U.S. Digital Dollar And Cashless Society Exposed
This Is The Information The Federal Reserve Don’t Want You To Know!
The late John McAfee alleged that the U.S. digital dollar is already being used in place of fiat currencies and is relatively regulatory-free.
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The major advantage that cryptocurrency has over fiat currency is being permissionless.
John McAfee
The late John McAfee indicated that cryptocurrency (U.S. digital dollar) can already be transferred without the need for banks or government interference, which constitutes a cashless, underground society.
In other words, he was stating that it’s easier to go ahead and DO something than it is to get PERMISSION to do it.
Case in point, if Silicon Valley always waited for regulatory approval, it would delay access to tech devices that have transformed consumers lives and the way corporations do business.
In the 1990s-2000s, technology innovation was a relatively regulatory-free sandbox for Silicon Valley.
I think that McAfee believed the same was true for him, Facebook Diem, and other cryptocurrency and tech sectors.
More than that, I think he may have infringed upon banker liberties in giving consumers “permission” to use cryptocurrency for financial transactions without regulatory risks.
Although consumers have been using digital currency for decades, the “official” US digital money is not ready as a global payment system that has been many years in the making.
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So, how and why has Facebook been able to create Libra 1.0 that has morphed into Diem?
Why is Diem permissible while nations, i.e. United States, Russia, China, South America, Australia, Japan, etc. are still researching the digitization of money?
Why can Facebook play in the digital currency sandbox without permission?
It seems like McAfee and Facebook have already figured out the digitization of money and are priming users while big governments are stuck in the research and pilot phase.
With hindsight, they realized there are no assets backing US currency, so that left the barn door open for many cryptos to bolt and be manipulated.
Dollars Are Already Digital: It’s All About Digital Payments
According to Reuters, the Fed’s digital dollar is nearly a done deal; and the technology that could be used for a digital dollar is nearly done and could be released over the next month or so.
The initial findings from the Boston Fed research are “basically done” and will include open-sourced code that could serve as a potential model for a Central Bank Digital Currency (CBDC) focused on payments. It will also focus on the system’s ability to handle tens of thousands of transactions per second.
Jim Cunha, Senior Vice President, Boston Federal Reserve
As alluded to in the John McAfee Cryptocurrency video, crypto money (CBDC) can be used for global payments to buy houses, cars, etc.
It’s no secret that crypto is exchanged for making purchases, but it is still more of a speculative asset than fiat.
Yet, people are exchanging it like real money for tangible items, everyday!
Whether it’s called Bitcoin or Diem, the US needs a stable currency and monetary system.
So, clearly, if digital currency is to exist, the central bank will play their usual role of guaranteeing the stability and “face value”.
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According to McAfee, with cryptocurrency, people don’t need banks.
That notion brings crypto users to a dangerous fork in the road with central banks because they’re anxiously researching global digital retail payment systems for their societies.
Therefore, they don’t want you playing in the permissionless sandbox by making retail purchases until their official currency is available and legal tender.
They’re probably working on some type of digital access identification to unlock encrypted digital money files to make transactions.
This is no longer a theory.
Current and historical examples prove correct since money has been digital for decades.
If digital currency is needed for consumers, bankers would say it is NOT up to gurus like John McAfee and Mark Zuckerberg.
It is and always will be up to central banks to issue digital money for retail payments and the U.S. multitudes.
RuralMoney.com
McAfee being the mastermind he was, got ahead of central bankers in creating digital monetization and prompting society to use it for their own transactions.
Meanwhile, the giant banks have yet to fine tune their private sector electronic crypto payment systems.
This is a Rural Money Editorial Giving Credit To The HeraldSheets.com
Related Post: IS FEDCOIN AMERICA’S NEW EBT FOOD STAMP TYPE CRYPTOCURRENCY
Resource: Understanding Central Bank Digital Currencies
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