✨Central Bank Digital Currency #CBDC
Several countries are in the #CBDC pilot phase, including Russia, Thailand, Malaysia, South Korea, Sweden, United Arab Emirates, and Saudi Arabia. It is not known, however, which program could be the subject of a formal launch.
Concrete plans to launch a #CBDC have been registered in Canada, Australia, Brazil and India, among others. The digital euro is also in the development phase, with a pilot planned for 2023 in participating nations.
In developing countries, central banks want to be able to reach the unbanked. In Mexico, it was the banks that united to demand a #CBDC, worried that the unbanked would acquire #cryptocurrency at no cost.
Several countries are in the #CBDC pilot phase, including Russia, Thailand, Malaysia, South Korea, Sweden, United Arab Emirates, and Saudi Arabia. It is not known, however, which program could be the subject of a formal launch.
Concrete plans to launch a #CBDC have been registered in Canada, Australia, Brazil and India, among others. The digital euro is also in the development phase, with a pilot planned for 2023 in participating nations.
In developing countries, central banks want to be able to reach the unbanked. In Mexico, it was the banks that united to demand a #CBDC, worried that the unbanked would acquire #cryptocurrency at no cost.
✅ Many governments are creating and deploying Central Bank Digital Currency projects. Here is a website that tracks all the #CBDCs launching globally. https://cbdctracker.org
👉 Although central banks like to conflate (amalgam) their digital currencies with #cryptocurrencies and blockchain technology, only to cloud people's judgment because #CBDCs ARE NOT #CRYPTOs.
👉 #CBDCs are controlled by a central bank, while cryptocurrencies are almost always decentralized, meaning they cannot be regulated by a single authority.
👉 The #CBDC is just a digital money (or digital form of a country's fiat currency) instead of being a physical note, with the goal of eradicating cash.
👉 Although central banks like to conflate (amalgam) their digital currencies with #cryptocurrencies and blockchain technology, only to cloud people's judgment because #CBDCs ARE NOT #CRYPTOs.
👉 #CBDCs are controlled by a central bank, while cryptocurrencies are almost always decentralized, meaning they cannot be regulated by a single authority.
👉 The #CBDC is just a digital money (or digital form of a country's fiat currency) instead of being a physical note, with the goal of eradicating cash.
Central Bank Digital Currency (CBDC) Tracker
Central Bank Digital Currencies are a new form of electronic money that, unlike well-known cryptocurrencies, are issued by central banks of certain countries. CBDC Tracker is an information resource for CBDC with news, updates and technology information.
🇺🇸 Federal Reserve to launch 'FedNow' instant payments system in July.
⚡️#CBDC is on the horizon... This explains the recent aggressivity and actions of US authorities to kill crypto and stablecoins, in order to clean up the country before the launch of their digital currency.
#FedNow is real-time payment system developed and operated by the Fed Reserve Banks of the US. announced in August 2019 and is expected to be launched in 2023. FedNow allows financial institutions to allow their customers to make instant payments 24 hr a day, 7 days, 365 a year.
https://www.foxbusiness.com/markets/fed-july-launch-new-fednow-system-live-transactions
⚡️#CBDC is on the horizon... This explains the recent aggressivity and actions of US authorities to kill crypto and stablecoins, in order to clean up the country before the launch of their digital currency.
#FedNow is real-time payment system developed and operated by the Fed Reserve Banks of the US. announced in August 2019 and is expected to be launched in 2023. FedNow allows financial institutions to allow their customers to make instant payments 24 hr a day, 7 days, 365 a year.
https://www.foxbusiness.com/markets/fed-july-launch-new-fednow-system-live-transactions
⚠️ Did you know that last month the #IMF launched a new digital coin called Universal Currency Unit (#UMU or #Unicoin), an international version like a central bank digital currency #CBDC. However, it is legally a money commodity, intentionally working in all national jurisdictions, and not just for a local economy. To be continued...
✅ Under the proposed plan, every 🇹🇭 Thai citizen older than 16 with a digital wallet app on their phone would receive $280 worth of #CBDC 👀
However they have to spend it within six months and also within a 4-kilometer radius of their residence.
https://www.bangkokpost.com/thailand/politics/2627787
However they have to spend it within six months and also within a 4-kilometer radius of their residence.
https://www.bangkokpost.com/thailand/politics/2627787
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🚨 “I will never allow the creation of a Central Bank Digital Currency, if I am elected”, this is what Donald Trump has just declared in a campaign speech in New Hampshire... who specifies that a #CBDC would give the federal government absolute control over your money and would reduce freedoms.
👉 Like him or not, at least he says things that make sense... isn't that right, Madame Christine Lagarde? #BCE 😅
👉 Like him or not, at least he says things that make sense... isn't that right, Madame Christine Lagarde? #BCE 😅