Digital money instead of cash – the future of finance or a tool of control?

Central bank digital currency (CBDC) is a topic that excites public opinion around the world. Supporters see it as the future of finance – the end of printing costs, instant payments, and complete convenience in everyday life. However, critics warn that the total elimination of cash could mean the death of anonymity and the last guarantee of citizens’ financial freedom. The introduction of CBDC in the hands of the state could give authorities a tool for full control over spending – from limiting “harmful” purchases to blocking politically incorrect transactions. There are also conspiracy theories that CBDC is a prelude to the social credit system known from China. Will we give up privacy in exchange for convenience?