The one advantage to CBDC is the ability to get money directly into the hands of people. The drawback is that it allows for governments to simply shut off one's money supply for any reason. They also will likely be able to take more out since they control the entire system.
Blockchain is changing all aspects of the financial world so it is no surprise to see foreign aid fall under this. I do find it most interesting how the USG decided to get itself involved in the use of crypto (although not directly) since we are dealing with other entities actually using doing the conversion to crypto.
We are seeing a great deal of change. Iran using Bitcoin to diminish the impact of US sanctions. The USG using stable coins to get money directly to front line individuals. Citizens of 3rd world countries using crypto platforms like Hive and Leo to earn money for basic sustanance.
It is all changing before our eyes.
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I can definitely see CBDC's being part of the solution, or indeed a perpetuation of the problem. We have repeatedly seen where governments can't be trusted, having them with direct control over who can have money and who can't is a scary prospect.
But the potential is there also.
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This is true in 100% of the cases.
The track record is unbeaten.
I believe the fact there is the potential for both good and bad means that we need to keep building out solutions outside the reach of the present establishment.
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Indeed, non-government solutions will be the best kind, but the fact that the US government is participating in this attempt is encouraging, and a sign that they can see the power of Crypto.
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See the power and they will seek to control it.
After all, as they say, governments do not like the competition.
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