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For example, the notion of central banks issuing Central Bank Digital Currencies (CBDCs) is fraught with implications. While they promise enhanced control and flexibility, they also raise concerns about privacy and the embedding of systemic risk within a centralized structure.
Conversely, decentralized cryptocurrencies like Bitcoin aim to distribute power and control among all users, ensuring that no single entity can dictate policy or access. This tension between centralization and decentralization is a crucial theme in the ongoing evolution of blockchain technology and digital currency.