- The International Monetary Fund (IMF) has called on governments around the world to eliminate physical cash and replace their sovereign currencies with a single Central Bank Digital Currency (CBDC).
- A CBDC is a form of “digital money” that is managed by the government and central bank bureaucrats. The main difference between a CBDC and traditional cash is that “digital dollars” can be tracked and controlled by the government.
- Such a system allows for the external monitoring of an individual’s spending, with the central bank being able to place limits and blocks on the use of the person’s funds.
Trending
IMF Pushing Governments To Ditch Cash, Use Government-Monitored CBDCs
