In early July 2023, the news dispersed on the Internet that the World Economic Forum proposed urgently withdrawal cash from circulation and introduce loan points instead. We decided to check if this is so.

Almost identical posts appeared in a number of Telegram channels, which said: “VEF requires all governments to urgently cancel cash and introduce social Credit points In the Chinese style. The VEF called on world leaders to accelerate the implementation of CBDC (digital versions of national currencies). In fact, the digital currency will transfer full financial control over the lives of people to central banks and governments. ” This was written, for example, channels "Buyan - what is there in the world?"(73,000 views at the time of writing this analysis),"Informant"(66 000),"Coincidence"(56 000),"Global conspiracy"(41 000) and"The world is in the moment"(23,000). Users of other social networks reposted this news (Twitter, Reddit, "VKontakte" Facebook*) And Platform blog. In some sources specifiedWhat to cancel cash, “turning the world into a digital concentration camp”, requires not just a VEF, but his President Klaus Schwab.

The authors of publications refer to document under the name "Global principles of compatibility of digital currencies of central banks", really published on the website of the VEF on June 29, 2023. The purpose of the report that its authors claim is an attempt to “neutral, objectively and analytically look at the compatibility of digital currencies of central banks (CBDC)” (p. 5), and not calls to take any measures. Moreover, on the next page, the authors clarify that “the release and development of CBDC are sovereign decisions that should be made by every jurisdiction. <...> This report does not propagate and does not defend the need for CBDC. It discusses the measures that need to be taken in the event of the release of CBDC. ” The document analyzes the experience of different countries of the world to introduce digital currencies and recommendations, as CBDC systems of different countries should work and interact among themselves in the future.

Digital currency Central banks are the third variety of money, in addition to cash and non -cash (that is, money on a card or bank account). In particular, digital ruble The Central Bank of the Russian Federation is also going to release. It will be a unique digital code stored in digital wallets on the Central Bank platform. The agency claims that it will be possible to use this digital money through any bank in which a person has an account, it will not be needed to pay for Internet access, and at any time they can be cashed out at any time. The closest analogue of digital money available for purchase now is cryptocurrencies. However, unlike them, only the Central Bank of the Russian Federation will be produced by the digital ruble, it will be reinforced by the country's gold and foreign exchange reserve (this will protect it from high volatility, as, for example, in Bitcoin) and will not be anonymous: the movement of unique digital rubles will be quite easy to track. July 11, 2023 State Duma of the Russian Federation adopted the law, allowing the release of digital currency, and by the end of the year the Central Bank plans to launch testing among a narrow circle of customers of 15 Russian banks. They emphasize in the Central Bank that they are going to introduce a digital ruble in stages and it will be only an addition, and not a replacement of cash or non -cash money.

Like the Central Bank different The countries of the world, the authors of the VEF report with caution look at the future of digital currencies and not only do not urge to urgently introduce them, but also list (p. 23) possible threats that CBDC can carry: for example, a possible loss of control over credit-money transactions, vulnerabilities for cyber attacks and fraud, growth of geopolitical risks (due to the spread of the spread Digital currencies imposed on some countries may lose its effectiveness), etc. The document also contains recommendations for possible beneficiaries: for the Central Bank, for those who make decisions on credit-money policy, for the private sector, etc. However, they all relate to the main development of the standards of CBDC, their research, the exchange of experience, the coordination of actions and the rest. There are urgently to cancel something (for example, cash) or there is no entry there.

There is not a word about any social credit points in the Chinese style in the WEF report, primarily because Chinese Socio-credit system (which also far from implementation Throughout the country) has nothing to do with CBDC - this is not an analogue of money, neither cash nor digital. As planned by the creators, this is a certain rating of the Blessedness, which takes into account the law -abiding, creditworthiness and other indicators of private and officials, as well as organizations. This system can be compared, rather, with the credit history of a person used by banks, for example, in the decision to issue a loan. In the alleged (and already partially implemented) Chinese model Consider Also, the social history of the citizen, that is, the “good” and “bad” acts committed by him (for example, participation in charitable actions and throwing garbage in the wrong place).

Previously "verified" already Reit Information that the WEF allegedly called on the government of the countries to resolve animal marriages. Then our colleagues from Snopes received a comment from the official representative of the organization Jan Copfa, where he stated that the WEF, being a non -governmental organization, "has neither authority nor intentions to give orders to government, other organizations or individuals." Therefore, even if the experts of the WEF believed that cash should be urgently replaced by digital currency or any loan points, they could not “urgently demand” from the governments of the countries.

As follows from the analysis of the agency AFPas well as projects Lead Stories And Full fact, abroad, statements about the allegedly voiced calls of the VEF for the world without cash appeared earlier than in Russian, at the end of June 2023. Unfortunately, our colleagues, unfortunately, were not able to detect the source of misinformation. Inaccurate reports of WEF activities are spreading in different countries far away Not the first time, organization regularly It becomes an object of such statements that do not correspond to reality.

Thus, the World Economic Forum did not apply any requirements for the introduction of social credit points at the global level and the possible replacement of cash currency. The authors of posts with such statements probably do not quite understand how the same socio-credit system works in China, which they write about. A report on the digital currencies of central banks is really published on the WeF website, but it is only an analysis of the existing experience of different countries with recommendations and warnings, there is no urgent to enter or replace something in the document. It was not possible to detect other possible statements by VEF representatives, calling for the mandatory introduction of digital currencies.

*Russian authorities They think Meta Platforms Inc., which owns the social network Facebook, an extremist organization, its activities in Russia are prohibited.

Photo on the cover: Getty Images Signature via canva