Bill Maurer, UCI professor of social sciences, writes, “But which is more likely to be dangerous in a Libra/WeChat/CBDC world, a world of stratified currencies operating in closed loops segregating people from one another into new castes? What is money, then? That is to say, what is money in a low-growth world shot through with new instabilities that will increasingly require welfare state apparatuses simply to allow people to continue to live but for which no one knows how to pay? And what is the alternative? Perhaps a money whose problems are solved not by more technology, but by more democracy.”

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