Money and payments: a ‘black ships’ moment?

Caute_cautim — Mon, 30 Oct 2023 06:17:06 GMT

HI All

https://www.bankofengland.co.uk/speech/2023/october/jon-cunliffe-speech-at-the-economics-of-payments-xii-conference

Read the above first, then read the response from 50,000 responders.

𝟱𝟬,𝟬𝟬𝟬 𝗰𝗼𝗺𝗽𝗹𝗲𝘁𝗲𝗱 𝗿𝗲𝘀𝗽𝗼𝗻𝘀𝗲𝘀!

Three 𝗺𝗮𝗶𝗻 𝗮𝗿𝗲𝗮𝘀 𝗼𝗳 𝗰𝗼𝗻𝗰𝗲𝗿𝗻 were voiced:
𝟭. 𝗣𝗿𝗶𝘃𝗮𝗰𝘆
𝟮. 𝗣𝗿𝗼𝗴𝗿𝗮𝗺𝗺𝗮𝗯𝗶𝗹𝗶𝘁𝘆
𝟯. 𝗗𝗲𝗰𝗹𝗶𝗻𝗲 𝗼𝗳 𝗰𝗮𝘀𝗵

CBDC, this appears to follow the UN recent suggestions, who fully support this.

To me, it feels like 1984 - not sure I want a government to centrally control whether I have access to cash or not. Maybe its me, but I definitely feel very uncomfortable.

Then add Quantum Cryptography when Blockchain and Bitcoin suddenly becomes extremely vulnerable and at risk, unless you have Post Quantum Cryptography (PQC) migration planned ahead.

Regards

Caute_Cautim

topic Money and payments: a ‘black ships’ moment? in Governance, Risk, Compliance

Money and payments: a ‘black ships’ moment?