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Cardano Creator Charles Hoskinson Says CBDC Fears Are Justified, Warns They Could Be Seized by the Government

source-logo  dailyhodl.com 26 May 2023 22:20, UTC

The co-founder of smart contract platform Cardano (ADA) says that fears surrounding central bank digital currencies (CBDCs) are justified as governments could one day seize them.

In a new video update, Charles Hoskinson warns that CBDCs are setting up the stage for the government to control people’s speech and thoughts by connecting them to their financial freedom.

“I don’t want to live in a world where we’re heading. CBDCs connected to bizarro mandates where if you piss off a decision-maker, your money just arbitrarily gets turned off. Or you’re told you can’t buy a certain product.

You’re told your credit card just gets denied the minute you do something the government doesn’t like. Your speech, thoughts and philosophy are connected now to your wallet. And if you piss somebody off because you voted for the wrong person or believed in the wrong thing, you no longer have money.”

Hoskinson goes on to say that CDBCs can be used to control billions of people, an idea that started with the World Economic Forum (WEF) and eventually made its way to central banks.

“That is what CBDCs are giving the world. Social credit and CBDCs can and will be combined at a scale of billions of people.

It’s not an academic exercise, it’s an active discussion that started at [the] WEF and other places, and now it’s working its way into the central banks of the world with China leading the way with their digital currency, which already is in the hands of hundreds of millions of people through partners like Tencent.

And this is where it’s going.”

Generated Image: Midjourney