I am more interested and curious on the implication of Fantom being backed by a central bank.
What happens to the independence of Fantom when it is the powerful central bank that is at its backbone? The central bank itself is not independent from the powerful control, authority, and manipulation of the government.
What is the degree of this backing? Is it only limited to approved or under regulation by the central bank?
Most probably it's a part of bank's regulation mate, and regarding the approval I think each person who's part of it needs to pass. Government will soon take control of it, and I don't see any good future for this project because financial independence of crypto will be abolished. Central bank and authority of government is powerful particular on law implementation towards tight regulation.