Poll results (october 2024)
๐ผ As financial systems evolve, a choice emerges: Should we embrace a digital currency where every transaction is fully traceable on the blockchain, ensuring transparency? Or should we stick with todayโs regulated system, which comes with significant anti-money laundering (AML) burdens and traceability challenges?
Digital Currency: A Divided Opinion
I was surprised to see this poll split right down the middle, with 50% favouring a traceable digital currency on the blockchain and 50% preferring todayโs more private, regulated system. On the one hand, I understand why people might be concerned about digital currencies. The idea of every transaction being permanently traceable on the blockchain raises serious privacy questions ๐ค. People may fear over-surveillance or losing control over their financial data, which is a valid concern.
However, from my perspective, a fully transparent system could be a significant advantage, especially when working with wealthy clients. Many clients canโt explain every penny in their accounts, and if weโre honest with ourselves, can any of us perfectly trace every cent in ours? ๐ธ The digital transparency such a system offers might make things more straightforward for everyone involved.
If I had run this same poll five years ago, I doubt the results would have been the same. Back then, most people wouldnโt have seen the benefits of digital currencies. But now, as the world shifts toward digital solutions, the transparency offered by these technologies is becoming more appealing. Itโs fascinating to see how quickly opinions are evolving ๐๐.
Source: LinkedIn Poll
