You might think that I am crazy, but listen to me first. (And you are probably right, I am a tad bit crazy.)
First of all, what are CBDCs? CBDCs are government backed digital currencies that are managed on a digital ledger (blockchain). So imagine printing the US dollar but digitally (trees can finally take a break). The issue is that CBDCs are completely against the idea of what cryptocurrency’s ethos, which is remove the central authority.
Without removing the central authority, these digital currencies make the government’s control over your freedom… worse (being generous here).
The good part is that when CBDCs launch eventually, this would be the biggest advertisement that blockchain has EVER gotten; and as we all know there is no such thing as bad publicity.
CBDCs are inherently a control of people’s freedom, what they can spend on, how much they can send and who they send to. Blockchain and cryptocurrency solves this problem. People still do not realize that though, and still do not inherently understand what blockchain has to offer. With CBDCs launching, you cannot state that blockchain has no real use case anymore, especially the government if they are cloning what a blockchain does but making it private. The faster this happens, the faster the worldwide adoption of cryptocurrency occurs. All my bets are on this scenario happening. This is why I am so excited for CBDCs to roll out.
Nobody cares about the structure of the building and first aid kits before an earthquake hits, only after.
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