"Central bank digital currency (CBDC) experiments are flourishing across the world, with the Bank for International Settlements estimating that 90% of central banks are currently researching CBDCs, running multiple concepts or starting pilots
. Not satisfied with sitting on the sidelines of digital currency innovation, a private sector initiative called Project New Era recently launched a green paper, ?A New Era for Money?, calling for greater collaboration between central banks, regulators, commercial banks and other financial institutions on a UK CBDC....Retail payments: enabling domestic payments to address card and account transfer inefficiencies, along with programmable payments
Use cases for programmability inherent in a digital currency:
1) Ability to monitor and prevent criminals from using their currency
2) Program a part of issued currency to be restricted to essential goods. (ex: Only allow welfare benefit payments to be used for food/essentials.)
3) Can control movement of people in times of climate lock downs or any other necessary restrictions of movement by restricting the radius within which a person can spend money. (Ex: You can only spend money within 5 miles radius of your home or your digital wallet will be disabled. Maybe your cell phone alerting you to a perimeter warning.)
4) Meat shortage coming due to climate change, can limit how much of your money can be used on meat.
5) Can use in conjunction with carbon points/tax. Help regulate your carbon usage as tied to how you can use money. (Ex: Prevent people from flying if they already used up their carbon points, thereby helping to prevent climate change all for the greater good. People may be able to buy/sell carbon points on the open market of some type - carbon market - to make extra cash or to purchase the privilege of more air travel.)
6) Works well with digital ID/digital ration cards to designate how much of what a person can purchase, especially in times of shortages and to conform to climate change/carbon guidelines.
7) The digital ID wallet can be disabled or currencies can be made to expire to help dissuade people from protesting or otherwise voice opinions that may not be in line with what is expected for the greater good.
8 ) It can help prevent people from seeking the wrong information online that may agitate them. Monthly subscription to certain sites or other online services can be stopped and any purchases of literature online may also be prevented or limited through the programmable nature of the currencies.
9) Many more benefits for the currency issuer that will help them run things more smoothly and allow everyone to contribute and behave for the "greater good".