Indeed, as we have seen, central banks already provide digital money to commercial banks in the form of deposit liabilities 26. Some central banks have completed proofs of concept, for example to simulate if central bank-operated wholesale payment systems could run on DLT-based applications 27.
These projects usually show that DLT is not yet mature enough for current adoption, and that the legacy systems are outperforming DLT-based applications. Unlike commercial banks, the public at large is only provided central bank money in the form of banknotes and coins. A general purpose CBDC, open to the public at large, would be a substitute or 20 A. STEVENS, o.c., 81.