What is it like when your entire country uses a Digital ID system? Writing from Mumbai, Rita Banerji describes widespread chaos and misery under India’s Aadhaar system and points to towards an unprecedented control of the population by government and corporations alike. What are the lessons to be learned for Australia?
Pricewaterhouse Coopers (PwC) warned in its Global Economic and Fraud Survey 2022. Now, following the breach of confidential information that the Australian government trusted PwC to respect, it seems that the gamekeeper turned poacher.
According to the Reserve Bank of Australia (RBA) and Australian Bureau of Statistics (ABS) inflation is running at 7.8% (annualised) as the latest quarter ending December 2022, the fastest since March 1990. Given the RBA has an inflation target to keep consumer price inflation between 2–3% over the medium term, inflation is both uncomfortably high and unequivocally undesirable given the common-sense explanation that low and stable inflation is the basis for strong sustainable economic growth.
In the world of crypto and CDBCs, one man’s rort is another man’s value. Central to these concerns is the programmability of CBDCs, something critics say would reduce personal freedoms and pose security risks.