Central banks will not support crypto.One of the reasons people are so attracted to cryptocurrency is its anonymity. The convenience of using or storing a currency anonymously is what increases people's attraction to cryptocurrencies. But this rapid growth of cryptocurrency and its positive aspects are never supported by the government and its central bank. Although it is good, it has become a common thing to make negative comments about it. But a stupid decision has been taken by the Central Bank which we call CBDC, Central Bank Digital Currency does not seem to have any real value.
Why would a consumer use CBDC? Of course, if the user is not addicted to its positive aspects, it will never be worth supporting. If a currency is controlled by a central bank then what is the need for digital currency?
If the government keeps its control to itself then there will be a big gap between those coins and crypto coins.
Disadvantages of CBDC coins are:
1. It has controllers. A user can be identified at will.
2. Security issues are less likely to be overpowered. Because there is a high probability of hacking.
3. It cannot provide any security even in terms of personal safety. Because it is very easy to identify anyone for any reason.
4. The central regulatory body must be dependent on someone else to regulate the CBDC.Besides, people are not interested in CBDC due to various reasons. By taking such initiative there is no possibility of getting desired results.