Prediction: Government will eventually Adopt BCH Network.
The bitcoin (BCH) p2p cash use case removes the need for government and financial institutions from people transacting. However, after playing around with min.bitcoin.com and creating a few SLP tokens I see p2p cash as only the bootstrap and a fallback use case of bitcoin (BCH). Its true potential will be to facilitate good governance via transactions of fully auditable CBDCs, Corporate tokens and DeFi Smart Contracts.
Centrally managed money is not the cause of world wide economic problem. Its centrally mismanaged money that is. CBDCs issued on public blockchain will be fully auditable leading to better governance.
Central Banks are out there to compete with each other. CBDCs issued on a private network will not have the same support or adoption as CBDC issued on public blockchains. First government to issue their currency on a public blockchain will lead the charge in the new era.
BCH Network is the best public blockchain to issue CBDC due to its Bitcoin DNA, a proven tech, and most importantly its LOW FEES and INSTANT TRANSACTIONS and capability to handle the transactions for all of humanity.
Pros of CBDC on public blockchains:
- Governments gets to control their money supply. Its fully transparent.
- Just like BCH people get to use their CBDC SLP Tokens permissionlessly. Can't be censored.
- If a major CBDC fail due to mismanagement the economic fallout will not be as catastrophic. People will still have BCH as means of transacting(ie BCH p2pcash as a fallback usecase). During this time new governance and new CBDC can be created.
- Think of it as Cycles of Inflationary Economics(CBDCs) supported by a single Infallable Deflationary Backbone (BCH).
In such future, BCH can still be used as p2p cash, but by then BCH will be so valuable/precious that the majority of people will only be spending it as fees facilitator. Lets check back in 20 years.
In the mean time: Keep Stacking, Keep Spending, Keep Sharing, Keep Replacing. You are bootstrapping the future!
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