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Moreover, the features of a CBDC could significantly curtail personal liberties. For instance, it may involve real-time transaction tracking, where the government has detailed insights into every transaction. Additionally, characteristics such as expiration dates on digital funds could hinder individuals' ability to save, forcing them to spend their currency within a designated timeframe.
A Call for Readiness
Lagarde’s announcement signals that a major financial reset is on the approach, thereby raising crucial questions about people's readiness to adapt to these changes. As discussions around CBDCs grow more pronounced, the potential shifts in personal financial management and government oversight are becoming increasingly evident.