#25 Untangling: CBDCs with John Velissarios (part 2)

In this episode of Untangling Web3, Alec Burns and Jack Davies delve further into central bank digital currencies (CBDCs) with digital finance expert John Velasarios.

The conversation focuses on critical issues like privacy and government control regarding CBDCs. The Bank of England's approach to CBDCs, emphasizing privacy and aggregate data collection over individual tracking, is a key talking point. Concerns about potential government overreach, such as access restrictions or account freezes, are also discussed, highlighting how these actions could undermine public trust in CBDCs.

The episode then explores the design and operational aspects of CBDCs. John describes CBDCs as instruments enabling peer-to-peer transactions without central authority approval, differentiating them from digital coupons. While central banks centrally issue CBDCs, their transfer in the marketplace is decentralized. The hosts contrast this with cryptocurrencies, noting CBDCs' legal tender status and backing by national entities, unlike the speculative nature of many cryptocurrencies.

The discussion broadens to consider the future of CBDCs, their regulatory needs, and their intersection with emerging technologies like AI and blockchain. John speculates on the possible convergence of CBDCs and AI in web three, envisioning a future where they facilitate direct value exchanges on digital platforms.

The episode concludes with a contemplative note on what a conversation with Satoshi, the mysterious Bitcoin creator, might reveal about the wider ecosystem of web three, inviting listeners to stay engaged with the evolving narrative of digital currencies and technologies.

Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at [email protected].

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The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.