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Banking giants and New York Fed start 12-week digital dollar pilot
- mikece 4y agoThis is potentially the most significant announcement in tech and society for the next 20 years. Digital dollars are the US version of the Central Bank Digital Currency (CDBC) and brings elements of programmable money to the US dollar as well as eliminating the anonymity of cash. CDBCs could be "programmed" such that they cannot be used for certain transactions (eg: banned at the digital level so that CDBC currency cannot be used as part of an unlawful transaction). CDBC is Orwellianism applied to money.
- pjkundert 4y agoIn totally unrelated news, simultaneously with this CBDC announcement, dozens of completely centralized fraudulent cryptocurrencies (widely touted in global media as decentralized), and an impossibly stupid cryptocurrency exchange implodes (while under the careful watch of regulators), robbing tens of billions from citizens.
- alexfromapex 4y agoForget 20 years it would be maybe even 100 years. This would essentially put the US on par with Chinese social credit.
- mountainriver 4y agoNo one wants programmable currency, in America this will be met with fierce opposition if implemented
- BryanBeshore 4y agoIncredible timing