When it comes to money, we read anything in the media, and we hear anything in the forums of conferences. Think, for example, of all the people who have spoken about Bitcoin or cryptocurrencies without knowing anything about it. Likewise, when we speak of “central bank digital currency”, confusion reigns. Let us therefore note an excellent analytical article written for the Swiss central bank (but which does not express the official policy of this institution) explaining what an MNBC (central bank digital currency) could look like and proposing a specific solution. […].

The authors correctly note that “a retail MNBC should be based on free or open source software. Imposing a proprietary solution that would create dependency on a specific vendor could likely be a barrier to adoption from the start. «But this condition would be enough to make reject the project by any central bank (already, the word» free «…). All these political and financial leaders spend time criticizing Bitcoin «which allows tax evasion and the financing of terrorism» but they make no effort to develop alternatives. The project described in this article is nice but doesn’t stand a chance. It tries to please the central banks but they will never want it, attached as they are to closed, proprietary solutions, and facilitating surveillance.

Article by Stéphane Bortzmeyer to read on bortzmeyer.org