We Need Central Bank Digital Currency

We Need Central Bank Digital Currency(medium.com)

1 points by treeder 6 years ago | 2 comments

numpad0 6 years ago |

Instead of the central bank issuing new digital token(the ones you can’t touch), they can print a physical dollar bills(one you can touch) in markets. These bill will live on credit card payment networks and you are semi free to do with them as you wish.

Fiat currency as it is is already virtual enough. There’s no need to have blockchain involved.

What Bitcoin provided solution for is initial coin distribution problem, which its answer was mining rewards, and very little else.

treeder 6 years ago | |

I think you missed most of the points in the post. To address your points which are well covered in the post (I'm guessing you didn't read it):

1) Printing bills is very expensive 2) Credit card payment networks are also very, very expensive (2.5-3.5% or more of every transaction) 3) Billions of people can't get credit cards. 4) How do you send printed bills around the world?