I'm not saying that we would use it, but that many trust the government enough to adopt their "bitcoin backed whatever".
Even in ES, the Chico wallet is custodial, meaning they could depeg it anytime from real bitcoin.
We need to spread bitcoin self- custody education as much as possible so we can limit the chance of falling in this trap, again.
Bitcoin solves this problem only so long as we know how to use it. Bitcoin solves the technical problem, we still need to solve the human/social problem.
You can see this with the whole bitcoin ETF controversy. Which stems from the DEMAND by market participants (retail investors) that such a vehicle be created. It blows my mind that people would rather "invest" through an ETF instead of just getting their own. Even if it's through a KYC'd centralized exchange.
Agree that self custody is extremely important.
However, don’t see people using Bitcoin backed cbdc. Furthermore governments would admit that their cbdc is useless and Bitcoin has value.
