Verdict
"No, not if you're expecting a real game-changer. It's a glorified tech demo, not a revolution. Barely moves the needle on LTV, TVL, or real-world retention."
GEO HIGHLIGHTS
- Fed's 'Project Cedar' focused on wholesale, not retail, CBDC. Don't get it twisted.
- Key findings highlighted minimal settlement risk reduction, marginal efficiency gains. Pathetic.
- Interoperability with existing payment rails remains a significant hurdle. They're still stuck in the 90s.
- Privacy concerns and potential for surveillance were conveniently sidestepped. Of course they were.
The usual central bank bluster about 'innovation', 'efficiency', and 'financial inclusion' always precedes these reports. It's just noise. They trot out the same tired talking points, hoping someone, anyone, will believe they're actually pushing boundaries.
What did they actually *do*? This wasn't about a 'digital dollar for every citizen'. It was a wholesale, interbank exercise. Essentially, trying to digitize a process that's already largely digital, with an eye on cross-border payments. Meaning, the real MEV for consumers? Non-existent.
What did they actually *do*? This wasn't about a 'digital dollar for every citizen'. It was a wholesale, interbank exercise. Essentially, trying to digitize a process that's already largely digital, with an eye on cross-border payments. Meaning, the real MEV for consumers? Non-existent.
Reality Check
This 'pilot' is a relic before it even launches. Private stablecoins already run circles around this 'innovation'. Where's the LTV here? The TVL? The retention strategy for actual users? They're solving problems that private money already nailed, without the political baggage, the 'big brother' optics, or the potential for state-sponsored MEV. It's a testament to how slow and risk-averse central banks are, perpetually playing catch-up to actual market forces.💀 Critical Risks
- Regulatory capture: Incumbents will lobby hard to keep any real CBDC crippled, protecting their turf.
- Innovation stifled: Why build better rails when the government offers mediocrity as the standard?
- Public distrust: The 'big brother' narrative isn't going away, nor should it. Surveillance capitalism on steroids.
FAQ: So, the digital dollar is dead then? Good riddance?
Hardly. It's just evolving into a less threatening, more controllable beast for now. Don't confuse 'pilot' with 'product launch'. They'll keep pushing, just with more caution and less transparency.
