{"id":43993,"date":"2024-03-16T20:00:00","date_gmt":"2024-03-16T19:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=43993"},"modified":"2024-03-16T20:04:59","modified_gmt":"2024-03-16T19:04:59","slug":"cbdcs-threaten-fundamental-freedoms","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/cbdcs-threaten-fundamental-freedoms\/","title":{"rendered":"“CBDCs threaten fundamental freedoms”"},"content":{"rendered":"
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Regulators want to sell us the image that digital currencies linked to central banks will empower citizens, but at 11Onze we have long warned that the reality seems to be moving in the opposite direction. A Washington DC-based think tank has just published a report warning that CBDCs pose a threat to our fundamental freedoms.<\/b><\/h3>\n

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Projects to introduce central bank-issued digital currencies (CBDCs) are spreading across the global banking sector. <\/span>Unlike cryptocurrencies such as Bitcoin, CBDCs are not decentralised<\/b> but are controlled by the central bank of the issuing country. These digital currencies will be subject to the same regulations as traditional currencies and are intended to consolidate government control over payment systems, now threatened by the rise of cryptocurrencies.<\/span><\/p>\n

Proponents of CBDCs argue that they would improve the efficiency and security of financial transactions, reducing transaction costs for businesses and consumers compared to fiat money. On the other hand, they argue that they could help reduce the shadow economy, since <\/span>they would be less anonymous than cryptocurrencies and, unlike cash, are fully controllable by the state<\/b>. Moreover, they say, they would foster greater financial inclusion, allowing easier and safer access to banking products.<\/span><\/p>\n

In this context, a recently published <\/span>report<\/span><\/a> by the Cato Institute, a Washington DC-based think tank, analyses the risks of central bank-issued digital currencies and concludes that \u201cCBDCs threaten fundamental freedoms\u201d, as \u201c<\/span>many of the potential benefits touted by their advocates do not stand up to scrutiny\u201d<\/b> and that the US Congress should oppose any government plan to issue a CBDC.<\/span><\/p>\n\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n

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