Posted on 03/25/2024 9:15:49 PM PDT by george76
Global bank messaging network SWIFT is planning a new platform in the next one to two years to connect the wave of central bank digital currencies now in development to the existing finance system..
The move, which would be one of the most significant yet for the nascent CBDC ecosystem given SWIFT's key role in global banking, is likely to be fine-tuned to when the first major ones are launched.
90% of the world's central banks are now exploring digital versions of their currencies. Most don't want to be left behind by bitcoin and other cryptocurrencies, but are grappling with technological complexities.
SWIFT's head of innovation, Nick Kerigan, said its latest trial, which took 6 months and involved a 38-member group of central banks, commercial banks and settlement platforms, had been one of the largest global collaborations on CBDCs and "tokenised" assets to date.
...
Countries such as the Bahamas, Nigeria and Jamaica already have CBDCs up and running. China is well advanced with real-life trials of an e-yuan. The European Central Bank has digital euro one underway too, while the Bank for International Settlements, the global central bank umbrella group, is running multiple cross-border trials.
SWIFT's main advantage though is that its existing network is already usable in over 200 countries and connects more than 11,500 banks and funds who use it to send trillions of dollars every day.
...
Its latest trial involved central banks from Germany, France, Australia, Singapore, Czech Republic and Thailand as well as a number that requested to remain anonymous.
A raft of heavyweight commercial banks including HSBC, Citibank, Deutsche Bank, Societe Generale, Standard Chartered and the CLS FX settlement platform all took part too, as did at least two banks from China.
(Excerpt) Read more at reuters.com ...
UN Agenda 21 , 2030 , Great Reset, ( Let me know if you wish to be added or removed from the list.)
Why do you think banks fold when too many depositors make a withdrawal at the same time ?
The Deep State would love to freeze your accounts if you do not perform as they instruct..
Trudeau’s Deputy - Chrystia Freeland (her grandfather was a NAZI ) declared war on truckers who were peacefully protesting vaxx mandates.. froze their bank accounts / could not pay rent, buy food.. .
Cashless is a dream of dictators.
https://freerepublic.com/focus/f-news/4226594/posts
I do not know what form the next currency will take, but the currency after that will be the IOU.
It’s just a a matter of time.......
You are correct.
Social Credit Scores are/were designed for just that.
“SWIFT planning launch of new central bank digital currency platform in 12-24 months”
Is there anything that girl can’t do? Her parents must be so proud.
Your bank generally stays out of your private life. CDBC is being designed to hook into other networks like the internet and any website you visit, like this one. The computing power these days along with AI will be able to track all you do and say and give you a social credit score. If your score gets too low, your money is frozen or at least limited. That’s China already.
This is coming from the same people that are killing cattle in Ireland and want to do the same in the Netherlands because beef is supposedly bad for the planet. Same people who don’t think all of us little people need cars which are also bad for the planet/climate. You will eat zee bugs, own nothing, and be happy.
.
Thanks for posting.
LOL!
They will be able to program each dollar you own to be spent on approved goods only.
They could determine that you can only purchase 150 grams of animal protein each week. When you attempted to purchase your 151st gram, the transaction would be denied at the counter.
They could determine that your carbon footprint was TOO big this week and you will only be able to purchase a certain amount of watts of electricity for your car (you probably shouldn’t have turned the heat up so high in your house).
[They will be able to program each dollar you own to be spent on approved goods only.]
That’s what Jim Rickards claimed last year:
The Digital Dollar will save us! Yeah, That’s the ticket!
(worth it to watch just the first 17 minutes - there will be no way to “prosper”, though)
The Jim Rickards Commercial
https://www.youtube.com/watch?v=fCfzQNhi_ns
(Google’s YouTube, amazingly, kept popping this up on my recommended playlist on the side - so I finally watched the beginning of it - ignore the sales pitch and watch the first part I recommended above)
the big deal is that your social credit score will determine if you can access your funds
I live in rural Central kentucky. Here, if you have more than 10 acres you don’t need a hunting license to hunt on your property. I have 32.
But we also do gardens here and we grow our own cattle here though I just will split a cow with a friend that we purchased from one of my other friends and take it to the local butcher. The total price per pound of usable meat is somewhere around $4 a pound. If it comes to it we can just use barter.
[the big deal is that your social credit score will determine if you can access your funds]
Gotta open your mouth for the facial recognition software in China (it seems)
Woman Visiting China Can’t Buy Food Due to Digital ID Policy - Facial Recogntion Required
China...No Digital ID...Can’t buy food! (1 minute 20 seconds)
https://www.youtube.com/watch?v=f6diM6X2A8E
No doubt, but you don't need "crypto" or a new central bank digital currency to do it, they already have what they need in place other than a ban on physical currency.
Thanks
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