In my opinion there is no going back. nothing is going to stop the transformation of the dollar into a centralized cryptocurrency or CBDC just like the Chinese Yuan. However what is not clear to me is whether the FED will allow the Government to take control of this currency or on the contrary will go ahead and put in place or test its project called FEDcoin.

In any case BCDCs are something other than fiat money 2.0, in that while it ceases to have a physical presence in cash and will be distributed in Blockchaim there will no longer be a central power issuing worthless money. The scary thing about the incursion of fiat money into the crypto world is is the tremendous social control that this central power will have over its population.

That is, in the name of security a small but powerful group of people will have access to your financial information, will be able to decide your economic destiny, erase you from the financial world if you do not do as they tell you, in short, it is the main tool of a terrifying Orwellian world.

Decentralized cryptocurrencies will be our only protective shield against this Ponzi scheme applied by the powerful against the rest of humanity.

Posted Using LeoFinance ^Beta