Robert Sasu Slams CBDCs as “A Constant Colonoscopy”, Is He Right?

• Robert Sasu warns CBDCs threaten financial freedom, favoring stablecoins for privacy and decentralization.
• CTO Larsson says EU’s crypto stance led to USD-backed stablecoin dominance, now pushing CBDCs as a countermeasure.
• Mark Carney, Canada’s new PM, prefers CBDCs over crypto, citing financial stability but faces evolving global trends.

Robert Sasu, a core developer of multiversX, recently likened CBDCs to a “constant colonoscopy.” He argued that they represent control rather than freedom. Sasu emphasized that politicians, who value their privacy by using cash, are ironically promoting CBDCs for the public. 

He supports blockchain and cryptography-powered stablecoins, asserting they restore financial freedom and ownership rights. These digital assets, running on scalable chains, offer faster, easier, and instant settlements without centralized control. However, Sasu doubts the European Union (EU) will adopt this approach, suggesting that leadership must change to prioritize freedom.

CTO Larsson also critiqued the EU’s stance, highlighting its initial attempts to regulate crypto. This, according to him, inadvertently led to the dominance of USD-backed stablecoins, capturing 97% of the market. In response, the EU is now considering CBDCs as a countermeasure. 

In a comical way, Larsson likened using stablecoins to savoring red wine and French baguettes, while comparing CBDCs to having a colonoscopy. Although they both have comparable functions, stablecoins are easier to use.

Mark Carney’s Rise and Implications for Crypto

With Carney’s win in leadership, he took over as Prime Minister of Canada from Justin Trudeau. Carney worked as a governor of the Bank of Canada and the Bank of England.

Carney has been a vocal critic of cryptocurrencies, specifically Bitcoin. He earlier rejected Bitcoin’s limited supply, claiming it would cause deflationary economic impacts. In addition, he had doubts regarding stablecoins due to concerns over centralized power within technology companies. 

Carney instead advocated for CBDCs, arguing they promote financial security and system efficiency. He emphasized that stablecoins could fragment monetary liquidity, undermining the core role of money.

While Carney’s past statements suggest a cautious approach to digital assets, his current policy direction remains uncertain. Global trends may influence his stance. However, his leadership may signal a preference for regulated financial systems, favoring CBDCs over decentralized cryptocurrencies.