The government's supposed idea that FedNow can be used to replace crypto and push CBDC's is an immensely stupid one

I have been hearing this idea for a while now. It seems to have come from the White House's first 'Crypto Report'. In it the Federal Reserve(and White House) made allusions to developing the FedNow System that will improve the current banking system for everyone. I cannot even begin to describe how deceitful and frankly idiotic of an idea that is. Let me explain what FedNow is.

There actually isn't much to explain. All FedNow does is make interbank transactions faster. Basically, banks send transfer to each other and these transfers need to be cleared, i.e., the funds proven to exist in the sender's account so that the receiver can actually use the funds with something like double-spending.

This does nothing to actually help individuals left out of the banking system, mostly the poor and those employed in the non-traditional economy or self-employed(like handymen, housemaid etc). It also does nothing to fix issues that currently exist in the system to better serve the majority of those (middle-class) already in the bank system. So all those who serve to benefit most from crypto adoption actually benefit essentially nothing from FedNow. Not to mention, with FedNow cross-border transactions, like those most needed by overseas works who send remittances back home to underdeveloped nations bear no benefit from all this. Coinbase recently published a piece that crypto reduces fees transsactions like these by 96%.

FedNow is just propaganda and an excuse to government to push out crypto, and then potentially push in CBDC's. And it seems very few at all even understand what FedNow is, yet it is all over media and tied to a potential CBDC push. But it is all bs.