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I'm sure customers will experience a whole new UX when they have to pay with a CBDC. (See picture below 👇🏻)
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“Expiring ❗️ money, one whose value falls to zero after a specific date, is a potential monetary policy tool . “Programmability,” a technical feature made possible by digitalization, can accelerate decisions to spend it, making it a very effective means for stimulating consumption.” Ahmed Faragallah, Senior Financial Sector Specialist, World Bank
“Expiring money (Part I), NOVEMBER 02, 2022” World Bank
https://blogs.worldbank.org/allaboutfinance/expiring-money-part-i
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“The central bank will have absolute ❗️ control on the rules and regulations that we determine... and we have the technology to enforce that.” -Agustín Carstens, General Manager of BIS on CBDC. Agustín Carstens: A Vision For The Future 19/10/2020
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"Integrate with national ID ❗️ system" CBDC Design by BIS; BIS Papers 14 April 2022 https://www.bis.org/publ/bppdf/bispap123.htm
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"Overview of benefits ❗️ that some have associated with CBDC, and related factors or requirements"
➥ Requires (i) discontinuation ❗️ of banknotes (or at least of larger denominations); (ii) CBDC to not take the form of anonymous token money
➥ Allows overcoming the ZLB as negative ❗️ interest rates can be applied to CBDC
"Tiered CBDC and the financial system"
Ulrich Bindseil Working Paper Series
Jan 2020, ECB https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2351~c8c18bbd60.en.pdf
#centralbankdigitalcurrency #surveillancesystem #control #dystopia
Opt out. Learn #bitcoin 🧡
