A central bank digital currency is the “ultimate tool of control” for the government after ANZ stopped the withdrawal of cash in some of their branches this week, says Sky News host Cory Bernardi.
“It suits the government’s move to a central bank digital currency,” he said.
“Cash will be phased out. It’s no longer accepted for payment everywhere and a previous government tried to ban some cash transactions and even cancel the one-hundred-dollar note.
“Once everyone is used to a purely digital payment means they can simply flick a switch to move the monetary system to the blockchain – you will not even notice this until it actually impacts you.
“Blockchain-based currency is also programmable currency – government could theoretically limit your ability to spend your money in any way they want to.”