Well, of course a digital pound or any other CBDC cannot be used as a store of wealth. Like what the Reserve Bank of India (RBI) is doing with the Digital Rupee; the UK is doing the same with a digital pound; a CBDC that will introduce savings limits of up to £20K to incentivise spending meaning you cannot save more than that and this cap can change at anytime.
Also admitted here:
> Money above the cap would be "swept" into a customer's commercial bank account given that a digital pound would not be a means for storing wealth, he told members of UK Finance, a banking industry body.
Imagine if this is forced upon like what is happening with the eNaira in Nigeria. [1] I won't be surprised to see the same thing happen in India with the ridiculous hype of UPI, which is certainly going to use CBDCs on there as payments.
Also admitted here:
> Money above the cap would be "swept" into a customer's commercial bank account given that a digital pound would not be a means for storing wealth, he told members of UK Finance, a banking industry body.
Imagine if this is forced upon like what is happening with the eNaira in Nigeria. [1] I won't be surprised to see the same thing happen in India with the ridiculous hype of UPI, which is certainly going to use CBDCs on there as payments.
Like I said before in [0] That should scare you.
[0] https://news.ycombinator.com/item?id=33867672
[1] https://www.premiumtimesng.com/business/business-news/571691...