22 Years Later Edition - The Siege Continues
Brazil advances digital currency with asset-freeze capability
Hidden feature allows central bank to freeze taxpayer funds
Brazil is not the only country developing a CBDC.
Earlier this year the Bank of Israel, the Central Bank of Norway and Sveriges Riksbank — Sweden’s central bank — announced the completion of Project Icebreaker, an initiative they began last year to create and test how CBDCs can be used for cross-border and cross-currency payments.
In February, the Reserve Bank of Australia announced its selection of 14 use cases for CBDC testing.
The Bank of Japan began testing its own CBDC in April after completing its proof-of-concept.
The European Central Bank has partnered with 30 Spanish banks to develop a CBDC prototype and has already selected five corporations — including Amazon — to participate in trials.
One country, however, is experiencing unexpected difficulty in rolling out a CBDC.
Nigerians have taken to the streets in protest to demand a return to cash after the government began forcing its CBDC on citizens.
Nigerians have reportedly erupted in protest over the cash restrictions, but the government is doubling down. Central Bank of Nigeria Governor Godwin Emefiele said, “The destination, as far as I am concerned, is to achieve a 100% cashless economy in Nigeria.”
-
-
-
-
It's as good as here. Govern yourselves accordingly.