How CBDC's Deliver Central Planned Dystopia

Central Bank Digital Currencies (CBDCs) are digital versions of a country’s fiat currency issued and backed by its central bank. Unlike physical cash, CBDCs can be tracked and controlled, allowing central banks to monitor

Highlights

• Central Bank Digital Currencies (CBDCs) are digital versions of a country’s fiat currency issued and backed by its central bank.
• Unlike physical cash, CBDCs can be tracked and controlled, allowing central banks to monitor and manipulate economic activity more closely.
• While this level of control may seem beneficial, it has the potential to result in a dystopian society where individual freedom and privacy are compromised.
• Despite the hype and promises of benefits, it could deliver a central planned dystopia where individuals are restricted from spending money on certain goods or services based on their social credit scores.
• This kind of dystopian scenario has already played out in China, where the government’s social credit system monitors citizens’ behavior and can restrict access to certain services.

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