Getting rid of cash also requires proper paper work and identification so you can sign up for the CBDC wallet. In that case you're excluding the very people from the system who need it the most.
Also it would make welfare more efficient, as you can garnish earnings from citizens to repay back the debt, whereas now it's just a gift.
Will that come with the healthy interest rate one could never hope to repay?
For example, friends lend each other money without usury simply because the "interest" comes from helping a friend.
Similarly, the central bank which is an agent of the government fulfills its interest by having healthy citizens. So there probably wouldn't be usury.
Instead, earnings from the citizen would be garnished if they had debt.
Once CBDCs become a thing, citizens should have the ability to have direct credit relationships with the central bank.
We can then transition from a cash based monetary system to an accrual based one (similar to how businesses do their accounting.)
Public benefits, then, rather than being given out like it is currently (e.g. you get $200 for food stamps) will instead be based on allowing you to draw credit.
So, the eGovCreditCard would for example always allow any citizen to draw $200 per month for food expenses.
Potentially, if we want to do more generous policies a la "UBI," we could add e.g. $1000 always being allowed per month for rent.
Health care similarly, instead of if the archaic and very inefficient system we have now where those on the dole often go to emergency rooms, money is funneled through "insurance", etc... would allow you to draw money for regular doctor care. Maybe at a set maxiumim limit per citizen, e.g. $1M.
I'm sure homeless people have more pressing thoughts than what words nerds on the internet use to describe outdoor living
Ah, yes, the coupon cutters that would spend all of their free time trying to get a deal. But if they were happy doing it, then who am I to judge.
For the owners in thread, maybe someone can explain to me the LTE modem requirement of the hardware. WiFi I get (easier to transfer records/video/data), but as someone still tooling around in a 2010 Honda and reluctant to buy into modern spyware-equipped vehicles, I’m wary of adding anything with cellular connectivity that could “phone home” without my consent. If the comma is fully self-contained and wholly offline, then that’s a huge selling point for folks like me who want privacy in our vehicles and a non-networked device that’s harder that’s harder to compromise remotely, and it’d definitely influence my future purchasing decisions so my vehicle choice supports these sorts of aftermarket modules.
One other suggestion (and honestly something I ought to write an essay on at some point): stop using Discord for support/community stuff. I’m seeing a lot of companies offload their forums/socials/support into Discord, and while I see the appeal on paper it’s not ideal for those of us who want to compartmentalize interactions based on goal (e.g., socialization vs vendor support). Just a personal nitpick of mine coming from some degree of community support background and well aware of Discord’s flaws and privacy shortcomings.
Nordics have only recently become democracies, <100 years ago.
To clarify, the context of the discussion was the resiliency of democracy, not some dick measuring contest of which country is presently more democratic.
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