Erik Voorhees is many things: Bitcoin O.G., outspoken libertarian, and founder of the crypto exchange company-turned-DAO ShapeShift. He also hates the concept of central bank digital currencies (CBDCs) with a passion.

“No one who’s in crypto likes CBDCs. No one who understands the value of cryptocurrency likes CBDCs at all,” Voorhees said during an extensive conversation on Episode 2 of Decrypt‘s new gm podcast.

“It’s like all the worst aspects of fiat today in your bank,” he added, “plus Orwellian spy surveillance nightmare. And so, who is clamoring for CBDCs? Only people that want surveillance over their subjects. Those are the only people. Obviously this is why China is leading the pack in terms of adoption of CBDCs.”

‘Even worse’

Voorhees certainly isn’t the only person in crypto who feels there’s no compelling point to government-controlled cryptocurrencies, which don’t look markedly different from what the traditional finance world already uses today.

“People need to realize that fiat currencies are already digital. So the dollar is already a digital currency, the euro is already a digital currency,” he said, adding that moving to a CBDC is “kind of funny, because we sort of already have that.”

If anything, the ShapeShift founder added, it’s “even worse” than the current banking system, since CBDCs would have “greater surveillance capabilities over all the people using it.” (After all, that is the appeal of blockchains: transparent, public, with all transactions tracked 0n-chain.)

And yet, CBDCs continue their rise. China’s own CBDC, the…


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