CBDC's won't be on a blockchain

Most people these days think that CBDC's will be launched on a distributed ledger, or better said "Blockchain". But that won't be case, at least, that what is expected. There will be digital money, but it will all be issued by a third party issuer, the central bank. There will be no such thing as a decentralised chain which everyone will be able to check. The right to check who spends money on what will be with the central bank and probably the government. Which makes privacy completely lacking.

Money will be programmable

Yes, programmable, there will be a code necessary to issue money. And that code will have options in it to put in "stops", "limits", "budgets",... etc... And you can take these words with a very wide meaning. The "stops" could be, cutting someone of of the chain temporarily or permanently because they have done something that gives them no more right to transact anymore. The limits could be for instance, which is believed to be in the pipeline, a CO2 spending limit. Every transaction we do will have a CO2 impact, and once our CO2 budget is filled for a certain period, no more transaction will be possible. Unless you buy some more CO2 rights from someone else... Which is already the case in the corporate world.

This is a very scary foresight, as it makes us all prisoners of the central banks.

Central banks can impose tax

Central banks control every digital wallet there is as the third party. They have an insight in every wallet, and this cuts out the commercial banks. Which are competitive against each other. Some banks give more interest on deposits than others, that is law of demand and supply. If that is cut out, there is no reason for the central bank to give people interest on their deposits. To the contrary, they could impose a negative interest on people's wallets, if they spend money on for instance environmentally bad things. And promote "good" transactions by giving higher interest to people that do a lot of those. In essence this is a tax that is imposed by a non elected instance...

A lot more about this you can watch in this video by James Corbett. Very interesting video!

https://odysee.com/$/download/IA---CBDCs---Beyond-the-Basics---The-Corbett-Report/bd93dc5b0f40ca0f68321ab8b9fffc5b7465e0d3

Sincerely,

Pele23

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