FedNow getting launched. CBDC here we come.
(www.federalreserve.gov)
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This is nothing more than an instant ACH payment system. When they say "modern" payment system, they refer to a system that should have been in place 10 years ago.
Exactly right. This isn't the digital currency. It's just a more efficient version of what they have been doing for decades.
But what can it get used for? And what sort of computer system would you need to actually process all of these transactions quickly? And could that same system be used for a decentralized blockchain transaction processing later in the event that the Federal Reserve goes away?
Possible connection to EO13885 "Establishing the National Quantum Initiative Advisory Committee" date August 30, 2019: https://www.presidency.ucsb.edu/documents/executive-order-13885-establishing-the-national-quantum-initiative-advisory-committee
Under Biden there was another EO building on EO13885 which is EO14073: "Enhancing the National Quantum Initiative Advisory Committee" date May 04, 2022: https://www.presidency.ucsb.edu/documents/executive-order-14073-enhancing-the-national-quantum-initiative-advisory-committee
Now why would Biden be issuing EOs building on top of Trump's? Now that's weird.
Credit to u/dty6 for pointing out the potential connection.
🤔
XRP runs on the same computers that handle email and transactions take less thank 4 seconds.
https://youtu.be/-mJRNU5uHQk
Thank you for bringing up the fact that ACH payments are not even close to the same thing as a digital currency.
Any form of digital currency should be resisted at all costs... but this is not it.
I guess there are a lot of very stupid people on this site that cannot figure that out for themselves.
I believe that this forum has gotten big enough that there will be very stupid people amongst our ranks, just by sheer statistics, who'll do nothing but sheepishly follow the herd and just read the headlines on these posts without thinking or without the bare minimal of digging.
Adding to this situation is the fact that fear makes people stupid, and there are quite a few fear mongers spreading their trash around on this site with their sensational headlines. Taken all together, and it is no wonder that GAW's collective IQ sunk a lot recently.
In fact, the title of this thread is also sensationalist in a way, for it failed to explain what FedNow really is in favor of fanning fears of a digital currency for clicks, likes, and undermining GAW. It is also against the rules prohibiting low-quality posts.
I think we are going to some form of digital currency no matter what side is victorious in this war. There will be a need to replace fiat paper dollars. Perhaps a stablecoin type blockchain tech linked to gold and silver whose value can not be manipulated, and it can not be created out of thin air.
Anything that man makes can become good or evil. People need to wake up. Anything digital will be used for evil against people eventually. Just like the voting system is used against people.
It is only going to keep getting worse sadly.
In the end God will always win but the cost is the question. Do we have people that will still love their neighbor? First we need to love ourselves.
You sound like you’re talking about XRP.
https://youtu.be/-mJRNU5uHQk
I really dont think it will be something that exists now.