this post was submitted on 24 Jul 2024
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Cashless money society, forced banking ๐Ÿ’ณ, and the War on Cash ๐Ÿ’ฐ

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In many regions people are being forced to patronize banks. This community is for that discussion regardless of which side of the war on cash you are on.

The war on cash is war on privacy. (indeed the mod is biased)

related communities (decentralized only)

closely related:
โ˜  !cashless_society@nano.garden (ghost node) โ† only reachable from instances that federated to that community before nano.garden disappeared

loosely related:
!offgrid@slrpnk.net
!climate_action_individual@slrpnk.net
!fightforprivacy@feddit.ch
!personalfinance@sopuli.xyz
!right_to_unplug@sopuli.xyz

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What Is a Central Bank Digital Currency (CBDC)? (www.investopedia.com)
submitted 2 years ago* (last edited 2 years ago) by solo@slrpnk.net to c/cash@slrpnk.net
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A central bank digital currency (CBDC) is a form of digital currency issued by a country's central bank. It is similar to cryptocurrencies, except that its value is fixed by the central bank and is equivalent to the country's fiat* currency.

Many countries are developing CBDCs, and some have even implemented them. Because so many countries are researching ways to transition to digital currencies, it's important to understand what CBDCs are and what they mean for society.

*Most modern paper currencies are fiat currencies [for details here]

Note: I do not agree with how CBDCs are portrayed here, because it is actually the institutional point of view. Still, I think this article makes it easy to get a first glance on this topic.

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