Bank of England and Treasury think UK is 'likely' to need digital currency

Re:Bank of England and Treasury think UK is 'likely' to need... by rbera on Saturday February 04, 2023 @06:29PM (#34659574)

I suppose ideally your money can’t be stolen? E.g., if someone hacks you or something similar, the government can invalidate that currency. Plus reduced money laundering, since it’s tracked, which theoretically reduces crime and makes it easier to track.

Personally I only see physical currency being deprecated over the next several decades, considering most people don’t really care about privacy anymore (including me, to be fair).

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Re:Bank of England and Treasury think UK is 'likely' to need... by eddsh1994 on Saturday February 04, 2023 @06:43PM (#34659722)

It's 2032. Covid Alpha variant is running rampant. In an attempt to prevent Americans breaking mandatory isolation electric cars have been disabled unless authorised by your neighbourhood state leader and all non-online transactions have been blocked.

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Re:Bank of England and Treasury think UK is 'likely' to need... by rbera on Saturday February 04, 2023 @07:34PM (#34660169)

I’m not saying this is necessarily a good thing. When I say I don’t care about privacy, I mean that I don’t use VPNs, I don’t use ProtonMail, I don’t disable cookies or JS, I don’t use cash—all because I value convenience. Is this short-sighted? Maybe, but I am in a position where I (generally speaking) trust the government. That’s not true of everyone of course.

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Re:Bank of England and Treasury think UK is 'likely' to need... by eddsh1994 on Saturday February 04, 2023 @08:02PM (#34660377)

And, key here, you trust the government now. If a government you trust erodes privacy over time & then a government you don't like gets into power you're screwed.

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Re:Bank of England and Treasury think UK is 'likely' to need... by password4321 on Saturday February 04, 2023 @08:08PM (#34660445)

Ad block?

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