"By tracking every financial transaction, they will have access to every detail of our spending, the recipient of our money, and how we allocate our resources. In essence, it replicates George Orwell’s dystopian society depicted in 1984," critics have argued.
"It's easier for BlackRock to do things when people aren't thinking about it," Varlay said, adding that BlackRock "doesn't want to be anywhere on the radar."