World News
See other World News ArticlesTitle: IMF Meeting: CBDC Should Be Tied To Digital IDs To "Push Society Into To New Equilibriums" Massive privacy concerns.
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URL Source: https://reclaimthenet.org/imf-cndcs-tied-digital-ids-push-society
Published: Oct 19, 2022
Author: Mark Elsis
Post Date: 2022-10-19 15:35:18 by Horse
Keywords: None
Views: 37
Governments and financial institutions are increasingly warming to the idea of introducing Central Bank Digital Currencies (CBDCs) - central banks' digital tokens, pegged to a country's fiat money, and controlled and backed by the authorities in ways they never could other money they issue. There's a lot to like about that if you're banks and governments, but opponents of CBDCs keep warning that the same doesn't apply to regular citizens, whose privacy, personal data safety and true ownership of their assets may be better served by decentralized solutions. And while these debates are ongoing, the idea of pairing CBDCs and digital IDs, and if need be, pushing them onto a reluctant population, is something central bankers are now coming up with as well, as evidenced during the 2022 International Monetary Fund (IMF)/World Bank Group (WBG) Annual Meetings. by Didi Rankovic Post Comment Private Reply Ignore Thread
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