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Crypto Industry Leader Thinks CBDCs Threaten Financial Checks And Balances
Summary: The co-founder of Decred — a digital currency — thinks that Central Bank Digital Currencies will allow central banks to favor certain users, he told Cointelegraph in a recent interview. Jake Yocom-Piatt first outlined that the current banking system prevents central banks from issuing loans directly to companies or industries. Central banks must go through commercial banks, ...
The co-founder of Decred — a digital currency — thinks that Central Bank Digital Currencies will allow central banks to favor certain users, he told Cointelegraph in a recent interview.
Jake Yocom-Piatt first outlined that the current banking system prevents central banks from issuing loans directly to companies or industries. Central banks must go through commercial banks, which allows for greater accountability. A CBDC would eliminate this step.
He added that with a CBDC central banks could hide their actions while gathering more data on individuals.
By Emily Mason
Tags: CBDC,Decred
Link: Crypto Industry Leader Thinks CBDCs Threaten Financial Checks And Balances [Copy]
