According to British TV presenter Maajid Nawaz, states that launch their own digital currencies are striving to increase control over money circulation.
A recent episode of the Joe Rogan Experience podcast featured British TV presenter Maajid Nawaz and shared his thoughts on Central Bank Digital Currency (CBDC). One of the reasons why many countries have initiated the development of their own digital currencies, Nawaz considers the possibility of control. The digital currency of the Central Bank is controlled and managed in real time, which allows states to track payments faster and fight economic crimes.
“They want to replace fiat paper money with digital money to compete with bitcoin and other cryptocurrencies. But no one is going to make them decentralized, they will be controlled by the government,” says Nawaz.
The TV presenter believes that in this way the government will be able to see all the income and spending of the population, which sounds like a conspiracy theory. However, in June last year, Bank of England director Tom Matton spoke out about the Central Bank’s digital currency, saying that such money could be quite useful in preventing “socially harmful” activities. He also noted that this may be considered a restriction of the freedoms of citizens.
Recall that earlier the Economic Committee of the House of Lords of the British Parliament opposed the digital currency of the Central Bank, saying that its launch would bring many problems to the country’s economy.
Source: Bits
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