The Reserve Bank of Australia is testing new digital money that can have rules built in. This “programmable money” can expire if not spent, block payments outside certain areas, or stop buying some items. Most people do not know this is happening.
“Programmable money: currency with built-in rules that can expire, restrict spending, or even block transactions based on location or purpose.”
https://www.bis.org/publ/work905.pdf
“Funds that expire after a set period, encouraging timely spending.”
https://theaimn.net/why-programmable-money-raises-alarming-questions
This new money could vanish after 30 days. It might block purchases outside your postcode. Taxes could be taken automatically without any way to get a refund. Artificial intelligence could stop transactions it does not approve.
This is a big change in how people control their money and privacy. Governments and banks would have more power over daily spending. Few realize how close this is.