One World, One Currency: The Rise of a Digital Global Monetary and Social Credit System
Are we headed towards a one world currency and social credit system?
New York City, August 30, 2023 â The announcement of PayPalâs stablecoin, a digital currency pegged to the value of the US dollar, has sparked excitement in the financial industry.
However, some experts warn that this development could be a harbinger of a dystopian future where a single, global digital currency reigns supreme, controlled by a small group of powerful entities.
This grim vision is not mere speculation. In China, the government is already implementing a social credit system that links citizensâ financial activity to their social standing. The system uses data collection and algorithms to evaluate an individualâs adherence to certain values and behaviors deemed desirable by the ruling party. Those who toe the line are rewarded with perks like faster check-ins at airports and better loan terms, while those who donât face penalties like restricted travel and limited access to credit.
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