Ppl are talking about new CBDC but the current Fiat system has been running digitally for decades now, what’s the difference and why all the fuzz?
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CBDCs effectively work as an account at the Central Bank for you as an individual.
Makes transfers easier operationally by cutting out middlemen.
The government having one place to check for everyone’s bank history would make something like the covid handouts easier and less prone to fraud.
On the other hand, they would inevitably use it for law enforcement. Good luck buying food or getting a job if there’s any kind of black mark against that bank account.
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