In this post from Zero Hedge a major point of failure is highlighted these banks run off someone else’s ledger … their currencies are a derivative of that ledger… we are not the same.
Josh Lipsky, the director of the Atlantic Council’s GeoEconomics Center, commented: “This is an important case study in things that can go wrong in the rollout and expansion of a digital currency. Every country trying do a large rollout has had problems.”
DCash was only launched last March, and was considered the first digital currency to be used by a monetary union, the report says.
Karina Johnson, a DCash project manager at the bank, blamed the issue on “an expiring certificate on the version of the Hyperledger Fabric that hosts the DCash ledger”.
Not a dig at this CBDC however a reminder that there are numerous benefits to building your own L1 blockchain like Causevest Coin the first of which is its a lower risk to your users/stakeholders.