Showing posts with label digital dollar. Show all posts
Showing posts with label digital dollar. Show all posts

Edward Snowden Warns Of Bitcoin's EVIL TWIN, a Tool Of 'Crypto-Facists'...

Bitcoin's evil twin

Former CIA turned whistleblower Edward Snowden calls central bank digital currencies the 'evil twin' of decentralized cryptocurrencies like bitcoin. For him, CBDCs - as they are known as Central Bank Digital Currencies - are "crypto-fascist" tools.

"A Perversion Of Cryptocurrency..."

The computer specialist, who resides in Russia as a fugitive from US justice for leaking thousands of 'top secret' documents wrote on his personal blog.

"I will tell you what a CBDC is NOT—it is NOT, as Wikipedia might tell you, a digital dollar. After all, most dollars are already digital, existing not as something folded in your wallet, but as an entry in a bank’s database, faithfully requested and rendered beneath the glass of your phone.

Instead, a CBDC is something closer to being a perversion of cryptocurrency, or at least of the founding principles and protocols of cryptocurrency—a cryptofascist currency, an evil twin entered into the ledgers on Opposite Day, expressly designed to deny its users the basic ownership of their money and to install the State at the mediating center of every transaction. "

Snowden, values ​​privacy across the board, including financially, which is why the idea of an 'official state ledger' that can be continuously scrutinized and eternally reviewed alarms him.

Where Things Stand Now...

The 'Digital Yuan' which is the CBDC to be issued by the Central Bank of China in the 'advanced stage' of testing - total anonymity is not possible and the Government decides who can have permission to access the centralized database in which transactions are recorded.

Both the United States and European Union say they're in the process of evaluating the benefits of issuing their own CBDC's, the 'digital dollar' and 'digital euro'.

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Author: Mark Pippen
London News Desk / Breaking Crypto News



Official US Government-Issued Cryptocurrency Now Has REAL Potential, As All-star List Of Regulatory Vets Voice Their Support...


The group pushing to make it happen is called 'The Digital Dollar Group' and includes a list of people with so much insight and experience in the role of 'regulator' that brushing what they have to say is becoming increasingly hard for lawmakers. 

Headed by former CFTC Chair Giancarlo, along with a dream team of powerful allies no on board such as Sharon Bowen, former commissioner of the Commodity and Futures Trading Commission (CFTC). Sigal Mandelkar, former undersecretary for the Treasury for Terrorism and Financial Intelligence; Tim Morrison, who served as an adviser for U.S. President Donald Trump; and Sheila Warren, who leads the World Economic Forum’s (WEF).

The above video features some of them explaining why they believe it would be beneficial to the economy. 

Video courtesy of Yahoo News