Instead of giving any opinion about central bank or government crypto currencies, I just studied a bit what the progress is on it. Conclusion: they need time. It is not as easy as some people say it is.
The problem: states are kept afloat by corrupt politicians and by financing a small army of secret classified people that operate completely outside any law. State Mob. These are not in to a system that in theory can make them transparant. How to evade taxes, where to stash blood- and corrupt money? How to finance black ops?
It is not a small problem. It is a big problem. It is like a Big Elephant in a Small Room. The whole circus around KYC and AML was that good because it bullies everybody but keeps room for state organized illegal funding and transactions. They could be easily bookkeeped away. Without a trace! But a blockchain based crypto leaves traces. The ECB paper on the EURO crypto tries to provide for this flaw by still baking in banks (a kind of super nodes - in crypto terms). It tries hard to find places to hide and indeed also in crypto that is theoretically possible. Objectively however, every crypto transaction has to be validated and put on a ledger. Governments have a hard time to find out how exactly to hide money in a blockchain solution and how to keep the corrupt and secret people invisible. It takes time to solve that. Just centralizing a blockchain is not a solution: the immutable ledger is a fact of blockchain. Every transaction is visible. That will be hard on many politicians that are used to receive some envelopes and pay their hobby boats in cash. How to receive bribes in a crypto currency? What will happen to extortion? Legitimate concerns of the political class. They are quite happy with a system in which banks, lawyers and accountants can hide everything. The political corruption industry and the extortion industry must be saved in whatever crypto will replace the actual system. Give governments time! Not that easy to get an elephant out of a room. But it is very important. Can you imagine politics and governments without bribes and extortion? Can you imagine a government without slush funds to finance psychopathic murderers doing their secret things? Of course not. That would put our security in danger...
My guess: There will be no state or central bank crypto before 2022. And even that seems a very short time line. Governments want people to be out of cash (to enslave them) but do not want to be out of cash themselves. So some kind of cash will have to survive.
Maybe this whole war on cash thing will end with governments just confiscating (stealing) you gold and silver and give you worthless crypto for it. They might use that to pay (bribe) each other. Who knows?
<br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://cryptmove.com/2020/10/20/omg-there-is-an-elephant-in-this-room/ </em><hr/></center>