According to the research of Bank of America analysts CBDCs have the potential to revolutionize global financial systems and maybe the most significant technological advancement in the history of money.
There are in this article some of the more prominent misconceptions about CBDCs, especially the ones concerning anonymity and the technology's potential use as a means of totalitarian control.
Currently most crypto addresses and transfers have long since been traced and identified, even in DeFi cybercrime gets investigated, and the culprits get caught fairly quickly.
Actual CBDC Agenda
• what the legal framework should be
• how the linkage to banks should work
• how to move from stablecoin currencies to CBDCs
• how to integrate the technology into international trade
• how to incorporate CBDCs into "superapps"
There are two levels of understanding of CBDC.
Most trade transactions now goes through the U.S. dollar. When two countries trade, there is constant pressure on the national currencies because they must constantly sell their currencies and buy dollars. There is no infrastructure to support direct transactions.
The main task facing CBDC development now is building a basis for cross-border payments, which individuals do worldwide. The cost of the cross-border transfer is extremely high.
How CBDC works
if sender needs to convert one currency to another, both currencies are digitally deposited as stablecoins in an AMM pool, where the exchange rate changes very little and he total fees do not exceed 3% of the transfer amount.
Moreover it is convenient and cheap for hundreds of millions people who do not have cards or bank accounts.