Cardano's founder calls CBDCs the single most dangerous innovation.

Central Bank Digital Currency (CBDC) is the new issued digital currency backed by a country's central government (banks) to serve as a digital currency like another alternative crypto, in form of a digital peer currency to compete with cryptocurrencies, with crypto popularity world economic countries like the US, Chain have been on the verge of introducing its digital centralized currency.

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Why CBDCs

Similar to bitcoin's whitepaper which aims to increase border transactions by limiting the use of an intermediary body, and increasing privacy by giving users control over their assets, CBDCs issuers, are on track to break even by allowing users to make seamless cross-border transactions using centralized digital currency.

The main goal of CBDCs is to provide businesses and consumers with privacy, transferability, convenience, accessibility, and financial security.
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One does not need rock science to figure out crypto (Bitcoin) is the opposite of the central digital currency, it is decentralized, and not controlled by any governmental body, it's obvious CBDCs claim to offer privacy as one of its core aims but oppose could be this scenario of its privacy as it's known, the centralized digital money will virtual be used for tracking all users transactions, beside we have seen cases of tornado cash a privacy based blockchain which was shot down due to its privacy protocol offering service.

CBDCs are not crypto

Charles Hoskinson in an interview, reiterated he would never support the CBDC single monopoly system that claims ultimate autonomy over users assets, he sight an example with two ethical regions in a country, where, the dominant region with power can outpower the low-class region in case of regional crisis restricting the lower region from accessing funds in their wallets, he also points permanent record of a users transaction, using CBDC can infringe on users privacy.

Hoskinson isn't a fan of CBDCs and sees the central digital currency as a threat to the crypto space, there are also questions concerning the digital currency CBDC, will it supply be capped like other cryptocurrencies or it will be inflated unlimited allowing printing more money for the elite?

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