Abstract
The world of finance has been undergoing rapid transformation, with the rise of cryptocurrencies
and decentralized financial systems challenging traditional monetary frameworks. Central banks
worldwide are exploring the potential of Central Bank Digital Currencies (CBDCs) to maintain
their influence and adapt to this evolving landscape. Understanding their implications on social
and economic systems is crucial as CBDCs emerge as a potential response to these challenges.
Conversely, the potential impact of CBDCs extends beyond these claimed economic benefits,
raising questions about their potential role in promoting or impeding broader social and political
changes. This paper briefly examines the potential implications of CBDCs on the advancement of
socialism, totalitarianism, and the emergence of social credit scores in the United States and
discusses the challenges and opportunities posed by CBDCs in this context and the need for
policymakers to carefully consider the broader implications of digital currencies as they chart a
course for the future of finance
and decentralized financial systems challenging traditional monetary frameworks. Central banks
worldwide are exploring the potential of Central Bank Digital Currencies (CBDCs) to maintain
their influence and adapt to this evolving landscape. Understanding their implications on social
and economic systems is crucial as CBDCs emerge as a potential response to these challenges.
Conversely, the potential impact of CBDCs extends beyond these claimed economic benefits,
raising questions about their potential role in promoting or impeding broader social and political
changes. This paper briefly examines the potential implications of CBDCs on the advancement of
socialism, totalitarianism, and the emergence of social credit scores in the United States and
discusses the challenges and opportunities posed by CBDCs in this context and the need for
policymakers to carefully consider the broader implications of digital currencies as they chart a
course for the future of finance
| Original language | American English |
|---|---|
| State | Published - 2025 |