[hakfoo]

Two other thoughts:

* Logistics: if you have poor infrastructure and remote communities, you eventually have to send armoured trucks full of notes and coins to replenish those lost to attrition or external trade. It seems a bit easier and less risky just to let people query the central bank from a satellite-based hotspot.

* Universal access: Modern payment systems tend to be for the (relatively) well-off. Commercial banks aren't going to be interested in handing out debit cards and maintaining accounts for people with an average balance of only a few dollar-equivalents. A state program can afford to operate at a loss (and may actually deliver cost savings if it can be used as a cheap way to disburse subsidy or welfare payments)