Bitcoin Policy Institute Paper: No to CBDCs

What is happening? This week the Bitcoin Policy Institute released a white paper, Why the U.S. Should Reject Central Bank Digital Currencies.

Why is this important? The rational includes the authoritarian shift in U.S. government moving the U.S. toward Chinese regime. Further saying that “Central bank digital currencies (CBDCs) represent an extension of this state control over economic life.”

How will this be important? The suggested solution:

“Clearly, individuals and organizations need to transact digitally with fiat currencies, and the current global banking system often makes those transactions slow and expensive. To solve this problem, cryptographic stablecoins pegged to fiat currencies and backed 1:1 with hard collateral can be issued by private banks worldwide.”

@TXBitcoinFound