I agree that running it on top of another ledger like ETH or BTC makes no sense.
That said, the idea of trusting a central bank that is completely unaccountable to the public or even to the Government is crazy to me.
That said, the idea of trusting a central bank that is completely unaccountable to the public or even to the Government is crazy to me.
Just how poisonous? Well, what have you heard about presidents Carter and Reagan?
Similarly, we've seen last 12 years there's more than one way to skin a cat - issue "money" at the fed level - than just printing. They invented at least 3 mechanisms since.
That being said, it's not entire clear to me how current tokens/coins solve that conundrum without losing some major desirable/necessary "macro" features and flexibility.