@xuanling11 22 November 2021 more from that month

CBDCs' Flaw Design

The world economic forum reveals that the dangers of foreign control of CBDCs will put the issue nation at a disadvantage position. CBDCs are designed only for trade within the nation. **CBDCs cross-border transaction** It turns out that CBDCs can only survive within the domestic. If CBDCs trade over borders, it will create a spillover effect.  **CBDCs designed to have a greater control** The way CBDCs are designed is to greater control of the financial system and automatically surveillance citizens’ financial data. The cross-border transaction requires data sharing a.k.a. spillover effect. It is the opposite of the control but making private data available for other countries to grab. **CBDCs will create a world government** In order for CBDCs to work, you need a global governing body to oversee the world citizens’ data. It will create an ever-powerful governing body in human history to dominate the world.  **No country wants any other county to be dominated in the world** The problem is that no other country will let another country control their data or dominate them. Sharing citizens’ data to other countries expose a national security concern.  **Just use cryptocurrency** It is no brainer that cryptocurrency is a viable solution. Only because the central banks do not want to use does not mean you cannot use it. Cryptocurrency is access to all and apolitical digital currency. **In conclusion** CBDCs will never go global while cryptocurrency is a global digital currency.