Is a US CBDC Inevitable?

I know Trump and the GOP put forward the Anti CBDC Act, but it hasn’t actually passed in Congress yet. If the Democrats sweep the 2028 elections, they could easily push for a US CBDC. Other nations are already rolling out their own digital currencies, and the US won’t want to fall behind, so we could definitely see a "Digital Dollar" coming soon. It might turn into a showdown between the Euro and the Dollar for dominance. What are your thoughts? Do you think a US CBDC is bound to happen? If you don’t think so, what’s your reasoning? I’d love to hear your opinions. Thanks!

The US CBDC will come, just matter of time. Trump has only less than 3 more years in the White House and when political leadership in the USA changes side, there will be new proposal for launching the US CBDC. It might fail this time, a next time but there will be a successful approved proposal in the future, just like how many times and years of failures with Bitcoin Futures applications and Bitcoin Spot ETF applications before we got them officially and legally. The USA can try to lead the world but there are global trends they must join, and the CBDC trend will be a global trend. Some CBDC trackers. https://cbdctracker.org/ https://www.atlanticcouncil.org/cbdctracker/ https://cbdctalks.com/

US seems to care more about privatizing the stablecoin and let USD dominate through big companies than CBDC. I don't really think US CBDC will be a thing but if they want to create it for the sake of not letting EUR dominate with their CBDC, I can see how US CBDC might come into play. Needless to say privatization of stablecoin has surged the demand for USD assets ranging in the hundred billions.

There are some doubts about the feasibility of creating a CBDC. Why does the United States need this? What is the advantage over the dollar?.. What is the need... Unclear. In Russia, they are also creating something similar - a digital ruble. Why it is needed is probably not known by the creators themselves. Apparently, "to be." Even the head of the largest bank, German Gref, recently openly expressed great doubts about the need for this.

If I send USD digitally to a friend, is that not digital dollar? So what kind of digital dollar is CBDC? What is its use compared to the traditional digital dollar? CBDCs are rubbish created to compete with cryptocurrencies before, but many countries have now seen how rubbish it is. They should use the money to do something better than to waste money on CBDC.

This is inevitable, and it's a matter of when. It will get to a time that it will be a race similar to what we now see in AI. Time and competition will force them into action. As for Trump, how would he allow that when he is benefiting from cryptocurrency? Having the US's CBDC will surely reduce how the world use cryptocurrency, provided they make it cheap. Before Trump, the US's fear was how it could affect the US companies dominance in the world's business and finance stage. Many payments companies could fold up if it's not carefully weighed and implemented.

As other nations develop their own digital currencies, it may be inevitable that the United States will do the same. I read an interesting thread about this (I even translated it into Portuguese, in case anyone here speaks the language), which discusses the difficulty of tracking physical money and how digital money would facilitate this, thus enabling greater state control over the economy and the population, unlike cryptocurrencies, and also mentions the fact that both aim to "get rid" of paper money. One way or another, right or wrong, digital payments may be the only option in the future.

It's all about the control... so digital currencies are inevitable. I like how you wrote it: "One way or another", it will happen... I guess we will see different scenarios in different parts of the world. Maybe it will be good, maybe not... I am sure many will disagree about it, but in the end, it's not like we will be able to choose anything. Or maybe we will have some "crypto alternative"? Too many questions, and things around the world are heating up...

US CBDC will never happen. US has ban CBDC under Trump's policy. So we will not see it to come. It's also the reason CBDC is not a relevant idea anymore. Nevertheless, there is an alternative such as USD1, USAT, USDC that can be used as a USD stable coin. It makes me think US has done it right by ban CBDC idea. I guess the news about US CBDC ban has already released last year. I dunno if you are not update to this one. The reason why US ban CBDC related to the privacy concern.

Yeah, a US CBDC is inevitable. When it happens, your guess is as good as mine, but it will certainly happen. It may not be the version that's being contemplated by current proponents, it may not even be one issued by a central bank, but it's still a digital currency that's issued by the government. So, it's essentially the same. It seems the alternatives are to get stuck with the old form of money or opt for a currency like Bitcoin which is independent from the state. Both are less likely to happen.

Around 80% of all people in the US have a smart phone. So the digital $ would exclude 20% of their citizens.

There is no such thing as inevitable CBDC and how do you know if the republicans will lose the next elections? I don't think that will happen but we will see. Lots of things can change till 2028. If the stock markets don't crash and stay there, Trump manages to keep energy prices and the inflation low, the republicans will probably win again. The dude just kidnapped Venezuela's president and killed all the Iranian top officials. If he can manage to force Iran to surrender, Trump will be a hero. I'd expect at least 2 more republican terms till the dems even have a slight chance in the elections. However, that doesn't mean we are good and there won't be a cbdc. Trump very well may bring cbdc and change his mind about bitcoin. He changed his mind many times before so don't have high hopes.

I don't believe team trump knows what they are doing. They are just listening to crypto buddy lobbyists that don't want CBDB, even when they themselves don't really know what that "CBDC" would entail. So what would they ban exactly, and how does it differ from current banking? By making money laundering harder? Preventing funding or development of faster and better system that's owned by someone else then existing crypto buddies. Whole ban idea seems like lobbying from tech bros who want to pump existing blockchains by fantasizing of moving monetary system in them. And it doesn't really make sense. Just because CBDC is likely not going to be "legit" permissionless cryptocurrency that enrich his crypto buddies, it does not mean it wouldn't be more suitable then building some country's financial system on top of any crypto, which probably wouldn't even beat existing tech. Also there is always going to be demand for physical cash on some level, as economic system needs to work even when web is down. So it's not attacking physical cash more then any other plan.

It is no secret how many countries are following the trend of moving towards CBDCs and for me, I think the U.S. is not currently in a race to be on top of this matter, simply because if you look around, they have done so much to keep the dollar as a more dominant currency in the exchange market and globally and they have more advanced and up to date payment systems that are so efficient to fail in the least. Although, I think more polices would have to be created to this effect just as we see with cryptocurrencies and their reserve banks and regulations that always gives a headache to the economy at large.

There will be no digital EURO this decade! Their plan is to test it in 2027 and maybe release it in 2029...if anyone wants it! Also, you seem to be missing a point,  there is little "supremacy" to gain here, unlike 3rd world countries here in Europe, you can have an account for free as long as you get your wage on it, free transactions, instant payments, all with "traditional" euros,  and you will not be able to trade and own a digital euro without proper papers, so....what surpremacy can you achive when the rest of the world will be restricted in ownership from the start?

For me I don't think the US CBDC will happen for sure because even if the government wants to move it forward definitely the regulators and congress will make it to slow down and that won't stop people to still prefer both cash or digital wallets. So I think it might've been possible it's not automatically there will be alot of problems and before the us CBDC can happen it must clear a lot of processes or it will need several approval and also safeguard are needed first for this to really happen

Well there is one thing I wonder about, isn't there a real incentive to introduce a digital EURO, but not for the sake of making the payment systems better or more efficient, but for the sake of surveillance? I am not arguing that I believe that plan would work out as planned by whatever authority, but the desire to look into everything that people are doing is definitely there. Eliminating cash step by step gives authorities more leverage in several areas I think. In regards to this I fully agree with @stompix, what advantage would the USD have over the EURO just because it is a digital currency, perhaps in relation to international trade and competition in general? In the long run I think digital currencies will be rolled out and while I think it is relatively irrelevant for competition between governments, I think it is more relevant for competition between governments and their citizens.

"Privatizing" the stablecoin? Don't you mean "privatizing" the US Dollar? Because stablecoins are already issued by private companies. As much as Trump wants to make USD-based stablecoins the "de-facto" USD, I don't think this would be such a good idea. For the government, of course. Because it won't have the same level of control/flexibility over the economy, than having its own digital currency. A US CBDC will allow the US government to maintain control over people's financial lives, especially with increased surveillance. CBDCs are part of the globalists' agenda, which is something Donald Trump is against. This is good for Americans, at least within the next 3 years. If Democrats win again (WH + House + Senate), it will be bye-bye to physical USD for good. Just you wait and see.

Europe is a sinking ship, so I don't think they will be dominating anything at all. A CBDC doesn't automatically change the state of affairs within a country.

CBDC is always debatable especially in a big country like the United States as we might know that CBDC called "Digital Dollar" has been cancelled but If i remember there is also other project called project hamilton. It is inevitable? there is no country or alteasy big economy country that succesfull launced CBDC mostly is Research and Proof of Concept. Trump likes crypto atleast for now he have more favour with Stablecoin like from Tether and Circle heck Trump himself has a USD1 from the World Liberty Financial. But maybe in the future but way way long because lot of geopoltical issue today.