What happens if we go to digital currency?

The introduction of a digital dollar has sparked concerns regarding the potential loss of financial privacy. This technology, while promising convenience and efficiency, also poses risks to individual autonomy over financial matters.

The primary fear revolves around the government's increased ability to monitor citizens' spending habits. With a digital dollar, every transaction would be recorded and accessible to authorities, eliminating the anonymity that traditional cash transactions provide.

Moreover, the government could potentially exercise greater control over citizens' financial lives by closing bank accounts or seizing funds without due process. This scenario raises serious questions about the balance of power between citizens and the state.

Critics argue that a digital dollar would represent an additional tool for the government to impose its will on citizens, particularly in relation to financial matters. It could lead to a situation where individuals feel their financial autonomy is increasingly compromised.

On the other hand, proponents of a digital dollar argue that such transparency could help combat illegal activities such as money laundering and tax evasion. They also contend that the increased efficiency and convenience offered by digital currencies outweigh potential privacy concerns.