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I confused Russell Brand
There might be a better understanding to be found by first explaining what WIC and SNAP are
WIC - Women Infants and Children - offers free very specific goods (food products) (powder to dark blue labels on the grocery shelves WIC)
SNAP - Supplemental Nutrition Assistance Program - gives free food products to those who qualify, limited to non prepared food (since covid there have been changes and it is allowed in some states) - based off income and family size - little to no out of pocket, income dependent cost for groceries.
Where I try to liken the CBDC to those ^ programs is they’ve already got in place (the marketplace) ways of categorizing products into approved payment categories
(if you grab the wrong tuna with WIC it won’t process the payment, if you get a hot item with SNAP you will owe a balance of “real” money)
The idea of CBDC just piggybacks off of already existing government funded economy.
I did a guest appearance to try and break it down into why we either accept that this is how it keeps working, or if we say that this is not sustainable nor helpful -
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