DREX: A Crypto Trojan Horse?

Goat News — Episode #121 🐐

Goat News
3 min readOct 11, 2023

GM, Web3 fam

Today, we’re diving into DREX, Brazil’s upcoming CBDC.

It promises instant transactions, but at what cost?

We say it’s a Trojan Horse in digital form, and you don’t want to be inside when the gates open.

DREX: Trojan Horse
DREX: Trojan Horse

DREX: A Crypto Trojan Horse?

Today, we’re talking about something that could change the crypto landscape — but not necessarily for the better.

Brazil is rolling out DREX, its own Central Bank Digital Currency (CBDC), set to be implemented before 2030. On the surface, it sounds like a technological marvel, promising instant transactions. But let’s dig deeper.

You see, DREX isn’t just about upgrading the financial system. It’s about control. The government wants to link your ID to their private blockchain. Sounds like a dystopian novel, right?

Except it’s not fiction — it’s real life.

According to the Brazilian government, DREX would solve the complicated, days-long process of international transactions. While that might seem appealing, let’s not forget the cost: Privacy.

You’ll be under Big Brother’s eye 24/7.

You know who else is concerned about CBDCs? Sam Altman, CEO of OpenAI, and Joe Rogan, the man who’s made elk meat and cold plunges cool again. They’re “super against” CBDCs.

Rogan didn’t mince words: “That scares the sh* out of me. The push to that is not for the overall good of society; that’s for control.” The idea of a global currency independent of any government is what attracted many of us to crypto in the first place.

Altman and Rogan agree that governments should focus on more pressing environmental, social, infrastructure, foreign policy, and economic issues… than creating digital currencies that infringe on our freedom.

So, Web3 fam, let’s not get blinded by the flashy tech of DREX. It might look like a gift horse, but remember, not all gifts are good.

Don’t let this Trojan Horse into your digital city. Let’s remember the legendary Bob Marley and stand up for our rights. F CBDCs

What else is trending in crypto today?

Final thoughts

If you don’t stand for something, you’ll fall for anything.

In the crypto world, that something should be freedom and privacy. DREX might offer convenience, but let’s not trade our freedom for comfort.

Stay safu fam.

Catch you tomorrow for another episode of Goat News.

Cheers n Goat out ✌️