by Natalie Winters at War Room
Ripple Labs Inc., a Google-backed technology company with ties to the White House, is funding research into algorithms that fine and “penalize” people for sharing stories deemed “misinformation” or “fake news.”
The research, which is being conducted at the University of Waterloo, follows Ripple positioning its blockchain-based technology for application with Central Bank Digital Currency (CBDC) by governments across the world. The company has reportedly collaborated with over a dozen countries on CBDC ventures, inking partnerships with the Hong Kong Monetary Authority, the Republic of Palau, the Royal Monetary Authority of Bhutan, Montenegro, and Colombia.
The company has also held meetings with high-level Chinese Communist Party officials despite fears that CBDC could easily be used to implement a Chinese-style “social credit score” system in the West. Ripple has also enjoyed financial backing from Chinese Communist Party-linked firms such as ChinaRock Capital Management and China Growth Capital in addition to Google.
Ripple also retains ties to the White House, as its former Advisor, Michael Barr, is the second vice chair of the Federal Reserve for supervision. A former high-ranking Obama-era Treasury official, Barr is “in charge of developing regulatory policies for cryptocurrencies and stablecoins” and “expected to scale daily oversight of both the biggest lenders and smaller financial firms that play a part in the overall economy.”
The research, led by University of Waterloo PhD candidate in electrical and computer engineering Chien-Chih Chen, could confirm fears concerning the link between CBDC and how, if people hold political or social beliefs contrary to mainstream ideas, they could be penalized.
Even financially.