Dystopian World Could Emerge From Government Control of Blockchain via CBDCs, Says Okcoin CEO

Blockchain

The chief govt of San Francisco-based crypto alternate Okcoin thinks authorities management of the blockchain through central financial institution digital currencies (CBDCs) may result in a dystopian world.

In a brand new interview with broadcaster David Lin, Hong Fang says that she “loves” Florida’s lately handed ban on CBDCs.

The Okcoin CEO argues that the issuance of a CBDC is the federal government’s option to management the lives of personal residents.

“It’s management – it’s controlling the whole lot. As soon as the federal government is controlling it, it’s very exhausting to provide again management, so I feel we’ve got to be very cautious about that.

Blockchain will increase transparency, and when you really embrace the cash piece into that, after which put that underneath authorities management, we principally get the evil of two worlds, proper?”

Fang argues that Bitcoin (BTC), in contrast, is all about giving people extra freedom and management.

“Expertise is giving that empowerment to people. It’s giving the instruments to people and releasing us from firms…

However cash is the last word layer. If cash might be managed, it’s sort of determined, and you may really see that in different components of the world, in another components of the world the place the cash is underneath management… it’s dystopian.”

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