He questions if CBDCs are "the final step into the brave new world - Orwellian great reset dystopia - we seem to be heading towards" or are they "the onramp to the Bitcoin motorway." He said the answer is "both." 

Frisby points out the biggest issue with CBDCs is that digital money is "programmable," which means the issuer, such as the Federal Reserve or the Bank of England, can build specific rules into it. He said cash grants users freedom and power.

Programmable money, such as CBDCs, means the user has even less control over their money. Frisby said almost any kind of rule could be coded into CBDCs. He provides an example of China mulling over the idea of expiry dates for its digital money. This means those holding the programmable money have to spend the money by a specific time or it disappears from their account. 

For those who aren't familiar with Chuck Palahniuk's 2018 "Adjustment Day" book, a similar concept of expiring money was detailed. Palahniuk is also the writer behind "Flight Club." 

Back to Frisby, who said issuers could manipulate money velocity by changing expiry dates. He said the money could be programmed to work only in certain areas or jurisdictions. He then warned:

"Every transaction ever made will be visible to the all-seeing government." 

Governments will know your whereabouts and habits at all times simply by tracking your use of funds through the CBDC payment system. This can already be done, to some extent, by tracking credit card transactions, but the CBDC system will make state surveillance more pervasive.