Interested in "Central Bank Digital Currency?"

(the system which is in preparation worldwide and which will certainly be applied in a year or two, without any doubt whatsoever.)

If you are really interested, and you have a half hour free to read it, then this competent, scholarly but clear article is well worth your time.

Prepare to be shaken by the future that is being shaped for you

https://www.ukcolumn.org/article/contexts-for-central-bank-digital-currency

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ArishMell · 70-79, M

I can understand an international arrangement to facilitate normal bank transfers from country to country; which in a practical sense are largely digital now anyway.

However, such a scheme might be advantageous if it removes using any single nation's currency (such as the US Dollar, the Euro, Pound or Yen) as the reference level; but also, hopefully, if it can be used to end the currently unofficial, unregulated, insecure, fraud-ridden world of so-called Cryptocurrency. If so, that would not be before time.

Already the banks are becoming very wary of customers transferring money to or from schemes like Bitcoin; placing transaction limits or even preventing them, before yet more become victims of the shady "cryptocurrency" entities.

That caution by banks, and perhaps the cryptocurrency "traders" themselves, might be the source of the scares about governments wanting to control personal finances (beyond national taxes and benefits, of course).