Quote from: justusranvier on January 14, 2014, 01:52:26 AM

Quote from: genjix on January 14, 2014, 01:45:47 AM

http://www.wired.co.uk/news/archive/2013-09/13/digital-economy-task-force
"Bitcoin, Tor and Gates Foundation join task force to prevent child exploitation"

I feel like you all actually believe what you're saying which is sad beyond belief.

You didn't quote the most interesting parts.

Quote

The Task Force, which launched in August, is not solely focused on child exploitation. It has developed working groups that aim to combat a range of illicit activities, to safeguard human rights and to encourage inter-agency coordination and law enforcement. It was launched off the back of a report by Thomson Reuters Fraud Prevention and Investigation unit about digital currency laundering.

The report detailed how criminal and terrorist organisations have turned to digital currency to reap profits from drug trafficking, prostitution and the dissemination of child abuse images.

Steve Rubley, managing director, Government Segment for the Legal business of Thomson Reuters points out that the digital economy provides a plethora of new opportunities and is central to how business is conducted but there are also "dark corners" where drug cartels can easily launder money and human sex traffickers operate in near obscurity.

The Task Force will include the Bitcoin Foundation, The Tor Project, Trend Micro, The Bill and Melinda Gates Foundation, the Cato Institute, The Brookings Institute, the US Agency for International Development and Vital Voices. The group will educate the public and work collaboratively across stakeholder groups including government agencies, law enforcement, academia, NGOs and industry.

A statement released by Thomson Reuters and ICMEC said: "The approach will be a balanced view of both the advantages and disadvantages surrounding the digital economy -- a place where people can enjoy the convenience of digital currencies, but where there are controls in place to regulate them like any other form of money."

This may be the most disturbing thing I've read all year. Especially these:

"It has developed working groups that aim to combat a range of illicit activities, to safeguard human rights and to encourage inter-agency coordination and law enforcement."

"The approach will be a balanced view of both the advantages and disadvantages surrounding the digital economy -- a place where people can enjoy the convenience of digital currencies, but where there are controls in place to regulate them like any other form of money."

Where can I read more about this on the Bitcoin Foundation website, are there any further details on the plans for this? Please post URLs anyone, if there's anything relevant. (If not, that's even scarier.)

Gavin, in case you are listening, here's my two cents for your CFR meeting: The rulers in high places are aware of Bitcoin by this point at its potential, and they recognize that the awful service provided by banks is leading inevitably to a shake-up that's going to involve technological improvements based on digital currencies. They accept this. Therefore their next step is going to be a slow noose-tightening. They will act incrementally.

Their number-one concern will be to protect their control over the unit-of-account. Their secondary concern will be protecting KYC/AML. I suggest you take advantage of this and get them on board with colored coins. You can point out to them that dollar-coin, euro-coin, rupee-coin, etc will enable them to protect their control over the unit of account, while simultaneously giving users the other benefits of cryptocurrency technology. Also point out to them that they will continue to have KYC/AML control if they do this, since colored coin issuers will have to by KYC/AML compliant when dealing with bank wires in/out.

I think offering them a way to control the unit-of-account and preserve KYC/AML will be tempting enough that they will see this as an acceptable scenario, which will hopefully make it possible to drop bank opposition to Bitcoin businesses and especially bank opposition to colored coin issuers.

I have reasons for saying this. In fact it will only help us if this happens, by eliminating problems with Bitcoin businesses and colored coin issuers being able to maintain bank accounts. We can obtain this by offering the illusion of control, but for them it will only be a pyrrhic victory. (They will not be able to believe that though, and will be seduced.) The truth is, the cryptocurrency epoch has come. With the above pieces in place, Lex Cryptographia will be a foregone conclusion. (It is anyway, but this will only make it easier.)