Not necessarily; as cashu or fedi ecash is difficult to identity where and what amount each token is
Discussion
Right, much better than the current system but These things are poorly defined though right? My point is if CDBC’s are banned does it exclude central banks from issuing Ecash tokens? Because technically they’d be digital currencies issued by a central bank i.e. CDBC.
I guess the fact that you could swap to another mint at anytime would force the central bank to compete in a free market which would probably not go well for them they would no longer have a monopoly on “banknotes”
Exactly
As they have the power of the govt to do whatever they want at will, I'd say no; they can issue & make whatever they want and name it whatever they choose.
It'd be a massive win imo if the govt. said "all dollars will now be ecash based on cashu & fedi protocols, backed by Bitcoin. Please spend just as you spend cash, no taxes&capital gains removed too"
The goal is anyone can be their own bank and issue their own ecash as they see fit;
Think of it like a credit of Bitcoin from your neighbor. Instead of him paying your lightning invoice because for whatever reason both of you are not connect to the internet (or your own local intranet), you can just take their ecash token.
When you get back on the internet, you immediately redeem is for lightning sats.
If the token says 'already redeemed, spent' or, 'no route for payment', etc., you have the right to call your neighbor out for lying to you & stealing from you. You won't engage with them again