Discover and read the best of Twitter Threads about #cbdc

Most recents (2)

.@repfranklucas makes the obvious point that one of the issue with people being "underbanked" is lack of institutional trust. He asks Zuck why people who are distrustful of banks would trust FB. Zuck - in contradiction of earlier media statements - basically says people trust FB.
@RepFrankLucas .@RepGregoryMeeks asks Zuckerberg if FB has worked with any minority-development depository institutions, given that he cares about the "unbanked" so much.

Zuckerberg admits he has no idea if FB has done this.

#ZuckBuck #BigTechTakeover
@RepFrankLucas @RepGregoryMeeks #Libra does not offer bank accounts.

#Libra does not offer bank accounts.

#Libra does not offer bank accounts.

#Libra does not offer bank accounts.

Stop it.

#ZuckBuck #BigTechTakeover
Read 96 tweets
I also find this argument persuasive.

THREAD on #CBDC & #cash

Having a central bank digital currency alongside cash is effectively like the govt offering 2 different competing monies, b/c they have different characteristics, risk profiles, etc.
Cash is better for privacy, not subject to systemic digital failures, & accessible to all (even those who can't afford digital svcs).
CBDC may be cheaper for govt to offer, enables greater use of negative interest rates as a tool of monetary policy, makes money laundering/terrorist financing more difficult, reduces friction in txns, & enables financial inclusion.*

*Just stating args-don't necessarily agree.
Read 22 tweets

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