The news of central bank digital currency (CBDC) has been gaining traction recently as countries around the world look for ways to streamline their financial systems. While the concept of CBDC has its advantages, privacy and freedom rights should be a major concern for all citizens. One of the key concerns that have been raised is the potential for CBDC to be used to monitor citizens’ financial activity. Before CBDC is implemented, governments must ensure that citizens’ privacy and freedom rights are protected. Otherwise, the potential benefits of CBDC could be overshadowed by its potential harms.

Source: National Post January 08, 2023 08:15 UTC