> Central bank digital currencies differ from existing digital money available to the general public, such as the balance in a bank account, because they would be a direct liability of the Federal Reserve, not a commercial bank.
Semantics. People want to know their savings are guaranteed and they can't possibly be lost. The FDIC does just that. The public doesn't care if the ultimate grantor is the Fed or the Congress or the Senate.
And I think rightfully so because in the end the ultimate grantors securing Americans savings are always and in any event 3 entities:
1) the U.S. Army
2) taxpayers alive now
3) future generations of taxpayers.
This digital dollar or digital euro is something that nobody asked for and nobody wants. At least with crypto you can argue that they fill the role of online casino in disguise. Which isn't really productive but at least there are people who actually flock to it.
Semantics. People want to know their savings are guaranteed and they can't possibly be lost. The FDIC does just that. The public doesn't care if the ultimate grantor is the Fed or the Congress or the Senate.
And I think rightfully so because in the end the ultimate grantors securing Americans savings are always and in any event 3 entities:
1) the U.S. Army
2) taxpayers alive now
3) future generations of taxpayers.
This digital dollar or digital euro is something that nobody asked for and nobody wants. At least with crypto you can argue that they fill the role of online casino in disguise. Which isn't really productive but at least there are people who actually flock to it.