Considering the implication of an outage or downtime, this is a horrible idea. Imagine an outage and nobody has access to money. How can anyone think this is a good idea? What about the huge swath of the population that isn’t tech savvie and their survival depends on them learning how to interact with these wallets? All it will take is one outage or period of downtime for the pitchforks to come out.
Imagine that govt. imposes strict quotas on how much junk food, candy, chocolate etc. you can buy. Or petrol/gasoline per month.
They started developing this system the day they announced “debit cards,” “ATMs, “EMT’s.” and “smart payment” with our devices.
Why are we surprised that cash is nearing an end??
We brought this upon us for “convenience”
Questions we must ponder
Why would you warn about a Crypto attack and then use the same system for CBDC’s? And why would US/UK/EU be afraid of China’s growing power… because they implemented their first CBDC pilot project in 2013. They are years ahead of the ‘global west’.