[GNC] Central Bank Digital Currencies (CBDC)

[LI Daobing]

CBDCs also can constrain the usage of money. like some money can only be
used to pay rent, and some other money can only be used to buy food.

On Thu, Dec 29, 2022 at 2:19 PM Dr. David Kirkby <
drkirkby at kirkbymicrowave.co.uk> wrote:

> Central Bank Digital Currencies (CBDCs) work on a blockchain like bitcoin,
> but are issued  central government bank. A pretty awful idea in my opinion,
> as the government can just freeze your assets, but some are already in
> existence, and it’s fairly obvious other countries will have them.
>
> Nigeria has the eNaira
>
> https://enaira.gov.ng/about/faq
>
> China is trialing a CBDC
>
>
> https://www.centralbanking.com/central-banks/currency/digital-currencies/7953418/chinas-cbdc-spending-surpasses-100-billion-yuan
>
> and, at least to Chinese media, they are widely used.
>
> The EU is looking into CBDCs
>
> https://www.e cb.europa.eu/”paym/digital_euro/html/index.en.html
>
> The UK too
>
> https://www.bankofengland.co.uk/research/digital-currencies
>
>
> The USA is looking at them too
>
>
> https://www.whitehouse.gov/ostp/news-updates/2022/09/16/technical-possibilities-for-a-u-s-central-bank-digital-currency/
>
> Unfortunately CBDCs are coming, and are already in use in the whole of
> Nigeria.
>
> I know GnuCash only supports currencies defined by some ISO standard, but I
> suspect that the CBDCs will be rolled out much quicker than any ISO
> standard will be revised.
>
> Are CBDCs something the developers will support, or will they just be
> considered the same as the currency they are supposed to be 1:1 backed
> with? Personally I would not trust them as much as the underlying currency,
> so would want to track them independently when they are inevitably bought
> into the UK.
>
> It seems the problem could be solved by allowing users to add additional
> currencies.
>
> Dave
>
>
> --
> Dr. David Kirkby,
> Kirkby Microwave Ltd,
> drkirkby at kirkbymicrowave.co.uk
> https://www.kirkbymicrowave.co.uk/
> Telephone 01621-680100./ +44 1621 680100
>
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> Registered office:
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-- 
Best Regards
LI Daobing