Having seen how a pandemic can spread through the use of cash, we are hearing a lot about digital currencies, and the blockchain community is enthusiastic about central bank digital currencies. But in thinking about it, CBDC has problems, including scalability and disruption to banks.
There is a first mover opportunity for digital currencies, certainly. But if one muses about what a successful digital representation of money should look like, it has to protect privacy, has to scale, does not lend itself to authoritarian tracking, and is evolutionary for banking and finance.
The wind is carrying the scent of a CBDC being developed in a major Asian nation that has aspirations to become the dominant player in the digital currency and banking world. If the US doesn't have a solution in the hopper, it will be left behind, with significant implications to the cause of liberty free markets, and equitable trade.
Maybe the US should have a hard look at all of this. Maybe it should look something like this:
www.okanii.com
https://youtu.be/KZh7XzoWQcA