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Does anyone know how this would work? Would it just be a pointer (a digital key sitting on your device) to an account at the central bank holding your dollars?

Does anyone know how this would work? Would it just be a pointer (a digital key sitting on your device) to an account at the central bank holding your dollars? Or is something more elaborate? Would it allow anonymized holders of digital USD? If not how would they handle know-your-customer (KYC)? If so, how would they prevent evil people like Kim Jong Il or Carrie Lam holding USD?

pmontra 5y ago
The first two questions: cash is anonymous, a digital money transfer could be anonymous or not depending on the design. I don't think governments want anonymous transfers but they might not give that information to the party that receives of the money. That is, they know I paid 10$ to that shop but the shop doesn't know who I am. The last question: some people have rooms full of 100$ bills. Some of them are evil. Examples https://www.reuters.com/world/asia-pacific/russia-says-afghan-president-fled-with-cars-helicopter-full-cash-ria-2021-08-16/ https://www.reuters.com/world/asia-pacific/russia-says-afgha... https://www.cnn.com/2019/09/08/africa/sudan-al-bashir-trial-witness-intl/index.html https://www.cnn.com/2019/09/08/africa/sudan-al-bashir-trial-... A technology people's fallacy is to expect technology to solve social problems. They are best solved socially.