[alice157]

Interesting! I've got a few questions:

It looks like it's currently in limited release at the moment - how would somebody go about playing with this?

Is it just the verification that's private, or also the transaction history? Is it private in the sense that not even the central bank can track it, even with a code change?

How do you expect this system to compare to cryptocurrencies that do liquid staking + inflation, where there's a set amount of inflation, allocated to everyone who plays nice in the network? Does this come down to differences in views on inflation?

[nealbozeman]

Thanks for the nice comment! Ping me [e-mail] and I'll leave you some Metrics :) . Anyone else interested, can ping me, too. I'll leave you a "cash" pickup that you take using a QR code or URL.

The thing about centralization is that you have to abide by banking laws in each country, so accounts that are verified would have an identity that goes with them. This is the trade-off with crypto, but even crypto doesn't have this benefit because to get involved, you go through a centralized, regulated exchange.

Transactions and identities on the CBDC are private as there is no public ledger, but warrants can still be used to compel the bank to give information on an account, same as any other bank.

In my opinion, liquid staking + inflation still has the classic liquidity trap problem. You want to hold the "currency" rather than spend it, and there's not really a process to acquire the currency, other than exchanging other money for it. UBI is a process to acquire the currency, and the tax an incentive to spend it and spread it.

I will do grants this year that people can use to make new business and get new money in to circulation. Employees of businesses getting grants will also get verified accounts.

[alice157]

Another:

One failure mode I see here is a hypothetical employer sending paychecks right before the tax hits, sticking the employees with the tax burden. In fact, I imagine there would be a monthly rush to spend and play hot potato. Would some sort of rolling window perhaps address this?

Of course, the spending is by design - it's the forced last-minute nature of it that i wonder about.

[nealbozeman]

The taxing is continuous. There is no strategy to wait to pay out.

[alice157]

Cool! I'm excited to see if this (or a similar system) ever gets battle tested, I think we need more innovation in how we do markets.

[nealbozeman]

Agreed! Ping me [e-mail] if you want some cash. If you're looking at any other ideas in the space, would love to hear about them.