[goatsneez]

A 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 would is private institution, but that is topic on its own).

The abolition of an analogue payment system (cash) is from the first principles a tragic idea regardless of the actual implementation mechanism, despite the few pros one can but forward in this argument. The system with CBDC can make money have an 'expiration date' ! This is not a theoretical construct, but its discussed as a way to 'manage' economy (and private individuals). Inflation, spending, propping up economy is fully in the hands of a government entity and can be matter of coordinating policies and laws. This alone, this principle goes against all the progress of modern times from Babylon. The opportunity for tyranny (not used lightly) under such system is limitless (I will not enumerate it here, Im just outlining an argument on a important and complex issue).

[phendrenad2]

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.