Part 3/14:
A CBDC, by design, is issued and controlled entirely by the central bank. Unlike digital coins or cryptocurrencies that can be decentralized or semi-private, CBDCs remain state-controlled entities capable of incorporating various functionalities to serve monetary and regulatory goals. One particularly concerning feature is the potential for an expiry date on digital currency holdings, which could restrict the ability to save or carry over funds beyond a certain period set by authorities.