Tether CEO: CBDCs may evolve into a government surveillance tool

Golden Finance reported that Tether CEO Paolo Ardoino recently stated that Central Bank Digital Currencies could turn "money" into a tool for government surveillance. Tether is the issuer of USDT, the highest market capitalization stablecoin in the world. At the TOKEN2049 conference held in Singapore, Ardoino pointed out that governments around the world view CBDCs as a progressive financial innovation, but in reality, they may be used to control consumers rather than achieve so-called "financial inclusion." CBDC is a digital form based on the national legal currency, issued and controlled by a country's Central Bank. Unlike decentralized cryptocurrencies (such as Bitcoin), CBDC is fully centralized, and transaction records can be comprehensively tracked. Ardoino also mentioned that when he first heard about blockchain and Bitcoin, his feeling was "it's like inventing nuclear weapons - a powerful technology that could bring disaster if misused." He warned that CBDC could give government agencies complete oversight over digital currency transfers.