CBDC is a perversion of cryptocurrency
CBDC is a perversion of cryptocurrency
The notorious US Whistleblower-Edward Snowden-criticized the possible effects of CBDC on the financial network. He described them as the "perversion of cryptocurrency" and as "cryptofaschistic currency", since they could give governments a lot and leave less freedom to people.
CBDC - "A cryptofascist currency"
The computer programmer who worked as a subcontractor for the National Security Agency (NSA) - Edward Snowden - strongly rejected the potential applications of digital central bank currencies. In a recently Name "Your money and your life" he opposed the representation of will be digital dollars and explained:
"I will tell you what a CBDC is not - it is not how Wikipedia could tell you a digital dollar. After all, most dollars are already digital and do not exist as something that is folded in your wallet, but as an entry in the database of a bank, requested faithfully and reproduced under the glass of your phone."
Next snowed explains the main disadvantages of digital central bank currencies:
"A CBDC is a perversion of cryptocurrency or at least the basic principles and protocols of cryptocurrency - a cryptofascist currency."
he added that the introduction of the financial instrument would "focus on the focus of every transaction", which means less money from the general population and thus less freedom.
as an example of his statement Wies Snowden in China. Since the to all crypto is supposed to be released. Digital-Yuan "increase the ability of the state to assert itself in the middle of every last transaction".
Snowden and BTC
The 38-year-old American, who now lives in Russia due to his problems with the US government, has been both critics and admirers of the leading cryptocurrency over the years
he interacted with Bitcoin after he had embezzled numerous secret documents from the National Security Agency, such as evidence of mass monitoring by the government, espionage, computer chopping and listening to telephone. Snowden admitted that he used BTC to help him reveal the stolen information:
"The servers I used to send this information to journalists were paid with Bitcoin."
in March of this year, Snowden that the operating structure of the digital assets has many disadvantages, in particular, in particular When it comes to "financial privacy":
"Bitcoin is shit in many ways, for example with regard to financial privacy."
Last week, however, he praised Bitcoin's stability and said that the Chinese ban only reinforced it. Therefore, he joined the party of the people who believe that the hard attitude towards crypto in the most populous country is a great opportunity for BTC's further progress.
Selected image with the friendly approval of politico
.