Not all your money. Most people have more than 1 bank account. So this won’t change that. Also SWIFT transfers also include international transfers, and most people aren’t doing that outside of rare instances. Digital currency is only within EU regions, so this solution won’t affect non EU transfers. As OP said the goal is to reduce commissions to Visa and Mastercard.
It won’t kill commercial banks because there’ll be limitations. Biggest is you won’t be able to take a loan from the central bank, which is the largest slice of the pie for any bank making money. They can also put other limitations, such as no non-EU transactions, or having a max limit per month.
Yeah I think the adverse effect of handing an iPhone to a 10 year old in Atlanta, when that teen is still highly impressionable unrestricted and unsupervised access to the internet is far worse than handing a kid a Gameboy on which they can only game, or a Walkman on which the worst thing they can do is listen to Cardi B.
You compared smartphones to previous tech such as Walkmans, and I explained how they’re nowhere near the same in the extreme case (unsupervised access). No school is gonna confiscate the phones as long as the kids listen. And the kids need to learn to listen to parents and teachers. Discipline is sorely missing in the new generation. Look at that series “adolescence “ to see the real effects of giving kids a smartphone.
And jamming is expensive and ineffective (you’ll end up jamming nearby devices not on school property too).