Encryption allows a user to safely, anonymously, and invisibly transmit data from one place to another. Even simple encryption makes it almost impossible for someone to decipher the contents of a transmission, even if they have access to the most powerful decryption systems on the planet. As privacy and security become more serious concerns for those involved in 'net transactions, encryption will become stronger and far more prevalent. According to Richard Rahn in his groundbreaking The End of Money , the use of encryption to secure financial transactions is the only outcome compatible with a free society. Allowing a government unlimited access to the financial activities of its citizens will inevitably lead to tyranny.
Bots are simple programs that allow a user to more effectively use information.
The 'bots specific to this article are enabled by their user to perform various financial transactions, thousands per minute if necessary. Users authorize the 'bots to engage in certain transactions such as transferring money from one account to another, purchasing items at their lowest cost, and investing the users money in mutual funds that meet the users requirements regarding risk possibilities and return potential. All of these transactions can be encrypted and executed in a few nanoseconds. The user does not even have to be active in most of these transactions, and later generation versions of these programs will be so simple and user friendly that even the most techno-illiterate person will be able to use them with ease. As noted by Frank Shostak, chief economist at Ord-Minnett, Australia, in his recent article on digital money, it will be linked at first to government fiat money, and thus subject to the pitfalls of any fiat currency.