Would the totalitarian regime of Orwell’s novel 1984 have appreciated CBDCs? We asked ChatGPT the question.
What does ChatGPT think of CBDCs?
Question: Orwell’s dystopian novel “1984” describes a totalitarian regime using mass surveillance and repressive recruitment of the population to maintain its power. Would this fictitious regime have appreciated the capabilities of the CBDC and used it?
Here is the 5-point answer from ChatGPT :
“Orwell’s novel 1984 indeed represents a frightening version of a totalitarian regime that uses technology and psychological manipulation to control every aspect of citizens’ lives.
The concept of CBDC is essentially a digital form of fiat currency issued and regulated by a country’s central bank. It offers several possibilities that could correspond to the interests of a regime such as that described in Orwell’s story, particularly in terms of surveillance, control and direct intervention in the economy.
1) Enhanced surveillance and data collection
“A CBDC could allow a government to track all transactions in real time. In Orwell’s dystopian society, such a level of financial surveillance would fit perfectly with the Party’s desire to monitor and control every aspect of individual behavior. It could be used to ensure that no unauthorized transactions take place and monitor monetary flows for any signs of dissent or deviation from the norm. »
2) Financial control
“With a CBDC, the government could directly control individuals’ access to their money. This means that someone seen as a threat or non-compliant could have access to money restricted or removed entirely. This is a tactic consistent with the repressive measures employed by the regime in 1984.”
3) Programmable currency
“CBDCs can be designed to be programmable. This means that rules and conditions can be coded into the currency itself. For example, money could be scheduled to be spent only on certain goods or services, or within a specific time frame. This level of control could constitute a powerful tool for a regime wishing to dictate or influence the behavior and economic choices of its citizens. »
4) Elimination of anonymity
“Moving to a fully digital currency could eliminate the anonymity offered by cash transactions. In the novel 1984, the party’s goal is to eliminate any space for private dissent or unmonitored activity. Removing anonymous transactions would help close gaps in tracking economic activity. »
5) Direct economic intervention
“The CBDC would allow the direct and immediate implementation of monetary policy decisions on individual accounts. This would, for example, make it easier to distribute funds directly or impose negative interest rates to stimulate spending. Such direct control could be used by a regime to quickly implement economic measures. This corresponds to the efficiency and directness sought by the party to control Oceania.
These capabilities could theoretically improve the efficiency and stability of a nation’s financial system under a benevolent government. But in the hands of a totalitarian regime like the one described in 1984, they could be powerful tools of surveillance, control, and repression, extending the government’s control into the personal lives of its citizens even further than was previously possible. Orwell could have imagined. »
Unlike CHATGPT, yours truly thinks that the CBDC will be used to organize one-off rationings. The goal is to control inflation which will become more and more painful alongside energy scarcity.
But the main thing is there. Sam Altman’s AI believes that the CBDC could be a totalitarian tool worthy of the worst dystopian novels. Like Worldcoin?…
Bitcoin constitutes a counter-power that will protect humanity from its evil inclinations.
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