The tyrannical tendencies of many supposed democratic states are already a clue as to what they would do with CBDCs, the summary is, control, control, control.
That your carbon footprint is "too" high?
- Control.
That you consume "too much" meat?
- Control.
And you will have all that with CBDCs in the palm of your hand, let's not give it to you.
Relevant considerations of CBDCs
Surveillance and privacy: CBDCs can allow greater monitoring of financial transactions by monetary authorities. This raises concerns about financial privacy and possible government surveillance. However, central banks and policymakers often face the challenge of balancing the need for oversight with the protection of individual privacy.
Monetary control: CBDCs could allow greater control by the central bank over the economy and monetary policy. By having greater access to real-time data, central banks could more directly influence the economy by implementing targeted monetary policies. This can have advantages and disadvantages depending on the economic and political perspective.
Cybersecurity: The implementation of CBDCs involves risks associated with cybersecurity. The protection of technological infrastructure and the prevention of possible attacks and fraud will be critical aspects to guarantee trust in CBDCs.
