CBDC look just like private blockchains

in crypto •  9 days ago 

CBDCs Will Lack ‘Key Properties’ of Cryptocurrencies, Says CZ.

This is not news to anybody who has been paying attention to what central banksters have been saying for a few years. But a few quotes are amusing.

Another aspect CZ said they will likely not have is a limited supply. [...] As CBDCs are destined to be another instrument of monetary policy, central banks will issue them as they see fit.

erm... Tether?

Again, as central bank instruments, CBDCs “are going to have quite a lot of surveillance and control attached to them,” CZ said.

Did we expect anything less? This is the whole point - a monetary panopticon.

One thing the central banksters really don't want is to soil themselves with billions of prole accounts; this has traditionally been the role of commercial banks. But once a CBDC exists on a blockchain then there really is no logical reason to have commercial banks as intermediaries. So a lot of brainpower have gone towards splitting the wholesale and retail markets to keep the average user away from direct monetary policy.

So, CBDC stands for Central Banksters' Digital Chains. They will pretend to be public, in the sense of ubiquitous and mandatory, but underneath they are just private chains. Nothing changes.

CZ thinks some cryptos will survive. He rather has to say that, else he'd set fire to his empire. However, even in the trad banking system there are entities that exist outside the standard model; these are the cooperative banks, or credit unions. So there is, potentially, space for cryptos, of some description. What they will look like, however, will depend on the heavy hand of law.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE BLURT!
Sort Order:  

Congratulations, your post has been curated by @dsc-r2cornell. You can use the tag #R2cornell. Also, find us on Discord

Manually curated by @blessed-girl

logo3 Discord.png

Felicitaciones, su publicación ha sido votada por @ dsc-r2cornell. Puedes usar el tag #R2cornell. También, nos puedes encontrar en Discord