Niko LaamanenFounder, Publisher at Konsensus Network

The #Impact of #CBDCs on #Confiscation: Is Your #Money at #Risk, #bitcoin #fiction #storytelling

25 Mar 2024 · 1 min

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In this commentary, the speaker argues that central bank digital currencies (CBDCs) could become a more efficient mechanism for government confiscation of funds. He cites historical confiscation events in Brazil and Argentina during the 2001 Corralito/Collor Plan as precedents, suggesting that while such risks have been viewed as a problem for the Global South, the adoption of CBDCs could extend these confiscation threats to developed nations as well.

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TranscriptAuto-generated · 1 min

And I think with the CBDCs, this reality of confiscations, maybe it'll be closer on developed countries because the CBDCs is a more efficient method of confiscation than we had in Brazil, than we had in Argentina in 2001 with the Corralito. That was their confiscation, their version of the Collor Plan. So the CBDCs bring this fear that, that for many people seems like a global south issue, but the CBDCs bring this problem to the developing world.

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