Insurance - or, at least, state-mandated insurance, is also a great way for the government to regulate private industry. The government just insists that citizens obtain insurance for risky activities that may affect others. Valid insurance, of course, where the government itself defines "valid", to mean "Complies with regulatory dictates".
Potentially, it's a great way to force people to use state digital currencies, as these would be the only ones that government-approved insurers would touch, by arrangement.
Not pictured: The intelligence community's cyber squads continuously hacking unregulated crypto markets to scare people into holding only insured currencies.
Insurance - or, at least, state-mandated insurance, is also a great way for the government to regulate private industry. The government just insists that citizens obtain insurance for risky activities that may affect others. Valid insurance, of course, where the government itself defines "valid", to mean "Complies with regulatory dictates".
Potentially, it's a great way to force people to use state digital currencies, as these would be the only ones that government-approved insurers would touch, by arrangement.
Not pictured: The intelligence community's cyber squads continuously hacking unregulated crypto markets to scare people into holding only insured currencies.