Governments need CBDCs to improve financial inclusion among citizens

[Italian Panic]

This.
In Europe nobody wants the CBDC, at least in its retail form, as it would displace the banks.
Not the retail that would see this as an Orwellian instrument from the government.
Not the banks, that would seeetheir deposits tdrained.
Not even sure what the ECB is trying to accomplish with that.

The aim seems to be to digitise existing cash and break the monopoly held by Visa, Mastercard and American Express, which, through their commission charges drain a huge amount of money from Europe to the United States. The main problem remains the same: centralised servers, centralised controls, and monitoring of every single euro you can spent. I can confirm that this is not something Europe would want.
At present, it is seen as a dematerialisation of currency in circulation, but who can guarantee that in the future it will not be used once again as a method of print fiat money most easily than now?

[bitmover]

But isn't there a chance that the CBDC architecture requires banks to be involved and restrict or prohibit anyone else from developing online banking accounts / wallets? That is what least what I suspected, involve the banks like it is today and the users have to download an app that is per se connecting banks with each other.

Banks wont be needed with CBDC.
Your balance will be directly controlled in the central bank, and the wallet will be the app that will do everything you need.

Banks wont be making custody of your money like they do now.

[o48o]

I thought CBBCs are useless before because I noticed that those that are using banks and fintech accounts do not need it, but it was today that I read about financial inclusion, that some people in the world do not have bank account. It is estimated that more than 1.3 billion adults do not have bank account in the world.

But this does not yet convince me at all, it will not be a surprise if you see someone not having phone, will such person like to have CBDC? There is no device to use for it, so that is not possible. Also among the 1.3 billion people, I know there will be other reasons some will not have a bank. But I still think that if someone can not have a common bank account, can such person go for CBDC? I am still thinking otherwise.

You can read the news that make me bring up this topic: https://cointelegraph.com/opinion/governments-cbdcs-financial-inclusion

Read that article and post. Maybe I can learn something on this thread.

So you are worried about people without phones for not being able to access? Do they benefit from that there wouldn't be CBDCs? They would still be bankless, so what's your alternative to this. It's unlikely that they would use cryptos either without personal wallet and connection to internet.

It's not like they would probably even know about it existing, as it's not removing physical cash they are using (at least any time soon).

I understand why people would oppose CBDCs, as they see it as a surveillance tool, but in order to that protocol being able to work in EU, it would need to fit to privacy laws of EU, and that would mean it would be build to be privacy centric. Otherwise it wouldn't comply with laws.

[Cryptomultiplier]

But isn't there a chance that the CBDC architecture requires banks to be involved and restrict or prohibit anyone else from developing online banking accounts / wallets? That is what least what I suspected, involve the banks like it is today and the users have to download an app that is per se connecting banks with each other.

Banks wont be needed with CBDC.
Your balance will be directly controlled in the central bank, and the wallet will be the app that will do everything you need.

Banks wont be making custody of your money like they do now.

Of course, the need of banks would become minimal but for CBDCs to work, individuals must first accept to use it and then adopt it. Or it would remain as it is with crypto currencies leading the fore front for digital currency assets.
I also think one of the reasons why CBDCs has not been adopted widely is because of lack of proper policies by the government of any countries using it, that esteem its usage and favor it above fiat currency and crypto currencies.