> Most of the money they created here is still just sitting in big banks and isn't moving around so it does not really add to the velocity of money.

I agree that establishing a direct relationship between the Fed and individuals could be a better way to stimulate the economy than expanding the availability and demand for loans and buying bonds, but does it have to be done on the blockchain? Couldn't it simply be handed like any government account, and keyed to, for instance, your SSN? You can then transfer it via ACH/RTP or FedWire to your bank account.

I'm open to the idea that a CBDC could be an interesting innovation I'm just not entirely sure what the specific benefit would be here, and would be interested in your opinion.