Cryptojackers Demonstrating how Cryptocurrency Mining will Revolutionize Tax Collection
Criminals are inadvertently demonstrating how cryptocurrency mining can be used for tax collection.
The biggest users of cryptojacking in the future will be governments because it can be a cheap and efficient means of taxation.
Instead of spending billions on tax collectors, accountants, auditors, etc., all a government would have to do is require every company operating; or person that owns a computer, within its borders to install official cryptojacking software. The software would mine Ethereum (ETH), an ER20 token, or the government’s official cryptocurrency.
Companies and individuals would go along because they would not have to pay taxes. The proceeds of official cryptocurrency mining can be deposited in a sovereign wealth fund to finance basic income, or pensions.