Your Money and Your Life by Edward Snowden - Continuing Ed

πŸ‘‰ Go to Your Money and Your Life by Edward Snowden - Continuing Ed

Snowden dives into Central Bank Digital Currencies (CBDC).

Instead, a CBDC is something closer to being a perversion of cryptocurrency, or at least of the founding principles and protocols of cryptocurrencyβ€”a cryptofascist currency, an evil twin entered into the ledgers on Opposite Day, expressly designed to deny its users the basic ownership of their money and to install the State at the mediating center of every transaction.

I do worry that the motives for governments to adopt CBDCs are far from pure. It is easy for us to look at China and the Digital Yuan and clearly see that it is a way to surveil and control all financial activity in China. That also is a pretty good reason for China to push out all other crypto assets.

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