“Britcoin CBDC” more likely to be harmful than beneficial to the UK : Survey

A survey was made among the British people and it resulted out that most of the adults feel that Centralized CBDC is less beneficial.

A survey made on the 2500 adults of British adults in the early of August 2021. This survey shows that most adults are not in favour of the central bank digital currency. Around 30% of adults say that CBDC is less beneficial for the UK government but more harmful for us. 

“30% of participants believe that a “Britcoin” CBDC is “more likely to be harmful than beneficial to the UK”

While 24% of adults believe that CBDC will bring beneficial results for the government. While 46% majority of the participants said that they cannot say anything on this matter whether it will be beneficial or not.

Survey also revealed that around 70% of the participants are feeling privacy & safety issues. They find that lots of hacking or cyber attacks and privacy of their data is a big concern. And around 62% of them believe that there are huge chances that the government can seize their money easily through digital currency adoption.

“concerned about the threat of hacks and cyberattacks, 70% about users’ privacy, 62% about the government being able to seize their money, and 45% about the environmental impact.”

This survey was conducted to see the response, expectations & what people think about the adoption of the CBDC. This will be the first time when the government of the U.K will bring CBDC issued by the Central Bank of UK. 

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