- Social media expert Layah Heilpern stated that the widespread rollout of a CBDC could lead to financial censorship.
- A CBDC will not allow governments to program the currency in such a way that you will not be able to spend it on certain things.
- About 110 countries from around the globe are at some stage of CBDC development.
In an interview with British news outlet GB News, social media influencer and TV host Layah Heilpern stated that the widespread rollout of a central bank digital currency (CBDC) could lead to financial censorship of citizens in the future.
She added that CBDCs “should terrify you,” as they are basically programmable cryptocurrencies that run on blockchains that could be programmed against you.
Heilpern also added that “if for whatever reason you say the wrong thing, because you know we’re seeing censorship increasing, then that money can essentially be programmed to be used against you.”
She acknowledged that people might find this idea bizarre. She responded to this by referring back to the restrictions that were placed on unvaccinated people during the heat of the COVID-19 pandemic.
She then stated that a CBDC will not allow governments to program the currency in such a way that you will not be able to spend it on certain things.
Heilpern continued her argument on Twitter, where she added that CBDC is being marketed as better for the environment and as the solution for inflation, but “money is the energy that fuels your life,” and it should terrify people that governments can take control of it.
Heilpern is not the only person throwing suspicious glances at the crypto industry and governments. The recent Tornado Cash debacle, which saw the U.S. Treasury sanction ETH and USDC addresses associated with the Ethereum-based privacy tool is also not sitting well with people.
At the moment, about 110 countries from around the globe are at some stage of CBDC development.