PRI. Privacy and Private Dispersal
... How can we balance the public ledger (PLG) with a citizens (CTZ) right to privacy and also bar a legal entity (LGE) from the same right?
Individuals sometimes need to make financial transactions that are private and therefore will not want the destination of the payment to be registered on the public ledger.
The ability to pay into a 'privacy' account and have the output appear in the proper receiving account should be developed.
Prefs will still be issued but they will 'pass through' the privacy account and be distributed to participants in that account. The account should be big enough so that individual payments cannot be 'found out' via inspection. Payments may split into many increments and be distributed over time. The receiver will be provided with a promise of payment.
It may be possible to tax this right to privacy if it becomes a method of activity detrimental to the general welfare.
Legal Entities should be able to receive payments from these pools, but not pay money out to them.
Citizens can send funds privately, what about receiving them? If the funds are received from another citizen they should be allowed to be private, but payments coming from legal entities should always be public.
One issue that will arise is that a citizen receiving many payments via private pools may become inherently suspect as to their activity.
Just because these items are private does not mean that they are not subject to rule of law. If evidence is provided that someone participated in illegal activities, they are still subject to the law. Regardless, the flow of the transaction should still be 'undecodeable.' The evidence will have to come from outside the money system.
Implement a privacy pool that allows citizens to make payments and receive payment(but only from other citizens when receiving) that are 'anonymous.'