WEFwoof

Thank you for the link!

Indeed it was Carstens and not Georgieva (as I wasn't clear in my other comment).

In the context of the post/video, I'd say the social credit system (the "calories card"). If you abuse the resources, your card gets zeroed out, and you're effectively banished from society.

In the example of the car that you give: cars are pooled anyway, and assigned for a trip, then returned to the pool. So essentially you always get another car for each trip, but you don't own it.

Rather privacy as there can't be a direct connection between you and each one of your transactions, nor can the ECB refuse and cancel transaction of yours or completely exclude you from the system altogether.

The former is almost a given that it will in fact be possible. The latter was raised as an added benefit of the system either by BIS's Carstens or IMF's Georgieva -- can't recall with certainty currently. Both are promoted as weapons against black markets, corruption, and terrorism.

Yet those who are willing to give up liberty for safety, and all that.

Exactly, like we didn't have a life of leisure to spend it in cultural pursuits after the 1950s.

Ah, well, perhaps when the robots come to serve, and until they revolt.

The transition can be done quickly enough, though probably not overnight in Europe (like with India's overnight demonetisation of the 500 and 1,000 Rupee notes).

In the current climate, where we're all ever so slightly microbiophobic, it'll even be easier to push through as a good thing, handwaving any concerns with respect to privacy and centralised control as conspiratorial.

Indeed I am aware of the intended meaning of "inclusive" in their texts, I just played around with expanding it a bit.

Just because the central banks issue the money, it doesn't necessarily mean that they also have to handle the transactions.

The current state of merchant banks and payment providers can very well continue, without CBs having to assume new responsibilities.

After all, the trend is towards more privatisation, not less.

I share your pessimism. I'd say the central bank is the oven wherein the commercial banks bake their pies.