The thrust of the article is that right now private banks effectively manage most of currency circulation and that a digital US dollar would make the Fed a gian

The thrust of the article is that right now private banks effectively manage most of currency circulation and that a digital US dollar would make the Fed a giant 'MegaBank' that managed most of the currency directly in a way, giving them immense control. Side note: the 'transaction problem' that we have in payment settlements today has nothing to do with the type of currency, it's really just about legacy banks, standards and monopolies. If we wanted a complete transaction to be 50ms it could be that. Same thing for the 'unbanked' - there's nothing stopping us from having everyone 'banked' right now using the current system. SwissPost I believe is a bank, the USPS could provide basic digital banking as well if you really wanted. Also understand that most of the financial system is credit, not cash, so there's that. I think the Orwellian issue is real, as well as the issue with a central government entity getting into such granular problems. I just don't believe they should or can do it. The banks, which literally own the Fed(s) (they each have set share ownership) ... will also have something to say about it. It's such a gargantuan change I wonder if it could even ever really happen? How would it roll out? Rhode Island first? By the time it hits main street I wonder if we'll notice a difference.