One of the major PMF happening right now is stablecoin.

People might be underestimating how much pressure this put onto CBDC and how it might actually speed things up.

One example is the @bankofcanada

The Central Bank of Canada announced on Feb 25 last year that they had no plan to launch a digital currency (CDBC).

But they also announced that were building the capacity to issue one should one of the two following occur :

1. Bank notes were to continue to decline
2. An alternative digital currencies were to become widely used as an alternative to the CAD

It's clear that after just one year, scenario 2 is likely to happen sooner than they anticipated.

They also predicted two things that probably happened quicker than they thoughts :

(1) Other digital products will emerge (algorithmic stablecoin)
(2) Foreign CBDC (LBCOIN and SandDollar)

Another interesting thing, they make it clear that the Canada's monetary sovereignty could be at risk if

(1) private and (2) non-denominated CAD digital currency

was to be widely used.

This part mostly refer to digital currency adoption like @DiemAssociation (Libra), which they are well aware of and see as a threat :

https://www.bankofcanada.ca/2020/02/staff-analytical-note-2020-5/

The BoC recently opened a Cryptographer position, and it's also clear they are moving from Project Jasper to a CBDC pilot program.

https://careers.bankofcanada.ca/job/Various-locations-Cryptographer/543895917/

It will be interesting to see how things develop in the next 1-2 years.

But most likely this stablecoin growth just made us go from an IF to a WHEN and from a 10-20 years horizon to a 5-10 years horizon.

Funny note, CBDC reports don't talk about (1) new financial products (DeFi) and (2) higher yields (farming) that are not accessible with regular bank note.

Mostly because they weren't as widely known or adopted 1 year ago.

I expect to see these popping up on upcoming reports.