A paper that suggests the US fed should not have develop a national crypto has some interesting quotes
"it is imperative for law enforcement purposes that the identities of people involved in financial transactions be known publicly."
If true then it would be interesting to see publicaly the information and records of the Fed itself, given they are a private organisation. Or maybe the pentagon can explain some of it's spending that lacks any accountability. Or maybe the Crown in the UK can explain some of it's transactions in regards to offshore accounts and transactions with the USA.
"prevent financial crimes such as those involving drug trafficking, terrorism, and money laundering"
Which implies that criminals only use crypto, whereas most are done in secret via cash eg mass payments to Iran with pallet loads of cash.
"central banks, which are controlled by centralized governments"
Are they really controlled by governments? or are they immune? eg the USA FED is in Wash DC, which is a separate state and has it's own laws as does London & the Vatican
“the technology for issuing virtual money in a centralized way existed long before the invention of the blockchain”Very true, fiat is all counterfeit, every dollar created by the Fed has no value beyond the paper it is printed on.
At least with blockchain, supply is limited by the base technology, not the whims of the banking cartelWhich all makes the last part about the WMF recommending national cryptos all the more interesting.
At least the part about a huge percentage of the population of the globe not having access to fiat banking is correct.All in all it would seem that the banking cartel are concerned if not scared that the crypto genie is out of the bottle and they can't put it back even if they wanted to.