Quote from: erep on January 15, 2023, 06:18:26 PM

Reality predictions about paper money can be measured based on the growth in current technology use, every year statistics on technology use continue to grow from all ages so online transactions in e-commerce are increasing but transactions for paper money are decreasing compared to the previous year, but efforts to eliminate circulation of paper money is not easy because the government must ensure that the use is very low and not even used anymore in every transaction in traditional markets and any other transactions, if the position of the situation is then the government can make new regulations regarding the use of paper money without the negative impact of criticism Public.

Transactions using paper money have indeed entered a decline stage, because there are many online payment technologies available in e-commerce, so that people have choices in shopping even if they don't hold banknotes, but this problem will not make the circulation of banknotes disappear, because, as previously stated, I said earlier that supporting resources are not fully accessible except in urban areas.

Making new regulations is not easy, because it requires a lot of consideration and approval from several authorized agencies, other considerations will have a lot of negative impacts and protests that will occur as you said. If this continues to be enforced and before the source of support is not available in all areas.

Quote from: Ayers on January 16, 2023, 04:15:04 AM

I don't think creating a bank's CBDC is to limit or slow down the growth of cryptocurrencies, even if a successful CBDC would have no impact on cryptocurrencies. The cryptocurrency market is a financial market used for investment, while CBDC represents fiat in the digital version, which is only seen as an evolution of technology. Fiat is a currency, not an investment market, so the two can't hurt each other. Alternatively, a CBDC could also be the idea that gives the government more control over us.

Limiting what I mean is not included in the category of slowing down the growth of crypto as an investment, CBDC was created to fulfill the revolution in the field of state finance, so that fiat is not left behind because the development of crypto has increased sharply. Believe it or not, crypto and bitcoin in particular are considered fiat competitors by them, if they don't try to revolutionize anything against fiat currency it will impact the future of fiat.

CBDC is just a matter of transition for those who don't want crypto to develop and that's why there are many challenges and restrictions from the government in limiting it, so regulations are always discussed for security and continue to be voiced until now.