In the transcript they make accessibility to the average person a clear goal, i.e., a physical cash surrogate for a digital world. > Architecture 4 is deemed “

In the transcript they make accessibility to the average person a clear goal, i.e., a physical cash surrogate for a digital world. > Architecture 4 is deemed “two-tier” CBDC in that it is expected that the CBDC will only be accessible through commercial banks.11 This implies that a user will need to obtain an account with a commercial bank in order to receive and transact in the CBDC. This design is appealing because it preserves the current structure in electronic payments, but at the same time, it is unclear how this design alone will help promote financial inclusion in the US because it does not appear to address the main reasons why the unbanked do not use banks. > All of these architectures need to be carefully evaluated for their potential to improve financial inclusion, risks and complexity of implementation, monetary and economic implications, and the potential to affect the cost of credit and financial stability.