Many readers of our website regularly ask why hacker’s don’t just erase everyone’s student loan, medical and credit card debt as shown in the hit television series Mr. Robot. However, considering how this data is stored, this is not a very likely scenario. In fact, it may even be impossible.
According to Bloomberg’s Megan McArdle, the stunt highlighted in the show would ruin the economy if it was actually pulled off. Furthermore, it wouldn’t even be possible to achieve this goal to begin with, because the records for each individual are stored across many different servers, and are not centralized in one vulnerable location.
In the world of Mr. Robot, one company holds at least 70% of the entire global consumer credit industry, but this is not how things work in reality.
“Student loans are handled by other, different companies. Car loans. Mortgages. Each market brings new players, who all have their own records you need to wipe,” McArdle explains.
So to start, this information is spread across a variety of different companies, and each company has this information stored at a variety of different locations, both online and offline.
According to Business Insider, “It’s also totally unrealistic that a corporation that owns that much of the world’s debt would store their data in only one or two server locations. E Corp stores everything at Steel Mountain, an enormous underground bunker that fscociety targets midway though the season. It’s modeled after the real-life Iron Mountain, which similarly stores huge amounts of sensitive information. Not even the best planned heist would stand a chance of infiltrating either location, especially in the world of “Mr. Robot” where E Corp would have limitless resources to safeguard the facility.”
There would be a number of unintended consequences from this type of hack as well. In addition to wiping out debt, a stunt like this could also wipe out all records of ownership in the world, if it was actually possible. This means that any claim that a person might have on a house or a car would be legally erased, leaving no proof of ownership.
McArdle also suggested that average citizens would foot the bill through the high taxes that would result from so much debt being erased.
“Student loans are guaranteed by the government (and now usually made directly by the government). Guess who guarantees the government? That’s right, you, Joe Taxpayer. Congratulations, your student loan just evaporated, and your tax bill just doubled,” McArdle explained.Of course, this argument is not much of a deterrent for the poor working class that doesn’t own any property to begin with and finds themselves in extremely low tax ratings.
It is fair to point out the predatory nature of these debts and to demand change. However, it is important to be informed and realistic about what hackers are actually capable of. Thanks to much of the propaganda that we have been inundated with, people seem to think that hackers are capable of anything, but the truth is that decentralized networks are often not capable of being hacked, especially if some of the information is being stored offline.
- Kanye West Announces He’s Running For U.S. Presidency 2020
- 2 Protesters Critically Injured After Man Driving Jaguar Plows Through Crowd
- US Sends Aircraft Carriers and Warships Into South China Sea
- Epstein Victim’s Lawyer Spencer Kuvin Says Ghislaine Maxwell Will Be Suicided
- Woman Claims Ghislaine Maxwell Raped Her Repeatably
- Native Tribal Leaders Want Mount Rushmore To Be Removed
- New Book Claims Bill Clinton Had An Affair With Trafficker Ghislaine Maxwell
- CNN Reporter Mugged On Live TV At Knife Point
- Epstein Victim Virginia Giuffre’s Attorneys Ordered By Judge To Destroy All Documents
- Officer Stabbed And Hundreds Arrested During First Day Of New Hong Kong Protests
- Ghislaine Maxwell Epstein’s Madam Has Been Arrested By The FBI
- Hundreds Of Police Storm Seattle Autonomous Zone And Arrest Remaining Protesters
- Suspected Killer Of Missing Soldier Vanessa Guillen Dies By Suicide When Found By Police
- LA City Council Moves To Replace Police Officers With Unarmed Crisis Response Teams
- Human Remains Found In Search Of Missing Fort Hood Soldier Vanessa Guillen
- Gunman Opens Fire On Protestors At Louisville Park
- The Chinese Debt Trap Is Taking Over The Entire World
- Fox News Report Says Trump Is Feeling “Fragile” And Could Drop Out Of The Election
- Princeton To Remove Woodrow Wilson’s Name From University’s Buildings Over Racist Views
- Detroit Police Drive SUV Through Crowd Of Protesters
- Iran Asks Interpol To Help Arrest Trump For Assassination Of General
- Bill Making It Illegal To Forcefully Microchip Employees Passes In Michigan
- The Officers Involved With The Death Of George Floyd Could Get Their Jobs Back
- Kylie Jenner Accused Of ‘Refusing To Pay’ Bangladeshi Workers
- Lawmakers Push To Change Name Of John Wayne Airport Over Racist Remarks
- Petition Calls For Statue Of Christopher Columbus To Be Replaced With Chef Boyardee
- St. Louis Mayor Gives Out Names and Addresses of “Defund The Police” Protesters
- Minneapolis City Council Votes Unanimously To Defund And Dismantle The Police Department
- Officials Suspect Foul Play In Disappearance Of Fort Hood soldier Vanessa Guillen
- North Carolina Police Fired After Using Racial Slurs
- News1 year ago
Alabama Passes Law to Chemically Castrate Pedophiles
- Tech5 months ago
The New Bugatti La Voiture Noire Is Worth £14 Million
- News6 months ago
Iranian Presidential Adviser Posted A List Showing Locations For All Trump’s Properties
- Anonymous11 months ago
Anonymous Message to the People of Hong Kong
- Tech2 weeks ago
DeLorean Confirms Plan To Redesign and Produce A New Line Of DMC 12S Cars
- News3 weeks ago
Man Used Internet Registry to Track down and Beat up Pedophiles
- Anonymous4 months ago
Anonymous Warns Citizens Of The World About Coming Global Lockdown
- News10 months ago
Leonardo-backed fund Pledges $5 Million To Preserve Amazon Rainforest