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>But FedNow has been designed in such a way that it could easily be modified to support one. Curious how this would work, it would be a pretty big inversion of
by treyd 3y ago
>But FedNow has been designed in such a way that it could easily be modified to support one.
Curious how this would work, it would be a pretty big inversion of asset control to make it work.
Saying "just have to" is a very big "just", considering it was aimed at only a few thousand institutions with very tight reporting requirements being the target audience instead of hundreds of millions of nontechnical users that would need something that just werks.
- AmericanChopper 3y agoFrom the Fed's perspective it would be mostly changes to business processes to allow this to happen. Making it just work for end-users would could work in exactly the same way non-central bank digital currencies currently work, as in 3rd party institutions manage customer interfaces.