According to the BIS, the mBridge ledger is a "new native blockchain", "custom-designed and developed by central banks for central banks, to serve as a specialized and flexible platform implementation for multi-currency cross-border payments." This expansive blockchain technology will tie the world's central bank system into a monolithic structure of financial control.
Technocracy and Communism have been enemies since the early 1900s, so it is a misnomer to call today's global transmogrification technocommunism. I addressed the distinctives between Communism and Technocracy in Day 4 of my series, The Twelve Days Of Technocracy: Technocracy Vs. Communism/Socialism, Fascism.
If "the fish rots from the head down", then look no further than the Bank for International Settlement for the rapid implementation of CBDCs throughout the world. The chart below is likely out of date, with much more development having been conducted since the data was collected. The CBDC network is the chosen monetary system for the other side of the Great Reset.
They asked for public comment. The overwhelming majority said to stuff it. In defiance of public sentiment, the response is "the European Commission will need to step up their efforts to better explain to its population how a digital euro works, to demystify some beliefs, and perhaps to show the benefits of a digital euro."
Fintech is the chosen financial system for Sustainable Development. Today's cryptocurrencies will be completely driven out of existence by Central Bank Digital Currencies (CBDCs) which collectively serve to "build trust in sovereign currencies." Technocrats will not allow the existence of things they cannot control, so unfortunately, crypto's days are numbered.
As I have said, when the Federal Reserve created its own digital currency and accepts its first consumer deposit account, the U.S. Treasury will be obsoleted and Congress will lose all control over creating money and coinage. This means that one private banking monopoly controls the entire monetary system.
The promise of of convenience and security are overshadowed by the massive hoovering up of personal biometric data along with all financial transactions. In short, Mastercard has entered the age of Surveillance Capitalism where it will sell its surplus data to the highest bidders.
The BIS in Basel, Switzerland is the central bank to central banks all of which represent a giant vampire squid on planet earth. When CBDC accounts are opened directly by the public, the U.S. Treasury will be obsolete and powerless, as will our Congress that has responsibility to coin money. This means total control over currencies by one monolithic structure that sits out of reach from all governments.
Technocrats who are driving the move toward a cashless society could care less about the human displacement and hardships that would be created. No matter what Technocrats tell you about the inevitability of a cashless society, it is pure propaganda to trick you into going along.
There is nothing good about implementing a global or national digital currency because it is the railroad to digital tyranny and total control. Many people will welcome their slavery in return for bread and circuses, but it's not like they were not warned beforehand.
