National Digital Currencies: The Future of Money?
What is a Central Bank Digital Currency?
But I haven't used cash in months. Isn't my money already digital?
How is this different from bitcoin?
Why might a country want a national digital currency?
What are the risks?
What are the geopolitical implications?
Illicit activities: Most digital currency transactions are unlikely to be anonymous, but U.S. authorities would need to coordinate with the Chinese government, Facebook officials, or other currency operators to gather information on illicit transactions.
Data privacy: Digital currencies will ultimately generate a lot of data on how individuals spend their money, raising concerns about surveillance, data manipulation, and other privacy breaches.
Data security: Digital currencies face security vulnerabilities like any other technology. Cyberattacks and security breaches could lead to stolen currency and personal data, and even bring economic activity to a standstill.