You are viewing a single comment's thread from:

RE: CBDC Reset

in Deep Dives2 years ago

Imagine, for example, if they program some sort of expiration-date into the smart contract. They'd say that this is for the benefit of the economy, to maintain the "velocity of circulation of money." This would be in perfect accordance with the Central Banks' prime directives, as it is their duty to guard over the health of a nation's economy. That's fine and dandy, but I dread the day when we see an expiration-date next to our bank-balance. If a Universal Basic Income is decided upon for example, I bet such a provision would be included.

Or what about the ability to control interest rates on an individual basis? If you're acquainted with any sort of "credit score system," you already feel where this is going. Now imagine coupling that power to a social credit score scheme like the one in China; now your line of credit is coupled to your compliance to rules that have nothing to do with your ability to pay back debts. And all this is only what I can think of off the top of my head, and without even mentioning the power to completely cut you off from the economy.

Dear @zyx066, From point of my view, I agree with your findings and predictions. So, how should we resist central bank's cryptocurrencies?
Your articles I've read so far have focused on pointing out the problem. However, You did not write about how to solve the problem.😅