> That last move, the digital yuan, constitutes a revolution: when fully-fledged, it will equip every resident in China, but also anyone from around the world who wants to trade with China, with a digital wallet – a basic digital bank account. In one move, therefore, the commercial banks will have been ‘dis-intermediated’; or, in plain English, they will have lost their monopoly over the payments system. This is genuinely a radical break from finance as we have known it. And, yes, it is one that we should emulate in Europe and in the United States – which is, of course, why Wall Street and the rest of the West’s financiers will do their best to stop it, preferring to blow up the world rather than allow themselves to be… dis-intermediated.

So is that why Stellar is still being used for a CBDC trial in Ukraine then? [0][1] Or even a Bhutan CBDC [2] using XRPL being trialed as well? Perhaps that is where we are going then.

It also doesn't surprise me at all that Bitcoin has been a total failure in being useful for any of its original purpose and Ethereum has propagated and accelerated scam tokens with 'DeFi', ICOs and JPEG NFTs so quickly that it has become unusably expensive to almost everyone except millionaires spending $1k to send $100k hence the layer-2 contraptions that it needs to 'scale' up.

[0] https://cryptobriefing.com/ukraine-cbdc-is-progressing-durin...

[1] https://www.prnewswire.com/news-releases/ukraine-electronic-...

[2] https://ripple.com/insights/bhutan-advances-financial-inclus...