One man’s trash is another man’s treasure, as they say – and so what are some of the least desirable features of a central bank-issued digital currency (CBDC) to critics, are promoted as positive by those behind the push for CBDC adoption.

Thus, Bank for International Settlements (BIS) General Manager Agustin Carstens – likes the fact CBDC are programmable, and he also doesn’t mind “limits on privacy.”

Pretty grim stuff, opponents will no doubt say. First, the reference to “programmability” of this type of centralized digital money controlled by banks and governments concerns their ability to make the use of money restricted in a variety of ways.

It means the “user” – i.e., a person who owns that money – can be constrained in the way they are allowed to spend it. For example, they may be “allowed” to only spend that money on certain goods, or within a certain deadline, and even a physical location.

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