I live in US and we have had FDIC as long as I remember. I'm not even sure there is such a thing as "uninsured account" in US, or if there are, why would anyone use such a bank.
It's a simple equation to grok: if utility X is only available in a digitized form on a controlled and centralized platform, then that utility is subject to central controls. And as we see, these control mechanisms will inevitably require AI moderation to scale.
You think things are bad when Google arbitrarily kicks you off gmail? Wait until it happens to your bank account. Who are you gonna call? Where are you going to go and speak out about it?
I guess it all depends on how it's implemented and what the censorship policy is. If it's implemented with a "everyone, including the homeless, felons and racists gets access" mindset then there isn't much concern. If it's implemented with a "having access is a privilege not a right" mindset, it's different.
USPS has to service everyone, even those where they don't make any money with. If this FDIC thing is more like the USPS, your concerns would be unfounded.
USPS only services people who have a residence or pay a fee to have a box. Homeless people require a special approval to receive mail. So USPS does not have to service everyone, but at least they can’t ban people based on mail content.
https://www.fdic.gov/
It's a simple equation to grok: if utility X is only available in a digitized form on a controlled and centralized platform, then that utility is subject to central controls. And as we see, these control mechanisms will inevitably require AI moderation to scale.
You think things are bad when Google arbitrarily kicks you off gmail? Wait until it happens to your bank account. Who are you gonna call? Where are you going to go and speak out about it?