Today, in place of my regular Economics & Investing column, I’m posting my predictions for the nascent sovereign cryptocurrencies — now commonly called Central Bank Digital Currencies (CBDCs.) The CBDCs will use a variant of the blockchain technology that was first created for Bitcoin. But unlike private cryptos that use a fully distributed semi-anonymous network, control of the CBDC will be centralized and monitored. My predictions reflect my views on history, trends in governance, recognition of mankind’s sinful nature, certain chaotic variables, and some historical parallels. I may fall short in predicting some of the particulars, but I feel quite …
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