The CEO of San Francisco-based crypto exchange Okcoin thinks government control of the blockchain through central bank digital currencies (CBDCs) could lead to a dystopian world.
In a new interview with broadcaster David Lin, Hong Fang says she loves Florida recently passed ban on CBDCs.
The Okcoin CEO states that issuing a CBDC is the government’s way of controlling individuals’ lives.
“It is control – it controls everything. Once the government gets it under control, it’s very hard to give back control, so I think we have to be very careful about that.
Blockchain increases transparency, and once you put the coin in there and then put it under government control, we basically get the evil of both worlds, right?
Fang argues that Bitcoin (BTC) is actually about giving individuals more freedom and control.
“Technology gives individuals that empowerment. It gives the tools to individuals and frees us from corporations…
But money is the ultimate layer. If money can be controlled, it’s kind of desperate, and you can really see that in other parts of the world, in some other parts of the world where money is under control… it’s dystopian.
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