Thread by @jmmognetti

1/ What a Tragedy for 🇪🇺 🚨🚨 one more 🧵

The @Europarl_EN has therefore decided to turn #Europe into the next generation #Leviathan. Makes me wonder if Thomas Hobbes was a #scifi author more than a philosopher !

2/ Beyond the inevitable decrease in competitiveness for the European digital asset ecosystem - this decision is much more serious, calling into question the very freedom and privacy 🕵️‍♀️ of #European citizens if enacted in law.

3/ In this specific instance - #MEPs have collectively failed to understand two fundamental dimensions of blockchain:

4/ It is inherently #Panoptic and #Transparent.

Everything is visible on the blockchain to anyone. You only need to know the public address of a crypto wallet to know all the transactions linked to that wallet and to know the assets held by that wallet.

5/ This is why blockchain is a pseudonymous protocol, the public address of a wallet being a pseudonym in itself.

6/ Adding a layer of real identity to a panoptic system such as #Blockchain is tantamount to creating a system of mass surveillance of all by all (social scoring anyone?).

7/ An equivalent in the analogue world would be to de-anonymise and disclose everyone's bank accounts’ information, without priorly establishing that such interference is justified by an individual’s suspicious or criminal conduct.

8/ The @EUCouncil has always strived to protect the freedom (in its wider acceptation) of its citizens in a pure Jean Monet tradition.

9/ Notably by fighting against the generalised surveillance capitalism of #FAANG.

10/ By passing this law it is enacting the birth of a new kind of surveillance regime where we all potentially become the watchers and the watched.

11/ Who are the lobbying crypto leaders in Europe! @Ledger @MetaMask @MMInstitutional @ConsenSys @adan_asso

12/ We need the @EP_Economics to support innovation, transparency but also consumer protection.