Money
Boston’s Federal Reserve says it has solved technical challenges of a ‘digital dollar’
It could settle payments in under two seconds and handle 1.7 million transactions a second. The US Federal Reserve is continuing its research into a “digital dollar” and has unveiled a technical specification for how it might work, The Washington Post has reported. Researchers designed a system that can handle more than 1.7 million transactions a…
Read MoreFederal Reserve Chair Jerome Powell Says U.S. Government Looking into Own Digital Currency
Federal Reserve Chair Jerome Powell said Thursday that the government is exploring the possibility of issuing a new type of digital currency amid the rise of cryptocurrencies. Powell said that the Federal Reserve would be publishing a discussion paper sometime during the summer of 2021 that would focus on the possible creation of a central…
Read MoreBankers Issue ‘Seismic’ Warning: Bitcoin, Ethereum, BNB, Cardano And XRP Could Replace The Dollar In Just Five Years As Crypto Market Price Adds $1 Trillion
Bitcoin and cryptocurrencies have roared back over the last month after a China and Elon Musk-induced sell-off. The bitcoin price last night broke above $50,000 per bitcoin for the first time since May. Meanwhile, double-digit gains among other major cryptocurrencies—including ethereum, Binance’s BNB, cardano, and Ripple’s XRP—helped the combined crypto market value climb to over $2.1 trillion, up from…
Read MoreBiden takes big step toward government-backed digital currency
The Biden administration is throwing its support behind further study and development of what would be known as a U.S. Central Bank Digital Currency. A U.S. digital currency could be on the horizon. The Biden administration is putting its support behind the research and development of a “U.S. Central Bank Digital Currency,” or CBDC. The move is part of…
Read MoreChina’s Digital Yuan Reported To Be Ultimate Financial Censorship Tool
In a new report released yesterday by the Center for a New American Security (CNAS), evidence of a 2018 PowerPoint presentation in China indicates what many may already have suspected – central bank digital currency is being designed to allow for surveillance of all financial transactions throughout its society. “By eliminating some of the previous…
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