Part 5/8:
The concerns surrounding CBDCs and digital currencies extend beyond mere financial transactions. They reflect deeper governance issues. An opaque and non-transparent governance structure could emerge, wherein central bankers gain the power to dictate fiscal policies and individual freedoms. For instance, during crises such as the COVID-19 pandemic, such a system would allow authorities to monitor compliance with movement restrictions effectively. They could leverage financial controls to enforce regulations, coercively guiding behavior via the interruption of access to funds.