I'd like to know more about the technical implementation.
For society, this is really important. Basically everyone needs a bank account. In some countries, the government even forces people implicitly to have one in order to pay taxes or fees.
In such a case, the government should provide a solution for this too.
Then, there are also economic implications of this. Society needs to run many banks, which uses a lot of resources (especially people). However, many people and companies only need one simple part of banking: cashless payment. Something that’s, from a technical perspective, just a database for transactions and accounts. So a default solution by the government makes sense to me.
Of course people will argue against this as the government would have full control over people’s money. But I think that’s the case anyway. Money is something inherently governmental as it’s produced by an governmental institution (central bank) and collected by the government in form of taxes.
For society, this is really important. Basically everyone needs a bank account. In some countries, the government even forces people implicitly to have one in order to pay taxes or fees.
In such a case, the government should provide a solution for this too.
Then, there are also economic implications of this. Society needs to run many banks, which uses a lot of resources (especially people). However, many people and companies only need one simple part of banking: cashless payment. Something that’s, from a technical perspective, just a database for transactions and accounts. So a default solution by the government makes sense to me.
Of course people will argue against this as the government would have full control over people’s money. But I think that’s the case anyway. Money is something inherently governmental as it’s produced by an governmental institution (central bank) and collected by the government in form of taxes.