Balaji Srinivasan Warns That Big Tech Firms Like Apple, Microsoft, and Google May Help the Government Steal People’s Crypto
The ex-CTO of Coinbase is sounding the alarm that some of the biggest names in IT might betray the American people.
In a recent appearance on the Impact Theory podcast, Balaji Srinivasan said that IT companies like Apple, Microsoft, and Google might help G7 governments seize digital assets if such a decision were made.
In the future, nations may opt to take digital assets in an effort to recover from economic instability, Srinivasan, a loud Bitcoin (BTC) bull, claims. He claims that large tech companies could scan our gadgets to locate private keys and turn them over to the police if they were ever forced to do so.
The world’s fate rests on whether the Group of Seven and China can take digital assets, which would cause the G7 nations severe difficulties and make it more difficult for them to raise funds. If they succeed, it will be like a fork in the road of history. This entails converting all national currencies into CBDCs (central bank digital currencies).
Suppose they are unable to [seize assets]. In that case, we have entered a new historical epoch in which local communities may effectively use digital gold or cryptocurrency to crowdfund small parcels of land to create their own “startup societies” and, ultimately, “network states.”
And then you’d go back to a time more like the 1800s when you could buy a piece of land and start a town, or the acquisition of Alaska or Louisiana, or anything like that in the future… Will it be able to seize assets in the digital world? Is the actual fork in the road?
Srinivasan explains in detail why major technology companies may aid governments in seizing digital assets.
Since Apple, Google, and Microsoft have access to the underlying operating system, they pose the greatest threat. My biggest worry is that the government could theoretically force companies like Apple, Google, and Microsoft to scan your hard drive for private keys and then seize your digital assets since they have access to software upgrades and your Google Drive and Windows.