IT’S THE LAW (08/23/2022)

CBDCs (aka Central Bank Digital Currencies) in your wallet may become the biggest threat to your privacy. Reason is, once financial transactions go digital, our activities can be fully tracked, A new Israeli law that’s about to cap cash transaction size in that country is the newest example of the push to use digital currencies worldwide. To date, more than 90 countries are exploring and expanding use of CBDCs. A newly issued report from Europe’s Central Bank explains the implications and looks at how CBDCs will impact business and privacy. Key Question: Can market forces and resounding demand from consumers for financial privacy ensure a desirable level of CBDC privacy? Absolutely not, this report notes, which is why we need to understand what this is about. This interactive tracker world map shows country status of CBDC adoption.

Read More

Read More – European Central Bank study

Read More – CBDC Interactive tracker

More News

Next Article

LexisNexis accused of violating law protecting immigrant data

August 23, 2022

Data broker LexisNexis is accused in a Chicago-area lawsuit of selling personal information on immigrants to federal law enforcement and other third-party buyers without consent. Data included correctional bookings and vehicle collision and license plate data. Immigration advocacy groups involved pointed to a $22 million contract that US Immigration and Customs Enforcement (ICE) has for a LexisNexis product that enables instant access to personal data without warrants or subpoenas.

CDPI Privacy Newsletter
Featured Article

Meta Releases Lying, Offensive AI and Pretends to Be Surprised

November 23, 2022

Like trouble, bad behavior by Meta shows up whether you look for it or not.  The latest is an open-source language model that was supposed to provide reliable search results because it was trained on academic papers.  Alas, it was quickly withdrawn after reviewers found that it returned results that were grammatical and plausible but also incorrect, not to mention filled with “antisemitism, homophobia, and misogyny.”  How can this be a surprise?

CDPI Newsletter