Another confused person
My limited understanding of Bitcoin and the like is that there is a permanent record of every transaction which can be read by all but not changed, just added to.
Anonymity is preserved by the user being a crypto signature with no personal details. However this relies on all transactions being on line. As far as I know you don't walk into the bank with a Bitcoin card, or pay in a shop with a Bitcoin card because then you create a physical link in the real world between yourself and the wallet.
Once you have tied the real person to the crypto id then you can look back at history and know more about the real person.
I assume that this Benefitcoin would be used to pay rent, utility bills and other outgoings tied to a real person and a real address.
The information in the blockchain could be encrypted, but what use is it if you can't decrypt it to authorise payment or administer it as the government issuer?
The only reason for this that I can see is to control what the money is spent on. This does not tie in with complete confidentiality. It does give the government enormous control over claimants and the ability to impose policy at whim. It does not seem to provide complete anonymity for the claimant.
TL;DR Police State
Biting the hand that feeds IT
