FBXL Social

How would digital currency programming with CBDCs be different from Bitcoin scripts and Ethereum smart contracts?

CBDC networks will be permissioned: only selected parties can deploy contacts and adjust spending conditions.

That sounds pretty different to me. With Bitcoin and Ethereum anyone can do that. Did you mean to write that you do think it will be different?

Also, do you have evidence for that? I thought permissioned means that there is an approved set of nodes, not necessarily users that can deploy contracts.

replies
1
announces
0
likes
0

Sounds like only speculation to me.

Well, I got “programmable money” from this article, which says that it could “[give] the issuer control over how it is spent by the recipient”. So that’s what I thought it meant. I think when it mentions the state it’s referring to benefits payments.

And as far as I know, you can do the exact same thing with, say, Bitcoin using scripts to require, say, that the output of the new transaction be to a preprogrammed address. Come to think of it, employers and the state could, if they wanted to, work with stores to do a similar thing with the current kind of money. I don’t know what’s stopping them from doing that now. Probably laws.

True.

I just remember reading all the talk about CBDCs and getting really scared. But not being able to verify it until I saw that article. And then I realised that you can do the same thing with decentralised cryptocurrency.

So, what can CBDCs do that that can't be done otherwise that we have hard evidence for? For instance, have the powers that be admitted anything?
Why would you say that you are for cryptocurrency but against CBDCs?
I may dig into what has been written about them at some point, but it's late now and I am in bed.

>monopoly over consensus
That's true. They would have that.