What are CBDC?

Money has always evolved, from shells to beads, and now to digital currencies. But governments aren't ready to let go of their control just yet. Enter Central Bank Digital Currencies (CBDCs), a new breed of digital money that's permissioned, not permissionless like crypto. Governments are embracing CBDCs to retain their authority over money creation and control.

CBDCs offer benefits like efficient social benefit distribution, tax avoidance, and crime prevention. But, they also come with a cost - surveillance. With CBDCs, governments can track every transaction, and force citizens to use them. It's a 360-degree view of your spending habits, and a potential threat to financial privacy.

Crypto, on the other hand, is permission less, decentralized, and transparent. It's a beacon of hope for those who value financial freedom. Will CBDCs suffocate crypto, or will crypto evolve and thrive?