Today former U.S. Treasury Secretary Larry Summers spoke about central bank digital currencies at Consensus Distributed. In his, opinion central bank digital currencies (CBDC) should avoid becoming anonymous.
He believes that at the moment we have too much privacy with money. And he worked with the ECB to eliminate the 500 euro note. “All you had to know about those notes is that their nickname was the Bin Laden to know that they weren’t a very good idea,” said Secretary Summers.
Summers believes the last thing that governments should be doing is promoting anonymity. “Of all the important freedoms, the ability to possess transfer and do business with multi million sums of money anonymously, seems to me to be one of the least important freedoms that governments should be working to preserve,” he said.
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