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CBDC stands for Central Bank Digital Currency. They're run by central banks such as the Bank of England (BoE), The Federal Reserve (Fed), The Bank of Japan (BoJ), and The European Central Bank (ECB) Central banks will be creating a monetary system with a single point of failure. It will be a honeypot for nefarious actors to steal and use that information against individuals, groups of individuals, or entire countries. With a CBDC, privatized banks are, in theory, no longer required.