So, what's the point of this project then?
Discussion
None, it's useless. It must die just like Dollar or Euro.
To fund the US government by dollarizing the unbanked masses, and providing buyers for treasuries. And Iām not singling out Tether, they are just the largest.
At the end of the day, the 1971 dollar system is dying, and this extends it a bit, ideally long enough for a replacement (Bitcoin, imho) to take over.
nostr:nprofile1qqsvf646uxlreajhhsv9tms9u6w7nuzeedaqty38z69cpwyhv89ufcqpzfmhxue69uhhqatjwpkx2urpvuhx2ucprpmhxue69uhhyetvv9ujuumwdae8gtnnda3kjctv6pxxfy has been talking about this a lot lately.
So I guess this is similar to what Europe is trying to do with Digital Euro, right? It helps surveil everyone, and extend their euro lifespan (which is a new idea to me)
My impression is the digital Euro is a true Central Bank Digital Currency (CBDC), likely to eventually include all of the dystopian aspects like social credit scores, etc.
Stable coins in the US, under the Genius Act (which mainline/offshore Tether is, I believe outside of) would be more of a Private Bank Digital Currency.
In the US, the private sector will usually lead, with varying levels of intervention or coercion from the government.
Stay humble and stack sats, no matter whay