Our current form computerized-currency that you use with debit cards can be cashed out and banks and ATMS. Central Bank Digital Currencies (CBDCs) will be cashless, no way to cash out.

A BIG REASON THEY WANT TO IMPLEMENT THIS IS TO ENACT NEGATIVE INTEREST RATES THAT YOU CANT GET OUT OF.

Negative interest rates would basically mean you'll be fined for trying to save your money or not spending it immediately. In todays world if they tried to implement negative interest rates everyone would just cash out of the bank and sleep with money under their mattress. In a CBDC world there is no way to cash out, you are stuck in the hellhole of negative interest rates and are unable to pay for food and resources you need to revolt.

Current form computerized-currency uses the SWIFT banking system from the 70s which is inefficient and slow. Wiring from one bank to another takes $30 fee and a few days. There is still quite a lot of regulation that is manually done in the banking area that can now be done automatically. Basically you have to thank the slow movement and ineptitude of government that CBDCs haven't taken hold sooner.

In a CBDC world, money moves a whole lot faster when compared with the SWIFT system

CBDCs will have much faster and cheaper wiring fees. However, that means changes can be made much faster as well. CBDC payments can be programmed to not work from a designated living radius. The government can monitor exactly how much you need and are entitled to have through a CBDC (current banking regulations don't allow this, you need a court order). Your "FedNow Digital Wallet" can be shut down at the push of a button.

In a CBDC world. money in your bank account can be created or destroyed in an instant given any kind of parameters like "how much gas was bought this week", "what was said about the government on social media", "you married someone working at the federal reserve", "you're a judge who made an certain ruling on a case or a politician who voted a certain way", etc.

The banking business today is still more decentralized and comptetive because you have your local business banks that are in charge of your account rather than under the direct control of the Federal Reserve under a CBDC. There would be no need for banking infrastructure and businesses under a CBDC. Over time more local businesses will be shut down and controlled by the Federal Reserve becoming like the Walmart of banks and shutting down any competitors. Less banks may seem good but the problem is one bank would have complete control over you and your descendants forever.

In a longstanding CBDC world there is no room for competition, there is only the Federal Reserve

The financial system we have today is still based on scarce resources and rewards those who bring new value to the system.

In a CBDC world much like China of today, bringing new value to others through invention and making businesses may not bring you reward but instead bring punishment for fear of breaking monopolies or not bowing down to your corporate overlords.