PayPal warns everyone: authorities and businesses are preparing a global list of banned purchases

According to co-founder of PayPal David Sachs, in the near future we should expect big companies and authorities to form a list of so called "prohibited purchases" "No-Buy" for users and companies that have questions.
David Sachs warns that global payment systems, including PayPal, are in the final stages of forming a list of prohibited purchases. At the same time, he notes that this is not a requirement of the authorities in relation to the company, although they are not against such a list.

PayPal warns everyone: authorities and businesses are preparing a global list of banned purchases

The company has now established cooperation with several contractors who are engaged in tracking suspicious financial transactions, and has already blocked several resources. These include a Christian site that was raising funds for demonstrators in Washington in January of this year and other resources deemed extremist.
However, such a policy, according to Sachs, could lead to other organizations that have no signs of extremism falling into the trap of financial censorship. The problem, as Sachs points out, is the inability to later appeal the companies' decision to block accounts.

If a user is blacklisted by airlines by mistake, they can at least go to court, but if they end up on a list compiled by private companies, getting protection is extremely difficult.
Much of the reason for the emergence of cryptocurrency is to avoid total control and subsequent banning of financial activity, both for individuals and companies.

Financial censorship can become an extremely powerful means of influencing unwanted individuals or organizations. In addition, we should not forget that similar censorship, only information censorship, is already in effect. The most striking example was the blocking of D. Trump's Twitter account.
If the list announced by PayPal is agreed upon and put into practice, it will mean another step in establishing control over the actions of users. In many ways it reminds one of the already existing mechanism of total surveillance in the PRC, where the well-being and career of an individual citizen depends on his or her social rating.
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