Comment The use cases are narrow but legitimate (Score 1) 212
The bad part about lack of anonymity in our transactions is that Big Data actually gets us some reasonable legal use cases for privacy like why should my credit card company and everyone they share data with know what kind of porn I buy or what books I read or whether I go out to lunch often and who knows what kind of automated algorithms farther down the chain might do with that info like deny me employment surreptitiously.
I think unfortunately the cat is out of the bag in terms of protecting that kind of data from widespread sharing and mining. The only thing that we can really do now is legislate transparency in how its used (like credit reports) and prohibit discriminatory practices based on it.
Unfortunately financial privacy's primary use case is tax evasion, criminal purchases, and money laundering. I think it is better that we reform laws against consensual crimes like recreational drug use and respect freedom of speech/belief/press as a basic human right and not just count on bad laws being difficult to enforce.