Digital Currency or Digital Control?

18 Jun 2024

"Digital Currency or Digital Control?" by Nicholas Anthony, published by the Cato Institute, delves into the growing phenomenon of central bank digital currencies (CBDCs) and their potential threats to financial privacy, personal freedom, market stability, and security.

Anthony argues that while CBDCs are being developed and implemented worldwide, they must provide unique benefits that justify their risks. Instead, they could introduce new cybersecurity vulnerabilities and undermine the independence of central banks. The book highlights how CBDCs could lead to increased government surveillance and control over financial transactions, posing a fundamental threat to individual liberties.

Nicholas Anthony is a policy analyst at the Cato Institute's Center for Monetary and Financial Alternatives and a fellow at the Human Rights Foundation. His research spans monetary and financial economics, including CBDCs, financial privacy, and cryptocurrency. Anthony's work has been featured in prominent publications such as the Wall Street Journal, MarketWatch, and Business Insider.

He also maintains the HRF CBDC Tracker, documenting global CBDC developments and associated civil liberties concerns. With a solid academic background in economics from Towson University and George Mason University, Anthony brings a critical perspective to the debate on the future of digital currencies and their impact on society.

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