US CBDC Narrative Is A Fantasy – Bitcoin Magazine

This is an opinion editorial from Shinobi, a self-taught Bitcoin space educator and technology-oriented Bitcoin podcast host.

Since the recent White House report on Bitcoin and cryptocurrencies, the discussion about a United States central bank digital currency (CBDC) has gotten weird again. Will they make one? How long will it take? Of course, the government will take advantage of the vast increases in capabilities and surveillance powers that a CBDC will bring. right?

Its own report specifically mentions more efficiency as a payments platform, faster cross-border payments, economic growth and stability (easier control of monetary policy), protection against cyber and operational risks (financial institution security breaches), safeguarding the privacy of sensitive data and minimizing the risk of illicit financial transactions. In other words, they want to have total visibility into all of your financial activity, have the ability to deposit money directly into people’s accounts for stimulus and monetary policy purposes, and be able to arbitrarily block “illicit activity,” which as we know today is a rapidly changing target that means who knows what next year.

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