cryptogon.com

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Specifically, retail account-based CBDCs provide government and central banks with the ability to install totalitarian supervisory and control systems, enabling:

the monitoring of all economic and financial transactions within their jurisdiction;

the collection of bulk data to be then used for other purposes, including law enforcement, the targeting of political enemies and the silencing of political dissidents;

the implementation of social management policies such as social credit scores – i.e., imposing financial penalties or constraints on citizens who engage in activities that are disapproved by government agencies or authorities;

the imposition of financial costs (e.g., fees) on using physical cash or exchanging physical cash for CBDCs. Such costs do not necessarily require the outright elimination or prohibition of physical cash by governments and central banks[19];

governments and central banks to direct financial capital into asset classes preferred by policy makers (such as government bonds) or to divert capital from asset classes they disapprove;

the compelling of economic agents (businesses and individuals) to consume particular goods and services preferred by policy makers;

governments and central banks to impose particular conditions in the case of fiscal stimulus lump-sum payments, such as imposing time limits on when an allocation of digital currency must be spent, otherwise the digital currency may be electronically withdrawn from circulation; and