No, it is really "competition" (banks compete for my money) vs "monopoly" (no other option than the government).
The assumption that CBDC is a good idea because the government is always benevolent and does what's best for the people is incorrect, as demonstrated by the horrible financial mismanagement in the recent 20 years.
The assumption that CBDC is a good idea because the government is always benevolent and does what's best for the people is incorrect, as demonstrated by the horrible financial mismanagement in the recent 20 years.