"By programming a CBDC money can be used and precisely targeted for what people can own, and what ways money can be utilized." - Bo Li, IMF
(October 2022)
Your cashless society is on the horizon. Every day we inch closer to full on CBDC developments that seem improbable to anyone’s imagination considering the implications they bring on our day-to-day.
Now that we’re on the fast track of a CBDC since we have 100 live and ongoing CBDC projects, and 25% are expecting to launch within the next one or two years.
As a reminder, by the end 2023 another 15 - 20 CBDCs are expected to move toward a pilot. More than doubling the number of projects in pilot at this very moment.
The technology behind this is a digital ID. The central banks seek to launch the CBDCs via Digital IDs as a universal base layer and central component to a digital wallet to enable you to use your CBDC. Surveillance and oversight being the key focus making it easier to maintain AML and KYC requirements.
“The most promising way of providing central bank money in the digital age is an account-based CBDC built on digital ID with official sector involvement” — Bank for International Settlements, Annual Economic Report 2021
As you’re aware, any idea of anonymity or privacy involved with CBDC is a complete lie. The role of digital ID will be the basis for which CBDCs operate, enable full use of your funds, access public transportation, drivers licenses, health passport, access to other nations across borders, currently accessing bank accounts, accessing online services, and more.
The one stop shop digital wallet.
EU Digital IDs
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