Digital Dollar: White House punts on 'digital dollar' but announces interagency research group

[titan]

White House punts on 'digital dollar' but announces interagency research group​

The White House punted on whether it was ready to support the creation of a digital dollar, which would have allowed the United States to further adapt to the evolving crypto industry and help strengthen the dollar's dominance in competing with China.
The White House released a fact sheet on Friday announcing several new financial and technological initiatives to help the U.S. succeed in the race to innovate in the financial tech industry. However, it said it would put off decisions about approving the creation of a Central Bank Digital Currency, a government-created digital token compatible with the cryptocurrency marketplace.

White House punts on 'digital dollar' but announces interagency research group

The White House punted on whether it was ready to support the creation of a digital dollar, which would have allowed the United States to further adapt to the evolving crypto industry and help strengthen the dollar's dominance in competing with China.

www.washingtonexaminer.com

Biden seems out of touch. Bitcoin may not yet be fully stable. The U.S. dollar was a reliable standard of international trade, international oil trades conducted in U.S. dollars, etc.
Crypto-currencies encroach on market share. If the U.S. hopes to maintain global currency prominence it's past time for the U.S. to establish itself with a prominent, trustworthy global crypto-currency presence. Wake up Joe.

 

[Borg Refinery]

My worry is the centralisation of finance with intl crypto-currencies and central banks running them - if you tie that in with quasi-social credit systems then banks can determine "good actors" and "bad actors" and that's a worry wrt freedom of speech.

I don't like anti-vaxxer nut nuts either but nor do I like chilling effects on freedom of expression or speech and that is the direction things are headed in wrt this, IMHO.

 

[sear]

Amen O #2
We've been warned.

"In framing a government which is to be administered by men over men, the great difficulty is in this: you must first enable the government to control the governed, and in the next place, oblige it to control itself." James Madison

There are obvious benefits to uniformity. Unquestionably the Industrial Revolution has demonstrated that. It wasn't a fluke. Instead it's the premise for the E.U. / Euro.

I'm not a lawyer, but perhaps safeguards could be written into the charter, to dissuade hanky-panky. Or perhaps U.N. standards could be expanded to include crypto-, and then crypto-currencies using the Internet / WWW could receive license from them. Numerous options. BUT !!

It would be a mistake to ignore your well-reasoned "worry". "Spit happins", but only if we let it.

"I don't like anti-vaxxer nut nuts either but ..." O #2

I puzzle over it, akin to my puzzlement over those that claim the Holy Bible is the inerrant word of god, talking serpent, pregnant virgin, etc.
I got Pfizer #5 last Wednesday. So I'm now on par w/ CDC recommendations for 65+. rah rah

- Live long & proper -