With cash being presented not just as a danger to society and to national security, but also as a direct health hazard due to the coronavirus, the push towards digital alternatives has been massively reinforced over the last few months…It doesn’t require too dark an imagination to realize the gravity of the concerns over the digital yuan.China is a true pioneer when it comes surveillance, censorship and political oppression and the digital age has given an incredibly efficient and effective arsenal to the state. Adding money to that toolkit was a move that was planned for many years and it is abundantly clear how useful a tool it can be for any totalitarian regime. The ability to track citizens’ transactions, access their financial data, control and freeze the account of anyone that presents a potential threat, it all opens the door to the track citizens’ transactions, access their financial data, control and freeze the account over private resources, over people’s livelihoods and their capacity to cover their basic needs…..Read More
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Categories: cashless society, News
