Here's a copy of the article that's accessible on
Morningstar.
You have to view the article objectively and consider its origin. It was published on MarketWatch which is akin to saying the same through the Wall Street Journal and they're owned by the same company. To say he's preaching to the choir isn't a stretch but the absence of terminology reveals the demographic they're targeting. It was written for laymen.
Consider this selection.
Nowadays, technology makes it possible to issue "programmable money" with a special purpose, limited use, and even a pre-emption date. Such digital tokens could be used to prohibit "non-virtuous" consumption (such as alcohol or tobacco) by recipients of public assistance.
He doesn't call it by name but he's telling the truth nonetheless. They discussed it at the World Economic Forum years ago and described it as he did.
Digital currency isn't the same as cash. You can turn it on or off, apply restrictions and it's trackable. That's why they like it. The conversations we've heard thus far doesn't suggest it can be saved. They all mention an expiration date and we've heard nothing about sharing.
California has a pilot underway that can be used for transportation but that's all.
If advocates of bitcoin (BTCUSD) and other cryptocurrency see their vision of the future materialize, "smart contracts" will govern financial intermediation in a universe of decentralized finance. Some people even suggest that, in conducting monetary policy, sophisticated algorithms could replace central bankers.
There's no competition between cryptocurrency and central banks. If you didn't know that beforehand you may believe the latter is safe when they're the ones behind it. The solution to your 'concern' will be CBDCs aka the programmable money he described.
This is an example of nudging. It's designed to move the reader towards a specific point of view. By expressing his concerns regarding AI he's preparing them to welcome alternatives that appear less intrusive. You'll see more pieces like this.
Trump said, "To protect Americans from government tyranny, as your President, I will never allow the creation of a central bank digital currency.” The article informed you the technology exists and he confirmed it. Who will you believe?
Dow Jones was founded in 1882. They've been covering the financial sector for 142 years. If anyone knows truth they do.
~bella