The main attraction of CBDCs for the ruling class is its surveillance potential. When everyone is forced to use CBDCs, every transaction get logged somewhere (not blockchain, but that doesn't matter). This will allow transactions which would normally slip undetected to be detected and therefore taxed. Capturing elusive tax revenue is a major promise of CBDCs.
Then there is monitoring of transactions for so-called money laundering. While intended for criminal elements of society, CBDCs will allow the ruling class to redefine who is considered a criminal.
Airline miles are a limited form of money. Cryptocurrencies-- if they're allowed to exist in that environment-- could end up being used in the same way as airline miles.
All transactions will be under the hands of the government without any barriers. They can program any money that is distributed.
For example, they could stimulate but code the payouts to expire if not used in say 60 days (then the money disappears). Or they could say the money cant be used on certain products.
The main attraction of CBDCs for the ruling class is its surveillance potential. When everyone is forced to use CBDCs, every transaction get logged somewhere (not blockchain, but that doesn't matter). This will allow transactions which would normally slip undetected to be detected and therefore taxed. Capturing elusive tax revenue is a major promise of CBDCs.
Then there is monitoring of transactions for so-called money laundering. While intended for criminal elements of society, CBDCs will allow the ruling class to redefine who is considered a criminal.
Airline miles are a limited form of money. Cryptocurrencies-- if they're allowed to exist in that environment-- could end up being used in the same way as airline miles.
Posted Using LeoFinance Beta
All transactions will be under the hands of the government without any barriers. They can program any money that is distributed.
For example, they could stimulate but code the payouts to expire if not used in say 60 days (then the money disappears). Or they could say the money cant be used on certain products.
CBDCs are a bad deal.
Posted Using LeoFinance Beta