G20 Paves the Way for Digital IDs and Currencies and are Prompting Concerns
Shared By Peter Boykin – American Political Commentator / Citizen Journalist / Political Candidate
G20 Paves the Way for Digital IDs and Currencies and are Prompting Concerns
G20 Paves the Way for Digital IDs and Currencies and are Prompting Concerns
G20 leaders recently convened in New Delhi, where they reached an agreement to lay the groundwork for digital currencies and digital IDs within their respective nations. However, this plan has sparked legitimate concerns among critics who worry about the potential implications for government surveillance.
Understanding the G20: The G20 serves as a forum for 19 countries, including the United States, along with the European Union, to engage in discussions on global economic issues and policies.
The Blueprint: During their meetings in New Delhi, world leaders endorsed a final declaration aimed at establishing international infrastructure to facilitate the adoption of digital currencies and IDs.
Digital IDs: European Commission President Ursula von der Leyen advocated for the creation of global digital ID systems similar to the EU’s COVID-19 digital certificate.
Digital Currencies: Indian Finance Minister Nirmala Sitharaman emphasized the necessity of international cooperation in regulating crypto assets.
Trends in Motion: Notably, the European Union is actively working on the development of a “digital identity” app that would encompass citizens’ passports, driver’s licenses, and medical information.
Privacy Concerns Loom: Critics argue that the shift towards digital currencies and IDs could open the door to increased government monitoring of financial transactions and individual movements, potentially leading to a Chinese-style social credit scoring system.
Public Opinion: A recent survey reveals that a mere 16% of Americans support the implementation of government-backed digital currencies. While 36% oppose the idea, a significant 49% have yet to form an opinion on the matter.
The move towards digital currencies and IDs is raising significant concerns regarding personal privacy and government overreach. It remains to be seen how these developments will be received by the public and whether they will ultimately be implemented on a global scale.
[Source: Zero Hedge, CATO poll]
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