Central Bank Digital Currencies And The Orwellian New World Order
The proposed authoritarian evolution of centrally issued digital currencies takes the world closer to dystopia.Central Bank Digital Currencies (CBDCs) have received increasing interest since Facebook’s failed launch of Libra and China’s recent announcement that they are moving forward with the digital yuan after an early trial period. This is “why we Bitcoin”: because the damage, destruction, and inequality brought about by fiat money will only be magnified with the proliferation of CBDCs.Although some manifestations of the US dollar are already digital, there are inherent differences in....
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The Central Bank of the United Arab Emirates has unveiled its plan to launch a digital currency as part of its 2023-2026 strategy to become one of the world’s top 10 central banks. A growing number of central banks worldwide are working to launch central bank digital currencies (CBDCs). The Central Bank of the United Arab Emirates (CBUAE) revealed Monday its plan to issue a state-backed digital currency within the next five years. The announcement was part of the central bank’s “2023-2026 strategy” to “position it among the world’s top 10 central....
While countries like Bangladesh and Ecuador are outright banning bitcoin and other digital currencies, Italy has taken an interesting first stance on the matter. In a notice on virtual currencies, published on January 30, the Central Bank of Italy acknowledged the use of virtual currencies as legal in their country. The Central Bank of Italy started off their notice with an explanation of digital currency, then noted that the Financial Action Task Force (FATF) published a paper on digital currencies in relation to money laundering and terrorism. The Central Back then explained that the....
Now that Bitcoin is gaining more popularity all over the world; the time has come – once again – for central banks to warn about the potential dangers of digital currency. Just a few days ago, a similar warning was issued by the Minnesota Commerce Commissioner. But this time, it’s the central bank of Kenya issuing a statement on trading or holding Bitcoin and other virtual currencies. Similar to how most central banks in the world would respond, Kenya’s central bank is not a big fan of the “dangers” represented by Bitcoin and other digital currencies. Bitcoin is not regulated in Kenya at....
Central banks would "struggle" to implement monetary policy in a world where digital currencies are more widely used, a senior official from the Bank of Canada said in a speech last week. During an appearance at the Rotman School of Management and Munk School of Global Affairs in Toronto, senior deputy governor Carolyn Wilkins spoke about innovation and the changing face of central banking in a post-financial crisis world. Wilkins pointed to bitcoin as part of a landscape of alternative financial technologies and concepts that she said are pushing more and more financial activity "outside....
In this episode of Fed Watch, the hosts discuss the potential for a digital euro, central bank digital currencies and the "financial hurricane" that is ongoing The post Video: Digital Euro, Central Bank Digital Currencies And Bitcoin appeared first on Bitcoin Magazine.