The Future of Crypto
Here’s the Real Enemy of Crypto
No, it’s not fiat currency or gold. Nor is it Elon Musk. It’s far worse.
CBDCs are the real enemy of crypto. A direct threat to the independence of our digital assets, the blockchain, and what we love about web3.
The most alarming news to make the rounds lately, according to a report by the Bank of International Settlements, is that 90% of central banks have created or are currently developing CBDCs.
By 2025, we could see more than 73 countries with a digital national currency accepted as legal tender for goods, services, taxes, and for the repayment of debts.
If it wasn’t obvious by now, nations are tightening their grip around the throat of cryptocurrency. And they are doing this by passing laws, regulations, monetary policies, and now CBDCs.
But to understand how CBDCs are a threat to the broader crypto community, we’ll need to first take a peek at what they are and how they function.
What are CBDCs?
CBDC stands for Central Bank Digital Currency, which is a digital token much like a cryptocurrency.
Fundamentally, CBDCs differ from cryptos like Bitcoin and Ethereum.
