The following story is linked less for the information it conveys, but for the credibility it lends to this highly alarming topic.
What they touch on ever so lightly, yet don’t specify in the article, is that a digital currency can be controlled to the point that the ISSUER can decide where you can or CAN’T spend THEIR MONEY.
“Wait, it’s MY money…”
Not once it’s digital. If you understand the concept of money, you know it is a tangible property, usually a commodity, that you own. Historically that function has been filled best by gold and silver. It’s your personal property; yet another concept of freedom seeming to lose ground these days.
Got high blood pressure? On medication provided by a government health care system? Your digital currency can be “programmed” not to be redeemable for potatoe chips and ice cream. “Sorry, it’s illegal for me to sell you those items.” the clerk at checkout would say reading the net-access register display. Enjoy hunting or marksmanship? If those who run government and control currency issue don’t support your 2nd Amendment Rights, good luck buying ammo with currency from your paycheck!
Yes, it’s THAT bad!
You might think, “but crypto-currency is such a big deal!” Crypto is NOT a government-controlled digital currency. Crypto is a big deal specifically because it is privately issued and circumvents government control, corruption, and bureaucratic over-reach into your personal business.
A digital currency pulls the rug out from under the entire concept of honest money. If we ever allow that system to be implemented, those who control it will eventually pull that rug out from under us… selectively, of course, according to your “citizenship score” or their political agenda. Count on it.