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by walkerbrown 1595 days ago
> disintermediates the entire payment sector

Unfortunately, the recent proposal specifically reassures commercial banks that any US CBDC will be intermediated (right on page 2) [1]. Board of Governors can't risk jeopardizing their speaking fees.

Individual FedAccounts via USPS locations is the way to go for the underbanked [2]. But, disappointingly, this is not that.

[1] https://www.federalreserve.gov/publications/files/money-and-... [2] https://dx.doi.org/10.2139/ssrn.3192162