American rapper Post Malone, has recently put forward his scepticism about the potential US Central Bank Digital Currency (CBDC), linking it with an increased government control over its citizens. This statement was made during a recent episode of the “Joe Rogan Experience” podcast, wherein both Malone and Rogan aired their concerns over this digital currency introduction.
The duo drew attention to potential risks such growing state control, citizens losing their income to the government and a pervasive ‘checkmate’ situation for the public. Specifically, Malone and Rogan suggested that people’s hard-earned wealth could be easily and instantly stripped away, rendering them powerless and helpless.
More than just financial aspects, they also touched on the societal implications of such a system, hinting at potential impacts on social credit scores, and behavioural control. While they didn’t explicitly mention Bitcoin or other cryptocurrencies during their discussion, it was keenly interpreted as an indirect endorsement from the community, especially against a perceived backdrop of increasing government attempts to regulate digital assets.
Such sentiments aren’t limited to the entertainment industry alone. A great deal of scepticism lies amongst politicians, sportspeople, and business leaders alike, with a dominant perception that central banks and regulators are manoeuvring to stifle crypto with their digital assets. Despite ongoing regulatory uncertainties, digital asset community finds solace and support in the likes of Malone and Rogan.
Their podcast episode has sparked debates in the crypto community, driving many enthusiasts to maintain a wary distance from CBDCs. Interestingly, one of the major counter-narratives against CBDCs, particularly the digital dollar, springs from crypto-friendly political figures.
For instance, Presidential hopeful Robert F Kennedy has voiced similar concerns, terming CBDCs as potential “instruments of government control” with high possibilities of misuse. In an interview with the New York Times, Kennedy unveiled his crypto plans which included wallet and network security measures while he opposed Joe Biden’s crypto mining tax proposal.
Equally noteworthy is the stance of Florida Governor Ron DeSantis, who expressed that the current administration appears to be conflicted with the crypto community, a war he is resolved to end, given the opportunity.
These discussions, despite being embedded with scepticism, pave the way for a larger discourse on the implications of CBDCs on the growth of the crypto industry and the potential shift in the balance of power.
Source: Cryptonews
