> If all a CBDC is is digital cash, then we already have that system (Visa, e-payments, etc) It has taken me a while today to get my head round this, but no we

> If all a CBDC is is digital cash, then we already have that system (Visa, e-payments, etc) It has taken me a while today to get my head round this, but no we don't have digital cash. Visa, e-payments etc. are all claims on financial institutions (banks, payment providers etc.). Those banks then indirectly have a claim on the Central Bank currency for us. The only thing that gives private individuals a direct claim on CB currency is cash, which is increasingly less a part of society. This is the Bank of England (potentially) empowering private individuals and making us less beholden to banks.