The chief executive of San Francisco-based crypto exchange Okcoin thinks government control of the blockchain via central bank digital currencies (CBDCs) could lead to a dystopian world.
In a new interview with broadcaster David Lin, Hong Fang says that she “loves” Florida’s recently passed ban on CBDCs.
The Okcoin CEO argues that the issuance of a CBDC is the government’s way to control the lives of private citizens.
“It’s control โ it’s controlling everything. Once the government is controlling it, it’s very hard to give back control, so I think we have to be very careful about that.
Blockchain increases transparency, and once you actually include the money piece into that, and then put that under government control, we basically get the evil of two worlds, right?”
Fang argues that Bitcoin (BTC), by contrast, is all about giving individuals more freedom and control.
“Technology is giving that empowerment to individuals. It’s giving the tools to individuals and freeing us from corporations…
But money is the ultimate layer. If money can be controlled, it’s kind of desperate, and you can actually see that in other parts of the world, in some other parts of the world where the money is under control… it’s dystopian.”
I
Don't Miss a Beat โ Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Dystopian World Could Emerge From Government Control of Blockchain via CBDCs, Says Okcoin CEO appeared first on The Daily Hodl.
