herseycokguzelolacakIf you had any doubts that Know-Your-Customer laws were evil, here is one very good reason: personal data of 1 BILLION people just leaked.
Sounds more like big corporations are the problem here
infinitesunriseWhy? Little corporations must comply with KYC law, too. They’re all required to gather personal data.
If a small business comply with KYC laws and gets breached, less than 1000 people get impacted. One would have to breach a million different companies to equal the scale of a single mega corporation.
Ok but how would that even work? When a company’s product/service is good, then people start recommending it to others and more and more people start using it. The only way to stop companies from growing big is to force them to stop accepting customers after a certain point.
No. You just tax the corporations based only on revenue and make the tax rate an exponential curve. Instantly too big to fail becomes too expensive to survive. Thus the businesses will naturally split into smaller companies.
Then the big companies will just operate under multiple names to commit tax evasion like they already do and pay off the politicians to let them.
So your reasoning is that it’s not enforced now, so it’ll never be enforced?
Okay, no point in bothering then, huh?
I’m saying that the big corporations have such a strong foothold that I personally don’t think we will ever be able to properly regulate them when they can pay off all of the politicians. I’m not trying to be a doomer, those are just my beliefs.