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Reason: None provided.

Anyone who is not wikipedo could describe how CBDC is differ from "conventional" cryptocurrencies or digital banking.

Transactions of "conventional" cryptocurrencies are signed by random participant of cryptocurrency network. Any transaction will be signed without any exceptions. Nobody could prevent, stop or "sanction" a transaction. That is the main idea of crypto, not the blockchain.

Transactions of CBDC is signed only by CB. CB have full control on who is allowed to do transations, for what purpose and for what sum. But unlike "conventional" digital banking, all transactions are stored in blockchain, so it is not bank accounts with specific sum assigned to some person, but a total sum of all stored forever transactions to or from some person address. Transactions stored in blockchain could not be deleted or changed. That is the only difference from "conventional" digital banking.

Also, there are no any sense in terms of globalised regulation with multiple different local CBDCs, since there must be a single global blockchain to make it real. So, there should be some single global CBDC, with global blockchain to reliably control everything. That will be the case if UN/WEF/IMF/whatever global entity will declare some global single CBDC for all.

CBDC is a silly attempt of authorities to replace uncontrolled crypto with something that use blockchain like crypto and named "crypto" using success of crypto but stripped from any advantages of crypto. And all that advantages are solely consequence of crypto independence from any authority, not cryptography or using blockchain.

"Conventional" cryptocurrencies and CBDCs have completely different target audiences. Those who really need crypto will never switch to CBDC, and those who will agree to use CBDC don't really need crypto.

If CBDC will be implemented widely, I think some gamblers from crypto market will move to CBDC to look "law-abiding" just for virtue signalling, and that's all. De-facto, "conventional" crypto is the only reliable technology for unlimited civil international transactions now and I don't see any alternative in closest future.

2 years ago
1 score
Reason: None provided.

Anyone who is not wikipedo could describe how CBDC is differ from "conventional" cryptocurrencies or digital banking.

Transactions of "conventional" cryptocurrencies are signed by random participant of cryptocurrency network. Any transaction will be signed without any exceptions. Nobody could prevent, stop or "sanction" a transaction. That is the main idea of crypto, not the blockchain.

Transactions of CBDC is signed only by CB. CB have full control on who is allowed to do transations, for what purpose and for what sum. But unlike "conventional" digital banking, all transactions are stored in blockchain, so it is not bank accounts with specific sum assigned to some person, but a total sum of all stored forever transactions to or from some person address. Transactions stored in blockchain could not be deleted or changed. That is the only difference from "conventional" digital banking.

Also, there are no any sense in terms of globalised regulation with multiple different local CBDCs, since there must be a single global blockchain to make it real. So, there should be some single global CBDC, with global blockchain to reliably control everything. That will be the case if UN/WEF/IMF/whatever global entity will declare some CBDC.

CBDC is a silly attempt of authorities to replace uncontrolled crypto with something that use blockchain like crypto and named "crypto" using success of crypto but stripped from any advantages of crypto. And all that advantages are solely consequence of crypto independence from any authority, not cryptography or using blockchain.

"Conventional" cryptocurrencies and CBDCs have completely different target audiences. Those who really need crypto will never switch to CBDC, and those who will agree to use CBDC don't really need crypto.

If CBDC will be implemented widely, I think some gamblers from crypto market will move to CBDC to look "law-abiding" just for virtue signalling, and that's all. De-facto, "conventional" crypto is the only reliable technology for unlimited civil international transactions now and I don't see any alternative in closest future.

2 years ago
1 score
Reason: Original

Anyone who is not wikipedo could describe how CBDC is differ from "conventional" cryptocurrencies or digital banking.

Transactions of "conventional" cryptocurrencies are signed by random participant of cryptocurrency network. Any transaction will be signed without any exceptions. Nobody could prevent, stop or "sanction" a transaction. That is the main idea of crypto, not the blockchain.

Transactions of CBDC is signed only by CB. CB have full control on who is allowed to do transations, for what purpose and for what sum. But unlike "conventional" digital banking, all transactions are stored in blockchain, so it is not bank accounts with specific sum assigned to some person, but a total sum of all stored forever transactions to or from some person address. Transactions stored in blockchain could not be deleted or changed. That is the only difference from "conventional" digital banking.

CBDC is a silly attempt of authorities to replace uncontrolled crypto with something that use blockchain like crypto and named "crypto" using success of crypto but stripped from any advantages of crypto. And all that advantages are solely consequence of crypto independence from any authority, not cryptography or using blockchain.

"Conventional" cryptocurrencies and CBDCs have completely different target audiences. Those who really need crypto will never switch to CBDC, and those who will agree to use CBDC don't really need crypto.

If CBDC will be implemented widely, I think some gamblers from crypto market will move to CBDC to look "law-abiding" just for virtue signalling, and that's all. De-facto, "conventional" crypto is the only reliable technology for unlimited civil international transactions now and I don't see any alternative in closest future.

2 years ago
1 score