CBDC And The Government, Why Americans Think Government Could Use It To Monitor What People Buy

The adoption of CBDC has become a major player in the world recently as some countries working in the research phase of introducing digital currency. However, the United State of America has been in working phase since 2020 to implement its own Central Bank Digital Currency 💲

The government research arrive at the peak of releasing CBDCs in United States, waiting from approval from Congress. Before the release many people has already begun to oppose a CBDC and from the survey conducted by Cato institute, only 16% of Americans support a CBDCs the others oppose the use of CBDC.

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The debate of a CBDC adoption in American has raise many critics about how the Central Bank Digital Currency is going to impact in united states. CBDCs been criticized and many have been warning against the use of it.

In fact Ron DeSantis the Florida governor was the first person to call CBDCs a threat that may posses large danger to people, and from a bill signed last week the Florida governor signed to ban central bank digital currencies (CBDCs). However, many has appear to follow the steps Ron DeSantis in banning CBDCs in their state. Texas, and North Dakota already pass a bill opposing a digital dollar in their states.

The Democrat presidential candidate Robert F. Kennedy also warnings against the potential dangers of CBDCs, And further information conducted by Cato institutes, 53% of respondent already oppossed CBDCs and only 16% support the digital currency from the current Poll, while people are concern about government tracking what people use their money to buy.

On other side, the launch of CBDCs could cause reduction risk of money laundering, but people see more risk in adopting CBDC in America than it advantages. Honestly other countries like Sweden, Russia, Switzerland, Japan and Israel introduction of CBDCs has not face critics like US. Is like Americans trust in private entities than government handling their money and for that 78% will go against it to protect their money.

But there one thing that is certain, Americans will support this adoption if the government made it clear this is not going to eliminate the use of cash, and if this made financial transaction easy, there might be a supportive from the people.

Honestly if this can help Fed fight against economy recession, allowing people without no bank to access to banking system, people may consider support CBDC implementation.