1) Central banks prepare to issue their digital currencies. This will certainly be a revolution. However, change dynamics are not well understood. CBDC can be the tool to reduce high private sector leverage without sacrificing public debt.
2) First a misunderstanding: banks will do whatever they do now. They will continue to create money and debt under central bank digital currency (CBDC). They will just need more reserves because ordinary people can prefer to deposit their savings at the central bank.
