This short video was taken from Andreas’ April 2023 Q&A for patrons, in response to a question about the effects of CBDCs on privacy and the freedoms promised by open finance tools, like bitcoin.
Today, we’re stepping into the world of Central Bank Digital Currencies (CBDCs). Unlike decentralized cryptocurrencies like Bitcoin, CBDCs are centrally controlled, and they come with strings attached. They will be used to implement anti-money laundering controls. But these controls aren’t about stopping big players from making controversial purchases – they’re more likely to prevent everyday folks like us from buying Bitcoin.
But CBDCs are more than just digital money. They’re an integrated system of command, control, and surveillance. Money has traditionally been seen as a means of exchange, a store of value, and a unit of account, but with CBDCs, we see the emergence of a fourth aspect – money as a means of control. This shift could have significant implications, marking a kind of ‘Nirvana’ or dystopian end, depending on how you see it, in the evolution of money.
If you’d like to learn more about this topic, take a look at a longer talk from Andreas entitled: Money as a System of Control: https://youtu.be/FyK4P7ZdOK8 This talk is featured in The Internet of Money volume 3, which can be purchased in multiple languages in paperback, ebook, or audiobook: https://aantonop.com
If you’d like to support this work, we invite you to join us at https://www.patreon.com/aantonop
COMMENT below and let us know what you think of the video. Post your follow-up questions there too!
SUBSCRIBE to this YouTube channel and select the bell 🔔 for notifications: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ?sub_confirmation=1
JOIN this YouTube channel to become a YouTube Community Member and access custom emoji and other perks: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ/join
BECOME a Community Builder: https://patreon.com/aantonop
LEARN from Andreas in one of his popular Workshops which will teach you practical crypto skills. There’s even a FREE Intro to Bitcoin & Open Blockchains to get you started. https://aantonop.io/takeaworkshop
You can also learn from one of aantonop’s many books. Andreas has written three technical books for developers about blockchain technology, Mastering Bitcoin, Mastering Ethereum, and Mastering the Lightning Network published by O’Reilly Media. He’s also written The Internet of Money Series books, which explain why bitcoin, ethereum, and open blockchains matter.
About aantonop: Andreas isn’t promoting a company or an organization; he’s paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved. Learn more at https://aantonop.com
From Andreas: You may already know that my mission is to educate as many people as possible about #Bitcoin and open blockchain technologies. Watching these videos and sharing them with others is a big part of that. Thank you for being part of this mission.
***Learn More From Andreas’ Workshops, Books & Events**
Amazon & Kindle: http://www.amazon.com/-/e/B00MVAG8Z8
E-books & Merch: https://aantonop.io/shop
***Connect with Andreas on Socials***
Thanks for watching, sharing, and subscribing!