Work on a Multi-CBDC Platform Has Revealed ‘More Questions Than Answers’ – BIS

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Work on a Multi-CBDC Platform Has Revealed ‘More Questions Than Answers’ – BIS

The Bank for International Settlements’ (BIS) central bank digital currency (CBDC) project, known as Project Dunbar, has created more questions than answers, a new report from the international body has said. However, establishing a global network of connected CBDC platforms still remains a goal for the bank.

is a central bank digital currency coming to the US?


likely CBDC for US & EU 2022. imo.

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CBDC Rollout Plan Is Here | But It’s Worse Than You Thought


Join us in this video as we explore the rapid global adoption and development of Central Bank Digital Currencies (CBDCs) in 2023. We begin with the significant completion of a CBDC project between the Bank for International Settlements (BIS) and the Bank of England, potentially signaling the closer launch of a digital pound. The implications of such a development on the broader global financial system are examined. China, an early adopter of CBDCs, is taking it a step further by planning to pay government staff in their digital currency. We discuss the implications and potential effects of this groundbreaking decision. Partnerships are forming worldwide as central banks and tech giants team up to make CBDCs a reality. We discuss Samsung’s collaboration with the Bank of Korea to launch a new digital CBDC and how tech is playing a vital role in shaping the future of money. Our discussion takes us to Canada, where plans for a digital Canadian dollar are being forged, and the International Monetary Fund (IMF) working on a global CBDC platform, signifying a shift toward a more interconnected digital financial system.

#CBDCs #DigitalCurrency #BIS #BankOfEngland #IMF

TOPICS AND TIMESTAMPS:
BIS CBDC 0:00
More CBDC’s! 4:50
IMF CBDC 7:44
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THIS Is How The Government Will Force You To Accept CBDC’s


How will the Government force you to accept CBDC’s? By performing government transactions through CBDC’s. As mentioned bellow, any fiscal spending, welfares, government assistance, paychecks, and even Social Security and Welfare will be through CBDC’s

Excerpt from the official Whitehouse fact sheet regarding Digital Currencies

“The digital assets market has grown significantly in recent years. Millions of people globally, including 16% of adult Americans, have purchased digital assets—which reached a market capitalization of $3 trillion globally last November. Digital assets present potential opportunities to reinforce U.S. leadership in the global financial system and remain at the technological frontier. But they also pose real risks as evidenced by recent events in crypto markets. The May crash of a so-called stable coin and the subsequent wave of insolvencies wiped out over $600 billion of investor and consumer funds.

President Biden’s March 9 Executive Order (EO) on Ensuring Responsible Development of Digital Assets outlined the first whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology. Over the past six months, agencies across the government have worked together to develop frameworks and policy recommendations that advance the six key priorities identified in the EO: consumer and investor protection; promoting financial stability; countering illicit finance; U.S. leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation.

The nine reports submitted to the President to date, consistent with the EO’s deadlines, reflect the input and expertise of diverse stakeholders across government, industry, academia, and civil society. Together, they articulate a clear framework for responsible digital asset development and pave the way for further action at home and abroad. The reports call on agencies to promote innovation by kickstarting private-sector research and development and helping cutting-edge U.S. firms find footholds in global markets. At the same time, they call for measures to mitigate the downside risks, like increased enforcement of existing laws and the creation of commonsense efficiency standards for cryptocurrency mining. Recognizing the potential benefits and risks of a U.S. Central Bank Digital Currency (CBDC), the reports encourage the Federal Reserve to continue its ongoing CBDC research, experimentation, and evaluation and call for the creation of a Treasury-led interagency working group to support the Federal Reserve’s efforts.

To promote safe and affordable financial services for all, the Administration plans to take the following steps:

Agencies will encourage the adoption of instant payment systems, like FedNow, by supporting the development and use of innovative technologies by payment providers to increase access to instant payments, and using instant payment systems for their own transactions where appropriate – for example, in the context of distribution of disaster, emergency or other government-to-consumer payments.
The President will also consider agency recommendations to create a federal framework to regulate nonbank payment providers.
Agencies will prioritize efforts to improve the efficiency of cross-border payments by working to align global payments practices, regulations, and supervision protocols, while exploring new multilateral platforms that integrate instant payment systems.
The National Science Foundation (NSF) will back research in technical and socio-technical disciplines and behavioral economics to ensure that digital asset ecosystems are designed to be usable, inclusive, equitable, and accessible by all.”

CBDC Central Bank Digital Currency in The USA: What You Need To Know


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