"Making subsidies explicit, however, is not always comfortable for the beneficiaries—or for regulators; obvious support attracts more public opprobrium. The real risk of cbdcs to the financial system may be that they eventually precipitate a new kind of run: on the idea that banks need to exist at all"
https://www.economist.com/finance-a...k-digital-currencies-break-the-banking-system
https://www.economist.com/finance-a...k-digital-currencies-break-the-banking-system