Bitcoin: Why volatility was crowned queen?$BTC
Protection against discrimination is one of them. Financial history can be used to discriminate in access to housing, employment or credit. Financial privacy protects from being judged for past financial decisions. Additionally, it guards against identity theft and fraud, as financial data is a target for cybercriminals. Keeping this information secure prevents misuse of it.
Personal freedom is also enhanced by financial privacy. People must be able to make transactions without worrying about being tracked or surveilled, thus protecting their autonomy. On the other hand, financial sensitivity is an important aspect. Some people may have sensitive financial situations that they prefer to keep private to avoid lawsuits or embarrassment.
There are activities that people may want to keep private, such as donations to charities or political causes, purchases of personal products or services, debt history, salary and income, and investments. These actions reflect personal preferences that are not necessarily intended to be shared publicly.
It is vital to recognize that financial privacy is not a shield to hide illegal activities. Privacy is not about evasion, concealment or deception. It's about protection and autonomy.
Financial privacy is a pillar that protects against discrimination, identity theft and intrusion into personal life. It is important that people know their rights and take steps to safeguard their financial information, balancing security and privacy with transparency and legality. Financial privacy is not only a matter of security, but also of dignity and respect for the individuality of each person.
