CBDCs close Orwell’s ’1984 loop perfectly,’ think tank says
CBDCs threaten more central bank control over money, including potential expiry dates on personal savings, Bitcoin Policy UK’s CEO said.
Global central bank digital currency (CBDC) efforts are threatening to give financial institutions more control over the money supply and personal savings, as the transatlantic divide between the US and Europe widens in terms of financial technology.
CBDCs are digital versions of fiat money issued on a permissioned, private blockchain, usually controlled by a central bank, as opposed to decentralized blockchain networks.
“Not all digital currencies are the same,” said Susie Violet Ward, financial analyst, co-founder and CEO of think tank Bitcoin Policy UK, warning that CBDCs represent the “weaponization of money in its purest form.”
