undefined | Better HN

0 pointsjqpabc1233y ago0 comments

You just need to bring your banking infrastructure to the 21th century.

ACH is the central component of the banking infrastructure that needs to be brought into the 21st century. And a CBDC is how you do it.

0 comments

It's just one way to do it. One unproven way at that, and with pretty serious ramifications.

I'd love to see an alternative that doesn't look a whole lot like a CBDC.

The "serious ramifications" are all things that are not being proposed. No one is suggesting to make cash illegal.

UK's Faster Payments, EU's SCT Inst, Brazil's Pix, India's UPI, ...

Shifting retail banking to the central bank brings a lot more questions than just worry about what happens to cash.

An alternative to ACH need not push the technology down to the consumer but leave it at the interbank level.

j / k navigate · click thread line to collapse