The article discusses the opposition of cypherpunks, including Adam Back, to Central Bank Digital Currencies (CBDCs). CBDCs are seen as a threat to privacy, decentralization, and individual sovereignty, which are core values of Bitcoin. Back argues that CBDCs are a reactionary response by regulators to the rise of private-sector digital currencies like Facebook's Libra. He believes that CBDCs are a means for global elites to maintain control over financial systems and prevent the adoption of Bitcoin. Back and his company, Blockstream, are actively building alternative Bitcoin-based financial infrastructure to promote individual ownership and self-sovereignty. He believes that although institutional involvement in Bitcoin is growing, the majority of Bitcoin is still held by individuals, ensuring decentralization. Back sees opposition to CBDCs growing, as demonstrated by the Republican turn against them and Trump's announcement of a ban on their development in the US. He views CBDCs as part of a broader agenda of financial surveillance, social credit systems, and state control, which he opposes. Finally, Back emphasizes the importance of Bitcoin in promoting freedom and describes it as a renaissance for cypherpunk thinking.



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