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The Digital Dollar: A Controversial Proposal by US Congressman Emmer

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According to reports, U.S. Congressman Tom Emmer said at an event on the risk of the Central Bank\’s digital currency (CBDC) that the digital dollar is \”a progr…

The Digital Dollar: A Controversial Proposal by US Congressman Emmer

According to reports, U.S. Congressman Tom Emmer said at an event on the risk of the Central Bank’s digital currency (CBDC) that the digital dollar is “a programmable currency controlled by the government and can easily be weaponized into a monitoring tool”. He said that the essence of CBDC is not only against the general cryptocurrency, but also against the basic values of the United States, such as privacy, personal sovereignty and free market.

U.S. Congressman Tom Emmer: CBDC can easily be weaponized into a surveillance tool

Analysis based on this information:


Recently, U.S. Congressman Tom Emmer made headlines with his strong opinion against the Central Bank’s digital currency (CBDC), specifically the digital dollar. According to reports, Emmer attended an event on the risks associated with CBDCs where he stated that a digital dollar would be a “programmable currency controlled by the government and can easily be weaponized into a monitoring tool.” This statement can be analyzed in various ways.

First, it is essential to understand the concept of a Central Bank Digital Currency. CBDCs are digital currencies that are issued and backed by the country’s central bank. They are recognized as official legal tender, just like traditional currency. CBDCs come in two flavors: retail and wholesale. Retail CBDCs are meant for the general public, similar to cash or traditional bank account balances. Wholesale CBDCs, as the name implies, is meant for financial institutions.

Emmer’s statement reflected his view that the primary essence of CBDCs is against the general principles of cryptocurrencies, privacy, personal sovereignty, and the free market. Cryptocurrencies are decentralized, meaning they are not controlled by any government or financial institution. In contrast, a digital dollar would be a centralized currency under government control.

Second, Emmer highlighted the risks associated with a digital dollar, including the possibility of monitoring the citizens. With a digital dollar, the government could track how individuals spend their money, including monitoring daily transactions, which would give the government an unprecedented level of control over its citizens. This could also increase concerns of people’s privacy, which is considered a fundamental right.

Lastly, Emmer argued that a digital dollar would be against the basic values of the United States, such as personal sovereignty and free market. A digital dollar would result in a centralized system controlled by the government, adversely affecting the free market.

In conclusion, Emmer’s statement reflects the ongoing debate surrounding CBDCs, particularly with regards to the digital dollar. While the concept of CBDCs has the potential to empower nations and create a more efficient financial system, it also raises concerns about privacy, personal sovereignty, and free market values. The government must consider the ethical issues involved carefully before proceeding with the implementation of the digital dollar.

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