F.U.C.U. - Freedom United Credit UnionSubmitted by RobHino on Wed, 03/13/2013 - 10:09
I had this epiphany as I woke up this morning.
F.U.C.U. - Freedom United Credit Union
The First 100% Privacy Protected Online Bank
There's a lot of different directions to take this concept of financial privacy. Here are a few features I had in mind:
1. Imagine what Cody Wilson is doing with DEFCAD, Defense Distributed, and his no-takedown search engine. Now apply that to finance.
2. Imagine how startpage.com's software doesn't collect or store any personal information. They're also working on private email. Now apply that to finance. We simply do not keep records. Like theirs, our software is not set up to store information. We only use your info as long as necessary, and then destroy it, or make it so that we don't know who's who or what's what.
3. Imagine open-source, online community banking, people could make useful plugins.
4. Imagine a new payment method that combined the sleekness of WePay.com and GumRoad.com, the name recognition of PayPal, the privacy of Bitcoin, with the ease of purchase like the Facebook like.
5. Imagine a payment go between to mask our transactions. You buy your products through F.U.C.U's system, and we pay for the item, mask and delete the record of the transaction. You still use your existing bank account, but all they see is a random transaction number. Our system deletes these.
6. Imagine localized (go to 49:28) or commodity backing options.
7. Imagine if Amazon and Ebay had private money? Imagine if F.U.C.U. simply matched buyers and sellers, accounted for, and facilitated all the transactions.
Do you see what I see?
Then you see F.U.C.U. - Freedom United Credit Union
I think the only way we're going to be able to escape the bankers, is to start our own bank and our own payment transaction systems.
We need to bypass Mastercard and Visa somehow too.
I've been looking for a place to make my mark in the liberty movement on the scale of something like Defense Distributed or Bitcoin. Could the first privacy-oriented online bank be it?
It sounds like a perfect Kickstarter project, but it just seems like there would be SO many hurdles to pull off a project of this magnitude, and the start-up costs sound extremely high. You'd probably have to have servers in another country. You'd have to develop your own custom software, and it would have to be extremely secure and hack-proof.
What are y'alls thoughts on something this? I think we need to tell all the banks, F.U.C.U.!