A digital pound on a Public Blockchain is the only way to end the CBDC surveillance fear program. And make an open door to push on for the digital pound. But why? Transparency, is why. There are 2 firms of transparency: 1) we recognise the state needs transparency of transactions to be able to trace and follow money laundering, fraud and other crime obviously 2) The People need transparency to be able to trace and follow the actions of the state That is all. Both simultaneously are only possible on a Public Blockchain core ledger. A private core ledger of any kind destroys this opportunity. Because the people will simply not trust anything less transparent. This is abundantly clear in the widespread narrative already capturing the people, as a fear program making a digital pound no more than a talking shop. We can resist what the people believe only in as much as the digital pound never gets adopted. Or we can think innovatively and push on that open door. # bankofe
Government say they need their CBDC to be transparent. That is to say, so that they can trace and follow crime on their new cash system. I don't have a problem with that so long as every citizen's privacy is maintained. But this is not the total extent of what transparency needs to be, if, government wants to make a CBDC work. For a CBDC to work fully, for both that nation and all its citizens, transparency needs to be in totality. What exactly do I mean by this? Government, having been misled by fintech for more than 5 years now, and having failed to deliver on certain promises in 2019 using crippled crypto protocols, no longer believe a CBDC can be done on chain. But do they know it all? For there is a blockchain (DL) protocol that has always been able to deliver. And fintech have deliberately hidden it from view. But its not about "my protocol is better than your protocol". It is about private blockchains which are what fintech has filed to deliver on for so long,