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RE: Daily Crypto Markets Live Blog: Crypto Market Cap Back At $2T (08/12/21)

in LeoFinance3 years ago

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.

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