There they can do what the hell they want.
But if we are forced to healthinsure us, then I don't need any competition. The prices are already high and I change my insurance every year because this time that insurance is better and in the next year another one is the best. Just supid in my opinion.
thats go fine.
world is already stepped in the crypto currency.
@qami