Central Bank Digital Currency Control - Is This How Freedom Dies?

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3 years ago
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Central Bank Digital Currency Control - Is This How Freedom Dies?

00:00 Introduction
02:06 Difference between CBDCs and cryptocurrencies
03:04 Benefits of CBDs
05:37 Risks of CBDCs

If you’re dazed and confused by the talk of cryptocurrency here and central bank digital currency there, then read on for some clarity.

CBDCs, or Central Bank Digital Currencies, are a new type of digital currency being developed by central banks around the world, including the European Central Bank and the Federal Reserve. Cryptocurrencies, on the other hand, are decentralized digital currencies that are not subject to government control.

CBDCs are similar to cryptocurrencies in that they are digital and can be used for peer-to-peer transactions. However, CBDCs differ from cryptocurrencies in that they are issued by central banks and regulated by national governments. Cryptocurrencies, on the other hand, are not regulated by any central authority.

As a result, CBDCs are sometimes seen as a more viable option for global payments than cryptocurrencies while others argue that CBDCs put too much control over finances in the hands of governments.

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