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Satans Mark/Cashless
See other Satans Mark/Cashless Articles

Title: And So It Begins: Digital Currency Becomes Possible in our Future
Source: Ludwig Von Mises Institute
URL Source: https://mises.org/wire/and-so-it-be ... cy-becomes-possible-our-future
Published: Dec 13, 2022
Author: Claudio Grass
Post Date: 2022-12-13 17:03:03 by Charles_Byrd
Keywords: None
Views: 177

In mid-November, while the whole world was focused on the Ukraine crisis, the US midterms or whatever other “big story” the media decided was more important, a truly momentous shift took place in the global financial system. It might seem like a small step on the surface, but it has the potential to bring about a real and possibly irreversible sea change in the way we use money; or better said, the way it uses us.

As Reuters reported on the 15th of November, “Global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York. Citigroup Inc , HSBC Holdings Pl, Mastercard Inc and Wells Fargo & Co are among the financial companies participating in the experiment alongside the New York Fed's innovation center, they said in a statement. The project, which is called the regulated liability network, will be conducted in a test environment and use simulated data, the New York Fed said. The pilot will test how banks using digital dollar tokens in a common database can help speed up payments.”

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