Central Bank Digital Currency- it’s Drawbacks!
How Central Bank Digital Currency or CBDC Works?
Right now all monetary transactions that we do is between ourselves & our bank.
With CBDC, the power will go to the Government.
They Government will know all transactions, even for your business, that you are undertaking and they can control it.
What does this mean?
It means that if the Government does not like what someone is saying, then they can freeze that person’s account as in the case of the truckers in Canada.
So, people have to abide by the rules of the Government for whatever monetary activity they want to indulge into.
Would you allow that?