Central Bank Digital Currencies: The Future of Money or a Danger to Privacy?
Since the turn of the century, the term “cashless society” has been thrown around quite a lot. With the continued use of credit, debit cards and the advent of cryptocurrencies; the idea has evolved into a coming reality. The United States is among a number of nations exploring a Central Bank Digital Currency while the BRICS nations are looking to supplant the dollar. While some tout CBDCs as the future of money, there is a darker side to them: full governmental control and a gross invasion of one’s privacy are only two of the dangers of, what may seem to some as, a more convenient way to exchange money.
Swiss America CEO Dean Heskin and Chris Agelastos examine CBDCs, the consequences and how they factor into the Secret War on Cash.
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Articles referred to in this program:
IMF says central bank digital currencies can replace cash (cnbc.com)
BRICS: 3 Reasons De-Dollarization Will Fast-Track in 2024 (watcher.guru)