In this video, I talk with author and economic analyst John Sneisen about India's cashless system once again. However, this time around, the Aadhar system which uses everything from retina scans to chip in order to scan payments rather than use cash has been breached!
According to several sources including Tech Crunch, Buzzfeed and Wikileaks, the Aadhaar database which holds information on nearly everyone in the second most populated country in the world can be accessible for just $10 USD.
An anonymous person simply gained the ability to get into the extensive database through exchanging 6000 Rupees (or $95 USD) over the WhatsApp anonymous application.
Now, on top of this it appears that the CIA have gained access to Aadhar which is hardly surprising, as the issue is brought up in India's parliament.
This simply goes to show what we at WAM have been warning about for so long. First the dollar crashes and out of desperation the central banking system pulls us all under the global centrally planned cashless system, first testing it out in highly populated countries. If your money's in the bank, it's not yours, it's the bank's and if your money's ALWAYS going through the banks via digital transactions, it's never your money, it's always the bank's and you are in perfect servitude to the banking system and government!
The government can therefor spy on your every action and ensure that you are paying your "fair share" of extortion.
They need to make sure they squeeze every penny out of you.
Then they implement the long spoken of bail-in regimes which means your (their) money can simply be taken out of your account and with new attempts to abolish the vast sum of your depositor's insurance, there will be no getting the money back. It's not like you can do a run on the bank in a cashless system.
And then they have you exactly where they've wanted you all along. In vast amounts of debt. Extorted. Watched with every transaction. Tracked. How's that for a bad end to a bad story?
This is why individuals need to stand up to this. It comes under the guise of "helping." Just like it was seen as Prime Minister Modi lending a helping hand to the impoverished by giving them free bank accounts only 100 days after he had entered office. It was an agenda all along and it's leading to this technocratic end.
So one must be self sustainable. Stand up for their beliefs. Be responsible for their finances. Diversify. Gold, silver, decentralized cashless cryptocurrencies which differs GREATLY from centrally planned legal tender cashless.
Of course this is our opinion and is not meant as financial advice. One must do their own due dilligence. That's part of the responsibility factor that's so important.
It's better to be over prepared than under prepared.
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Centralized data/money systems are going away! Even the DHS in the USA was hacked recently and had all their employee data leaked. LOL The so-called Department of Homeland Security couldn't even secure their own data. Bwahahha!
Additionally, fuck Modi. That asshole caused more financial misery for Indians than any other leader in India's turbulent past.
This is why decentralized cryptos are so important. If we don't take control of our money they may use it to enslave humanity even more.
Unique Identification Authority of India (UIDAI) on Wednesday unveiled a fresh layer of security — a 'Virtual ID' to prevent your Aadhaar from being shared — as it sought to address privacy and security concerns.
It also added a safety feature to ensure only need-based sharing of information, by way of a limited KYC, even as it asserted that the system and data were safe.
UIDAI's Virtual ID, which will be issued from March, will allow over 119 crore Aadhaar holders to generate a 16-digit temporary number that can be shared with a bank, insurance company or telecom service provider instead of the 12-digit Aadhaar number. All service providers will have to upgrade their systems to mandatorily allow for the new tool from June. You can opt to use the Virtual ID as many times as you want, or keep generating a new one every time you have to share your unique ID.
"It will not be possible to locate an individual's Aadhaar number by using the Virtual ID," an official said.
The other safety feature introduced relates to limited sharing of information, again aimed at preventing possible misuse and data theft. Instead of the current system where the five details — name, date of birth, photo, address and mobile number — are shared with the service provider at the time of authentication, the new feature will allow only needbased sharing of data. For instance, if you want a new mobile connection, the telco will get only your name, photo and address. For a passport, though, all data may be shared.
Interesting idea for the infosys, TCS, Wipro, HCL to bag more contracts.
The direct beneficiries will be
What an idea sirji!
This is absolutely crazy but I think it was clear all along that the database will be compromised at some point. Since data is the new oil this is a goldmine. The metapher is not the best but you'l get the point.
I'm scared of how many warmly welcome a physically cashless society aka controlled electrical money. How can they not see how bad this can/will end?
I think people just don't think for themself anymore or they think that the economy is just way to important to never go against what supposedly damages economy.
An example in switzerland. The whole country got asked if we all like to have a mandatory base-salary. What do you think we dicided in the end?
We got asked if it would be fair that everybody gets 6weeks of vacation instead of the 4 mandatory weeks. Guess how it turned out.
We tried that in every company the best salary must not be higher than 12 times (!!) of the smallest one. You guessed right. We let it stay the same with ratios of 270:1 or even worse..
Because it could potentially hurt our economy.
Anyway, thanks a lot for this atricle. And sorry for a slightly offtopic comment.
Cheers!
Since there is no data protection or privacy laws, this is not really valid point! - yea, surprise.
The word cashless should be taken with a pinch of salt when you talk about India. In 2016, we just banned all the currency notes. So, we had cash means, printed legal tender, but they were useless.
Now I am aware that what you meant is digital payments - its going down. Ref: https://thewire.in/195161/modis-cashless-economy-still-distant-goal/
Oh, India's GDP is on , sadly, a downward spiral :-( .... with the ultra stable reserves, an excellent RBI with stalwarts like Raghuram Rajan ( https://en.wikipedia.org/wiki/Raghuram_Rajan ), its in soup.
Yeah no surprise but I think it is crucial information which should be protectet. Though I'm against it overall. So no need to protect when we don't collect in the first place:)
Sorry I completely misspelled that one. I meant lot of people would warmly accept to shift to a total electrical payment system just because it would be "fun"
Thanks for your response.
Yes once it has started it will spiral down to even more outrageous concepts and laws.
I really hope they can reverse it somehow in india. We can't let that slip through otherwise it will be the blueprint for other countries.
Even in germany it has already begun. They banned the biggest paperbill because of the blackmarket.
I was not aware!
Yes - also collection is not legal or the government doesn't have the authority to collect as per the current laws of the country. So the previous government created an independent authority and made them do the illegal thing. The current government, which originally opposed is supporting it. So right now the Aaadhar aka UID has become legal as of 2017, but the privacy and data protection is not available. Its a paradox and the stupidest stupid thing ever!
So did you vote for or against the pay and higher vacation? I’m thinking because it’s Switzerland you would want more socialism. Isn’t Switzerland cashless anyway?
I voted for the mandator salary. It was not even a very good concept to behin with, but then they would have to come up with an acceptable solution. It was more of an idea rather than a very well thought through concept but anyway. And I voted for more vacation though I already had 5 weeks at that point. Sorry I misspelled one point completely (it was very late) I meant of course a paper/coinless society would be bad.
nice exp
Thanks. There are even more of these examples where we voted just because the economy said us so.
Ex: we have a mandatory health insurance which is not really a bad thing. I don't like though that there are like 50 different companeis which all do competition, PR and commercials. If there just would be one with the mandatory part that would lower the costs dramatically since they all have to offer the same deal anyways and can not not accept anyone.
I don't care if the additional insurace is split up in hundrets of companies. There they can do what the hell they want.
But if we are forced to healthinsure us, then I don't need any competition. The prices are already high and I change my insurance every year because this time that insurance is better and in the next year another one is the best. Just supid in my opinion.
thats go fine.
world is already stepped in the crypto currency.
@qami
Damn that’s crazy, thanks for the heads up
Nice post, you have get 100 % upvote from @steemupvotebot, follow us for upvotes, updates and technology related news.
To, @joshsigurdson
Everyone ONBOARD the CRYPTO TRAIN!
TotALLy!
you know nothing about us - we even banned real notes that we printed ourselves! you are talking about crypto ? ;-)
https://hbr.org/2017/11/one-year-after-india-killed-off-cash-heres-what-other-countries-should-learn-from-it
Present govt in India is all talk and less action. The people in power have sold their souls for getting elected and coming to power. They dont care about public. Same party was opposer to many of the services of adhaar when in opposition. And when it came to power it has mandates adhaar for everything.. they alhave mandated for bank accounts as well. They are trying to create a system where they will control every aspect of citizen. This govt corruption is not a direct one.. Its an organised way of corruption.
Adhaar breach is outcome of govt policies. It shows how careless the govt has been in india frm last 4 years..
That is the funniest, but obvious thing - considering the full and total control goverments can get with this level of surveillance
This govt working for the prosperity of rich. There were many loopholes in the adhaar system. Sometimes the biometric scanner doesnt recognise the fingerprints of citizen. When this happens during public distribution of ration to poor the person whose finger prints does not match with system does not get the ration... This incident was real in was reported kn media.. govt did nt do anything. This govt is against the poor. They treat poor ppl and common man as useless. Such things happens when govt has absolute majority. The whole power is centralised. How will u oppose?
This got me thinking about how in colonial America hemp was a currency, people could grow money, perhaps that could be an alternative currency once again. Indians could trade their cash for hash.
Things are going to get uglier before they get better. The next crash is going to make the GFC look like being short on some lunch money. The fiat system has to crash for them to transition to a cashless society. Predicting when they will do it is the tricky part.
Good post, thank you!
The eye of government on every point its good for the security and i would like to say its considerable work ,.@joshsigurdson
Crypto Currencies are currently the only way of avoiding government overreach into the privacy of their citizens.
Just watched this on YouTube. It's terrible what's happened in India. The death toll as a result has been vastly underreported.
Waoh useful. Keep it up. Thank you for this helpful information @joshsigurdson Thank you once again
Your video is hot news give us, india's cashless database. thank you very much for video sharing, all the best
Thanks for the info Josh and John. Upvoted and Resteemed!
It sounds like government is plotting something again.
India is just going crazy, what the hell is this with your people, i simply sont understand. Crypto currency is the future as it is safe and can be kept private.
This is highly informational. Amazing post
I thought that I had read a few months ago that they were having issues with breaches. It's not surprising that it would continue. In this day and age you have to assume that any system can be breached. So why would anyone want all their personal information in one place where it can be easily stolen by people with the right tools and enough determination?
ABSOLUTELY DO NOT TRUST A CASHLESS SYSTEM. ESPECIALLY IN THE HANDS OF ANY INSTITUTION (GOVERNMENT, BANK OR CORPORATION)
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Brilliant explanation! Thank you. Updated, resteamed and shared on FB.
That's the only reason Crypto is the need of future,because Crypto is decentralize and safe among all these systems.
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nice exp
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Most people wear Superman pyjamas for bed, Chuck Norris however wears Jon Sneison pyjamas
The funniest part of all this is that, the breach, or sharing biometric data of anyone in India is perfectly LEGAL !
India doesn't have any data protection laws and thus its not an issue as per the law to share, ditch or give away anyone's biometric information. In the first place the last goverment (who originally started this massive scam) and current goverment near illegally collected the data of the people.
So the real issue is, the quazy government body got legal status only recently and they silently collected data of people.
Often the data collection was misguided and misinformed as another legal project by the name NPR (national population registry).
Also this unique ID, popularly known as Aadhar can be taken by anyone living in India irrespective of their citizenship. It gets even funnier and vague as even dogs have Aadhar!
See the news report: https://www.ndtv.com/offbeat/this-dog-in-madhya-pradesh-has-an-aadhar-card-owner-is-now-arrested-777810
The program is imposed against laws of the country and against the supreme courts ruling by various means and threats.
They are now threatening to lock down bank accounts, mobile phones etc.
The misinformation was so bad that, me a computer science engineer with reasonable knowledge couldn't prevent my parents from falling into the trap. My Dog, me, my wife and few others are very few who is not having this idiotic thing now. I am not sure how long we will be able to fight, but we will till the last moment.
Btw, if you are interested (sorry for injecting this here) you can also read about some of the possible use cases that I came up with - in response to posts like this one : https://steemit.com/freedom/@bobinson/a-billion-opportunities-with-uid-project-of-india
PS: Generally, this type of genuine posts are supposed to be under attack by the digital armies of the political parties.
another great article, your hard work on getting this info out is appreciated
Great Post and Info shared, deserves an Upvote and Resteem. Gold, Silver & Decentralised Crypto is the way to go.
it is all about decentralization! keep the banks out of crypto-currencies
Nice post!
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