THE CENTRAL BANK DIGITAL CURRENCY

The world of finance is evolving and this is the new aspect point at least for the year 2023.

The question of necessity. Many that support Central Bank Digital Currencies do so on the front that it will support financial inclusion at a core level. lessons are drawn from the mobile money frenzy at least for the African states.

However, the question should really not be about financial inclusion but the right to transact and consumerism control. Central Bank Digital Currencies come in two forms, the account based and token based CBDC. The capitalization in either comes in two types, retail and whole sale. this essentially means that there is someone noticing your consumer patterns from the way you transact. This defeats the right to transact that is at the core of a Cash based system that replaced the barter trade giving us currency to use.

Many countries here in Africa have either rolled out CBDCs or are in the process of research to roll them out.. let's have the conversation on the necessity of these things.