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/biz/ - Business & Finance

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49993706 No.49993706 [Reply] [Original]

You have read the Federal Reserve's whitepaper on a CBDC, right?

No, your shitcoin is not going to replace the US dollar. It isn't going to be an Ethereum smart contract. It will not be XRP. It will not be HBAR. It will not be any existing coins you have in your Metamask. It will be developed 100% in house by the Fed. What makes you think they would use your toy blockchains to run the fucking world reserve currency?

https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf

>> No.49993734

>>49993706
>nothing can link to it

Kys retard

>> No.49993736

>>49993706
What makes you think that countries A will hold shitcoins of countries B in the future ?
It's quite clear that it's over for the usd as a world reserve currency

>> No.49993757

>>49993706
thanks, just sold

>> No.49993782

>>49993706
>What makes you think they would use your toy blockchains to run the fucking world reserve currency?

Why would the Fed be managing the ruble anon?

>> No.49993820

>>49993706
https://www.fsb.org/wp-content/uploads/P131020-1.pdf
They link to another paper on enhancing cross border payments which states under Focus Area A:
"Committing to a joint public and private sector vision to enhance cross-
border payments"

Which insinuates not a heavy centralization(at first). Also local dollars are a separate system under Fed now and still need settlement system coordination across countries, especially now with the global order cracking. Who cares what coin it is, my guess with the crypto crash it must be a survivor with alot of press.

>> No.49993870

>>49993706
And how they are going to connect the CBDCs?
Will a country like China trust in the Fed software to run their financial infrastructure?

>> No.49993877

>>49993820
>it must be a survivor
naw nigga

https://github.com/mit-dci/opencbdc-tx
https://static1.squarespace.com/static/59aae5e9a803bb10bedeb03e/t/61fc25f91a0df9037488eb7d/1643914745989/Hamilton.Whitepaper-2022-02-02-FINAL2.pdf

This is the closest thing to a crypto coin like you are used to that is being considered as a CBDC

>> No.49993900

>>49993734
? Wtf would they want your shit connected to it? The only things allowed to connect to it will be 3-letter agencies and other pozzed countries. Fag.

>> No.49993903
File: 93 KB, 768x1024, 1651533236682m.jpg [View same] [iqdb] [saucenao] [google]
49993903

>>49993870
The same way they do international transfers now

YOUR TOKEN IS NOT NEEDED

NONE OF THEM

>> No.49993923

>>49993903
>The same way they do international transfers now
nope, not possible, too inefficient

>> No.49993939
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49993939

>>49993706
>It will be developed 100% in house by the Fed
yeah, no shit.... Anyone with a brain figured this out since forever.

>> No.49993952

>>49993736
>What makes you think that countries A will hold shitcoins of countries B in the future ?
It will likely be a digital version of IMF special drawing rights or similar. A reserve currency for every central bank in the world system.

>> No.49993958

>>49993903
SWIFT? And wait 2 weeks (unironically) for a transfer? Plus a huge fee? You realize that SWIFT already became obsolete with blockchain right?
Again, why a country like Russia trust SWIFT when it's used Asa financial weapons when it can simply create its own paralel financial system in a multipolar world?
The advantage that had the US with the dollar after WW2 are long gone. The world won't fall again for that scam specially when new tech is available

>> No.49993964

>>49993877
This still on phase one of this year for an open CBDC? Paper even states that its not ready, but the government ala fed wants to roll something like this out next year? You know if they add any of currency experimentation/manipulation that its pretty much dead in the water right.

>> No.49994037

>>49993706
thanks for posting glowie friend

>> No.49994185

kek latefag cope thread

>> No.49994232

No one is saying its gonna be XRP or ETH, you gotta b a fkn mouthbreather to believe that an entity, let alone the fkn US FEDERAL RESERVE would not want to have control over its digital currency. XRP will act as a bridge between CBDCs, a level playing field. Go see who Biden nominated recently, unironically he was on Ripple's board kek. But you're too dumb to see it and rather be distracted by NFTs and dogcoins. Goodluck