Agencies Target Cryptos to Accelerate CBDC Adoption

in crypto •  2 years ago 

I disagree. The IMF has repeatedly stated they would like to see banks continue to act as retail financial services providers. Also, if a CBDC were to operate on a blockchain, with one chain per CB, then that could bloat very quickly.

For example, just as Tether is the issuer of USDT coins on various networks, so a CB could issue a CBDC through various big bank blockchains.

This thread also interesting:

Chiming in, Bitcoin maximalist Jimmy Song said the BTFP effectively nationalizes the banking sector, making a CBDC the “natural progression” from here.

I don't even think that's necessary. A CBDC can be run as a closed shop POS with some big banks as validators.

All of which doesn't mean I disagree with the central premise that these attacks on some banks are very thinly veiled attacks on crypto; I just think the consequences expressed are not quite right.

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