Adam Back, a prominent figure in the Bitcoin community and founder of Blockstream, has voiced strong opposition to Central Bank Digital Currencies (CBDCs), describing them as a significant threat to privacy, decentralization, and individual sovereignty. He argues that CBDCs represent a reactionary move by regulators attempting to maintain control over the evolving landscape of digital currencies, particularly after witnessing the potential of private-sector solutions. Back believes that rather than fostering genuine financial inclusion, CBDCs merely reinforce state power and surveillance capabilities. At the Consensus Hong Kong event, he emphasized the need for Bitcoin to thrive as a decentralized alternative to state-controlled money and outlined Blockstream's efforts to promote Bitcoin-centric solutions, including hardware wallets and institutional-grade investment products. Back highlighted the current global momentum against CBDCs, especially in the U.S., pointing out political resistance and the involvement of Bitcoin-enthusiast policymakers. Ultimately, he views the conflict between Bitcoin and CBDCs as part of a larger struggle for financial freedom and privacy.

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