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Comment by rvz | Hacker News Reader

> India's digital payments ecosystem (the "UPI") has been an unparallelled success at the second layer.

Hence the reason why the RBI will eventually use UPI to piloting their CBDC on top of it anyway and force all of India to use it.

That should scare us all.

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> That should scare us all.

Why?

This is why [0]. Some board members at the European Central Bank (ECB) are already considering suggesting spending and saving limits on CBDCs including the digital euro and that should tell you where these CBDC pilots are going to go if successful and how very dystopian that would be already.

Oh dear.

[0] https://reclaimthenet.org/digital-euro-spending-saving-limit...

We already live in a dystopia where transaction sabotage is being compensated with more money to sabotage.

That’s not what it says. It says there will be transaction amount limits above which transactions would be recorded. Again this information is already available to governments when required.

> That’s not what it says. It says there will be transaction amount limits above which transactions would be recorded.

Yet it also says in the same source about an ECB member; Fabio Panetta, mentioning in the video about introducing savings limits which I said earlier [0]: "What we are discussing is the possibility of introducing limits for individual users,” Panetta said. “For example, we have been discussing many numbers... €3,000."

> Again this information is already available to governments when required.

Of course. They always have been doing it out in the open for other governments to try out having their own CBDCs, which is still clearly dystopian and will press forward on it like it or not.

[0] https://reclaimthenet.org/digital-euro-spending-saving-limit...

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