Haven1 Director: Ron DeSantis Proposal to Ban CBDC Could Do More Harm than Good

2023-07-21 13:56:13

Jinse Finance reported that in response to Ron DeSantis’ latest proposal to ban the US central bank’s digital currency (CBDC) after the election of US President, Akash Mahendra, director of the Haven1 Foundation, said that such a decision may do more harm than good. The digitization of money is inevitable, and CBDC will eventually be integrated into existing payment systems. Mixing pure politics with cryptocurrencies can do more harm than good. In essence, cryptocurrencies offer unique features that have just become possible, including immutability, privacy, transparency, decentralization, and scarcity, and are fundamentally different from CBDCs. Currency digitization is the future, and it is only a matter of time before CBDC is integrated into the existing payment system. However, if the US government decides to establish a CBDC, it should be based entirely on its technical advantages and advantages.

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