andreykocevski
Joined 5 years ago
Joined 5 years ago
CBDCs are a double-edged sword, they can be used by tyrannical governments to enforce surveillance and bigger control, or they can be used by Central Banks to enter the retail digital currency space (which can make digital transactions cheaper, more accessible, and can also make the difference between Retail Bank and Central Bank interest rates lower. To some extent Central Banks also feel threatened by Bitcoin and other decentralized digital currencies). I have no doubt countries will abuse this if implemented, but I also have no doubt that countries with protected liberties will make sure it doesn't cross into surveillance thats outside of the current standard...
Also, its actually much worse with credit card payments. Even Bitcoin is traced significantly (there are multi-billion dollar companies that solely work with governments and financial institutions to trace cryptocurrencies). Also cash is not as anonymous as one might think. Bigger sums are always traced and recorded with the serial numbers on the banknotes, and theres always upper limits of 2K-10K eur of how much you can pay with cash without reporting.