I completely agree with you, as I have enough experience in the third world commission structure for government payments. Intermediate distributors always want

I completely agree with you, as I have enough experience in the third world commission structure for government payments. Intermediate distributors always want commission; often times, local politicians even at the village level create fake beneficiaries. To cut down the graft, some kind of digital payments is necessary: mandatory bank accounts for beneficiaries, along with transfer of payments to beneficiary accounts. Even before bitcoin and after bitcoin, private banks create/destroy digital currency: they create digital money when new loans are created, and destroy digital money when loans are paid. When people receive paychecks through ACH direct deposits, it is all about moving bits around various accounts, no creation or destruction of physical currency involved. With CBDC, tokens need to be verified with some kind of entity, wallets are needed to store these tokens. What difference does it make now, when one doesn't need to deal with the hassle of opening accounts with private banks?