China Is Rolling Out a Government Digital Currency. We Shouldn't Try to Copy Them.

Central banks across the world have been mulling the creation of a government digital currency to one day replace cold hard cash. Beyond bidding adieu to the logistical headaches of handling germy physical bills, governments like the idea of having a better eye on transaction data to cut down on tax evasion and disfavored dealings. Fully severing the link with meatspace money could also, how do they put it?—"enhance central banks' monetary toolkits."

But one man's enlightened modern governance is another's technodystopia.

Giving the government a "God view" into all...