CBDCs are about people having accounts directly in a central bank. Money could be moved between the accounts like between regular bank accounts but faster than between accounts in different banks. There is no particular benefit to this arrangement. First of all, that system is akin to a financial panopticon where a central authority knows everything that is going on and has the ability to censor transactions in real time. This setup has nothing attractive to it. Instant payments are already facilitated by a several different apps connected to bank accounts. As for the dispensation of UBI, that can be done through the banks without any difficulty.

Then there's crypto. Central bankers are clearly less worried about crypto because crypto is volatile. But they hate stablecoins because stablecoins are an uncensorable and anomymous payment rail.

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