The stable digital currencies, also known as CBDCs have been gaining popularity in the last two years, especially after 2021 bull market.
Recently I was looking at some news about CBDCs implementation in Australia, and I was wondering if this is something that could cause trouble or confusion within a local economy as it moves forward. Countries like Canada have developed contingency plans for this system, although I'm not sure how small countries could be affected by this. What are your thoughts?
Link to the news as reference:
https://twitter.com/thetokenist/status/1556986345972809728?s=20&t=bpZZ56l23Rh3v40wykXckQI think they will be good in the long term, but that is looking 10-20 years out. It'll take generations to change peoples behavior on such a big topic, like people transitioning from using horses to cars, from switching from radios to TV sets, it is not going to happen over night. The one thing that really needs to be supported in the rollout is people who have poor ability to access the internet - whether that is the homeless or elderly people who might not be as knowledgeable on the subject, they will need the most support. It should only ever be considered as a backup, supplementary option at the beginning because people will hold onto paper money and coins to an extreme.