Nicholas Anthony: "Confidential CBDCs are a wolf in sheep's clothing"

Nicholas Anthony has suggested that in the US, users of central bank digital currencies (CBDCs) may find themselves under close surveillance and control by government agencies. He noted that a similar example has already occurred in the history of the United States, and this experience should be considered as a warning for those who are positive about and promoting the launch of a CBDC.

We are talking about a massive surveillance program by the National Security Agency (NSA). For example, when the domestic surveillance system was designed, it was assumed that any information identifying American citizens would be anonymous by default until action was required to prevent or solve a crime. Moreover, the authorities would need a court order for de-anonymization and identification. However, in fact, the country's authorities created one of the largest surveillance systems in US history, which deeply invaded the privacy of Americans.

Nicholas Anthony's opinion is shared by Chris Meserole, director of the Initiative on Artificial Intelligence and Emerging Technologies at the Brookings Institution.

“I'm not worried about the US going down that path immediately. But I am very concerned that once the CBDC is launched, there will be enormous pressure from the authorities to use this system for various security or criminal justice purposes,” says Meserole.

Nicholas Anthony noted that, unfortunately, any CBDC purportedly “privacy-focused” will likely turn out to be little more than a wolf in sheep’s clothing.

He recalled that central bankers, including Federal Reserve Chairman Jerome Powell, Bank of International Settlements CEO Agustín Carstens, European Central Bank President Christine Lagarde and Bank of England Governor Andrew Bailey (Andrew Bailey) have openly and repeatedly stated that anonymity and complete confidentiality will not be an option for a CBDC.

Earlier, Republican member of the US Congress Tom Emmer said that the presidential administration's intention to launch a digital dollar could jeopardize the privacy and freedom of Americans.