Programmable Money Should Terrify You, According To Influencer Heilpern

Programmable money should terrify you, according to Layah Heilpern, a social media influencer and TV host who views central bank digital currencies (CBDCs) as a method for banks and governments to regain control over their people.

Heilpern, who also produced Undressing Bitcoin: A Revealing Guide To The World’s Most Revolutionary Asset in September 2021, claimed in an interview with British news site GB News on August 19 that the widespread adoption of a central bank digital currency (CBDC) by national governments is on the horizon, and that it might lead to financial censorship of individuals in the future.

Because CBDCs are effectively programmable coins that operate on blockchains, Heilpern believes they might be “programmed against you” at the whims of the centralized authority controlling them.

“If for whatever reason you say the wrong thing, because you know we’re seeing censorship increasing, then that money can essentially be programmed to be used against you.”

While many people may find this thought “very odd,” Heilpern says it’s highly possible given the limitations that governments have imposed on unvaccinated individuals:

“With a CBDC, all [the government] have to do really is program that money so you can’t spend it on certain things.”

Heilpern further stated that CBDCs would be sold as “better for the environment” and a “solution to increasing inflation rates,” but that this is a “lie.”

After the interview, she went on Twitter where she said that the energy that fuels your life is money, and because of that programmable money should terrify you.

Central Bank Digital Currencies will be marketed as better for the environment and the solution to inflation.

It's a lie.

Money is the energy that fuels your life; so programmable money should terrify you. @GBNEWS is the only UK platform talking about this. 👏🇬🇧 pic.twitter.com/AHulCEshNt

— Layah Heilpern (@LayahHeilpern) August 18, 2022

Notably, similar fears about financial censorship have been especially prominent with cryptocurrency in general recently, as seen by the recent Tornado Cash episode, which saw the US Treasury blacklist ETH and USDC addresses related to the Ethereum-based privacy tool.

According to a study published in October 2021, 110 nations are in some level of CBDC development, with the Bahamas’ Sand Dollar CBDC being the first of its type to be launched in October 2020.

But probably the most contentious CBDC is China’s “Yuan” (e-CNY), issued by the People’s Bank of China, which began its pilot version in April 2020, with some claiming the crypto prohibition was implemented to pave way for the digital Yuan.

The Bank of Russia has also initiated CBDC testing, with the goal of launching one before the 2024 presidential election.

Despite widespread criticism, CBDCs may provide developing countries with more macroeconomic stability than decentralized currencies, according to IMF Managing Director Kristalina Georgieva, because CBDCs have the “backing of the state” and are, of course, regulatory compliance.