Central Bank Digital Currencies (CBDCs) are digital versions of a country's fiat currency that are issued and backed by the central bank.

Unlike cryptocurrencies, which are decentralized and operate outside of government control, CBDCs would be regulated and controlled by the government and central bank. CBDCs can be designed to work on distributed ledger technology, which is the same technology that underpins cryptocurrencies like Bitcoin and Ethereum.

While cryptocurrencies don't need a central authority to function, CBDCs will be issued, monitored, and programmed by governments or central banks. This means that if we want to look at financial freedom, CBDCs may be seen as a step back from where we are now, as they could lead to increased government surveillance and control over individual financial transactions.

Despite these concerns, many countries around the world are exploring the potential of CBDCs. In the United States, the Federal Reserve has been exploring the potential of CBDCs and recently released a discussion paper outlining its research and conside

rations. The paper discussed various issues, such as the benefits and risks of CBDCs, the technology and design choices, and the legal and regulatory  frameworks needed to support CBDCs.

However, not everyone is on board with the idea of CBDCs. In Florida, Governor Ron DeSantis recently stated, "In Florida, we will not be using a federally controlled digital dollar." The governor's statement comes amid concerns about the potential for government overreach and surveillance with the use of CBDCs.

Proponents of CBDCs argue that they could lead to more efficient and cost-effective payment systems, reduce fraud 

and corruption, and provide greater financial inclusion. However, opponents raise concerns about the potential for government surveillance, loss of privacy, and restrictions on personal spending.

As the debate over CBDCs continues, it remains to be seen how they will be implemented and what their impact will be on society and the economy.