Post
Topic
Board Economics
Re: Central Bank Digital Currencies: a Threat or a Blessing?
by
Wexnident
on 26/07/2020, 06:10:15 UTC
So I'm assuming they have a central body for the use of CBDC and that central body would then be responsible for transactions across various platforms, making things a lot easier? This idea would only encompass country by country I assume and assuming how BTC can transact from country to country, it doesn't really seem that notable of an option to choose them over BTC when BTC could basically do the same. Just like what you said, they basically failed to do anything to fix the fundamental problems of fiat. They just improved the medium or rather ways of transactions between each other, making it seem a lot easier when the essence is still basically the same. It's like upgrading the case of your SystemUnit to make it look cooler, while your insides are still the same. Or hell, even adding RGB to make it look like it's actually a fast setup.

If the idea of a CBDC is utilized to its full potential, it will strike against today's bankers (not central bankers, though). Really, if people will be able to transact directly through a central bank (as Roubini suggests), what is going to happen to commercial banks? Indeed, if they are no longer needed, it will free one hell of a lot of resources (read, it is a good thing), but I don't think many bankers will be happy (read, it's unlikely to happen)

It is a good idea indeed, but hell, people are business-minded, money minded. To hell for everyone's ease of life, if I don't profit, no one else does kind of mentality. A central party to control most would actually allow up for a lot of decent improvements since most disagreements could be met with proper solutions immediately.