Last thursday, 3 Republican Senators of the US decided to present a draft bill which would prohibit from the american digital stores (like Apple) the use of digital Yuan.
The main reason is the risk to be spied by China in every transactions. Tom Cotton, senator from Arkansas declared indeed : “The Chinese Communist Party will use its digital currency to control and spy on anyone who uses it. We can’t give China that chance — the United States should reject China’s attempt to undermine our economy at its most basic level.”
This reason is true and justified. The only problem is that there is a very similar project building itself within the European Union (EU) with a will to launch a digital euro.
So here's the question : it's a bad thing if China spy all potential transactions but it would be a "good" thing if the exact same thing is done from our "friends" from the EU ? What about also the digital dollar discussions ?
The truth is that the very principle of a Central Bank Digital Currency and how they are made until now, is a totalitarian idea itself. A totalitarian idea made from the spirit of a totalitarian regime, why not ? That makes sense. China was after all the very first country to create this concept as The Wall Street Journal underlined it.
However how can countries mainly considered as democracies could copy this very totalitarian idea from Chinese's regime ?
I won't answer this question here, which could lead to very long talks about how our democracies had evolved from both sides of the Atlantic Ocean. But what i know is that Bitcoin can fix it.
Nobody controls Bitcoin, his core code can't be easily changed by a few people having control and power. Of course, some progresses could stil be made with the privacy of the transactions made with Bitcoin. However other projects exist like Monero or Zcash, this last one using the code of Bitcoin as a basis.
Anyway, when humanity made a new invention there is always different and alternative ways to use it. Satoshi Nakamoto show a decentralised and democrztic way to make a digital currency for the people and not controlled by totalitarian States or corrupted governments. China show the totalitarian way.
Do we really want to follow the path of China ? If Bitcoin won't fix other problems within our democracies, Bitcoin fix it for our financial and economical freeedom.
Breizh Cryptos.
