The Satoshi Revolution – Chapter 3: Do You Want a Government Fiat Crypto? (Part 4)
Satoshi Revolution: A Revolution of Growing Expectations
Section 1: Trustee third party problem
Chapter 3: Trying to cancel Satoshi
By Wendy McLoyey
Do You Want A Fiat Government Encryption? (Chapter 3, Part 4)
It is the ability to earn money without direct taxes from governments which makes modern war possible, and a central bank has become the preferred way of fulfilling it ... [T] There can be no debate about that peace There is no such reason in the time of... so it is not exaggeration to say that the Federal Reserve system encourages war "
The digital currency issued by the central bank (CBDC) is a national currency issued by a central currency, it is crypto counterpart for physical currency, such as the US dollar. It is also a bitter irony that a monetary explosion (crypto) that is weakening the global financial system (central banks) is banished and it is motivated to serve the status quo at least, trying for the status quo is.
The countries are actively investigating the development of the CBDC. Russia is planning to develop cryptologic. Japan wants J. Bank of Canada has published a thirty-page document in favor of its own CBDC. The Federal Reserve finally accepted a crypto-American consideration to accept China, United Kingdom, India ... list of interested countries.
CBDC may seem parallel to the free-market digital currencies,
But they are actually anti-crypto; They are opponents of bitcoin, consider some technical differences:
Bitcoin is decentralized; The CBDC will centralize all aspects of digital currency in the hands of the same agency.
Bitcoin is a co-worker between individuals; CBDC will be created and administered by the government
Bitcoin is open-source; The CBDC will patent, will be exclusive and unknown.
Bitcoin has been mined; The CBDC will be issued by a central bank.
Bitcoin is limited to 21 million coins; The maximum limit of CBDC will be what governments want
Bitcoin is on a transparent block channel; CBDCs can not even use a blockchain
Bitcoin gives individuals the right to private key; Private keys for CBDC will be with the bank, which means that there will be funds
Bitcoin is almost anonymous; The CBDC will track both identities and how the currency is used.
Bitcoin breaks the link between money and central banks; CBDCs Cement It
There are also fundamental disputed targets in CBDC and Free-market crypto. The CBDC is an extraordinary effort of the central banking system, which is a monopoly - its monopoly on maintaining its position as a trusted third party and supplying global currency - which benefits the government, its creditors and the elite. Bitcoin As a trusted third party, the status of central banking system is obsolete.
It is deliberately designed to make Bitcoin capable of owning its own financial system, to control its future