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The New Danger for Civil Liberties in Cashless Societies: State-Sponsored Digital Currencies

Published

3 years ago

December 22, 2021

Norway’s central bank recently announced that it will begin the technical testing of a central bank digital currency (CBDC). The country has been researching this idea for over four years and says testing could take at least two more years. As one of the world’s most cashless economies, a digital currency could move the country one step closer towards eliminating the use of physical cash.

But Norway is not the only country toying with the idea of a CBDC. The growth of cashless payments has made our personal data more easily accessible and CBDCs would further enhance the reach of governments. This is potentially dangerous for civil liberties across the world. Cash is the only means of payment that does not provide governments and private companies with data about our financial transactions and spending habits.

Cashless Payments Create Data

Cashless payments provide a certain convenience for users, but they are also gold to private companies and governments. Each transaction creates data that companies use to target advertising, decide if someone should receive a loan or determine how high to set insurance premiums. Some believe that since they have nothing to hide, this is no big deal. But this collection of personal data is an infringement on people’s right to privacy.

Government officials that want access to a citizen’s financial transactions typically need to submit a formal request to private companies. This information might include details about donations to opposition parties and financial aid received by protestors. In some countries, sharing such knowledge can be life-threatening.

Under authoritarian regimes, asking for this information is merely a formality as companies have no choice but to hand over data if they want to continue operating in the country. However, it is at least a slight hoop that governments must jump through. But governments, autocratic and democratic, might have found an even more direct way to access financial transactions and spending habits.

Central Bank Digital Currency (CBDC)

Approximately 50 monetary authorities, including the EU and the U.S., are currently exploring the idea of developing a national CBDC. In October 2020, the Bahamas became the first country to introduce digital money. With this type of digital currency, people deposit money to an account with a central bank and make digital payments using an app or online payment platform resembling Venmo or Alipay.
This essentially cuts out private banks and eliminates the risks associated with financial institutions (think, the 2008 financial crisis), but CBDCs come with different dangers. Putting online banking in the hands of the government could give the State free, unfettered access to the personal finances of all its citizens. As John Howland Cochrane, economist and professor at Berkeley, threatens, “With digital money, the government could view any financial transaction and obtain a flow of information about personal spending that could be used against an individual in a whole host of scenarios.”

Most countries probably have good intentions for pursuing a CBDC. Others, particularly autocratic countries, might be looking for another way to control and track citizens. Regardless of the intentions, civil liberties are at risk.

China Takes the Lead

China is the first major economic power to begin testing a central bank digital currency (CBDC). The Chinese Communist Party (CCP) first began pursuing a digital currency in 2014, claiming that it would be a better option for cashless payments since transactions could be conducted offline via Bluetooth. The CCP has rolled out ambitious testing in major cities this year and has hosted lotteries with prizes paid in the new e-yuan. As of last month, the digital yuan, or e-yuan, has 500,000 trial users. Goldman Sachs estimates that within the next decade, nearly 1 billion people could be using e-yuan, but Citic Securities believes it will take at least several years for the digital currency to replace only 10% of China’s physical cash.

Most importantly for the CCP, the e-yuan adds an additional tool to the surveillance techniques already used to track its citizens’ every move. The Washington Post reports that this centralized digital currency would create “the world’s largest repository of financial transactions data, allowing the authoritarian CCP unprecedented access to ramp up surveillance of ordinary citizens.” This threatens civil liberties as financial transactions would be under CCP control, enabling them to sanction or freeze the accounts of activists or dissidents at-home or living abroad.

The CCP could also require foreign companies or investors to use a certain percentage of e-yuan for transactions, thus giving them eyes on commercial dealings. Or the digital yuan could be used to avoid U.S. sanctions and provide financial support to other internationally sanctioned regimes. China’s plans for a CBDC are underway and pose a new threat to human rights and civil liberties within, and outside, the country’s borders.

Protecting Cash Protects Civil Liberties

As Asian startup specialist, e27, observes, “Cashless economies, where transactional data is digitally recorded and accessed by companies and governments unbeknown to the users, is becoming a serious infringement on our basic privacy rights.” Indeed, cashless payments and CBDCs generate data that governments and companies use to control and shape society through propaganda, advertising and surveillance.
With this collection of information, cash remains the safest form of money and is the only transaction that is actually anonymous. As governments across the world use surveillance on citizens, Cashless Economy argues that, “Cash remains the only economic medium to guarantee complete privacy and protection from governmental abuse.”

Modernity Means Options

CBDCs have been hailed as the modern version of cash, but modernity does not mean we need to abandon our right to privacy and the protection of our civil liberties. Contrary to what financial institutions and some public officials want you to believe, cash is not antiquated and still has its place in today’s economy.

Technological advances are useful because they provide additional options without necessarily eliminating more ‘traditional’ methods. Owning a microwave does not mean people no longer use stovetops. Each has an appropriate time for being used – as is the case with cash and cashless payment options. As The Economist notes, “For years to come, central banks will continue to provide banknotes alongside e-wallets, recognising that many people still want to hang onto hard cash or are simply unable to use smartphones.”

CBDCs have advantages, as do other cashless payments, but cannot be the only options. Many people are uncomfortable knowing that private companies can sell information about which vacuum or dish soap they prefer and that governments know which political candidate they donated to. Cash is the only option that provides anonymity and the comfort that Big Brother is not tracking your every move. Protecting the right to use cash means protecting our civil liberties.

Related Topics:Civil Liberties Digital Currencies

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AI Startup Anthropic Nears $3.5 Billion Funding Round

Published

1 month ago

February 25, 2025

Archana Suryawanshi

AI Startup Anthropic Nears $3.5 Billion Funding Round

Anthropic, a leading AI startup, is on the verge of securing $3.5 billion in a fresh funding round that could push its valuation to $61.5 billion, according to sources familiar with the matter.

The company, known for developing the Claude chatbot, is reportedly attracting investments from major venture capital firms, including Lightspeed Venture Partners, General Catalyst, and Bessemer Venture Partners.

This funding round surpasses the $2 billion target Anthropic was previously reported to be seeking last month. The surge in investor interest highlights the growing appeal of AI-driven enterprises, with nearly half of all U.S. venture funding in 2023 flowing into artificial intelligence startups.

The strong financial backing also emphasizes the dominance of U.S. AI firms, even as Chinese alternatives like DeepSeek emerge with cost-efficient models that have caught the attention of some investors.

Meanwhile, OpenAI—the company behind ChatGPT—is also in discussions for a substantial funding round that could elevate its valuation to as much as $300 billion, as reported by Reuters.

Anthropic, co-founded by former OpenAI executives Dario and Daniela Amodei, had previously achieved a valuation of around $18 billion following a funding round led by Menlo Ventures last year.

In addition to its fundraising efforts, the company recently introduced Claude 3.7 Sonnet, an advanced AI model designed to enhance response speed and improve step-by-step reasoning. This move aims to strengthen Anthropic’s position in the competitive generative AI landscape.

The funding round was first reported by the Wall Street Journal, while Anthropic has yet to comment on the ongoing investment discussions.

Business

Level Up Your Digital Game with DigiRoads – Training, Strategy, and Success

Published

1 month ago

February 24, 2025

Brand Buzz

Jaipur, India – February 24, 2025 – In the ever-evolving digital world, staying ahead requires more than just theoretical knowledge—it demands hands-on expertise, strategic execution, and real-world application. Recognizing this need, DigiRoads has emerged as a leading force in digital marketing education, offering cutting-edge training programs designed to equip learners with industry-driven skills. Whether you are an aspiring marketer, a business professional, or an entrepreneur, DigiRoads empowers individuals to master digital marketing strategies that drive tangible success.

DigiRoads: Where Learning Meets Real-World Implementation

With the rapid expansion of the digital economy, the demand for skilled digital marketers has skyrocketed. Companies are constantly looking for professionals who can optimize campaigns, analyze data, and execute marketing strategies effectively. DigiRoads was founded with a mission to bridge the gap between conventional education and real-world application, ensuring students not only understand marketing concepts but also implement them through practical training and live projects.

From Humble Beginnings to a Digital Powerhouse

Laying the Foundation: Building Expertise & Delivering Results

DigiRoads was founded in 2015 by two visionary BITS Pilani alumni, who sought to revolutionize digital marketing education. The early years were focused on helping businesses enhance their digital presence through SEO, PPC, and social media marketing.

During this period, DigiRoads achieved:

SEO Excellence: Ranked over 200+ websites on the first page of Google, boosting organic traffic for businesses across industries.
PPC Mastery: Created high-performing ad campaigns that tripled ROI for startups and established enterprises.
Social Media Growth: Launched viral marketing campaigns that increased audience engagement by 150%.

These achievements positioned DigiRoads as a trusted digital marketing partner for businesses seeking data-driven strategies and measurable growth.

The Rise of DigiRoads Classes

As the demand for skilled digital marketers surged, DigiRoads took a significant step in 2023 by launching DigiRoads Classes, a career-focused training institute designed to provide hands-on learning experiences. Unlike traditional training programs that focus only on theory, DigiRoads Classes ensures students actively implement strategies on live projects, preparing them for real-world marketing challenges. The institute offers specialized courses, including SEO Course, PPC Course, Social Media Marketing Course, Performance Marketing, Content Marketing, and Web Analytics. Each program is tailored to industry standards, equipping students with the most in-demand skills.

Since its inception, DigiRoads Classes has successfully trained over 500+ students, many of whom have secured high-paying jobs, internships, or started their own digital marketing agencies. The impact of the courses extends beyond professional growth—students experience enhanced critical thinking, analytical skills, and creative problem-solving abilities. The positive side effects include improved confidence, strategic mindset development, and the ability to adapt to fast-changing digital trends. With expert mentorship, industry-recognized certifications, and job placement assistance, DigiRoads Classes continues to be the top choice for digital marketing aspirants looking to excel in this competitive field.

Shaping Careers with Industry-Driven Projects

DigiRoads has transformed businesses while providing students with the best digital marketing course in Jaipur for real-world marketing exposure. Some of its most impactful projects include:

1. E-Commerce Brand Success

Boosted website traffic by 400% within six months using SEO and targeted PPC campaigns.
Increased online sales fivefold through performance-driven marketing strategies.

2. Real Estate Digital Expansion

Designed a lead-generation strategy for a real estate firm, resulting in a 200% increase in customer inquiries.
Leveraged Facebook & Google Ads to drive high-intent leads and improve retention rates.

3. Healthcare Digital Growth

Developed an SEO-driven content strategy that ranked a healthcare startup in the top three search results for competitive keywords.
Achieved a 60% increase in patient bookings through advanced digital advertising.

Key Achievements

80%+ job placement rate for DigiRoads Classes students.
Trained 500+ professionals, equipping them with real-world marketing expertise.
Helped businesses generate 2+ million organic visitors through advanced SEO.
Executed social media ad campaigns that reached millions of users, significantly boosting brand engagement.

Why Choose DigiRoads?

Unlike traditional training programs, DigiRoads focuses on real-world execution. Students don’t just study digital marketing—they apply it through live projects, hands-on mentorship, and performance-driven learning.

What Sets Us Apart?

Live Digital Marketing Projects – Gain direct experience running SEO, PPC, and social media campaigns.
Industry-Curated Curriculum – Learn from seasoned marketing experts who bring the latest industry insights.
Expert Mentorship & Personalized Training – One-on-one guidance from professionals with years of practical experience.
Internship & Placement Support – Strong industry connections that help students secure internships and job placements.
Industry-Recognized Certifications – Boost career credibility with certifications that employers value.

DigiRoads is committed to producing skilled digital marketers who can excel in the competitive job market. Our structured digital marketing course in Jaipur ensures learners develop a strong foundation in SEO, PPC, content marketing, web analytics, and more.

Start Your Digital Marketing Journey Today!

Whether you are looking to start a career in digital marketing, upgrade your skills, or enhance your business’s online presence, DigiRoads offers the best digital marketing course in Jaipur tailored to industry demands.

At DigiRoads, we don’t just teach marketing—we help you implement strategies that drive real results. Join us and take the next step towards becoming a digital marketing expert.

Visit www.digiroadsclasses.in or email us at info@digiroadsclasses.in for inquiries. Call us at +91-8971129995.

Business

Flipkart Offers Huge ₹26,000 Discount on Google Pixel 9—Grab the Deal Now!

Published

2 months ago

February 20, 2025

Archana Suryawanshi

Flipkart Offers Huge ₹26,000 Discount on Google Pixel 9—Grab the Deal Now!

Tech enthusiasts looking for a high-end smartphone upgrade can now grab the Google Pixel 9 at an unbelievable discount on Flipkart. The e-commerce giant is offering a massive price cut on the flagship Pixel 9, making it a great opportunity for buyers to own this premium device at a much lower price.

Google Pixel 9 Discount Details on Flipkart

The Google Pixel 9 was originally priced at ₹79,999, but Flipkart is now offering the device for ₹74,999, giving an instant discount of ₹5,000. However, additional offers can further lower the price by a significant margin.

Additional Bank Offers

Flipkart is providing additional discounts through select bank offers:

HDFC Bank Credit Card EMI Transactions: Customers using HDFC Bank credit cards for EMI purchases can avail an extra ₹4,000 discount, bringing the effective price down to ₹70,999.

Exchange Offers: Get Up to ₹38,150 Off

One of the biggest attractions of this deal is Flipkart’s exchange offer, allowing users to trade in their old smartphones for an additional discount. Depending on the model and condition of the exchanged device, buyers can get a discount of up to ₹38,150. If the maximum exchange value is applied, the effective price of the Google Pixel 9 can drop to as low as ₹32,849.

Google Pixel 9 Specifications

For those considering the Pixel 9, here’s a quick look at its top features:

Display: 6.3-inch OLED with high refresh rate
Processor: Google Tensor G4 for enhanced performance
RAM & Storage: 12GB RAM, 256GB internal storage
Rear Camera: 50MP (main) + 48MP (ultrawide) dual-camera setup
Front Camera: 10.5MP for high-quality selfies
Battery: 4700mAh with fast charging support
Software: Runs on the latest Android 15 with guaranteed updates for 7 years

The Pixel 9 is available in multiple color variants, including porcelain, obsidian, Peony, and wintergreen, giving users stylish options to choose from.

How to Avail This Offer on Flipkart?

To grab this deal, follow these steps:

Visit Flipkart: Go to Flipkart’s official website or app.
Select the Google Pixel 9—choose your preferred color and variant.
Check for Bank Offers: Ensure you apply the HDFC Bank discount if eligible.
Opt for Exchange (if applicable): If you have an old smartphone, select the exchange option and check the discount available for your device.
Proceed to Payment: Complete the transaction and enjoy your new Google Pixel 9 at a heavily discounted price.

Is This the Right Time to Buy?

With a massive discount of up to ₹26,000, this Flipkart deal makes the Google Pixel 9 an irresistible buy for those wanting a premium smartphone with flagship-level performance, AI-powered cameras, and Google’s software experience. If you have been considering an upgrade, now is the perfect time to grab the Pixel 9 at its lowest price yet.