I was invited to join a discussion panel at the Blockchain EXPO – Europe on November 24th. We discussed “Cryptocurrencies and CBDCs – the differences, the similarities, and the potential benefits”.

We touched on such topics as:

• Why should fiat currency be digitalized?
• Centralization within decentralization – have we come full circle?
• Pivotal regulatory landmarks and their knock-on effects
• Does CBDC adoption defeat the crypto stigma?

My thesis, in general, was simple: CBDCs will be a disaster from a privacy and inclusivity perspective. It will be antithetical to the cypherpunks’ original vision of a free market based monetary system and their desire for individual liberty. Central banks will use their respective digital currencies to gain more control over the financial system, which requires a centralized setup of their CBDC informational infrastructure.