Welcome to the Wisdom Sessions - free form conversations and monologues created on Wisdom, a social audio platform and app.(https://joinwisdom.audio/theintrovertediconoclast)
In this episode, I explore the intriguing, albeit ominous, topic of CBDCs (Central Bank Digital Currencies). This "centralized" digital monetary system, that promises to be an efficient and accurate replacement for fiat currencies, also introduces a slew of more insidious implications. Everything from granular tracking to programmable expiration, this fundamental shift could be a catalyst for a universal basic income (UBI) introduction and perhaps even the baseline for a social credit system akin to what we see in play in China today.
And don’t get me started on the cybersecurity risks – they’ve taken “decentralized” out of the recipe potentially rendering it even more susceptible to hackers than even our current system.