random 4chan thread actually spells out a very possible outcome RE: CBDC rollout
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The digital ID and currency isn't reliant on a network. The designs in Canada seem to include some sort of device that allows offline 1 to 1 transactions. I would assume the network just gets updated later when connectivity is available.
I don’t see how that’s possible. Offline transactions are susceptible to double spend attacks and other fraudulent transactions.
Yeah I'm not sure, but did a survey online about, obviously expressed displeasure, but in the survey there was information including a graphic that appeared to be some sort of card, beaming info to another card while it was talking about transferring money while the network was unavailable.
Found this: https://coingeek.com/bank-of-canada-experiments-with-offline-cbdc-payments/
Interesting, thanks for the link. So essentially it acts like a “promissory” note, and it still requires an internet connection to confirm the transaction. Importantly, you can’t spend the money you gained offline until you reconnect.
Seems like it could work but I would still expect hackers to take advantage of it - which is great because the quicker we break the trust of this CBDC sysyem, the more people will seek alternative methods.