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Yes but they want more. Authorities can't print endlessly, inflation would get too bad and apart from the danger of economic collapse, ordinary people do notice
by trompetenaccoun 3y ago
Yes but they want more. Authorities can't print endlessly, inflation would get too bad and apart from the danger of economic collapse, ordinary people do notice when the purchasing power of their money rapidly depreciates, even when they don't fully understand why. In comes CBDC and the realistic ability to make this "free money" stamp idea a thing at scale. They could give the tokens an expiry date as well, Chinese authorities have proposed such a thing.* Or void certain ones while leaving others untouched. For example if you were to take part in an illegal trucker protest, poof go your savings.
*https://www.econ.iastate.edu/ask-an-economist/why-would-chinas-central-bank-want-issue-digital-yuan-expiration-date https://www.econ.iastate.edu/ask-an-economist/why-would-chin...