From barter to the fiat, money and the monetary system evolved overcoming the flaws of its predecessor. Today fiat money is used world wide, issued by central banks of nations. There are 2 types of base money. (i) overnight deposits with the central bank, currently available only to banks, specific non-bank financial firms, and some official sector depositors; (ii) banknotes, being universally accessible but arguably of limited efficiency and relying on old technology. CBDC (Central Bank Digi...