The stable digital currencies, also known as CBDCs have been gaining popularity in the last two years, especially after 2021 bull market.
Recently I was looking at some news about CBDCs implementation in Australia, and I was wondering if this is something that could cause trouble or confusion within a local economy as it moves forward. Countries like Canada have developed contingency plans for this system, although I'm not sure how small countries could be affected by this. What are your thoughts?
Link to the news as reference:
https://twitter.com/thetokenist/status/1556986345972809728?s=20&t=bpZZ56l23Rh3v40wykXckQIn terms of their economic impact CBDCs are probably as bad as fiat currencies, so in that front they will not be any worse than what we have right now, but the real problem with CBDCs is the huge control governments will have over the currency, privacy concerns are bad enough as you will not be able to buy anything without being under heavy surveillance, but now governments could even forbid you of buying what you want with your money, for your own good of course, so if possible I would not like for CBDCs to gain any traction at all.