Samson Mow from Blockstream: CBDCs are a horrible idea

Renowned blockchain developer and bitcoin enthusiast Samson Mow lashed out at central bank digital currencies after Canadian authorities took harsh actions against anti-COVID protests.

“At least now people should realize why CBDCs are a horrible idea. When you become an enemy of the state, which seems quite easy these days, all your money will be gone. Bitcoin is the separation of money and state, CBDCs are the complete integration of money and state,” Blockstream’s chief security officer tweeted.

The decision of the Canadian authorities to block bank accounts of anti-COVID protest participants in the country became the reason for Mow’s harsh criticism. On February 14, Deputy Prime Minister of Canada Chrystia Freeland announced at a press conference that authorities would block bank accounts and suspend vehicle insurance for truckers participating in protests against stringent vaccination requirements.

“We are today serving notice if your truck is being used in these illegal blockades, your corporate accounts will be frozen. The insurance on your vehicle will be suspended.” Personal financial accounts of the protesters will be blocked, as well, in a pre-trial order, i.e. without any court decision.

Mow posted a video from the Freeland conference with the comment: “The exact moment your national currency becomes a shitcoin..”

Projects to create digital national currencies are developing in China and Russia. In China, digital yuan is already being used by guests and participants of the Beijing Winter Olympics. The daily volume of transactions with e-CNY reached $315,000. American and British intelligence services previously stated that there are high risks of increased surveillance using the Chinese CBDC.


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