Yesterday, at the Blockchain Expert Conference, we addressed questions that were at the heart of public discourse. What kind of economic world will you live in over the next few years, rather than the app you pay tomorrow morning?
This is no longer a distant reality. It is an emerging reality that is happening in our world, whether we know it or not.
The conference was not only a stage of technical dialogue, but also the setting of deep questions about the structure of power in the world of freedom, responsibility, and finance.
Bitcoin was designed from the start to work without the need for trust, including full transparency, open code, and fully decentralisation.
It gives individual real control over their money. Conversely, CBDCs such as digital shekels and digital euros continue to use the Fiat model.
In reality, this means living under strict control, with no traces of privacy and approval of any movement is required.
Stablecoins have become a popular bridge between the old and new worlds. The market capitalization is over $265 billion, with over $100 billion in daily use, and is projected to reach $2 trillion by 2028.
They are convenient and robbed of the dollar and save people in a crisis economy. But they are centralized and rely on private companies and regulatory authorities.
In fact, they are digital arms of the dollar. The US genius law defines them as domestic infrastructure assets. They must be fully supported, audited monthly and fully compliant with AML/KYC. In other words, there is more surveillance and less freedom.
CBDC is taking it a step further. They promise efficiency, but at a clear price, programmaticity, restrictions, expiration control, where you can use your money, and the ability to lock or freeze your wallet.
This is money subject to compliance, not trust. In Israel, digital shekel projects are presented as innovative and cautious, but the public has been excluded from the discussion.
There is no real discussion of risks, and with the media, the Bank of Israel usually presents a one-sided picture.
This is dangerous. If today, if the law still guarantees rights, another government can increase control tomorrow. And with such tools in its hands, the path to an authoritarian regime is short and bleak.
Technical capabilities embedded in digital shekels can be abused even when they are dormant during the launch phase. That makes it very dangerous.
Paradoxically, this centralization and these threats accelerate the adoption of Bitcoin as they are considered the only real alternative to maintaining economic freedom. The public will choose convenience and freedom, and many will prefer the troublesome bitcoin over the easy and supervised CBDC.
Bitcoin is a more complicated creature. It’s not just a means of payment or a valuable storage like gold. Bitcoin has the ability to replace the global currency system.
It requires more learning, responsibility and discipline to use it. But it is the only alternative to regaining control of money to individuals. Contrary to the reality of increasing surveillance and centralization, Bitcoin offers a safety net that is out of control.
Experimenting new currency tools from around the world
On the CBDC front, European blocs and India are following China, with Israel likely following Europe. This is preparing for the first step next month (October 2025) to launch a digital euro that will last for about two years across the EU.
Most countries in the world are experimenting and will continue experimenting for the next few years using CBDC and Stablecoin pilots.
The US is leading the race on Bitcoin through regulations and implementation of stubcoin, while other countries such as Pakistan, Taiwan, Bhutan and even Russia are experimenting with Bitcoin.
In recent years, I have visited cities, islands and circular communities where Bitcoin is used not only as an investment tool but also as a payment tool. Places such as Madeira in Portugal, Lugano city in Switzerland, El Salvador, etc.
Change is happening and continues before me. An unresolved question, do we choose to lead or drag?
Convenience under responsible control or freedom?
Yesterday’s panel only sharpened me that for me issues of economic freedom, economic sovereignty and personal responsibility were not academic.
As a journalist, researcher, lecturer, and someone who has been following the field in recent years, I see how close these choices are and how relevant they are to all of us. We are in race. Choice – Convenience or freedom is faster than we think.
I said on the panel:
“The state is not your friend. We are in the race to change the global financial system. In the long run, Bitcoins win. In the short term, Stablecoins will help you get there.
This OPED was originally published on the Cryptojungle website