04-25-2023, 09:37 AM
The Euro-pegged Stablecoin of Société Générale has functions to recall or burn y
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/12yahc4/the_europegged_stablecoin_of_société_générale_has/"> <img src="https://b.thumbs.redditmedia.com/F5KNPs0tEgXn0akWcBhfBBBAC-EpNnbcPmMs4m8eaDI.jpg" alt="The Euro-pegged Stablecoin of Société Générale has functions to recall or burn your money. The worst is yet to come with these digital currencies controlled by the Banksters." title="The Euro-pegged Stablecoin of Société Générale has functions to recall or burn your money. The worst is yet to come with these digital currencies controlled by the Banksters." /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>A few days ago, we learned that the French bank Société Générale (SG) was working on a Euro-pegged Stablecoin project.</p> <p>This project is developed on the Ethereum blockchain in the form of a smart contract.</p> <p>The interesting thing about such a smart contract is that everyone can check the source code of the project by themselves.</p> <p>A good way to see how a bank sees things for digital currencies.</p> <p>So I invite you to have a look at this smart contract here: <a href="https://etherscan.io/address/0xf7790914dc335b20aa19d7c9c9171e14e278a134#code">https://etherscan.io/address/0xf7790914dc335b20aa19d7c9c9171e14e278a134#code</a></p> <p>Then, you might be surprised like me to see that in this Euro-pegged Stablecoin, SG has implemented a function called recall allowing SG to get your money back without your consent:</p> <p><a href="https://preview.redd.it/xk7jyrld3zva1.jpg?width=1040&format=pjpg&auto=webp&s=2aa8f9bf2d7f5d8f7d9d285cd6832e9a711521bc">SG can recall your money</a></p> <p>Another function called burn should interest you since it allows SG to burn your money:</p> <p><a href="https://preview.redd.it/nzh8z7rf3zva1.jpg?width=1076&format=pjpg&auto=webp&s=dbeb205a79a60001bd3008bb424132a0bb401a2c">SG can burn your money</a></p> <p>This is not even a CBDC, the source code of which will obviously be closed to prevent people from seeing what is in store for them.</p> <p>It is simply a Euro-pegged Stablecoin project.</p> <p>This makes you fear the worst when CBDCs are imposed on you!</p> <p>Bitcoin is your way out. You can go audit the Bitcoin source code. You won't find a recall or burn function.</p> <p>In the Bitcoin system, your Bitcoin is yours once you've taken possession of your private keys.</p> <p>Don't Trust, Verify.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/sylsau"> /u/sylsau </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12yahc4/the_europegged_stablecoin_of_société_générale_has/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12yahc4/the_europegged_stablecoin_of_société_générale_has/">[comments]</a></span> </td></tr></table>
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/12yahc4/the_europegged_stablecoin_of_société_générale_has/"> <img src="https://b.thumbs.redditmedia.com/F5KNPs0tEgXn0akWcBhfBBBAC-EpNnbcPmMs4m8eaDI.jpg" alt="The Euro-pegged Stablecoin of Société Générale has functions to recall or burn your money. The worst is yet to come with these digital currencies controlled by the Banksters." title="The Euro-pegged Stablecoin of Société Générale has functions to recall or burn your money. The worst is yet to come with these digital currencies controlled by the Banksters." /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>A few days ago, we learned that the French bank Société Générale (SG) was working on a Euro-pegged Stablecoin project.</p> <p>This project is developed on the Ethereum blockchain in the form of a smart contract.</p> <p>The interesting thing about such a smart contract is that everyone can check the source code of the project by themselves.</p> <p>A good way to see how a bank sees things for digital currencies.</p> <p>So I invite you to have a look at this smart contract here: <a href="https://etherscan.io/address/0xf7790914dc335b20aa19d7c9c9171e14e278a134#code">https://etherscan.io/address/0xf7790914dc335b20aa19d7c9c9171e14e278a134#code</a></p> <p>Then, you might be surprised like me to see that in this Euro-pegged Stablecoin, SG has implemented a function called recall allowing SG to get your money back without your consent:</p> <p><a href="https://preview.redd.it/xk7jyrld3zva1.jpg?width=1040&format=pjpg&auto=webp&s=2aa8f9bf2d7f5d8f7d9d285cd6832e9a711521bc">SG can recall your money</a></p> <p>Another function called burn should interest you since it allows SG to burn your money:</p> <p><a href="https://preview.redd.it/nzh8z7rf3zva1.jpg?width=1076&format=pjpg&auto=webp&s=dbeb205a79a60001bd3008bb424132a0bb401a2c">SG can burn your money</a></p> <p>This is not even a CBDC, the source code of which will obviously be closed to prevent people from seeing what is in store for them.</p> <p>It is simply a Euro-pegged Stablecoin project.</p> <p>This makes you fear the worst when CBDCs are imposed on you!</p> <p>Bitcoin is your way out. You can go audit the Bitcoin source code. You won't find a recall or burn function.</p> <p>In the Bitcoin system, your Bitcoin is yours once you've taken possession of your private keys.</p> <p>Don't Trust, Verify.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/sylsau"> /u/sylsau </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12yahc4/the_europegged_stablecoin_of_société_générale_has/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12yahc4/the_europegged_stablecoin_of_société_générale_has/">[comments]</a></span> </td></tr></table>