this post was submitted on 31 May 2023
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While I can understand the reasons why a government wants to create CBDCs, I never understood why they're eyeing at cryptocurrencies.
As you said. For cryptocurrencies, Decentralisation is a core value. A government is inherently centralised. So, the tools that are used in cryptocurrencies (namely Blockchains and co.) don't really make sense, as they're trying to create verifiable trust in a decentralised system. A government doesn't want to be Decentralised. What is it going to protect itself from? From itself?
Blockchains only make sense, when an authority like a government or an oligopoly doesn't control 100% of it.