IMF Admits CBDCs Would Allow Personal Data to be Stored

 International Monetary Fund sounds prophetic on its own.  So does Central Bank Digital Currency.  So to see them both in the same headline has to be blog-worthy.  The Bible says a day is coming when cash will not be used for anything.  That day is really close, and we are the first generation to possess the technology to make it possible.

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The IMF begins its report immediately explaining how retail CBDCs contain all sorts of information when a transaction occurs, and therefore can be leveraged by central banks and other entities for themselves, and could be overturned to government authorities and police for potential crimes depending on national policies. The IMF wrote: 

Central bank digital currency (CBDC), as a digital form of central bank money, may allow for a “digital trail”—data—to be collected and stored. In contrast to cash, CBDC could be designed to potentially include a wealth of personal data, encapsulating transaction histories, user demographics, and behavioral patterns. Personal data could establish a link between counterparty identities and transactions.

Like other payments data, CBDC data may have economic value. Data are non-rival. Data are infrastructural resources that can be used by an unlimited number of users and for an unlimited number of purposes as an input to produce goods and services. CBDC data could potentially be harvested by financial institutions that, in turn, could help develop data-driven businesses.

The authors later defined exactly what the data collected is. This includes the payer’s/payee’s identity, payer’s/payee’s pseudonymous identifiers (account number or token address that belongs to, or is controlled by, a counterparty), transaction data, and other and payer and payee transaction metadata (merchant’s name, purchase location, and spending category).

https://winepressnews.com/2024/09/04/imf-admits-in-paper-cbdcs-would-allow-personal-data-to-be-collected-and-stored-and-provided-to-police-creating-surveillance-state/