CBDCs بینک اکاؤنٹس سے بھی بدتر ہیں: ایڈم بیک آف بلاک اسٹریم

CBDCs are worse than bank accounts according to the CEO of Blockstream Adam Back since they are becoming a global fad with the regulators so let’s read more today in our تازہ ترین cryptocurrency خبریں.

Most industry experts believe the products will prove to be the right recipe for government control. One such is the BTC proponent and Blockstream CEO Adam Back who said that CBDCs are worse than Bank accounts and he vouched for BTC as an apolitical and unseizable money arguing that CBDCs are systems of control. Back added that the digitized version of fiat will be worse than paper cash and worse than stablecoin but also worse than Bitcoin. This is not the first time that the cypherpunk noted that the BTC features make it superior to current projects under development. In 2019, Back had said Diem can act as competition for online banking but poses no real threat to BTC.

The latest comment came in the backdrop of the former Blockstream chief strategy officer Samson Mow’s discussion on CBDC at the Asian Leadership Conference and Mow opined that the motivation with CBDCs is not to facilitate the transactions confidentially. He outlined the need to go back to apolitical money and the best way the exec thinking it will be a right move forward by adopting BTC as money similar to countries like El Salvador:

"مرکزی بینک اسے صحیح طریقے سے کر سکتے ہیں اگر انہوں نے CBDC کو لاگو کیا جو نجی تھا اور اس کے پاس خفیہ طور پر لین دین کرنے کا طریقہ تھا۔ لیکن یہ سی بی ڈی سی کا محرک نہیں ہے۔ یہاں تک کہ کینیڈا میں، بینک جس نے (جاری کی) نوکری کی پوسٹنگ ایک سسٹم بنانے کے لیے انجینئرز کی تلاش میں، اور خلاصہ یہ تھا - ہم ایک مرکزی بینک ڈیجیٹل کرنسی چاہتے ہیں جو نجی ہو، لیکن زیادہ نجی نہ ہو۔ لہذا میں اسے صحیح طریقے سے ہوتا ہوا نہیں دیکھ سکتا۔

China has been in the center of the CBDC area and has about 250 million registered wallets using the Yuan digital version. Other countries like Japan, India, and South Korea are leading the pilot testings. The US and UK but also Mexico were dragging their feet behind and are stuck in the research stage. It is important to note that Russia’s invasion of Ukraine fueled the interest regards to the wholesale bank-to-bank CBDCS in countries that are not progressing. Banking sanction was also a catalyst however not everyone believes a CBDC can come from central banks. Philip Lowe as the Governor of the آسٹریلیا کے ریزرو بینک vouched for these tokens issued by private companies because they are great at innovating and can offer more benefits than the ones by central banks.