this post was submitted on 11 Oct 2023
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Privacy
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There is a vast sea of difference between our existing banking infrastructure and the nightmare scenario of a CBDC. For example:
A digital ID system would solve many existing problems with how people interact with the government. It could enable massive efficiency gains and more secure, transparent voting. But it's also a requisite step to a mandatory CBDC.
Thanks for the detailed response, definitely a lot to consider there.
I think part of where I'm coming from is that i see the negative points, especially around preventing money being spent or gaining unfettered access to information, as items that are only a few laws away in event of a ultra-conservative majority, regardless of a digital ID system. With a MAGA-driven majority at some point there is not much in the way of patriot act 2: electric boogaloo, patriot act 3, 4, etc. So i tend to see the CBDC fear mongering as being distracted by the trees instead of considering the forest in total. There's not much to be done to prevent it, but whether its mandatory or not, the bigger problem is who ends up in charge of it and especially who ends up writing the initial laws for it.