Doesn’t get more exciting than this.
#BankingBad
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Discussion
Is this actually real?
Guys, they’re just trying to help…
😜
I’m from the government… and I’m here to help.
🤡🌎
I wonder who’s building the back end for them?
This system is supposedly an alternative to a CBDC digital payments system. Here’s a little site they cooked up to learn about it. https://explore.fednow.org/explore-the-city
Alternative to a blockchain based system***
Wow. So many peopke will get lost in this. If only they had an alternative? 😢
It’s the Real Time Gross Settlement mechanism (RTGS) . Which “may” set the stage for CBDC’s.
That’s all we really know ATM.
“The FedNow Service will launch with a robust set of core clearing and settlement functionality and value-added features. **More features and enhancements will be added in future releases to continue supporting safety, resiliency and innovation in the industry as the FedNow network expands in the coming years**
It’s gross alright
Damn near Orwellian
So predictable… I hope their CBDC will not get any traction. We have to educate a lot of people asap!
I talked to me mom about CBDC’s and she just couldn’t believe that would happen.
But… if you eliminate the regional banks.. in doing so, eliminate choice.
What choice does she have?
Bitcoin and Lightning. But I don’t Lightning is ready for a crowd this massive yet. Things are moving in the right direction with C= now, but most people will still trust the banks and government that brought you fiat over shadowy supercoders
The time mechanism that some governments have implemented is one of the scariest IMO.
You have to spend the money or it’s lost.
True Slavery is not having the ability to save your time now for the future.
The problem is, it doesn't need to get traction for some time and then suddenly some things are available only through cbdc. And then more and more... that's how governments implement unpopular stuff.
If people get their stimmies (only) in cbdc, how many won't install the app? If merchant gets a tax break on the sales via cbdc, how many won't install the app?
They will move the Overton window like they always have.
We have instant payments in Argentina for years now.
What the hell is going on there
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