Bitcoin-Funded Credit Cards and the Fight for Financial Privacy

KYC today has nothing to do with the legitimate need to know who you are. It is a system for harvesting biometric and personal data, which is then resold to governmental agencies for surveillance purposes. Avoid it at all costs.
Bitcoin-Funded Credit Cards and the Fight for Financial Privacy

While Bitcoin is already solving local payment problems in places like Kenya, and changes the economical landscape triggering clean capital formation and savings for the first time in history, another challenge remains for bitcoiners everywhere: interacting with the global payment infrastructure.

Sometimes you still need to use traditional networks — for example when buying airline tickets or paying international services that only accept credit card payments.

This is where a new generation of Bitcoin-funded cards becomes useful.

For certain international services we sometimes use a Bitcoin-funded credit card: https://www.freedomia.io/home

This is also a very young and small-scale project, focused on privacy and self-sovereignty.

The card can be funded with Bitcoin, is issued digitally, and can be used throughout the VISA network.

And most importantly: it is No-KYC.

The No-KYC issue is becoming extremely important and should concern everyone.

The reason is that the KYC process today has very little to do with the legitimate need to know the identity of the cardholder. It has increasingly become a system for harvesting biometric data, which is then resold to governmental agencies for surveillance purposes.

Ask yourself a simple question: Why does a credit card company need a scan of my face to issue a credit card if my valid ID already proves who I am?

The answer is obvious: large-scale biometric data harvesting for surveillance purposes.

So think very carefully before scanning your face for such services.

There is almost always a solution that preserves your privacy, and as far as credit cards are concerned, the https://www.freedomia.io/home No-KYC card is excellent.

Hakuna Matata with Bitcoin in Kenya.

Kwaheri.

FULL DISCLOSURE: I am an unknown and paying customer of Freedomia. I have received nothing in return for writing this article.


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