Disadvantages of Central Bank Digital Currencies for UK citizens&DATA PROTECTION

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Disadvantages of Central Bank Digital Currencies for UK citizens&DATA PROTECTION

Petition Details

As UK citizens we should be concerned about Central Bank Digital Currency. Traceability: where physical cash is eliminated entirely this eliminates our ability to transact in a fully anonymous manner. No option for physical cash this gives central banks ability to implement negative interest rates.

Additional Information

CBDCs make money “programmable”. I.E. Expiration, CBDCs could permit a currency expiration policy. Money could be programmed so the £XYZ in your account can expire.
With a bank of Big Data on individual spending habits, coupled with digital identification infrastructure, the central bank will have enough information to tailor its monetary policy personally. I.E. if it is known that lower earners have a higher propensity to consume, stimulus can be directed, it IS a divisive GLOBALISTS TOOL

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