Could the Central Bank's digital currencies replace fiat money?

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Since Bitcoin was on the scene in 2009, in the midst of a crisis, and anticipating a monumental recession after the fucking bug emptied our coffers, the economic authorities need to look for alternatives to fiat money.

That is why from the IMF (International Monetary Fund) voices are beginning to be heard that speak of the adoption of digital central bank currencies (CBDCs).

In other words, the central banks of each country issued a cryptocurrency backed or guaranteed by a reserve bank, which could be used as a means of payment.

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But to do this, on the one hand, end users would have to open their accounts at the central bank, this would be very negative for commercial banks that would no longer make any sense.

This obviously would not be good for banks, which would lose a good source of income, or, of course, for their employees who would be out of work.

On the other hand, it would also be necessary, in some way, to prohibit transactions with cash, which is very easy in the western world, but not so much in developing countries.

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It is estimated that there are close to 1,000,000,000 people in the world who do not have access to a bank account and for whom it is very difficult to be able to make any transaction without cash.

In any case, it is already very good that they contemplate the possibility of exchanging cryptocurrencies for fiat money, which, indirectly, is very good for us.

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https://beincrypto.com/could-central-bank-digital-currencies-ever-replace-fiat/