TL;DR
- Charles Hoskinson warns of the increasing influence and danger of CBDCs for decentralization and financial privacy.
- Charles highlights the importance of cryptocurrencies in governmental and corporate accountability, calling on the community to focus on its fundamental purpose.
- Robert Kiyosaki also warns of their use as tools for mass surveillance by central banks.
Cardano’s founder, Charles Hoskinson, has issued a warning about CBDCs, concerned about their growing influence and the danger they pose to decentralization and financial privacy. Recently, Charles emphasized the importance of cryptocurrencies in maintaining governmental and corporate accountability.
Hoskinson stressed that the community should focus on the fundamental purpose of cryptocurrencies: creating a new paradigm of accountability for authorities, instead of getting sidetracked by minor debates such as taxes and regulations. He warned that ignoring the growth of cryptocurrencies could lead to CBDCs becoming dominant, increasing government surveillance over citizens and limiting their financial privacy and freedom.
Reading is Hard https://t.co/6VldHVsauN
— Charles Hoskinson (@IOHK_Charles) May 11, 2024
Robert Kiyosaki, author of “Rich Dad Poor Dad,” has also warned about CBDCs and their potential for use as tools for mass surveillance by central banks. In response, Kiyosaki has increased his investments in Bitcoin and silver, seeking to protect against potential intrusions into his financial privacy.
Hoskinson Sees the Imminent Danger of CBDCs
CBDCs are essentially digital versions of national currencies, designed to supposedly streamline transactions and improve security. Currently, numerous economies worldwide are exploring or implementing them, with 68 countries involved in advanced stages of projects, including pilot tests in nations like Brazil, Japan, and India.
It is necessary to heed the warnings of figures like Charles Hoskinson and Robert Kiyosaki and begin to shift the focus of debates. In the short term, we could face a tightening of government controls over the crypto industry. Above all, it is essential to maintain financial freedom as a cornerstone of the crypto community. As cryptocurrencies continue to gain greater adoption globally, governments around the world are beginning to plan how to get their hands on citizens’ wallets.
