Epoch Insight Magazine - Digital Currency (Week 5)
Digital Dollars: A convenience or a Threat?
As the Federal Government works to create a central bank digital currency (CBDC), alarm bells are ringing for those who predict the system would impinge on Americans' privacy.
A federally controlled digital currency would directly link the government to individual citizens, without the buffer of a bank. Every digital dollar spent could be tracked by the government.
A CBDC can discourage purchases the government doesn't like by imposing surcharges, or shutting off access to money altogether, Epoch Insight reporter Kevin Stocklin reports.
Read Epoch Insight's in-depth report to find out more about the reality of a federal digital currency and how far along it really is.