Despite the erosion of confidence in government institutions, most people still prefer money backed by a central bank, and this is unlikely to change anytime soon. All of these programs work through and are overseen by the countries’ central banks rather than commercial banks or other private companies. We must be cautious not to treat CBDC as a panacea for financial inclusion. In particular, it would undermine the right of all persons to engage with the economy privately. This is especially…