What is Anti-CBDC?
Anti-CBDC, or Central Bank Digital Currency (CBDC) resistance, is a movement dedicated to preventing the implementation of state-issued digital currencies. This opposition comes from those who believe that CBDCs will be used by governments as an instrument of control over their citizens and monetary policy. Supporters argue that this could lead to drastic changes in the structure and function of financial systems around the world with potentially serious consequences for individuals’ economic freedom. They also point out potential risks such as privacy violations stemming from government surveillance enabled through access to data stored on private blockchains associated with CBDCs. Additionally, they claim that the introduction of a state-backed digital currency would create unfair competition against existing decentralized cryptocurrencies like Bitcoin which may ultimately harm consumer choice and innovation within the cryptocurrency space. As a result, many anti-CBDC activists are advocating for measures such as increased public awareness about CBDCs and countermeasures designed to make them more difficult or costly for governments to implement if adopted at all
