Bitcoin vs. CBDCs: Macro Expert Lyn Alden’s Take on the Future of Finance
Lyn Alden, a popular macro expert, has expressed her concerns about central bank digital currencies (CBDCs) in a recent interview with the David Lin report.
Despite the increasing adoption of centralized digital currencies, she claims she is “generally not positive” about CBDCs, citing their potential to give authorities “extraordinary control” over end-users.
Alden points out that CBDCs would centralize everyone’s usage of the public ledger, giving governments greater surveillance and control over financial transactions.
For example, governments could freeze funds more easily, make interest rates vary based on age or other activity, and even link a social credit score to individuals’ money, potentially leading to increased control over society.
While Alden understands why governments are interested in CBDCs, she believes that building open-source alternatives like Bitcoin is better.
According to the macro expert, Bitcoin, and other decentralized cryptocurrencies are counterweights to CBDCs because they provide a means of holding assets that cannot be confiscated by governments and are not subject to borders.
In her opinion, the future of money will be a choice between centralized and decentralized forms.
As society moves away from traditional banking, distributed systems will become more prevalent. Alden believes that the increasing trend toward greater financial surveillance and control makes CBDCs an end-game scenario, and she is, therefore, generally not positive about them.
In conclusion, Lyn Alden’s views suggest that CBDCs have their downsides, and while they may provide governments with greater control, they also have the potential to limit individual freedom. She believes that building open-source alternatives like Bitcoin is a better approach that empowers individuals and allows for more financial freedom.