It's relatively easier for China to implement whatever plans the state has because of the kind of government they have. Resistance is very minimal and it could easily be addressed. Critics and other opponents of the measure could be silenced effortlessly.
While this digital currency is obviously an attack against privacy and freedom, to a people who are already deprived of it to a certain extent, nothing anymore matters.
While this digital currency is obviously an attack against privacy and freedom, to a people who are already deprived of it to a certain extent, nothing anymore matters.
I would expect more resistance in the US and certain parts of the EU, such as Germany, which is a very cash-intensive country. I expect implementation to be much slower, due to inefficient administrations, and adoption much slower as well.
I'm curious, is the CBDC in use the version that has an expiration date?
I would be surprised if they have implemented that already. The logical, and Machiavellian, thing to do is to wait until everyone is using CBDCs to start programming them with the controversial features, such as expiration.
Europe and the U.S. residents hardly understand CBDC's and equate it to crypto currency, so expect little resistance. The Americans had nearly all their freedoms stomped on after 9/11 when the Patriot Act was passed. It essentially allowed government agencies to surveil U.S. citizens and international persons of interest without being subject to probable cause warrants. Seems worthy of outrage, you would assume.
The Biden White House has spent some portion of the U.S. budget to research CBDC's and develop regulatory framework behind it, and hardly any U.S. media publications have latched onto the matter. The Chinese have no choice but to adhere to CDBC's. Europe and the U.S. will voluntarily adhere to them out of ignorance.
), so I don't think this thread should have been in Politics.
