Well let’s just say it is a bit more complicated.Choosing one or the other is probably not the answer.
Why can’t a CBDC be anonymous ? What is stopping the governments from using infrastructure that allows anonymity ?
Who says the central bank issued digital currency has to be tracked(for whatever denomination).
There are no set standards for #cbdc issuance and exchange yet, countries can decide to choose.
How can #stablecoins be the solution ? Still volatile, still perceived value. Just because the risk is a bit lower ? Might as well make a completely decentralized currency legitimate.(which is happening)
I think, maybe we don’t understand the problem that we want to solve.
The problem is not running in the same race as all the other countries to launch a CBDC.
CBDC have major use cases in cross border payments, Bank for International Settlements – BIS demonstration of cross border transactions using multiple CBDCs (mBridge) seems to be a success.
Central banks of Hong Kong, Thailand, China and UAE participated in the pilot as part of the multi CBDC bridge project.This use case might not be the top priority of countries around the world who are testing CBDCs, but it is still a very critical use case that has the potential to disrupt international trade and payments. Instant cross border settlement, almost free, secure and absolutely transparent on a blockchain network, this can absolutely be disruptive. But this is just one case, though an important case, but can other forms of currencies do this better ?
The problem that needs to be solved is how to update a central bank issued, sovereign credit backed “currency” or a decentralized currency backed by a custodian in the NEW world that will truly help the citizens and economy to improve.
Solving this problem might mean different things for different countries.
An extreme situation will be where only one “type” of money is accepted.
Could be centrally issued by central banks or organizations or completely decentralized and anonymous.
To cater to all sections of society, a more likely situation is a mixed economy with a better balance between all types of “money”.