Source: https://www.msn.com/en-us/money/news/digital-currency-yuan-c...
> Tom Mutton, a director at the Bank of England, said during a conference on Monday that programming could become a key feature of any future central bank digital currency ... what happens if one of the participants in a transaction puts a restriction on [future use of the money]? ... Sir Jon Cunliffe, a deputy Governor at the Bank, said digital currencies could be programmed for commercial or social purposes ... “You could think of giving your children pocket money, but programming the money so that it couldn’t be used for sweets. There is a whole range of things that money could do, programmable money, which we cannot do with the current technology.”
Good catch. Need a browser plugin that converts text to phoenetically similar terms.
Basically it was used successfully to keep a local economy going during the great depression.
Alberta, for example, tried circulating banknote-analogues that required a stamp to be added every week to remain valid; the goal was to encourage people to spend them rather than having to pay for the stamp.
In the context of something like economic stimulus payments, where the goal is to force jumpstarting the economy NOW, how would prevent people who can afford it from just setting aside their payment for later use?