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by screye
1293 days ago
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Because societies function very differently in a dense & community driven country like India vs sparse nuclear nations like the US. Once you reach a certain level of density, be that most of India or east-coast American cities, you have to rely on public services to facilitate most things in your life. The Govt. already has indirect financial veto power on you. This won't change anything the Govt. is already able to do everything that you claim CBDCs will facilitate. Note that 90+% of India operates in a permanent survival mindset. All positives associated with libertarianism are much higher on Maslow's pyramid. These people are on the bottom rung, so the rights citizens would have to forfeit as part of CBDCs feel trivial. Second, India is a low trust society. So, anything that increases tracking, surveillance and transparency is welcome. Trustless systems are welcome. Cash is easy (to launder) and cash is simple (to hide). The elimination of cash adds significant barriers to the most important facilitator of the low trust economy : cash. |
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