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South African banks roll out the central bank digital currency - Payshap - complete surveillance of your every purchase

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South African banks roll out the central bank digital cur...

Name: South African banks roll out the central bank digital cur...
Uploaded: 2023-09-01T02:08:45
Duration: 7 min

Scott Balson

7 months

5.3K Views

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Central Bank Digital Currency

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I have been talking about South Africa's new central bank digital currency (CBDC) for nearly a year - now Payshap has been incorporated into the current banking options for banks in South Africa like ABSA and Standard Bank. The promises are speed of transfer of funds while the hidden surveillance of everything you buy or money you receive is not mentioned - this will lead to restrictive use of your own CBDC money in years to come. Cash will soon be outlawed. In this video you will see Agustin Carstens the General manager of the Bank of International Settlements state this.