What benefits and negatives to you see with crypto? (CBDC 2022) (Kolakowski 2022) In the age of crypto the public has looked to the FED for their perspective of the creation of a crypto for the U.S. in the form of a Central Bank Digital Currency. The FED describes that a, "CBDC transactions would need to be final and completed in real time, allowing users to make payments to one another using a risk-free asset." This debate is popular with the FED holding an open comment submission earlier this year with the public on the topic! Sadly, the submission period of 120 days has ended but here is the link to the PDF gallery of public comments: Federal Reserve Board - Public Comments (Links to an external site.). What does the group think about a nationally created crypto? (CBDC 2022) A digestion article I recently enjoyed was useful as a guide to the massive original post by the FED here: Money and Payments: The U.S. Dollar in the Age of Digital Transformation (federalreserve.gov) (Links to an external site.) The article discussed benefits from improving international strength of the dollar to weaknesses such as exposing the economy to cyber attacks. References Board of governors of the Federal Reserve System. Federal Reserve Board - Central Bank Digital Currency (CBDC). (2022, June 30). Retrieved July 20, 2022, from https://www.federalreserve.gov/central-bank-digital-currency.htm (Links to an external site.) Kolakowski, M. (2022, July 13). Fed releases discussion paper on Central Bank Digital Currency (CBDC). Investopedia. Retrieved July 20, 2022, from https://www.investopedia.com/fed-paper-on-central-bank-digital-currency-cbdc-5216571 (Links to an external site.)
What benefits and negatives to you see with crypto? (CBDC 2022) (Kolakowski 2022)
In the age of crypto the public has looked to the FED for their perspective of the creation of a crypto for the U.S. in the form of a Central Bank Digital Currency. The FED describes that a, "CBDC transactions would need to be final and completed in real time, allowing users to make payments to one another using a risk-free asset." This debate is popular with the FED holding an open comment submission earlier this year with the public on the topic! Sadly, the submission period of 120 days has ended but here is the link to the PDF gallery of public comments: Federal Reserve Board - Public Comments (Links to an external site.). What does the group think about a nationally created crypto? (CBDC 2022)
A digestion article I recently enjoyed was useful as a guide to the massive original post by the FED here: Money and Payments: The U.S. Dollar in the Age of Digital Transformation (federalreserve.gov) (Links to an external site.) The article discussed benefits from improving international strength of the dollar to weaknesses such as exposing the economy to cyber attacks.
References
Board of governors of the Federal Reserve System. Federal Reserve Board - Central Bank Digital Currency (CBDC). (2022, June 30). Retrieved July 20, 2022, from https://www.federalreserve.gov/central-bank-digital-currency.htm (Links to an external site.)
Kolakowski, M. (2022, July 13). Fed releases discussion paper on Central Bank Digital Currency (CBDC). Investopedia. Retrieved July 20, 2022, from https://www.investopedia.com/fed-paper-on-central-bank-digital-currency-cbdc-5216571 (Links to an external site.)
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