[poletopole]

We’ll witness the birth of what I call the “Shadow Economy” evolve from the reputation economy. Since companies can’t exist, they won’t. Instead workers will find work where they don’t pay income or sales taxes which could be a global federated crypto network. If you remove taxes from the equation and replace them with what might be next generation smart contracts that work like cash (offline) then really government will be the one out of a job. Credit card processors and banks are already anticipating this future with their recent crypto card standard. In the BLM riots my chase bank actually was burned to the ground. There definitely is a vacuum to be filled and I think most out of work just need a platform that works without trust.

[randomdude402]

Good luck convincing anybody that moving crypto through their bank is going to enable them to avoid taxes.

Their has always been a shadow economy, and it runs on cash.

[poletopole]

I wasn’t implying anything nefarious by the term “shadow”, only that it stands in the shadow of the reputation economy. I also meant that two outcomes might exist: 1. Something like ether or 2. The banking system would corner the market.