Naked Capitalism has the article Unbeknown to Most, A Financial Revolution Is Coming That Threatens to Radically Transform Everything (And Probably Not for the Better).

Around 90 central banks are either in the process of experimenting with or are already piloting central bank digital currencies (CBDCs). In a world of just over 190 countries that is a large number, but given they include the European Central Bank (ECB) which alone represents 19 Euro Area economies, the actual number of economies involved is well over 100. They include all G20 economies and together represent more than 90% of global GDP.

This article explains Central Bank Digital Currency (CBDC). Finally, I can see the difference between today’s system and a true CBDC. I often thought that our credit card systems are an unusual privatization of cashless payment. The central bank should be performing the cashless transfer of money without imposing any fee. (Maybe this is more like a debit card than a credit card.)

Instead of leaving the topic as “And Probably Not for the Better”, the next article in the series could be about the safeguards that must be put in place in any legislation that authorized the Fed to provide this service. The Fed should be prevented from meddling in your financial choices (digital currency neutrality). Your financial transactions should be protected by privacy requirements. Any breach of that privacy by other government agencies should require a court order.