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(Drex, or Real Digital, is the proposal of the Central Bank of Brazil)
1. Centralization and total control
One of the main concerns is the potential increase in the centralization of power over financial transactions. With Drex, the government would have the ability to monitor in real time all transactions carried out in the digital financial system. This could allow for greater surveillance over citizens' spending, consumption habits and income, something that many see as a form of excessive control.
In an extreme scenario, if there were an authoritarian government, Drex could be used to limit certain people's access to the financial system, restricting their economic freedoms and, ultimately, their civil liberties.
2. Programmability of the currency
Another factor is the so-called "programmability" of the digital currency, which would allow the government to impose restrictions on the use of Drex. For example, it could be programmed to expire, be spent in specific locations or prevent it from being used on certain products or services. This type of control could increase state interference in private life and limit financial free will.
3. Privacy risks
With the complete digitalization of money, financial privacy would be at risk. Even with data protection guarantees, Drex's architecture would be centralized and subject to government monitoring. In contrast to physical money, which can be used anonymously, Drex could track all of each citizen's financial activities.
4. Possible tool for economic manipulation
In times of economic crisis or hyperinflation, the government could use Drex to force consumption or redirect the use of citizens' money according to short-term economic interests, such as preventing mass cash withdrawals or stimulating certain sectors.
What is your opinion on this?
Will we one day fight against the system and forget about the left and right that only divide us?remember the enemy is the system
#liberdade
1. Centralization and total control
One of the main concerns is the potential increase in the centralization of power over financial transactions. With Drex, the government would have the ability to monitor in real time all transactions carried out in the digital financial system. This could allow for greater surveillance over citizens' spending, consumption habits and income, something that many see as a form of excessive control.
In an extreme scenario, if there were an authoritarian government, Drex could be used to limit certain people's access to the financial system, restricting their economic freedoms and, ultimately, their civil liberties.
2. Programmability of the currency
Another factor is the so-called "programmability" of the digital currency, which would allow the government to impose restrictions on the use of Drex. For example, it could be programmed to expire, be spent in specific locations or prevent it from being used on certain products or services. This type of control could increase state interference in private life and limit financial free will.
3. Privacy risks
With the complete digitalization of money, financial privacy would be at risk. Even with data protection guarantees, Drex's architecture would be centralized and subject to government monitoring. In contrast to physical money, which can be used anonymously, Drex could track all of each citizen's financial activities.
4. Possible tool for economic manipulation
In times of economic crisis or hyperinflation, the government could use Drex to force consumption or redirect the use of citizens' money according to short-term economic interests, such as preventing mass cash withdrawals or stimulating certain sectors.
What is your opinion on this?
Will we one day fight against the system and forget about the left and right that only divide us?remember the enemy is the system
#liberdade
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Your house is not yours, your car is not yours, your wife and children are not yours. It's all the state's. Be libertarian before it's too late. #TopCoinsSeptember #bitcoin #liberdade
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The cryptocurrencies that were based on economic freedom, decentralization, and self-sovereignty are kneeling before the global economy and geopolitics. Satoshi's plan is being ruined by this political intervention in the crypto market.
They do not want to be part of it, they want control.
Times of uncertainty and insecurity.
#descentralizacao #liberdade
They do not want to be part of it, they want control.
Times of uncertainty and insecurity.
#descentralizacao #liberdade
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