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It seems likely that participation in a cbdc will likely require a kyc verification or equivalent real identity to participate as this is how the current system
by happytiger 4y ago
It seems likely that participation in a cbdc will likely require a kyc verification or equivalent real identity to participate as this is how the current system works.
Restrictions would primarily be associated with this account, as well as transactions associated with the graph of related accounts, and associated transactions.
Check out a paper called Money and Payments: The U.S. Dollar in an Age of Digital Transformation from the Board of Governors of the Federal Reserve System. It was released specifically to educate and open a public discussion on these topics and more, and is worth a read.
(Found the link!) https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf https://www.federalreserve.gov/publications/files/money-and-...
And of course there are risks, including enabling new levels of surveillance capitalism. It’s important to keep up and participate in the public processes and give feedback as these cbdcs emerge.