Is the world still a place with CBDCs, the last I read a headline about it was in 2023. I'm not really sure if CBDC is the reason why we are going digital but policy changes are making business go digital. Last year, my country was trying to go cashless policy because the government was trying to mop the floor of the too many circulation of money supply but that didn't last upto 3 months before it was reverse as many people couldn't cope with the policy.
However, the government saw a huge influx of digital transactions it has not experienced in many years, till now some business are still doing digital transactions and also accept fiat as alternatives for people that don't have means to digital. The government abandoned the policy simply because they were not prepared for other people, like the people without internet access, it was disastrous for them. Not everyone can digital at once.
However, the government saw a huge influx of digital transactions it has not experienced in many years, till now some business are still doing digital transactions and also accept fiat as alternatives for people that don't have means to digital. The government abandoned the policy simply because they were not prepared for other people, like the people without internet access, it was disastrous for them. Not everyone can digital at once.
The lack of Internet access is something governments need to fix if they want to move forward with phasing out cash for good. I believe the only way to do this is by making use of satellites where everyone can stay connected at no cost (free). The goal is to control our society. You might think you're benefitting from free Internet, digital payments, and smart devices. But behind it all, there's a government who's gathering your data and personal information to control you. Only possible when everything is "digitized". And cash (coins and paper money) belong to the analog world. It's harder to track/trace and harder to confiscate.
I'd say CBDCs are inevitable. People living in developing countries are lucky right now. Especially when digital payments aren't even mainstream there. Enjoy cash while it lasts. The longer it takes to launch CBDCs, the better. We all want privacy and freedom, right?
