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The CBDC's

Leestijd: 4 min.

Brecht Soenen


Central banks

First they ignore you, then they laugh at you, then they fight you, then you win. This is the situation today but let's start at the beginning, the real beginning. The first successful central bank was that of England, which was established in 1694, a long time ago. This central bank, the bank of England, was carefully used as an example for other central banks that established themselves around the world. A good example of this is America. After several failures it was decided in 1913 to bring in the real expert Paul Warburg. He copied the Bank of England in America and thus the Federal Reserve was created.

The power of these institutions

The power of the central banks is not to be underestimated; they determine the amount of money that is printed and also set the interest rates. In this way entire economies are controlled from a central point. We also see time and again how these men make decisions that affect us all. Some examples are the Bretton Woods agreement where all currencies of 44 countries were linked to the dollar and thus an indirect gold standard was created. The next known event was the Nixon shock in 1971 where that link to gold was broken, since then we know something called the petrodollar. This ensures that the dollar remains the main reserve currency.


Now fast forward to 2009. In this year, the unknown and anonymous person Satoshi Nakamoto came on the scene. He had put forward an invention that made all those central institutions obsolete, the Bitcoin of course. In the beginning this was only accessible to the nerd but the starting shot was given. It was also not taken seriously at all but the evolution of our money system had begun. The cryptocurrency world went fast, very fast, so fast that now more than 18,000 currencies exist. There are pearls among them but also a lot of shitcoins.


The adoption of Bitcoin has also taken great leaps and bounds to the point where Bitcoin is a legal tender in El Salvador, and more countries are sure to follow. We are at the point where crypto needs to be taken into account. After laughing at the crypto world for a long time, they are now trying to regulate and control it. But the decentralized nature of Bitcoin makes that virtually impossible.


What option remains? Indeed, their own cryptocurrency. The CBDC Central Bank Digital Currency. All over the world central banks are experimenting with their own digital currency. Unfortunately, this has a centralized character, which means they are continuing to work in the same old way. One country that effectively already works with a CBDC is Nigeria, where the E-Naira is already in full use. It will take a long time before we will be able to pay with such a currency. The question is also, do we want it. You should know that the digital aspect of the currency makes it programmable. Simple example: when you receive your salary, meal checks could be programmed into it. Same with ecochecks, carbon credits etc. They can also be programmed in such a way that you cannot spend money on illegal things etc... When you do not behave as an exemplary citizen your account can very simply be restricted, yes we even dare to speak of a social credit score as in China. Sooner or later it will blow over to here and because of the digital world we live in it will be quite easy. So we have to think about it, do we really want it?

Stay Away

The only thing we can do about it is to ignore and avoid the CBDC as much as possible. Stick to a crypto that is decentralized like Bitcoin. By doing so, try to preserve your freedom and face a future that is better for everyone. So don't walk into their story of digital currency, take the power of Bitcoin to heart and make sure that you yourself are you bank. Only in this way can we move forward in the world. So get rid of the central powers and bring the power to the individual. Where it belongs.

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