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Ask HN: Why do we need central bank digital currency (CBDC)?
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Re: Ask HN: Why do we need central bank digital currency (CBDC)?
#112A CBDC system would radically simplify the current system of intermediaries approving/checking/extracting-fee/etc shifting 0 and 1 from one digital ledger to another [e.g. https://www.bankofcanada.ca/wp-content/uploads/2021/07/sdp20... ]. Under CDBC a person has open account only with a single 'independent federal/global bank', making it the only liability to government not a private institution (technically Fed woul…
CBDC has nothing to do with abolishing cash. Some tin-foil-hat-wearing conspiracy influencer tied the two together, but they're really wholly unrelated concepts, and it only serves to muddy the waters to try to discuss both when only one was asked about.