“Programmable money should scare you” – Layah Heilpern

Social media influencer and TV host Layah Heilpern said government-controlled “programmable currencies should scare you”, arguing that central bank digital currencies (CBDCs) are a way for banks and governments to control their people.

in a interview On Aug. 19, Heilpern released “Undressing Bitcoin: A Revelation Guide for the World’s Most Revolutionary Asset in September 2021” with British news outlet GB News, saying that countries are widely rolling out central bank digital currencies (CBDCs). way, and it could lead to future financial scrutiny of citizens.

Since CBDCs are essentially programmable cryptocurrencies that run on a blockchain, they could potentially be “programmed against you” at the whim of the central authority behind them, Heilpern said.

“If for some reason you’re saying the wrong thing, because you know we’re seeing an increase in censorship, that money can basically be programmed against you.”

Heilpern added that while many people may find the concept “very strange,” it’s very realistic given the restrictions the government has imposed on the unvaccinated:

“With CBDC, all [the government] All you really have to do is program the money so you can’t spend it on certain things. “

Heilpern also said that while a CBDC would be advertised as “better for the environment” and as a “solution to rising inflation,” this would be a “lie.”

Following up on the interview via a Twitter post, Heilpern made no secret of her words as she said “central bank digital currencies will be advertised as being better for the environment and tackling inflation. It’s a lie. Money is energy to fuel your life; so Programmable money should scare you.”

It’s worth noting, however, that this concern about financial censorship has been especially prevalent in cryptocurrencies, with the recent Tornado Cash debacle and the U.S. Treasury sanctioning ETH and USDC addresses associated with Ethereum-based privacy tools.

According to the October 2021 report, 110 countries are at “some stage” of CBDC development, and Sand Dollar CBDC in Bahamas is the first of its kind to be launched in October 2020.

But perhaps the most controversial CBDC is Chinese “Yuan” (e-CNY), Issued by the People’s Bank of China, its Pilot version launched in April 2020some believe the ban on cryptocurrencies is to make way for the digital yuan.

This Russian banks have also started CBDC testing And it plans to launch one before the 2024 presidential election.

But despite a lot of criticism, CBDC may provide more macroeconomic stability for developing countries According to IMF President Kristalina Georgieva, compared to decentralized currencies, CBDCs will be “backed by the state” and of course comply with regulatory requirements.