[tancop]

this is good as a short term solution but it should really be a new system without commercial banks or any other for profit entity.

if you give up sepa compatibility you can have things like payments to alias with real name invisible to other party, offline qr codes, randomized per vendor account ids that cant be used to identify you. could even make account data end to end encrypted making it so police cant read it directly and need to show you a court order (but then you get problems with key recovery).

the ultimate play is replacing accounts in privately owned banks with one public system for money storage and transfers. you would only need a bank to borrow or invest and if its bankrupt you cant lose the rest of your money. of course this is equivalent to a cbdc so we would need to legally protect cash and crypto (including privacy coins) to prevent abuse from governments.