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On Wednesday, the Florida State Senate passed a bill to ban CBDCs in the state.
CBDCs – Central Bank Government Currencies – are never to be confused with decentralized cryptocurrencies like Bitcoin and other – though there had been an attempt by “trustworthy” mainstream media in the past – and certainly some authorities – to conflate the two.
And while a true crypto currency depends on peer-to-peer interactions – CBDCs are just digital versions of fiat money, backed by governments – but thanks to the tech involved, with so much more ability to trace and track people using their money.But the key difference is that cryptocurrencies’ very purpose is to bypass control of central banks and create a decentralized money system – while CBDCs are just as the name says. More […]
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