<story><title>Just Say No to Central Bank Digital Currencies</title><url>https://theupheaval.substack.com/p/just-say-no-to-cbdcs</url></story><parent_chain><item><author>csense</author><text>Some predictions:&lt;p&gt;- The government&amp;#x27;s not going to have an official true cryptocurrency where anyone with a computer and an Internet connection can just generate a private key and anonymously send &amp;#x2F; receive coins.&lt;p&gt;- The system won&amp;#x27;t allow an address to send &amp;#x2F; receive coins without approval from a government key, and that approval will only be given if the government&amp;#x27;s gotten a name &amp;#x2F; SSN &amp;#x2F; real-life identity to associate with that address.&lt;p&gt;- The system will provide a function where a government-controlled key can freeze any address&amp;#x27;s ability to send or receive funds.&lt;p&gt;- The government&amp;#x27;s going to say &amp;quot;But we need to take a stand against terrorists &amp;#x2F; Russian oligarchs &amp;#x2F; drug kingpins&amp;quot; and then it ends up being used against successively lower and lower degrees of criminals, such as money launderers &amp;#x2F; tax dodgers &amp;#x2F; deadbeat dads &amp;#x2F; unpaid parking tickets, and eventually ends up targeting ordinary citizens.</text></item></parent_chain><comment><author>skocznymroczny</author><text>&amp;gt;  such as money launderers &amp;#x2F; tax dodgers &amp;#x2F; deadbeat dads &amp;#x2F; unpaid parking tickets, and eventually ends up targeting ordinary citizens.&lt;p&gt;we already got a tease in Canada of what is to come.</text></comment>
<story><title>Just Say No to Central Bank Digital Currencies</title><url>https://theupheaval.substack.com/p/just-say-no-to-cbdcs</url></story><parent_chain><item><author>csense</author><text>Some predictions:&lt;p&gt;- The government&amp;#x27;s not going to have an official true cryptocurrency where anyone with a computer and an Internet connection can just generate a private key and anonymously send &amp;#x2F; receive coins.&lt;p&gt;- The system won&amp;#x27;t allow an address to send &amp;#x2F; receive coins without approval from a government key, and that approval will only be given if the government&amp;#x27;s gotten a name &amp;#x2F; SSN &amp;#x2F; real-life identity to associate with that address.&lt;p&gt;- The system will provide a function where a government-controlled key can freeze any address&amp;#x27;s ability to send or receive funds.&lt;p&gt;- The government&amp;#x27;s going to say &amp;quot;But we need to take a stand against terrorists &amp;#x2F; Russian oligarchs &amp;#x2F; drug kingpins&amp;quot; and then it ends up being used against successively lower and lower degrees of criminals, such as money launderers &amp;#x2F; tax dodgers &amp;#x2F; deadbeat dads &amp;#x2F; unpaid parking tickets, and eventually ends up targeting ordinary citizens.</text></item></parent_chain><comment><author>anm89</author><text>CBDCs have zero intrinsic link to crypto. They are digital in the same way your credit card is digital which is to say they use servers that run on a computer which access a database.&lt;p&gt;You could implement a block chain somewhere in there but it&amp;#x27;s not really clear what a central bank would gain from that. They have central in the name. They aren&amp;#x27;t interested in decentralizing</text></comment>