CBDC = Social Credit Score

I am not a thought leader, and I am not trying to be. In fact, these thoughts may have been presented previously. However, I have been mulling over this concept for the past several days and wanted to share them for critique and additional feedback.

I have come to the conclusion in my own thoughts that a CBDC will inevitably become nothing more that a work around for a social credit score. Let me explain my position.

Digital money is programmable. The controlling party can set the parameters and function to include whatever desired data be needed. There will be only one source that controls all that data. Take into consideration the following scenario:

A family goes into a store with a limited budget, trying to stretch it as far as they can to feed their 3 children. They purchase some good quality products as well as some questionable nourishment. Dad picks up some alcoholic beverages and mom loves herself some dessert.

Who cares, right? We’ll, the government does. They are now putting you into a “high risk” category and you may be at risk of losing your future Medicaid benefits because of your bad decisions.

You are middle-upper class so that doesn’t mean anything to me, right? Wrong. Private insurance can purchase the data from the Central Bank so they are now able to see that you had beer and pizza too many times as well. Had a heart attack? You’re on your own for those costs.

I understand that all of this is a bit hyperbole. However, the threat remains that one power over monetary data is horrifying. Just health care alone lends itself to an extreme example of how a CBDC could control a population under a disguised social credit score.

I will now remove the tin foil hat. Thank you for adding to the conversation.

Submitted April 03, 2023 at 05:01AM by robot-exodus https://ift.tt/4v7QU6E