Central bank digital currencies (CBDCs) are coming fast, and you need to be prepared for them because they’ll mark a major victory in the war against cash — and against your personal privacy.
You’ll see why today.
As the name implies, central bank digital currencies are digital, existing exclusively in electronic form. They’re not physical at all. Central banks would control them.
But it’s important to understand they’re not new currencies. They’re just digital forms of existing currencies. So the central bank digital currency of the European Central Bank will still be the euro. The central bank digital currency of the Fed will be the dollar. The Chinese yuan will be a digital yuan.
They’ll just exist in 100% digital form. A lot of people say, “Wait a second. Isn’t that a cryptocurrency?” The answer is it’s not.
Digital, but Not Crypto
Cryptocurrencies are different in some important respects. Number one, cryptocurrencies operate on a blockchain, or a digital ledger. It’s a way of keeping track of every transaction involving a particular cryptocurrency like Bitcoin.
A central bank digital currency does not have to be on a blockchain. It could be, but it probably won’t be. So it is digital, it is encrypted, but it’s not a blockchain and it’s not a cryptocurrency.
The other thing about cryptocurrencies is that they’re not issued by any central authority. They’re created mathematically. But a central bank digital currency is issued by a central authority. It’ll come from the Federal Reserve, or the European Central Bank, or the People’s Bank of China or other central bank institutions.
So CBDCs and cryptocurrencies aren’t the same.
Time to print our own money, or say hello to negative interest rates and permission as to what we can buy.
JUST SAY NO!
Not going to happen no matter how hard they keep trying to push it. However the US needs to show them Peacefully that enough is enough or I don’t think we will ever end this nightmare that we are all stuck in the middle of. Stop buying their crap on Amazon and all these other websites, show them you have had enough, hit them where it hurts, since yes they control our Corporations too. Been trying to tell you they Control the Whole World. Do you fools seriously want their New World Order, this is not something new they have all been screaming it for decades, they even had books published telling all about it.