Updated: Mar 18, 2022
The Bank of Canada has issued a press release announcing that they have collaborated with the Massachusetts Institute of Technology to make their own Central Bank Digital Currency (CBDC).
A central bank digital currency (CBDC) is a digital version of a country's fiat money, similar to cryptocurrencies. Instead of printing cash, banknotes are then issued electronically.
In a recent Joe Rogan Experience podcast interview, Maajid Nawaz broke down how these central bank digital currencies are part of the Chinese Communist Party's social credit score system, and how they give governments the complete control over how you use your money, with the ability to turn off your money for dissenting against the state.
This is alarming for a country such as Canada because as we have already witnessed, the government has used emergency powers to freeze the bank accounts of anyone protesting against them. A central bank digital currency would make it infinitely easier to do that.
The Atlantic Council has made a CBDC tracker where you can see which countries have, or plan to launch a central bank digital currency. 82 countries currently have them or are researching them with plans to implement them in the near future. https://www.atlanticcouncil.org/cbdctracker/
The full press release from The Bank Of Canada (Canada's central bank) regarding their own CBDC can be read on their own website here: https://www.bankofcanada.ca/2022/03/central-bank-digital-currency-collaboration/
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