Comment by _jackdk_

GNU Taler[1] is an interesting middle-ground in the payments space: privacy-preserving for consumers, non-blockchain digital cash, and keeps merchant activity taxable.

I do worry about their whitepaper recommending it for a CBDC[2] (linked from [3]) which points out the state can implement negative interest rates, and that its architecture requires the issuer to get involved even in "spot your friend a $20"-level use cases. Since the issuer would presumably be required to KYC everyone, that also creates a big surveillance problem.

[1]: https://www.taler.net/en/index.html

[2]: https://www.snb.ch/public/asset/de/www-snb-ch/publications/r...

[3]: https://www.taler-systems.com/en/digital-currency.html