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Sure, there’s anonymity in using different types of cryptocurrencies. You can run your crypto through mixers and tumblers but what if these were to go away. However, what if we’re looking at a nationalized crypto? …something like E-coin for those Mr. Robot fans.

This would be another police state’s dream. It would take out any anonymity from a transaction and could potentially mean that everything you spent on could be tracked and monitored.

What would happen in such a society? There’s likely be a black market that would have its own currency or there’d be a barter system. People would pay a high premium to convert their crypto into this black market version. However, they could get caught and then all transactions through the change agent could be seen on the blockchain and others could be tracked down.

There would be a convenience element to using such currency and it’s possible that stolen coins could be recovered easily. However, it would only take one tyrant to hold power for it to be used as a weapon of control.

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