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#CBDC wonks:
There are two main reasons why your monetary pipe dream of a panopticon won’t materialize anytime soon, if ever.
Short 🧵
There are two main reasons why your monetary pipe dream of a panopticon won’t materialize anytime soon, if ever.
Short 🧵
Firstly, the reigning “retail” tool of the central bank—physical banknotes—are more prevalent than you can imagine, vital to low income trade, and issuance grows much faster than global population.
CBDCs cannot compete with this trend: $9.2 trillion equivalent, and flying…
CBDCs cannot compete with this trend: $9.2 trillion equivalent, and flying…
There’s nowhere else to look to find the CBDC “addressable market.” This is that. Right here.
This is the global stock of all central bank physical currency (CBPC 😱) in the world.
CBDCs must complement—compete—with their own CBPC stock to be any kind “meaningful.”
This is the global stock of all central bank physical currency (CBPC 😱) in the world.
CBDCs must complement—compete—with their own CBPC stock to be any kind “meaningful.”
