Part 4/8:
The programmable nature of CBDCs, especially features such as expiration dates, raises profound privacy and control issues. As discussed in multiple prior analyses, CBDCs can diminish user privacy because transactions are traceable by the central bank, undermining the checks and balances associated with cash transactions.
Furthermore, the ability to set expiration dates adds a layer of governmental control that could impact individual financial autonomy. Users might no longer simply store savings for future generations; instead, their stored digital currency could be forcibly invalidated if not spent within the prescribed period. This could have far-reaching implications for family wealth transfer, savings habits, and economic freedom.