In our current financial world, the euro, the dollar and the Swiss franc that we know are a product of banks. They are created through lending and other banking activities. In contrast, the digital central bank euro is an artificial, centralized, and fully regulated currency that can be manipulated by the central bank at will.
Digital central bank money could undermine the separation of powers of any democracy and transform it into a system where a small group has power over our money.
With CBDCs, all your financial activities could be monitored down to the smallest detail. It would be the end of financial anonymity. Whether you buy a coffee or donate money to a political cause, the central bank and possibly other government agencies could track your every move.
Even scarier, with the implementation of CBDCs, there is the possibility of fines being deducted directly from your account or even your account being frozen. Think of the introduction of social credit systems, where your financial freedom is made dependent on your social or political behavior. If you demonstrate against the government or express critical opinions online, you could be directly and immediately punished financially.
If control over money is centralized, where does that leave the free market? Companies could be forced to follow certain standards and regulations that are not necessarily in the best interest of the public, but serve political or ideological goals. Competition, a cornerstone of our market economy, could suffer as a result.
In my just published novel "2024 ", so to speak the continuation of "1984", this threatening vision is further elaborated. It is a world in which every citizen is under constant surveillance. A world where financial independence is a forgotten concept and where your spending, donations and investments are constantly judged and evaluated. A system where the freedom to spend money as you wish is subject to conditions set by a small elite. A world in which the main character, who by the way is the son of the main character from "1984" and experiences first hand the horror his father suffered, in this world a small group establishes totalitarian control and surveillance.
The technologies and methods in my novel, which I have titled "2024," are not fictional or remote. In this sequel to "1984," the seamless control enabled by digital central bank currencies becomes real.
Winston Smith from "1984" is very aware of the surveillance and starts to become reckless, while his son Winnie in 2024 is completely surprised by the seamless control.
With digital central bank currencies, from "2024" on, surveillance will not be limited to party members as in "1984", but EVERYONE will be monitored.
This seamless control could soon become a reality in our lives. It is up to us to prevent this and not let anyone be surprised by this impending control.
"The digital euro will not develop the necessary social acceptance," the German banking associations wrote in a letter to the Ministry of Finance. That's not a problem, because as long as there are alternative payment options, the digital euro will remain just an alternative path.
But what if politicians shut down or ban all other payment systems? What if cash is phased out and credit cards and PayPal are banned? Then people will use the digital euro because it gains the necessary social acceptance or is forced to be accepted, and the totalitarian control and surveillance state is established!
In this bleak scenario, Bitcoin appears as a glimmer of hope. A decentralized payment system that is not controlled by a central bank or government. It offers financial freedom, privacy and independence at a time when these concepts are under threat.
With Bitcoin, financial transactions are secure and private. There is no central authority that monitors or evaluates your spending. You are not dependent on the favor of a bank or government to conduct transactions. And more importantly, Bitcoin cannot be easily shut down. It is a decentralized network that is powered by thousands of nodes around the world.
But Bitcoin is more than just a digital currency. It is also a movement that stands for financial sovereignty and freedom. In a world where power over money is becoming increasingly centralized, Bitcoin provides a much-needed alternative.
The dangers associated with CBDCs are real and far-reaching. The novel "2024" serves as a cautionary metaphor for what could happen if we go down the path of complete control and surveillance. Bitcoin, in contrast, represents freedom, privacy, and the right to control one's own money.
While CBDCs could lead the world into a dystopian age, Bitcoin offers an alternative that respects and promotes people's freedom and rights. It is a model we should seriously consider if we do not want to find ourselves in a scenario that even George Orwell could not have foreseen.
The new book by Joe Martin will be published on 21.08.2023 and can be pre-ordered now from Copiaro: www.copiaro.de/2024 or from Switzerland via https://dezentralshop.ch/.
Joe Martin is a sought-after author and speaker who can present complex interrelationships in an understandable way. His books, lectures and coaching sessions enable many interested people to understand economics and money, Bitcoin and Blockchain. He is also a sought-after interview partner and speaker and regularly trains companies and banks.
He has advised and trained the first cooperative bank in Europe to allow its customers to use Bitcoin information, purchase Bitcoin, and hold Bitcoin within legal regulations since April 2021. This pioneering work enables banks and businesses to use and understand Bitcoin.
Twitter: https://twitter.com/JoeMartinDE
Disclaimer: The views and information expressed in guest posts should not be interpreted as financial advice. It is important to note that Coinfinity does not necessarily hold the same positions and views as those expressed in the content provided here.
