The former president of the American Commodity Futures Trading Federation said that the United States should promote the rapid development of central bank digital money (CBDC) so that it is no longer a "regulatory currency", but a "random currency".

In a critical article published on The Hill on March 13th, Christopher Giancarlo said that the United States "must endanger" the rapid development of CBDC, using the current technology used in some digital currency agreements to safeguard "democratic values such as the right to freedom of expression and personal privacy."

Carlo in Jian County has been described as a "data encryption father" because of his position on data encryption, the founder of the Digital Dollar Project, which is dedicated to scientific research on the impact of CBDC in the United States. He detailed his concerns about privacy in a statement he wrote with API researcher Jim Harper in a statement for American Enterprise Institute, a Chinese think-tank on current policy.

He said that the U.S. Secretary of State must promote a "random currency"-a CBDC that ensures a relatively high degree of privacy.

Giancarlo and Harper make up lies in the article, and CBDC provides a good opportunity to "re-examine today's activities on the theme of financial supervision", which may enhance the maintenance of our constitution.

To achieve this, they say, CBDC can use cryptographic techniques such as "zero knowledge proof, homomorphic encryption and multi-party computing to verify that the data encryption problem is true without revealing potential information."

The author believes that this kind of technology will lead to the realization of "intelligent administrative law enforcement" in crime prevention.

First of all, the United States will be forced to rethink its current financial regulatory policy. In particular, the authors question a document recently released by the administration of US President Joe Biden:

A recent technical assessment of the implementation of the US central bank's digital money system by the White House Science and Technology Policy Company Office shows that financial regulation in Western countries is more like China's strict regulation than many people want to recognize.

They said that the OSTP document showed that "it is not willing to exceed the abnormal financial supervision and regulation system in our constitution today."

Giancarlo and Harper highlight the problems with OSTP's proposed compliance management (AML) and awareness of your customer (KYC) responses, saying that these measures can be overregulated without a formal basis.

In their view, if the privacy of CBDC is difficult to guarantee, it is likely to be used as in China.

There, in their view, the rmb, an electronic device, will allow the Chinese government to combine political obedience with personal prosperity and reduce the power of political dissidents to poverty, based on letting the people's Bank of China see all the deals.

The authors' ideas have a lot in common with the anxiety expressed by US congressman Tom Emmer, an outspoken reformer of the US CBDC who introduced the CBDC Anti-Surveillance Act in 2022.

Emmer expressed anxiety about CBDC, which "tracks trading-level data to the average user" and can be programmed to "obliterate unpopular theme activities in politics". Emmer is the current chairman of the Joint Action Group of the blockchain Technology Core Group of the U.S. Congress.