CBDCs Will Be the End of American Freedom | Opinion

CBDCs Will Be the End of American Freedom | Opinion

If the Federal Reserve adopts a central bank digital dollar, the American government will be on a surefire path to authoritarianism.

Central bank digital currencies, or CBDCs, have caught the Fed's attention in recent months as the agency explores developing a digital dollar based on the blockchain, fueled by the meteoric rise in popularity of cryptocurrencies like Bitcoin. While some compare CBDCs with Bitcoin as CBDCs can be based on the blockchain, similarities between the two end there. In fact, CBDCs are a wolf in sheep's clothing, co-opting Bitcoin's appeal while undermining every one of its underlying principles.