Comment by rvz | Hacker News Reader

Comment by rvz | Hacker News Reader

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> Bu itself upi has been a revolution. We need not think of farfetched conspiracies

Again. You are missing the forest for the trees.

I already substantiated the fact that a central bank has already banned the use of ATMs for the purpose of its users to be forced to adopt their CBDC. That is a fact, not a conspiracy, and there is no reason why this cannot happen in other countries that have finalized and are already deployed their own CBDCs, especially very authoritarian governments such as India or China.

The e-rupee is already being developed on UPI as E-RUPI which that IS a CBDC, controlled by the Reserve Bank of India. That isn't a conspiracy and you cannot convert it to cash either [0] as the point of it is to be totally cashless.

The end game of this 'revolution' is more about "control" than the technology and who really owns your money and what you can spend it on and how much you can save. More mass surveillance on top of savings limits isn't something to be celebrated.

[0] https://indianexpress.com/article/explained/what-is-e-rupi-d...

The problem is that the Indian government has already essentially full control. Americans enjoy more freedoms so maybe the conspiracies are justified. But the Indian government already has near total control in the financial sense. From an Indian perspective this is just pure convenience, since the control aspect is present regardless

> But the Indian government already has near total control in the financial sense. From an Indian perspective this is just pure convenience, since the control aspect is present regardless

That doesn't mean it cannot happen elsewhere (as I have already shown) which is my entire point.

Celebrating mass surveillance and total control of new digital currencies in the form of a CBDC and throwing free money into people bank accounts to pursue wider adoption, should scare us all and not celebrated, especially in the US, UK and other countries.

There will a point where governments will do worse things to discourage protests or donating to protest groups by using CBDCs against their own people even when they do something very unpopular.

Why on earth in the US should protestors be financially suffocated for simply protesting against their government if they did the same thing that happened in Canada with the truckers or in Nigeria with banning ATMs?

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