The rise of digital assets is a revolution in the digital and financial world; for the first time, consumers can make direct money payments across the globe at the speed of the internet. The widespread use of digital assets would allow consumers to transfer money near-instantaneously rather than rely on a series of intermediaries to conduct a single transaction.
The extraordinary promise and rise in popularity of digital assets are prompting lawmakers, regulators, and economists to examine tools such as a Central Bank Digital Currency (CBDC). A CBDC is a profoundly dangerous tool that threatens consumer privacy and security as well as the continued innovation of the digital asset market.
Although this nightmarish scenario may have seemed like a distant dystopian future not too long ago, the fragile reality of an increasingly cashless society is on full display in 2022. In an attempt to squash the voices of those who disagree with his preferred policies, Canadian Prime Minister Justin Trudeau froze the bank accounts of protesters. The widespread use of a CBDC would increase the ability of petty tyrants to control the finances of their citizens and silence voices of dissent.
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The extraordinary promise and rise in popularity of digital assets are prompting lawmakers, regulators, and economists to examine tools such as a Central Bank Digital Currency (CBDC). A CBDC is a profoundly dangerous tool that threatens consumer privacy and security as well as the continued innovation of the digital asset market.
Although this nightmarish scenario may have seemed like a distant dystopian future not too long ago, the fragile reality of an increasingly cashless society is on full display in 2022. In an attempt to squash the voices of those who disagree with his preferred policies, Canadian Prime Minister Justin Trudeau froze the bank accounts of protesters. The widespread use of a CBDC would increase the ability of petty tyrants to control the finances of their citizens and silence voices of dissent.
Read more
Inequalities and danger for Freedom: The bitter taste of Cashless Economy
