The Bitcoin Policy Institute’s report on CBDCs makes a strong case for why the US should reject a centrally issued version of the dollar. Bitcoinist covered that already. This time, we’ll focus on the reasons why The Bitcoin Policy Institute thinks CBDCs don’t make sense and are not practical for capitalist societies. The main argument is that a CBDC would obsolete banks, and banks won’t allow that. So, the question is, how influential are banks in state policy?
Mind you, this time The Bitcoin Policy Institute’s case is even stronger. And we won’t mention China even once.