Central banks are creating their own surveillance state
Should we really be surprised that the Treasury and Bank of England are exploring whether to launch a state-issued digital pound? Sunak, after all, was the chancellor who first floated the idea of backing a central bank digital currency (CBDC) — already dubbed “Britcoin”. Nor was he alone: 11 countries, including China, Nigeria, The Bahamas and Jamaica, have already launched their own digital currencies, while more than 100 others, representing over 95% of global GDP, are deciding whether to follow suit. In the United States, the Federal Reserve Bank of New York has launched a pilot programme; the European Central Bank hopes to make a decision about the creation of a digital euro this autumn.
