CBDC - central bank digital currency

 Some people are worried about a CBDC (central bank digital currency).

They worry that the government can track how they spend the money - e.g. at places where they do not want other people to know.

They are afraid of "loss of privacy".

I find their fear to be exaggerated. If they think about the problem, they can find the solution.

Here is my reply.

a) Most of the transactions are for payments that are not confidential, e.g. payments for purchase of daily necessities, etc.

b) If payments have to be made anonymously, they can use an anonymous e-wallet. This e-wallet contain e-cash and can be used for payment. Nobody knows who is the owner of this anonymous wallet.

I have designed a system called the Tap Card. It allows an anonymous wallet to be created. Money can be transferred into this e-wallet to be used for paying by tapping the card.

The Tap Card have the option of identifying the owner (in case it is lost) or being anonymous.

The Tap Card can also be used by people who does not have a mobile phone to make mobile payment.

I mention the Tap Card just as an example of a solution to the privacy issue. However, most people do not mind using e-payment without hiding their source.

I am in favor of the CBDC and other forms of digital payment. I only want to explain that the fear and reluctance of "loss of privacy" is unjustified.

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