> A CBDC system would be radically simplified. A customer would open an account directly with a country’s central bank<p>This is where they lost reality. Yes the CBDC will be issued by the central bank. No, you will not open an account managed by the government. It will be a public-private situation, just like today, with more efficiency. It could give rise to the light bank, which would only offer basic products for the un(der)banked.