“the private sector nature of stablecoins raises risks to monetary policy transmission and may threaten the effectiveness of the central bank’s lender of last resort function.” BIS
Bitcoin and Impact
Although bitcoin could never have worked it’s invention did have one consequence – to change the entire world’s financial system.
This change was not via cryptocurrency or bitcoin, but enabling stablecoins – coins based on blockchains which are pegged to fiat values.
Stablecoins directly threatened central banks and prompted them to move into action. The action was to invent a new term – CBDC – which proprogated globally reaching every central bank.
Today in 2021, the entire world system is on the brink of a change not seen since the 1600s in terms of scale.
It seems clear that the actual design of bitcoin was to cause CBDCs (not by name but by design) and with it a complete digitization of currency; and complete globalization of financial services at a level never seen before – low-cost, instant, and universally accessible.
Satoshi Nakamoto was never identified and it is likely the name referred to a team in a government agency whose purpose was to cause CBDCs. Bitcoin.com speculates it could have been the NSA.