RebKell's Junkie Boards
Board Junkies Forums
 
Log in Register FAQ Memberlist Search RebKell's Junkie Boards Forum Index

U.S. Is Losing the Global Race to Decide the Future of Money

 
Post new topic   Reply to topic    RebKell's Junkie Boards Forum Index » Area 51
View previous topic :: View next topic  
Author Message
pilight



Joined: 23 Sep 2004
Posts: 63637
Location: Where the action is


Back to top
PostPosted: 09/22/21 3:29 pm    ::: U.S. Is Losing the Global Race to Decide the Future of Money Reply Reply with quote

https://time.com/6099105/us-china-digital-currency-central-bank/

Quote:
In cities across China, the country’s central bank has begun rolling out the e-renminbi—an all-digital version of its paper currency that can be accessed and accepted by merchants and consumers without an internet connection, credit or even a bank account.

Already having conducted more than $5 billion in e-renminbi transactions, China has opened its digital currency up to foreigners. Next year, when Beijing hosts the Winter Olympic Games, authorities are expecting to let the world test drive its technological achievement.



_________________
The power of the police to fulfill their functions and duties is dependent on public approval of their existence, actions and behavior, and on their ability to secure and maintain public respect
tfan



Joined: 31 May 2010
Posts: 8640



Back to top
PostPosted: 09/23/21 10:21 am    ::: Reply Reply with quote

There are already a lot of cryptocurrency versions of a US dollar with over a $100 billion dollars in them. But it seems like payments, even without cryptocurrency, are mostly electronic/digital these days.

The incredible thing about the US dollar cryptocurrencies, known as stablecoins, is the interest rates that you can get on them. 7.5% to 10%. I have no idea how they can pay those rates in today's interest rate environment. But it seems like the banks have taken notice and the state and federal governments are starting to take action against the practice of paying interest on and lending of cryptocurrency. New Jersey and a few other states are forcing some of these "crypto banks" to not serve the citizens of their state and the SEC just got Coinbase to cancel a "Lend" product by threatening a lawsuit.


Display posts from previous:   
Post new topic   Reply to topic    RebKell's Junkie Boards Forum Index » Area 51 All times are GMT - 5 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by phpBB 2.0.17 © 2001- 2004 phpBB Group
phpBB Template by Vjacheslav Trushkin