Central Bank Digital Currencies: Control and Risks

The chapter explores the concept of central bank digital currencies as programmable money with controls that provide central banks with absolute control but raise concerns about privacy and misuse. It discusses potential risks like increased power for banks to freeze accounts without due process and highlights real-life examples of misuse. The episode also contrasts CBDCs with cryptocurrencies, mentioning the interest in CBDCs due to fear of losing control and limitations of the current debt-based economy.