Central Bank Digital Currency
How is it different from US dollars just sent over by bank transfer or via electronic payment formats like paypal? it will be built on blockchain, showing "ownership" and also registering every transaction that dollar has made. The Federal Reserve will still have control over creation of money, but having total control and tracking over its movement, it will give them exponential power for their central-planning and government social-engineering.
the concepts are still being created, so this is merely my best guess of how it plays out.
It doesn't go through commercial banks or commercial vendors like PayPal. Transactions are quicker.
The Federal Reserve will still have control over creation of money, but having total control and tracking over its movement, it will give them exponential power for their central-planning and government social-engineering.
Don't use CBDC and you won't have to worry.
Right, it’s a Frankenstein’s monster patched together from the worst aspects of both fiat currency and digital currency.