The Programmable State: The e-CNY and China's Quest for Smarter Surveillance -- Lawfare

[erronis]

https://www.lawfaremedia.org/article/the-programmable-state--the-e-cny-and-china-s-quest-for-smarter-surveillance

China’s digital yuan could set a global precedent for programmable money—and for state-controlled financial surveillance.

The e-CNY, China’s central bank digital currency, has significant implications for both Chinese domestic surveillance and U.S. national security. In this new research report, we explore how the e-CNY’s architecture—specifically its two-tiered system and programmability—enables smart contracts and enhanced tracking of financial transactions. The Chinese government promotes e-CNY adoption through incentives and integration with essential services, aiming to create a more “intelligible” and controllable economy.

We argue that the e-CNY carries substantial risks, including increased state surveillance, compromised privacy, and economic retaliation against foreign firms. While the e-CNY is currently focused domestically, it could influence global digital financial norms and reduce China’s reliance on U.S.-dominated financial infrastructure. U.S. policymakers should respond by prohibiting U.S. entities from using e-CNY, influencing standards for foreign CBDCs, and encouraging domestic digital finance innovation.

You can read the paper here or below:

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Expect the crypto-kleptos to be all over this technology. Not only stealing your money but have direct tracking of every transaction.

Soon it will be illegal to try and spend or receive real currency. Mark My Words.