I am on record as saying that CBDCs will fail completely.
Are we starting to see some evidence of this? In this video I discuss the 10 month old eNaira and how it is being embraced (it isnt). I do privde some numbers to put it in context so asto frame how poorly it really did over 300 or so days.
Here is the article mentioned in the video:
▶️ 3Speak
300 days is a fairly large sample so at least make deep enough changes there will be no improvement
300 days is not really a long time. Just think about the first 300 days of Bitcoin (BTC). Many people thought that Bitcoin (BTC) will also be a failure, but we all see where it is now. I do not say that CBDC will be a huge success, but I think that it is early to say that it will be a total failure.
Thanks for the discussion though I'm not knowledgeable about CBDC and how it work. May learn something new from your video.
Thanks for the lesson!
The element of distrust is you let your money and freedom flow into the hand of the state. Whatever you might think, CBDC will have elements of failure at the beginning with low engagement, and not a lot of adoption.
The central powers will eventually force people to use it. People will have option B and use decentralized alternatives like cryptocurrencies or keep using simply fiat printed money instead.
The might force people to use it but governments arent cut out for the digital world.
So people can really affect what is done through development.
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Development brings innovation and force government to adapt to the reality. I believe CBDC might work at the end, just my humble opinion.
The governments can't do anything if people don't have much faith in them and I think that is a good thing.
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The confidence seems to be waning.
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It‘s still the same Currency eventually, that should be the problem.
CBDCs will fail, because the older people, who have the majority of the wealth, and do not all have smartphones, won't be able to adopt them. If the old people don't lead the way, no one else will even give it a second thought
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