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CMV: Gas fees are equivalent to taxes, and if the government adopted a transparent blockchain-based cryptocurrency DAO we could eliminate taxes and fund government services through a crypto standard.
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This, in my mind, is the ideal future for humanity and it’s adoption of crypto.

If the government had a transparent proof-of-stake mining system running, they could use the transaction fees as a “tax” to fund all government services.

They could even stake a certain amount of coin in different branches of the government, which would allocate block rewards proportionally to each branch depending on how much they have staked.

The people could also have some sort of UBI by allocating a portion of each block reward to each citizen.

I truly feel this is the long term future of crypto and what we need to be striving for.

Edit: I’m just trying to think of a good use for these CBDCs. Maybe the government comes out with their own coin that is proof of stake, they are the original large stakers, but anyone else can also stake and use the system too? And it could easily be a stable coin because the government could allow you to exchange for paper fiat at any point in time (which is still unfortunately sometimes needed)

Edit2: I’m realizing now that allowing anyone to stake into this system could allow foreign actors to maliciously stake large amounts. So maybe that shouldn’t be a thing?

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2 years ago