Show Navigation
Conversation
Notices
-
In a discussion about #CBDCs (Central Bank Digital Currencies), I popped in, posted this description, and then got back out.
---
governmentally issued electronic money that only has value if it meets the following: 1. It must be spent BY the designated person or persons. 2. It must be spent ON allowed or specified products and services. 3. It must be spent BEFORE a specific date and time.
4. It MAY have other limitations, such as geographic restrictions or only spendable at certain vendors.
---
I note that a CBDC has little or nothing to do with #blockchain (at least the interesting parts around distributed consensus and distributed governance) . Electronic currencies probably date back to some of the first online multiplayer games, if not to credit card processing, so much of that has been explored for decades.
I have seen headlines about Congress pushing the Federal Reserve and Treasury to test a CBDC soon, with an eye toward having a viable "digital dollar" before other major economies can use their own CBDCs to upend and replace the dollar.
!econusa