There has been a growing number of digital currencies in our modern times with the goal of eluding the bureaucracy of taxes and oversight of currency. Some of these digital currencies have gained big notoriety, such as Bitcoin, which has likely raised the eyebrows of those in governmental power, because it probably takes away a great amount of control of the economy. It is no secret that the United States dollar has been the main trading currency throughout the world, but that regime seems to be moving in a threatened environment. 2022 marks a time when a Presidential Executive Order was created to begin the creation and conversion of the US dollar into a digital currency, which would in essence create a cashless society in this country. Of course, a cashless society has long been predicted in religious writings, and people have feared this coming time because I am sure we all feel that this will become the ultimate control tool for governments. Creating a cashless society can clearly lead to total control of our monetary assets, and provide complete oversight and knowledge of what we are spending our money on. But this could also provide the governments of the world with the decision whether we get to buy things — when we get to buy things — and what we get to buy, so honestly, it does feel like a very scary time to be alive. I am not speaking of impending doom as if I know for sure that this is what will happen with digital currency, but it clearly has the potential to provide this type of total control.
I have copied some information from a number of websites, which I have listed at the end of the article to provide credit to the original sources.
“The term “central bank digital currency” or “CBDC” refers to a form of digital money or monetary value, denominated in the national unit of account, that is a direct liability of the central bank. The big takeaway from this definition of a CBDC is the term “central bank””. Any time there is a centralization of anything, and in this case currency or money, there is an opportunity for dominance, control, and corruption; the real power of the people comes from decentralization, so when we are placing the pivot point of all our currency on a single point, it can cause this to become a single point of failure as well.