>There is no technical reason everyone should not just have an electronic money account at the Fed itself for receiving and sending money. Yet you complete lea

>There is no technical reason everyone should not just have an electronic money account at the Fed itself for receiving and sending money. Yet you complete leave out the non-technical reason why that's a terrible idea. Systemic Single-Point of Failure, extreme vulnerability political exploitation, no robustness or process/partition based discorrelation to stave off or slow down financial contagion. Robustness is entropic. It uses more energy, but gains in it's ability to remain up in the face of a myriad of quantifiable stimuli instead of falling apart at the slightest touch. All eggs in one basket is a bad idea. No one makes a good enough basket.