Fri Aug 11, 2023 – 10:01 am EDTFri Aug 11, 2023 – 10:01 am EDT
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(Reclaim The Net) — Headlines across the globe see Australia making aggressive moves towards a cashless society, a move that gravely threatens the last bastions of economic privacy and individual autonomy. Are Australia’s major banks merely championing the cutting edge of financial convenience, or is there a more pernicious hidden agenda seeping into our digital economy? It certainly appears that Central Bank Digital Currencies (CBDCs), the potential beneficiaries of a cashless society, could become the shackles of a future technocratic authoritarian world.
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Of note, two key issues have constantly shadowed the glittery promise of CBDCs. Stripped bare of the intricacies of digital finance, these issues are glaringly simple: a cashless society, necessary for CBDC proliferation, eradicates all scope for trade privacy. Consequently, a switch to this digital model hands unmitigated control over your personal funds to banks and government bodies.
In recent times, behind the distraction of the pandemic, Australia has
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