If you have been hearing the word “cryptocurrency” recently, but don’t really know what it means, you are not alone. But, one Hoosier leader says it is a dangerous tool.
Essentially, cryptocurrency – or crypto – is a form of payment that is commonly used online. Independent companies or groups keep records of its use, as compared to banks or other, more traditional institutions.
Now, there is talk that a central bank digital currency could be used in the United States. This is a type of crypto whose records of use would be maintained by a single entity, instead of various individual banks.
Because of this, Senator Mike Braun expressed his concerns to Fox Business Wednesday. He said this nationwide digital currency would be the “ultimate surveillance tool.”
He noted that its implementation would allow the U.S. government widespread access to financial records. More than that, he argued that it is not yet clear if digital currency would be a stable “medium of exchange.”
Learn more about the central bank digital currency conversation in the U.S. here.
2 comments
That’s it? Instil a type of fear into people? The future should not be feared. The past will never better then the present or the future. Read more books and take the time to understand, not only the world we all live in but what else is in the world. Living in fear is not the answer. So, unless you’re a criminal drug lord gun runner, CRYPTO and/or CBDC is not something to be feared. Because, YES, your “purchases” and/or interactions can be “found-out”, but it takes a bit of work to do that…… again…. PLEASE read more books!
Central banking is one step closer to central governance…a short step. I prefer a constitutional republic to one world governance that is not said constitutional republic.
Also, I read a lot, have thousands of books, buy more every week…Osbert should be more coherent.