CBDCs won't replace Bitcoin | What are Central Bank Digital Currencies & Pros and Cons of CBDCs

Central bank digital currencies or cbdcs for short are unsurprisingly, digital currencies that issued by central banks. About 80% of all central banks are currently researching or already testing such digital currencies. You can be pretty sure, that a digital dollar and digital euro are on the horizon.

A central bank digital currency is a virtual form of a fiat currency like the dollar, euro, yen, pound or yuan. Instead of a company or decentralized protocol managing the currency it is controlled by the central bank itself. CBDCs are often thrown into the same basket as cryptocurrencies, because of both are digital and often use a blockchain as part of their technology. But that's about it when it comes to similarities. In fact I would argue that CBDCs are the exact opposite of cryptocurrencies and bitcoin especially. Bitcoin is completely decentralized financial system. Central bank digital currencies would lead to even more centralization as it could replace the existing banking system with only one ruler at the helm: the central bank.

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Raoul Pal, Real Vision Video:
The Bitcoin Life Raft: The End of Monetary & Fiscal Policy As We Know It (w/ Raoul Pal)
https://youtu.be/qL2LfVRl3J0

Chapters:
0:00 What are CBDCs?
2:05 Why central banks want CBDCs
5:24 Who is implementing CBDCs?
5:43 Why CBDCs are a bad idea
7:15 Bitcoin & CBDCs

Видео CBDCs won't replace Bitcoin | What are Central Bank Digital Currencies & Pros and Cons of CBDCs канала Till Musshoff