Kitco News, Released on 7/2/21
Digital, state-issued currency is the “inevitable” next step of our economic evolution, says Cameron Chell, executive chairman of CurrencyWorks, who concedes it can be a “scary proposition.”
Speaking to Michelle Makori, editor-in-chief of Kitco News, Chell said that digital dollars, which fundamentally function differently a dollar that is digital, will eventually be adopted by governments.
“Ultimately, it is much more convenient for people to use it as well, so I think adoption is going to become inevitable as well, but if we are not careful with our policies and our laws, we are in for a controlled society,” he said.
0:00 – Central bank digital currencies
5:24 – Total government control
8:45 – Move towards a cashless society
13:11 – Could digital dollar cause chaos abroad?
17:32 – Can CBDCs be hacked?
18:55 – The end of cryptocurrencies?
23:35 – Dollar vs. Yuan as global reserve currency
Follow Michelle Makori on Twitter: @MichelleMakori (https://twitter.com/MichelleMakori)
Follow CurrencyWorks on Twitter: @CURRENCYWRKS (https://twitter.com/CURRENCYWRKS)