A response to the Bank of England’s consultation papers on a #CBDC for the United Kingdom, the “Digital Pound”.
https://1f52b.xyz/article/2023/06/the-digital-pound-a-new-form-of-money-for-households-and-businesses/
It’s long 😅, so here’s the gist: an #ecash CBDC that’s private and anonymous would actually be worth developing, and have a bunch of benefits — it’d be an uncensorable and dependable fiat payment rail that Bitcoiners and other ‘undesireables’ could use, and maintains public access to central bank money so there is an alternative to having no other option but to use commercial banks and private rails that spy on you and can and do rug people for bullshit reasons.
If you want to address the decline of physical cash, replace it with digital cash.
Any other kind of CBDC sucks, is actively bad, and should not be built.
1f52b / 1F52B
npub1raf…gns2
2023-07-03 17:30:27
Author Public Key
npub1raftzmju5gq77twqxrumv5gnweew2t0p4v5upv8kku4vsz4j8jzq3tgns2Published at
2023-07-03 17:30:27Event JSON
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"content": "A response to the Bank of England’s consultation papers on a #CBDC for the United Kingdom, the “Digital Pound”.\n\nhttps://1f52b.xyz/article/2023/06/the-digital-pound-a-new-form-of-money-for-households-and-businesses/\n\nIt’s long 😅, so here’s the gist: an #ecash CBDC that’s private and anonymous would actually be worth developing, and have a bunch of benefits — it’d be an uncensorable and dependable fiat payment rail that Bitcoiners and other ‘undesireables’ could use, and maintains public access to central bank money so there is an alternative to having no other option but to use commercial banks and private rails that spy on you and can and do rug people for bullshit reasons.\n\nIf you want to address the decline of physical cash, replace it with digital cash.\n\nAny other kind of CBDC sucks, is actively bad, and should not be built.",
"sig": "f126bbd30264cd88a9b207fe4d5f86de411bc42bed386cc93e5abcd3200edb162bb937db9de96ca324e138dcf9b591e7e7561a3563d4ea1cfa978d96dd7c945e"
}