Looking at the retail aspect of the CDCD's, what is the killer app?

In a recent discussion with the CEO of a leading European bank, the critical question arose: Is a Central Bank Digital Currency (CBDC) merely a solution in search of a problem? The answer, as explored in the conversation, is far more profound. As societies move towards becoming nearly cashless, the next step is to embrace fully cashless systems. The primary advantage lies in the enhanced monetary policy tools, particularly the negative interest rate channel, which could revolutionize economic management much like antibiotics transformed global health.

CBDCs offer a unique solution by eliminating retail bank intermediary risks and allowing central banks to maintain control over narrow money (M0) in a digital format. This not only secures monetary stability but also addresses issues like deposit insurance, making CBDCs a superior choice for covering the last mile in our journey towards a cashless future.