Digital currencies are nothing but just the digital form of a country's official currency, ie Fiat currency just in a digital form. It still has all the flaws of Fiat including high inflation, and centralization with unlimited potential of manipulation of the currency from the government. If anything, they can just track you more now.

A lot of people start dignifying government-backed digital currencies thinking they are similar to Crypto. Unfortunately, that is far from the truth. Digital currencies issued by the government may be easier and faster to use which is commendable. However, they should never be seen as an alternative to adopting decentralized Cryptocurrencies.

TLDR: Government issued digital currencies are still the same thing as Fiat, and they should never be praised.

submitted by /u/Many_Scratch2269
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