r/Glasgow Tools

First of all let me apologise I came of as a total cock in that first comment ! It was uncalled for. This is important and because a lot of people simply do not understand where this is headed, because they don’t get technology. let me explain this , what your doing in your iPhone / contactless payment system, is NOT a digitised pound it’s a ledger adjustment. The bank merely change ledgers that’s it. Direct debit, cheques all the same thing . You withdraw cash and no one can control that EXCEPT YOU , A digitised currency means that the Bank of England directly CONTROLS the flow and supply of the digitised token ( aka your cash) That token can be programmed, as easy as a flick of a switch. Imagine a situation where your bank has received an update on its network from the BoE to report back every transaction on their digitised token from your account ( for no reason whatsoever you’ve commited no crime your under no duress or investigation) but due to a financial “ emergency “ your prevented from making payments…. Say for example payments into your pension , or perhaps your moving money from an investment account and want to buy a physical investment…. One that the bank doesn’t think you should be buying, well if you like it or not they can hit the brakes and lock you out of your own funds. They can even program money to EXPIRE, your money simply disappears if you don’t spend it. Now that’s very much an extreme point of example , but The point im making is this, a digital currency gives someone somewhere a great deal of power, FAR TOO FUCKING MUCH POWER. I won’t give up my right to control my money.