Last year social media giant Facebook put the world’s central banks into a panic with its crypto currency ambitions. This year they are scrambling to launch their own digital currencies but competition could lead to a crypto cold war.
Central banks have upped their game in the race to develop the world’s first CBDC. China, which has a long history of weaponizing its currency, is currently leading the way but its motives may be a little more sinister as such a currency will give the regime unprecedented levels of mass surveillance.
Governments appear to be heading towards the nationalization of their currencies and consumer payment systems according to Mastercard CEO Ajay Banga. The credit giant pulled out of Facebook’s Libra project due to data integrity and compliance concerns, as well as confusion on how…
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