Let's play a mind game
Crude ledger -> Efficient ledger
Banking system = Crude ledger
CBDC = Efficient ledger
CBLSS = Central Bank Ledger System & Software
It's really amazing how much #Bitcoin has evolved. It's mining and minting and hard caps all created so many crypto's.
Ok if you are a BTC maxi, then of course Bitcoin is different. Do the powers that be really care about what is different?
What's really important is learning, adapting, and implementing something that works well. Many crypto projects have and will contribute to better 'technology'. What's the end game of such technology for governments? Well knowing exactly where you ordered, and even what you ordered. Can everything be on a ledger? Easily it could in order to be in 'compliance' with government agencies. Of course all business and services would need to sign up. What could possibly go wrong in the economic system for something like this to happen..
Sometimes the most obvious has to be called out. If there are open source projects, there's nothing from even stopping government from implementing amazing new technology. It's been speculated for a long time of what the governments of the world intend to use crypto for. Now it would seem the most powerful weapon of knowing what we do with our money is now in the control of the government. There's really nothing to stop them because you can be cancelled from transacting. This is a new form of control that which the free world has never seen. Of course this all has to be sold to us in the form of one crisis or another.
In order for this Orwellian mission to come to completion is of course something seriously going wrong in our current economy.
Seriously.. what could go wrong?
Alright Bear, so we have known this for a while. What's your solution? Well I have no freaking solution to this. The only thing an individual can do is own physical assets outside of the banks and government control. Of course this will be an accumulation before all physical assets are tracked and taxed. On the positive side of this is that on the retail government ledger system you will have proof of what you own. There will always be alternative currencies, but they will be created underground. #BTC could provide some kind of alternative but on ramps to CBDC will track everything. Super ledgers will require KYC.
There will be plenty of solutions to goods and services that do not want to be tracked. Eliminate cash, eliminate crypto.. but some crypto's will be accepted. Remember the silk road was taking Bitcoin for assets and services. It could happen again including physical silver, gold, eggs.
Onboarding for complete control of what you spend may be enticed by universal basic income. Also banning cash will not exactly go well and there would be a swift move to privacy coins whatever they may be. I am not as fearful of the CBDC because the more Orwellian, the more people will figure out more privacy. Of course things could linger if they are that bad, but human beings eventually want a new solution. It would seem the powers that be never seem to understand that any consolidation of power leads to eventual freedom or rebellion. Making a society of slaves takes generations, and of course some kind of mind numbing encouragement for it to continue.
The taste of freedom is still on our lips. Erode the lifestyle slowly can make a slow transition of slaves, but going too draconian will insight rebellion for those that remember. We still remember freedom. Freedom will not go silently in the dark and the time period for their ponzi scheme is coming undone quicker then they may even replace with a CBDC. So the future is upon us and we must understand that some standards of living will go down, and people will pine for what they had. War, distraction, crisis will come in the future. It's not out of the question that localities will also figure out their own systems.