The Dangers of CBDC
Central Bank Digital Currency T-Shirt Besides an interest in art and design, I also have an interest in monetary economics. I saw the below image on X and I also saw a video with George Gammon, where he wears a CBDC shirt. So I thought to give it my own spin. In case you are not yet aware of what CBDCs are, let me give you the rundown in this article. What is CBDC CBDC stands for Central Bank Digital Currency, a digital form of a country's fiat currency issued by its central bank. Unlike cryptocurrencies like Bitcoin, CBDC is centralized and regulated by the government. It operates on a blockchain or distributed ledger technology, enabling secure and transparent transactions. CBDCs come in two primary forms: wholesale and retail. Wholesale CBDC is used between financial institutions for interbank transactions, enhancing efficiency and settlement speed. Retail CBDC, on the other hand, is accessible to the general public for everyday transactions, offering a digital alternative to ph...