The 401Kids Savings Act would create savings accounts for newborns. While state child savings accounts have shown promise, inflation and taxes prompt concerns.
I like to think of economies (and nation-states) as loosely coupled monolithic legacy systems.
Due to poor developer practices and lack of architecture, parts of these systems have poorly written functions that hog 99% of the resources. You would not try to patch or update such a poorly designed system because there is no way to correct all the myriad built-up legacy back-doors, bugs, privilege escalation vulnerabilities, etc. The systems have been completely corrupted and cannot be recovered. We would like to avoid shutting off the hardware on which these systems run (the human race).
So we slowly drain away processing power to power up a new properly designed scalable system.
This new system is intentionally designed to avoid all pitfalls of the old system. It purposefully avoids attempts at privilege escalation, resource hogging, and doesn’t allow bad coding practices. Through scalable architecture, we implement a modular and resilient system that is decentralized and federated. Better yet, this new system is written in a language that is incompatible with the old system; they can only interface via APIs specifically designed to minimally interface with the old and unsafe system.
Of course, you’re right, it’s not independent or tamper-proof, but we can sure as shit try to make it that way!
We need to create a secondary indepentent tamper proof economy.
Economics, the dismal science, says there’s no such things as independence or tamper-proofing.
I like to think of economies (and nation-states) as loosely coupled monolithic legacy systems.
Due to poor developer practices and lack of architecture, parts of these systems have poorly written functions that hog 99% of the resources. You would not try to patch or update such a poorly designed system because there is no way to correct all the myriad built-up legacy back-doors, bugs, privilege escalation vulnerabilities, etc. The systems have been completely corrupted and cannot be recovered. We would like to avoid shutting off the hardware on which these systems run (the human race).
So we slowly drain away processing power to power up a new properly designed scalable system.
This new system is intentionally designed to avoid all pitfalls of the old system. It purposefully avoids attempts at privilege escalation, resource hogging, and doesn’t allow bad coding practices. Through scalable architecture, we implement a modular and resilient system that is decentralized and federated. Better yet, this new system is written in a language that is incompatible with the old system; they can only interface via APIs specifically designed to minimally interface with the old and unsafe system.
Of course, you’re right, it’s not independent or tamper-proof, but we can sure as shit try to make it that way!