“The US seems to be getting serious about a central-bank-backed digital currency when the Treasury Secretary and Federal Reserve Chairman hinted this week that a digital dollar is a high-priority project for the US.”
So what’s different?
Actual cryptocurrencies are distributed ledger systems (DLs). They are independent of centralized authority except for the ecosystem’s initial developers and maintainers. The market and users have the final say, unlike what we have now with central government and banking.
Distributed ledger technology eliminates much of what we need government and banks for, and obviously why TPTB fears it.
Bitcoms are commodities from what I understand, not currencies, with unstable values that fluxuate with tax consequences when sold or converted. However I am not familiar with bitcom transactions either as investment or as used in commerce.
But this is what I am referring to:
“Don’t look now but the world is racing down a path that has been interlaid with landmines of control and surveillance and yet almost no Western politician of any party seems concerned enough to even talk about the impact this will have on personal privacy. “