News

Video About Biometrics Transaction Gets “Orwellian” Chill Among Crypto Fans

  1. A video showing a woman paying for her groceries triggered negative comments among crypto fans.
  2. The woman claimed to pay using her handprint at a Whole Foods store.
  3. Many crypto fans believe that further censorship is taking effect with the introduction of CBDCs.

A video circulating within social media communities triggered a negative response among cryptocurrency natives, including those who vote against the adoption of central bank digital currencies (CBDC).

Read CRYPTONEWSLAND on google news

In the video, a woman paid for her grocery items by simply presenting her hand to be scanned by a machine. It is not clear whether the woman had a microchip implanted in her hand or if the grocery store has a cutting-edge machine that stores and has access to a person’s bank details.

The woman did mention that she was at a Whole Foods branch, which coincides with the recent news that the grocery store is indeed rolling out its palm-payment technology soon. 

As seen in the post above, some likened the event — if it happens in the future — to an Orwellian nightmare. This refers to English writer George Orwell who is most famous for his dystopian book 1984 and satirical novella Animal Farm.

CBDCs never sat well with crypto fans for the fact that the first cryptocurrencies were created to deviate from the narrative being imposed by governments today. Many CBDC critics believe that the digital iteration of government-backed currencies will be a strong device for censorship.

Regardless, the crypto fan is divided in opinion on whether CBDCs are indeed evil that can be avoided or if their implementation is inevitable. What is more, many countries today are already trialing CBDCs, with China as the pacemaker.

Other countries are also hot on the heels of China, especially those that have partnered with US-based fintech firm Ripple.

Read Also :

Jesus Dawal

Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.

Recent Posts

Here Are 4 Of The Fastest Rising Stars In The Crypto Market (OP, DTX, ENA, AKT)

Discover the fastest-rising stars in the 2024 crypto market. Learn why investors are looking towards…

41 mins ago

Bitcoin Price Flirts With 66,000 Resistance While Algotech Presale Surges Past $4.7 Million

Bitcoin flirts with resistance around $66,000. #Cryptoinvestors turn to high-growth projects like #Algotech(ALGT), whose presale…

41 mins ago

Investor Made $46M with $3k Pepe Investment; Our Top List Of Potential 1000X+ Cryptos

A recent success story has taken the spotlight as an investor turned a modest $3,000…

53 mins ago

ShibaSwap Launches on Shibarium Boosting SHIB Token Burning

#ShibaSwap is now live on #Shibarium, fueling faster #SHIBtoken burning and enhancing the Shiba Inu…

56 mins ago

MakerDAO Unveils PureDai: A Decentralized Stablecoin Shaking Up the Future of Finance

Discover #PureDai, #MakerDAO's decentralized #stablecoin on #Ethereum, offering a free-floating peg & seamless upgrades for…

2 hours ago

FLOKI Outperforms NEAR, RUNE, IMX, and GME, Takes Top Spot on LunarCrush AltRank Amidst Major Kraken Listing

#FLOKI takes the top spot on #LunarCrush #AltRank beating out #NEAR, #RUNE, #IMX, and #GME…

3 hours ago