Dan Tapiero on the Inevitability of Central Bank Digital Currencies

Central banks are gearing up towards issuing their own digital currencies. At the end of May, the Central Bank of Brazil selected 14 partner institutions to pilot its central bank digital currency (CBDC), while China and India are also undertaking their own trials.

However, advocates of decentralised finance (de-fi) fear the implications of CBDCs. Making the case for the value of bitcoin on a recent episode of Opto Sessions, Michael Venuto explained how CBDCs could be used “as a weapon against you” by governments seeking to centralise control.