The World Economic Forum (WEF) recently boasted in a new white paper that 98% of all central banks are now pursuing CBDC programs. CBDC programs will involve the tokenization of assets, or digital tokens that represent underlying assets like real estate, equities, digital art, intellectual property and even cash. The WEF report, titled ‘Modernizing Financial Markets With Wholesale Central Bank Digital Currency’ proposed two models for bringing tokenization into the monetary system that include 1) Bring CBDCs and tokenized assets on to a common unified ledger, a one world centralized digital currency system, and 2) pursue incremental progress by creating interlinking systems.
The WEF and the Bank for International Settlements (BIS) are acknowledging the difficulty of introducing such a system without opposition, so, they are recommending incremental introduction using “interlinking systems” (attaching CBDCs to paper currencies and physical contracts and then slowly but surely destroying those assets and making digital the new norm).
They need to eat a bag of dicks.