1. Citizens will have to use banking services that will charge them for every action they make with their own money. Charge them for credit line and more. meaning it will cost us to use our money.
2. The government will be able to take your money from the bank, tax it or freeze it. You are not in control or the owner of your own money.
3. Every action or purchase will be known to the BigBrother, so personal privacy is a dead idea.
Sure. It makes it similar to position of black slaves in previous centuries. They lived in houses not belonging to them, they used clothes and items belonged to their master. They had to work just for food. Every their movement must be approved by the master. And they must be grateful to their master for just being alive.