wry Posted October 17, 2019 #1 Posted October 17, 2019 In remarks at an event in Austin Texas the governor of the Dallas Federal Reserve Bank acknowledged that the Fed was looking at and actively debating a digital US dollar. Of course, dollars already move around the world digitally, so I'm not sure exactly what would change, although maybe he's talking about a decentralized network like Bitcoin's, but maybe not, he just said "digital dollar." Apparently, they are worried about the USD ceasing to be the world's reserve currency. If the USD stopped being the reserve currency then US interest rates would rise and other countries would be less dependent on the US financial system. Considering the bad IRS news out of the USA, I'm calling this story a win for crypto! Link: https://www.coindesk.com/top-fed-official-says-us-central-bank-actively-debating-digital-dollar
Sumedang Posted October 20, 2019 #2 Posted October 20, 2019 it can indeed be a concern and also a nightmare of our banks because it can interfere with dollar dominance, but it is indeed difficult to withstand technological advancements including digital currencies.
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