[pphysch]

This is overwhelming one-sided...

Why CBDC is good:

- Efficiency: much of the legacy financial institutions are no longer needed in current form (going as far as the Fed and IRS). Opportunity to reform finance as a whole and remove legacy waste.

- Fraud detection: money laundering and financial crime becomes very difficult to hide

- Observability: much better data & insight into economic trends

- Security: Infra being controlled by a public org that can be held more accountable than a decentralized mess of private corporations (see endless Equifax leaks, etc)

- Responsiveness: can rapidly implement policy changes in response to crises

[bhawks]

Efficiency: judging by the state of healthcare I sincerely doubt the legacy financial system will go away quietly.

Fraud detection: I'd be very concerned about false positives here.

Observability: forcing everyone to opt into a financial panopticon will have unintended consequences.

Security: we really struggle to hold any organization accountable. Public organizations are not magic, was anyone held accountable for solarwinds? The office of personnel management? If anything holding public entities accountable is even more difficult then private entities because of politics.

Responsiveness: The ability will be there, will it be used effectively or responsibly?