Danny Kruger MP: What's the CBDC for? What problem is it going to solve?
James Bowler, Permanent Secretary to the Treasury: Look...um... what's it for? It's... it's... to keep track with the reality of how we all... um... we all... um... purchase, and ... and ... save ... and ... and ... do our ... um ... work with our goods... um.... er ... and ... um..."
Sounds great, just what we need; what could possibly go wrong? I have absolutely no doubt that this wonderful new technology would never be used by authoritarians as part of any Orwellian Digital Panopticon/Surveillance State. And don’t forget, it will be so much more convenient than banknotes in our pockets. I’m sold. Bring it on, Big Brother. Keep us all Safe and Financially Effective™.
Further reading:
"What problem is a CBDC going to solve?"