The IMF’s Spring Meetings this year saw the announcement of the organization’s own, “international central bank digital currency” called the Universal Monetary Unit (UMU, aka Unicoin).
More criticism has to do with CBDCs being seen as a way of introducing social credit scores and digital IDs, thus having individuals fully ceding to the government control over their own assets and/or the amount they spend.
Unlike cash and decentralized crypto, CBCDs are feared to spell the end of private financial affairs, and usher in even more surveillance by the authorities.
IMF Unveils Unicoin – a Global CBDC
Apr 12, 2023 2:53 pm