from Great Game India:
The Bank for International Settlements (BIS) plans to use AI to monitor global bank transactions for potential instances of money laundering. The project, known as “Project Icebreaker,” focuses on developing a SWIFT-like bottleneck system that would enable global banks to regulate and potentially standardize all currencies.
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While the IMF is currently gearing up to introduce its new global CBDC system called the UMU (also known as the Unicoin), The Bank for International Settlements has been busy with multiple projects designed to centralize all international banks and central banks into a single umbrella network that allows for quick cross-border transactions using digital currencies. In other words, a cashless society.
One such concept, called Project Icebreaker, dealt specifically with creating a SWIFT-like bottleneck system which would allow global banks to regulate and eventually homogenize all currencies into a single one world exchange model that would give them the power to cut out any nation or company that does not meet their ideological approval.
The latest idea from the BIS is Project Aurora, which may be even more disturbing than Icebreaker in its implications. Aurora is designed to use “machine learning” (AI) as a tool to monitor vast flows of financial transactions from all over the world in order to identify specifically flagged patterns. The BIS says that this is meant to discover criminal money laundering structures protected by “money mules.” However, in order for the AI to sift through global transactions in real time, corporate banks and governments would have to create extensive streamlined access to accounts then open the doors wide for the AI to operate with impunity.
The Reserve Bank of Zimbabwe introduced a gold-backed digital currency that will be fully backed by physical gold held by the Bank. This move might pave the way for gold-backed money.
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