Coinbase’s former chief technology officer warns that some of the world’s most prominent tech companies could one day betray the American people.
In a new interview on the Impact Theory podcast, Balaji Srinivasan says that if G7 countries decide to allow confiscation of digital assets, tech giants like Apple, Microsoft and Google could lend them a hand.
According to Srinivasan, an outspoken Bitcoin (BTC) bull, countries could decide to seize digital assets in the future in an attempt to recover from the economic turmoil. He says tech giants can easily scan our devices to find private keys and hand them over to authorities if they’re ever ordered to do so.
“G7 countries are going to have a real problem, and they will have a harder time getting money and then much of the world will depend on whether or not the G7 countries and China can seize digital assets. If they can, that’s like one branching point in history. It means you have total states [into] CBDCs (central bank digital currency) and so on and so forth.
If they can’t [seize assets]then you have another branching point in history where it means communities can now basically have digital gold or cryptocurrency and crowdfund bits of territory where they can have their own startup societies and eventually what I call “network states.”
And then you would go back to the future of something more like the 1800s where you could get a piece of land and you could build a city or something like that or even the purchase of Alaska, the purchase of Louisiana, things like that. .. The real branching point is fundamental, will asset seizure be possible in the digital world?
Srinivasan explains why he believes big tech companies can help governments seize digital assets.
“The biggest risk factor for that is actually Apple, Google and Microsoft because they have access to the operating system. That’s actually what I’m most concerned about: it’s the fact that Apple has software updates and Google can get into your Google Drive and Microsoft has Windows and if the state orders it, they can theoretically access your hard drive scan for private data. keys and then pull your digital assets.”
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