A shift from paper to virtual cash will empower central banks

recognised the disruptive potential of electronic money long ago. “This is a service which it is expected will be more and more availed of as the ease and economy of using it are understood,” its New York arm declared in a report. The year was 1917, and the Fed had just started allowing banks to transfer funds by telegram free of any interest charge. More than a century on, central banks are grappling with another technological revolution: the rise of mobile payments and the turn away from cash.

The second risk is that private-sector systems are too successful, with more people switching to payment platforms offered by big tech firms such as Facebook or Tencent. Many central banks began taking this risk more seriously when Facebook unveiled its plans for a digital currency in 2019.

Central banks would also have to pay heed to new vulnerabilities. In the event of a panic, savers could convert their bank deposits into theirCBDC

Source: Loan Digest (loandigest.net)

I'm going to destroy this evolving evil.

If you put something with unlimited supply on the blockchain, does that make it less worthless?

so if sweden’s digital currency system gets hacked would you call that a “krona virus”?

I need to keep a screen shot of this, coz usually when India talks about digitalization, the govt is mocked

the world had been growing up the dangerous Chinese Dragon monster, while the world was in bed, sleeping.

Alguém tem algum estudo sobre como esse tipo de inovação impacta no acordo de Bretton Woods?

1984 one step closer

Krona! Seriously..

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